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Best Practices for Repaying your Loan

1. Make a budget – To ensure the money is always there, it’s best to make a budget—or adjust your budget if you already have one.  By keeping track of where your money is coming from and going to, and how much you’ll need for each month, you’ll be able to...

QuickBooks tips cont.

1. Use the QuickBooks Audit Trail to protect against risk The QuickBooks Audit Trail quickly bolds and italicizes any transaction that has been manipulated or changed. If more clients are using the Audit Trail report as part of their ongoing monthly review and...

QuickBooks Tips

Here are some quick tips to help you maximize your use of QuickBooks. 1. Enter multiple items with the same name & account type all at once. Make your life easy in QuickBooks Online with bank feeds. Link your bank to your QBO account. If you’re trying to enter...

Why you should file your taxes early

When tax season comes around many people tend to wait until the last minute to file their tax returns, but there are many reasons as to why you should file your taxes early, even if you can’t pay. 1. You get your tax refunds faster – The most common reason as to why...

Bookkeeper vs. Accountant

Bookkeeping is more focusing on entering and recording transactions where accounting is more about giving the business insight based on the bookkeeping information.   Bookkeeping consists of: Recording financial transactions Posting debits and credits Producing...

Should a business owner or the office manager do the bookkeeping?

When you own a small business there are a lot of things that you must keep track of and at times it can get overwhelming.  Some business’s will have their office manager or receptionist do their bookkeeping.  You may think this sounds like a great idea because it’s...

1099 vs W2

  1099 vs W2   1099 employees are considered independent contractors who are self-employed. A W2 employee is an employee who receives a regular wage along with benefits.  A W2 employee has taxes already taken from their paychecks whereas a 1099 employee gets paid...

QuickBooks Online vs. QuickBooks Desktop

With Intuit’s QuickBooks Online taking up more and more of the bookkeeping software spotlight every day, it’s time to settle the debate. Is the Online version of everyone’s favorite accounting tool about actually better? Battle of the Bookkeepers In one corner, we...