Quickbooks, Bookkeeping and Accounting Blog

A list of upcoming dates and actions that accountants, bookkeepers and small business owners should be aware of follows:

1/1/2008 - Stop the advance credit of the Earned Income Credit for employee who have not submitted a new Form W-5.
1/4/2008 - If you are subject to the semiweekly deposit rule, then deposit payroll taxes for payments made on […]

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Intuit recently announced that they will be offering an online version of Quicken for the iPhone and other mobile devices. Quicken for mobile devices will be released in January 2008 for the iPhone. It will be optimized for other mobile devices, including Blackberry devices, later on. The product is aimed at younger audiences and will […]

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Employees cost significantly more than what they receive in salary. If you offer generous benefits, then they probably cost much more. Making your employees aware of this is a simple way to make them feel more valuable.
Consider an employee with an annual salary of $30,000 who receives full individual health insurance. After you add in […]

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Accrual based businesses generally need to make a number of adjustments before closing their books at year-end. Different businesses make different decisions as to exactly what to accrue, but whenever an expense is incurred in one year for which the benefit won’t be received until the next year, or revenue is received in one year for products or […]

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QuickBooks classes enable you to essentially break your business down into a number of smaller businesses and look at complete profit & loss statements for each business. For example, you could break your business down by industry, location, product or service, or anything else that is meaningful for your particular business. This is a powerful […]

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We generally know who are biggest customers are and which customers pay us the most money. It is much more difficult, however, to know who our most profitable customers are. The end of the year is a good time to evaluate your customers and figure out which ones have earned you the most profit during […]

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Description : Parvez Anwar has discovered a vulnerability in various Intuit products, which can be exploited by malicious people to compromise a user’s system. via Secunia

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When quickly entering a pile of bills or reconciling a bank account, it can be very frustrating to come across an unknown bill or transaction. How do you enter it into QuickBooks if you don’t know what it is? Instead of stopping what you are doing and hunting down someone who knows, assign it to […]

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Spending some time reviewing and correcting your books in December makes it a lot easier to close them in early January and helps insure you get off to a good start in the new year. Here are some things to do:

Reconcile bank accounts

Make sure all bank statements are reconciled. If there are old unreconciled items, look into […]

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I have used various of the questions below when interviewing bookkeepers and controllers and have found them to be very useful for assessing a person’s knowledge of QuickBooks, Excel and general accounting/bookkeeping.
General accounting knowledge: 

Explain the differences between assets and expenses.

If a person stumbles, then they don’t understand basic accounting and you don’t want them in charge of […]

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Many small businesses suffer from the lack of strategic financial input. The questions below will help you determine if your company would benefit from CFO Services.  If you answer “No” to any of these questions, then it’s likely that you are missing out on valuable and easy to obtain information that could help you make better business […]

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Many companies spent time and money building websites over the last few years only to find they did not acquire any new business as a result of their new website.  Consequently, they have given up on the Web as a source of new business at exactly the time when they should be focused on it. 
Because […]

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Customers are increasingly choosing and buying products and services over the Web, and their search usually starts on one of the major search engines.  Despite this, few small companies have put significant effort into search engine optimization (SEO).  As a result, SEO offers both a tremendous opportunity for companies to acquire new business and a […]

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Knowing whether your revenue went up or down is important, but it’s equally important to understand why. There are many things to consider when thinking about why, such as whether the overall market for your product went up or down. If worldwide sales for your product went up 50% and your sales went up just […]

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Some companies pay their bills the day they get to them and others let them pile up until the pile starts to fall over before digging in. Companies that pay right away never face late payments and are ahead of the game. Companies that wait as long as possible keep their cash longer and don’t […]

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