How are you doing now that spring has sprung? Feeling lighter, brighter and refreshed? We hope both you and your business are bouncing along nicely into Spring. How do you know if this year will blossom, or if parts of the business are late bloomers and dragging you down?
The second draw of PPP funds is a life raft for many small businesses. There are a lot of great changes to the eligibility rules and uses of PPP-2 funds. Unfortunately, there are a few changes that many deem unfair.
When it comes to bookkeeping for small businesses it is important to have a year-end checklist to make sure everything is in order. Here is our year-end checklist:
- Backup of data made before correcting transactions
- Review Trail Balance
- Balance changed? Review Audit Trail, Voided/Deleted and Retained Earnings QuickReport for prior year.
We decided to analyze our client’s financial performance for the last two years. (There's no denying it -- we are a bit nerdy!) Not surprisingly, we found that most small businesses had a difficult 2020 year. We noticed a few things when reviewing the data, such as:
We aren’t talking about peanut butter and chocolate (although that is good); we are talking about a part-time bookkeeper and a part-time CFO. That combination lets you do what you do best – create new products and services for your small business.
As Valentine's Day approaches, we think of those we love. We buy them chocolates -- or diamonds! -- and maybe go on a date (or get takeout during the pandemic). This year, how about showing some love for your bookkeeper? Since you're a small business owner, you need to be smart about your expenses, and your bookkeeper understands that. So, profess your appreciation in words. So, how do you love thee, bookkeeper? Here we count the ways:
Throughout the year, we publish weekly blogs loaded with tips, tricks, and valuable information about QuickBooks and all things bookkeeping. We all know 2020 was an unprecedented year, with information regarding relief programs and other solutions for businesses affected by COVID-19. We've compiled our most popular and significant blog posts from 2020 here to be sure you don't miss out on them!
Now that specifics are out for the second Paycheck Protection Program (PPP) round, there are some important things you need to know. One is the 25% loss in receipts rule.
For most of us, driving to the office has been replaced by remote work environments. Fortunately, at BudgetEase we did a lot of remote work before the pandemic. For many small businesses, however, this has been a challenging adjustment period.
Despite the time of year, I chose to head to Aurora Outlets to pick up a few holiday gifts this week. I recall saying last year that I would spare myself the misery of trying to find a parking spot and waiting in line. Knowing the annoyance lying ahead, I went anyway.