What do you need in an Expense Report? To save you and your bookkeeper time, incorporate the following seven features into your Expense Report.
As last year winded down and you looked toward this year, you probably had goals and dreams of where you would like your business to go and how to make it grow. You prepared what you thought to be a realistic budget. Preparing the budget is the first step; reviewing it at least monthly is as important to the success of your company. Don’t let your budget gather dust and never look at it again.
Are you a dentist who does work in exchange for IT services? Maybe you are a physical therapist who exchanges services with someone who does your social media. These are great examples of bartering.
5-Point Checklist: What to Send Your Accountant
Where does the time go? If you are already looking at the calendar and wondering how to accomplish a lot of reporting in a short time for tax season, we understand.
If you have a very small company with only a couple checking or credit card accounts (designated solely for your business) and don’t want to pay for QuickBooks, how can you keep track of your financial records?
You can use an excel spreadsheet to record your sales and expenses.
OOPS! 2017 is over and you forgot to do your bookkeeping. You are not returning your accountant’s phone calls because you don’t have the information that he needs to you’re your tax return for 2017. What should you do? You are not the only one. Every day we get a call from an optometrist or property manager who never kept any records last year. Here is what we do when faced with this dilemma.
Yes it is 1099 season! If you are a small business and don’t have bookkeeping support, what is the quickest way to get your 1099s out to the correct vendors?
Businesses are required to send a 1099 to:
- Service providers that you paid $600 or more
- Your landlord for the rent you paid
- All attornies even if they are incorporated
Who don’t you send a 1099 to?
- Suppliers of products like utilities or office supplies
The two easiest ways to file are:
Our clients often ask us to help prepare their taxes in addition to the small business bookkeeping assistance we provide. Instead, we refer our clients to a CPA firm to provide tax preparation assistance. Why? Let’s look at the primary purpose of a CPA and a bookkeeping firm:
Old uncleared checks in the bank register
Payments in Undeposited Funds that have been deposited
Payments on invoices that have been deleted
Unreconciled bank accounts going back a year