Do you have a regular schedule you follow with your QuickBooks Online work? Whether you’re a new QuickBooks Online user or a long-time user, having a regular accounting routine can make you more productive and confident that you’re addressing all of your accounting issues. What Should You Do Every Day? Even if you don’t have […]
If you’re still manually entering your banking and credit card activity into QuickBooks Online, we suggest you consider setting up connections to your online bank and credit card accounts. Once your transactions are delivered to QuickBooks Online, the site provides tools that allow you to view them and make sure they’re complete before you record […]
Class tracking in QuickBooks Desktop allows users to track financial information by business segments (locations, departments, programs, events, etc.). It also allows you to keep your chart of accounts simplified as you don’t need to duplicate elements of your chart of accounts to track multiple business segments. To begin using the class tracking feature, you’ll […]
Business owners tend to focus on the Profit and Loss Statement as it shows the income and expenses flowing through their business. Also, the categories (accounts) on the Profit and Loss Statement are terms they tend to use in their day-to-day business dealings. The Balance Sheet however, uses accounting terms that might not be used […]
A new year is a perfect time for a fresh start for you and your business. Here are five ways to welcome 2023 and make it your best year ever. Decide on a theme for 2023Setting a theme for the year can help you remember what you want to focus on. Some examples of themes might […]
“Quiet quitting” is a very new term in 2022 that refers to one or more employees who remain working, but only do the minimum job during regular work hours. They are done going the extra mile, they are done working overtime, they are likely done caring all that much, and they may also be quite […]
The word “audit” can be thrown around a lot in casual conversation. When an accounting professional uses it, it means something very specific. We’ll discuss this and other uses of the term “audit” in this article. Financial Audit A financial audit is an official service designed to inspect the accounting records, technology, and processes of […]
All businesses, no matter their size, have bills to pay. The larger the business, the more formal the accounts payable process tends to be. That doesn’t mean small business owners can’t benefit from a formal accounts payable process. Too many “fake” bills are being sent, and all businesses should have safeguards in place. Let’s take […]
The equity section of a business’s balance sheet is the most difficult part to understand. The accounts that make up that section vary depending on the type of entity in which the business is structured. In this article, let’s take a look at what the equity section looks like for companies that are organized as […]
How do you arrive at a price for the products and services you sell? While it depends on what industry your business is in, there are only a handful of foundational pricing methods that are useful to know. Here are several of them. Time and Materials PricingMany service-based businesses price based on the time spent […]