W9 vs. 1099

There are a couple items that we as business owners need to know regarding W9 and 1099 forms. 1. Obtain a W9 from all vendors who are providing services for your company. If there is already one on file, make

10 Steps to a Successful Audit

1. Plan ahead – To be ahead of the curve, treat audit preparation as a year-long process. By keeping schedules and reconciliations up-to-date throughout the year, you can reduce the time it takes to prepare for the audit at the

QuickBooks Tips To Simplify Your Life

1. Use ProAdvisor – ProAdvisor is part of the QuickBooks Intuit Package and connects you with a local accountant who can help get you up and running on the software. They can also advise you on issues like tax requirements, offsetting of

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Basic Accounting Terms All Business Owners Should Know – General Terms

1. Accounting Period: The period communicates the span of time that is reported in the statements. 2. Allocation: The term Allocation describes the procedure of assigning funds to various accounts or periods. For example, a cost can be Allocated over

Basic Accounting Terms All Business Owners Should Know–The Balance Sheet

1. Accounts Payable – All Expenses a business has incurred but has not paid yet. 2. Accounts Receivable – All revenue (sales) that a company has provided but has not yet collected payment on. 3. Asset – Anything the company

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