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 ...
Deciding whether to capitalize or expense purchases is a common consideration for small business owners. The way these purchases are recorded can significantly impact whether your year-end income ...
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.
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, ...
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 ...
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 ...
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
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 ...
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 ...
How much time out of your week or month do you and your staff spend on keeping up with the books? So many small business owners wear many hats, but their true strengths need to be spent on making the ...
