QuickBooks provides tools that help you create, print, and track checks. However, you do not just head to the Write Checks window every time something needs to be paid. There are numerous times when you would record a payment in a different area of the program. For example, if you have already created a bill in Enter Bills, […]
If you keep any kind of digital information in your business, you have a chance of becoming a victim of a cybercrime. The odds have increased exponentially during the pandemic, with more cyberthreats and scams floating around than ever before. Here are some ways to reduce your chances of getting attacked. Social Engineering Social engineering […]
Independence is a key concept in accounting, especially in the assurance or auditing area of accounting. Assurance services are services where a licensed CPA reviews an organization’s financial statements and accounting records and provides an opinion about them. This opinion takes the form of a report that can be shared with third parties such as […]
The Employee Retention Credit is one of the many IRS tax breaks for businesses that was included in the 2020 CARES Act as well as the recent Consolidated Appropriations Act, 2021. The goal of the credit is to provide financial relief to businesses that suffered from the effects of coronavirus but retained their employees. The […]
You are accustomed to money going in a certain direction, but sometimes you have to pay your customers. Here are the basics of how to get that done. Credit Memos A customer returns an item for which they have already paid, and you have to credit them for their cost. You can deal with the […]
A great way to start the year is to take a fresh look at your business finances. Many things changed in 2020, and if you are in the habit of spending on the same items year after year, it’s the perfect time to decide what is essential and what can go. There are only a […]
As you are going about your day, it is easy to be pulled in multiple directions. Having a regular bookkeeping routine can help you stay on track. Here are some best practices when using QuickBooks Online. Go through your new transactions regularly One of the best things about QuickBooks Online is its ability to connect […]
A cashless business is one that processes all cash transactions electronically. There is no paper or coin money taken or handled. While no one society has become 100 percent cashless yet, most organizations are moving in that direction. A business can become cash-free by providing multiple electronic alternatives to payment. Credit cards are the most […]
Qualifying small businesses can now apply for Paycheck Protection Program (PPP) loans through certain lenders. The Small Business Administration (SBA) reopened its PPP portal on January 11, 2021 after Congress passed and the President signed legislation in December 2020, authorizing the continuation of the program and an additional $284 billion in funds. The program allows […]
Learning any new piece of software can be challenging. Add a complex process like accounting, and you may feel apprehensive about your ability to learn how to use it. While QuickBooks was designed for small businesses, focusing on forms and keeping the accounting jargon to a minimum, it is important to manage expectations that you […]