You trust your employees and want to help them in times of need. In some cases, that may mean extending to them a payroll advance. However, trust is a two-way street. While you want to be helpful, you also want to trust that your employees will pay you back. What is the best way to […]
When you work as an employee, things are simple; receive a paycheck and file your taxes at the end of the year. When you own a business, compensation becomes more complicated. How should you pay yourself as an owner? Let’s discuss four important questions to help you decide. What is your business type? Depending on […]
You make dozens of purchases from Amazon for your business. But tracking and organizing those purchases is often a challenge. After all, you can purchase almost anything from Amazon! You know there must be a better way to manage your Amazon purchases. Amazon offers a Business Edition. What is Amazon Business? Is it a better […]
Have you ever noticed that some transactions in your books are being categorized to a suspense account? Suspense accounts can be confusing. You may have questions such as: What is the purpose of this account? When do you use it? Why does it have a balance? We will discuss each of these questions one at […]
Understanding journal entries can be confusing. Your accountant or bookkeeper has probably let you know that these are essential for your accounting. Why do you need journal entries? What are the components of a journal entry? When would you use a journal entry? We will discuss these questions and provide examples of when journal entries […]
If you own a business, understanding accounting terms is not likely at the top of your list. It’s understandable; you may be juggling several responsibilities at once or simply do not have the time. Besides, if you pay an accountant or bookkeeper to manage your books, why do you need to know this stuff? A […]
Having accurate accounting data is absolutely crucial to the long-term success of your business. Especially in the construction business, accurate accounting is the key to growing your profitability, preventing fraud, monitoring costs, and keeping your clients happy throughout the course of a project. Bad or inaccurate data, on the other hand, could lead to disaster. […]
You want to convert from QuickBooks Desktop to QuickBooks Online (QBO). You don’t know if you should convert your existing data or start with a new file in QBO. What should you consider before you make the switch? Since we are familiar with both Quickbooks Desktop and QBO, we have helped many of our clients […]
You know that tracking your business vehicle expenses is important. But you have questions. Can I use my personal vehicle for business? What types of vehicle expenses should I track? Should I track mileage or actual expenses? We hear these types of questions often. In this article, we provide some answers and discuss some tips […]
As a business owner, you may feel that your business runs you rather than you run your business. You want to change your approach so that things are different in the future. Setting a specific goal and making a plan to achieve that goal can make it so things will be different in the future. […]
