Financial Health is Company Wealth®
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 management of their company, they would likely uncover fraud more quickly, limiting the emotional and financial impact to their organization.
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 people may file them right away is so that they can receive their refund quicker. The best way to do this is to set up direct deposit to insure you get your return quicker because it can take up to several weeks for paper returns.
Bookkeeping is more focusing on entering and recording transactions where accounting is more about giving the business insight based on the bookkeeping information.
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 one less thing for you to worry about, but that may not always be the case. Just because the office manager knows some things about bookkeeping doesn’t necessarily mean it’s being done correctly. This may be a “cheaper” route instead of hiring someone else, but in the long run this could put your company in a serious financial situation. Some business owners themselves do the accounting but they shouldn’t be doing it either. Business owners should focus on their company and not have to worry about the accounting. Also, unless they are very educated in accounting, they may not do any good at it either. A company should hire someone with an accounting background to do all the accounting. This can insure you that the accounting will be done correctly.
Should a business owner or the office manager do the bookkeeping? Read More »
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 without taxes being taken out.
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