What To Do Now To Avoid Year-End Bookkeeping Hassles

As we draw towards the end of the year, you’ve probably started thinking about taxes as a businessman or woman. If you find yourself thinking about taxes and bookkeeping at the end of the year, you’re too late. Moreover, you are likely to experience unnecessary bookkeeping hassles. It’s imperative you attend to your bookkeeping before the […]

Read More…

7 Common Accounting Mistakes To Avoid

Accounting mistakes happen occasionally, but you can avoid numerous common mistakes with proper preparation and planning. Remember, it typically takes more time to rectify an error than to get it right initially. Interestingly, it’s also cheaper to recognize and rectify errors early instead of waiting to correct the issue later. While some accounting errors are […]

Read More…

Working with Downloaded Transactions in QuickBooks Online

Working with Downloaded Transactions in QuickBooks Online Downloading transactions into QBO is the easy part. You still have work to do once they’re on board. Its ability to download financial transactions is one of the five best things about QuickBooks Online. Without it, you’d spend a lot of time on tedious data entry, verifying which […]

Read More…

7 Tips For Understanding Credits and Debits

Credits and debits are essential parts of the accounting system, which businesses use to record transactions, keep track of liabilities and assets. Once you understand their differences, you’ll be able to categorize and enter transactions properly. These concepts are traditionally difficult to understand because they aren’t very intuitive. Nevertheless, the most important rule to bear […]

Read More…

Creating Customer Statements in QuickBooks

Creating Customer Statements in QuickBooks Invoices not being paid promptly? Customers questioning their payment history? Create statements. Let’s say you have a regular customer who used to pay on time, but he’s been hit-and-miss lately. How do you get him caught up? Or, one of your customers thinks she’s paid you more than she owes. […]

Read More…

6 Essential Bookkeeping Items Start-Ups Must Track

For start-ups, managing business accounting can be intimidating and seemingly daunting. Furthermore, some of the most fundamental elements of accounting, for instance bookkeeping can get complex. Bookkeeping involves the recording of every financial transaction, including financial records of sales, purchases, and payments. The objective of this practice is to record a company’s financial records in […]

Read More…

The Fundamental Difference Between Bookkeeping And Accounting

Accounting and bookkeeping are essential functions required for businesses and while numerous people use these terms interchangeably, there are significant differences between them. The biggest difference between them is that accounting revolves around analysis, the examination of financial information and presenting it in a manner that’s beneficial to business. On the other hand, bookkeeping is […]

Read More…

Establishing Preferences in QuickBooks

Establishing Preferences in QuickBooks Before you start entering data, make sure QuickBooks is set up appropriately for your company. QuickBooks was designed to serve the needs of millions of small businesses. To do that, it had to include the tools and processes suitable for a wide variety of companies. But Intuit recognized that every organization […]

Read More…

5 QuickBooks Online Add-On Apps You May Need in 2017

5 QuickBooks Online Add-On Apps You May Need in 2017 Not finding quite everything you need in QuickBooks Online? Here are some handy add-on apps available. QuickBooks Online may work for you just fine as is. After all, it was designed to meet the needs of the millions of small businesses that want to manage […]

Read More…

Ringing Out 2016 in QuickBooks

Ringing Out 2016 in QuickBooks 2017 is just around the corner. Now’s the time to do your end-of-year QuickBooks tasks. Since early January of this year, you’ve been faithfully creating new records, entering transactions, and recording payments. You’ve run basic reports. You’ve done your collection duties. You may have paid employees and submitted payroll taxes. […]

Read More…