Proper classification is important for both the employee and employer to avoid costly penalties. Read our article to learn more.
It is very common for small business owners to mix personal and business expenses. Unfortunately, to their own detriment. Read our article to learn why they should be kept separate.
Take a look at our article if you’re thinking about using QuickBooks Online for your business but aren’t sure which plan is right for you.
As a business owner, managing cash flow is often one of the biggest challenges. Here is what you should know about cash flow management.
There are two methods of accounting that businesses can use: cash basis or accrual basis. Although they sound complicated, read our article to understand the differences between the two and when to use them.
One of the best features of QuickBooks Online is that small business owners can issue either invoices or sales receipts. Read our article to learn the difference between the two, including when to use them.
When hiring an employee, there are a few things to consider. One of them is the fact that the cost of hiring an employee is greater than their hourly wage.
Periodically reconciling your bank accounts is a great practice to help keep your books in order, catch any discrepancies on time, and make filing end-of-year taxes easier. Here is everything that you need to know about this process.
QuickBooks is a valuable tool for small businesses, but you only get out of it what you put into it. It’s easy to neglect bookkeeping if you are too busy working on other tasks to run your business, but an out-of-date file will surely give you a headache when trying to balance your books. Consult with us and request our service to review your QuickBooks Online File today!
Remote work has many benefits, but one of the drawbacks is that it makes filing your taxes more complicated, particularly if you are working from home in a different state from the one your company is based in. Before filing your tax return, see what you need to think about and discuss with your accountant.
As the New Year is here, here is the time to review your finances and be financially ready for what’s ahead. Learn about a few tasks you can get started on right away.
By law, you may be required to issue Forms 1099 to worker and the IRS by January 31st, 2022, if you hired independent contractors to perform services for your company, and paid them each $600 or more for the year.
In case you’re new to QuickBooks or you haven’t set up online banking yet, you may not know how easy it is (financial institutions may vary), or how safe it is. You can connect to one of your banks and import months of transactions under 10 minutes, depending on the volume of bank transactions you have. Check out our article to learn how.
Accounts payable (AP) is a crucial function to any business, as errors in the process put a company in problems. Although many businesses still use manual methods as they find the system to work fine, it requires a lot of precision from the accounts payable team. There are better – and more efficient – ways to manage AP through automation.
Ever wondered why so many promising new businesses crash land a few months (or years) after taking off? It often has to do with all the financial challenges they couldn’t navigate through.
The United States has one of the most enviable healthcare industries in the world. There are hundreds of health and wellness centers located throughout the country that offer specialized services.
Choosing to implement new technology for your accounting needs is a big step toward improving your business. Accounting technology helps streamline the accounting system, thereby offering various benefits. However, poor implementation can impact your business negatively. To make your implementation a success, there are several mistakes that you must avoid.
An accountant is responsible for more than crunching numbers. With the right accounting guidance and assistance, your small business can slide its way forward and grow more rapidly than it would’ve otherwise.
Bookkeeping is crucial for every business, and yet, many beauty salon owners underestimate the significance of this activity. In between booking appointments and ordering supplies, they barely have the time to attend to the bookkeeping and accounting needs of their business.
Many small business owners are reluctant to hire professional bookkeepers for organizing and tracking their financial documents, preferring to manage things on their own. However, following through with this decision isn’t quite as simple as it seems. By doing your own bookkeeping, you’re more likely to make mistakes and adopt less than ideal practices.
Every successful business has a professional bookkeeper documenting its transactions and keeping a record of all financial activities. In the last couple of years, there has been a growing trend of business owners hiring professional bookkeepers to manage accounts instead of doing all the paperwork on their own.
Every business need bookkeeping to ensure its finances are in order at all times. See why bookkeeping is important.
Business accounting helps business owners stay updated with their company’s financial status and implement the best strategies to maintain financial health. However, many small businesses make the mistake of handling accounting by themselves instead of outsourcing these services.
Taxpayers frequently ask what benefit is derived from a tax deduction. Unfortunately, there is no straightforward answer. The reason the benefit cannot be determined simply is because some deductions are above-the-line, others must be itemized, some must exceed a threshold amount before being deductible, and certain ones…
“Best practices” are recommendations for the most effective way to get things done. Are you following standard procedures in QuickBooks Online?…