Wondering how to properly keep track of your Interest on Lawyer Trust Accounts (IOLTA). To many small businesses, keeping records is downright confusing. We recommend keeping track of individual ...
Nov 14, 2019 1:39:19 PM
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Capitalizing versus expensing purchases is a common question for small business owners. The way purchases are accounted for can sometimes make the difference between a year-end income statement that ...
Oct 8, 2019 8:30:00 AM
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There are two ways of accounting – cash basis accounting and accrual basis. The main difference between them lies in the timing of when revenue and expenses are recognized.
Mar 12, 2019 8:36:00 AM
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If your small business has fixed assets or property, how do you determine the amount of depreciation to be entered into QuickBooks? Best practice is to use your accountant’s depreciation schedule, ...
Jul 17, 2018 9:33:41 AM
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It's all about the report! How often are you checking your books for accuracy? Reviewing a P&L (profit and loss statement) is a great practice to see how you’re netting out each month. But ...
Jun 27, 2018 9:05:00 AM
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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, ...
Feb 20, 2018 8:12:00 AM
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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 ...
Jan 10, 2018 8:21:00 AM
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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
Oct 19, 2017 9:24:00 AM
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Auditing your QuickBooks monthly not only ensures your financial information is correct, but it also helps you to make better business decisions. If you haven’t done so already, complete this quick ...
Sep 26, 2017 5:24:26 PM
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The chart of accounts is the set of accounts that show up on your balance sheet and profit and loss statement that you put your transactions into. In this video, learn how to set up a quality, but ...
Aug 14, 2017 8:45:00 AM
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