The holidays are coming. In the joy of the season, and the rush for gifts, don't forget....take a few moments every weekend to start sorting your tax receipts. Get your medical bills together, if there are any behind, pay them now. It can save you later. Don't forget your charities, especially at this time of year. Donations help those in need, and are still deductable.
Need help or just some more information? Leave a comment, or give me a call. I am listed in the business section in Google Real Accounting and Bookkeeping Solutions
Management and accounting for small businesses. Find real solutions to manage an online business, address the challenges of running a small business, save money, and turn a profit. There is an easier way to run your business, do what you love, and track expenses.
Independent Contractors How to calculate taxes
If you have your own small business and offer services, you could be an independent contractor. Before the end of 2009, calculate what your personal income tax will be. If you have not made tax deposits, it's a good idea to make personal federal tax deposits before December 31st to avoid any penalties.
Calculate the tax due on contract work
Calculate the tax due on contract work
Get Your Business Out of Debt
If your business profit is on the downward path, review the key elements of your financial information. Review your Accounts Receivable for slow pays. Look over your vendor month end statements for invoices you already paid, or duplicate bills.
Review your selling, and administrative costs. Look at the details. You'd be surprised how much you can save with a simple analysis of your business expenses.
For information and a detailed guide, How to Get Your Small Business Out of Debt provides a detailed step by step program to get your business out of debt.
Review your selling, and administrative costs. Look at the details. You'd be surprised how much you can save with a simple analysis of your business expenses.
For information and a detailed guide, How to Get Your Small Business Out of Debt provides a detailed step by step program to get your business out of debt.
QuickBooks Easy to Use Easy to Misuse
QuickBooks for accounting and business is very friendly. Setups are done with walk-through promts. The HELP funtion is easy to read. But sometimes difficult to navigate.
QuickBooks promotes this product as user-friendly, and it is, for standard accounting functions. When using the more complicated functions for inventory, it's important to spend some time reading the HELP articles to understand the logic of QuickBooks. Each module, such as Accounts Receivable, Sales Orders, and Inventory, are dependent on the proper setup.
There are also some problems users don't pick up on until it's too late. For a summary of the common problems and solutions, review my article QuickBooks Problems.
If you have any questions, please email me, using the form on the website Penstruckbiz.com. I will be happy to help you.
QuickBooks promotes this product as user-friendly, and it is, for standard accounting functions. When using the more complicated functions for inventory, it's important to spend some time reading the HELP articles to understand the logic of QuickBooks. Each module, such as Accounts Receivable, Sales Orders, and Inventory, are dependent on the proper setup.
There are also some problems users don't pick up on until it's too late. For a summary of the common problems and solutions, review my article QuickBooks Problems.
If you have any questions, please email me, using the form on the website Penstruckbiz.com. I will be happy to help you.
Working from Home takes discipline
I work from home, and it can be challenging. I babysit a two year old, perform accounting and payroll for clients, and freelance for Examiner, Demand Studios and other sites. I have been letting my blogs slide. Try chasing a two year old between calculating and trying to formulate a thought!
I found an article in my email this morning. I subscribe to several newsletters in an attempt to remain in contact with the world, and gain knowledge. The article is 10 Tips to Make Working from Home More Productive,
This article contained great information. Some items I knew, but didn't practice. I only tracked my time when I was doing client accounting work, but it's makes sense to track how long it takes to research and write my articles. One article really can take 4 or 5 hours.
When I write for Parenting Teens, I don't want to through out the same old stuff. Some of what I find is a little verbage, and a lot of advertisement. Some just repeats what others say. I want to give new information to readers.
Working from home is okay. Learning to control time, remain productive, and maintain a semblence of work hours, with start and stop times, is a little harder to do.
I found an article in my email this morning. I subscribe to several newsletters in an attempt to remain in contact with the world, and gain knowledge. The article is 10 Tips to Make Working from Home More Productive,
This article contained great information. Some items I knew, but didn't practice. I only tracked my time when I was doing client accounting work, but it's makes sense to track how long it takes to research and write my articles. One article really can take 4 or 5 hours.
When I write for Parenting Teens, I don't want to through out the same old stuff. Some of what I find is a little verbage, and a lot of advertisement. Some just repeats what others say. I want to give new information to readers.
Working from home is okay. Learning to control time, remain productive, and maintain a semblence of work hours, with start and stop times, is a little harder to do.
Why get a financial statement audit
Has your bank or another creditor asked you for a set of audited financial statements? Ever wonder why?
When you contract a CPA to audit your statements, the CPA firm tests for proper accounting practice. They also test to make sure all of the transactions are recorded. Then they issue a letter, which is an attestation, which says whether your current practices are in line with GAAP.
To find out more about financial statement objective, read Objectives of a Financial Statement Audit.
When you contract a CPA to audit your statements, the CPA firm tests for proper accounting practice. They also test to make sure all of the transactions are recorded. Then they issue a letter, which is an attestation, which says whether your current practices are in line with GAAP.
To find out more about financial statement objective, read Objectives of a Financial Statement Audit.
Credit card debt-How to avoid it
Most people think the only way to establish credit is to get and use credit cards. But these convenience cards can be deadly if not managed. For businesses, a line of credit may be a better consideration. The bank will stop you when you reach your limit. Credit card companies just smile and raise your spending limit.
For new small businesses, consider the alternatives to establishing credit without using a credit card. While this is a slower process, there are real advantages.
You cannot spend more than you make.
You have to budget your money.
You will have a better relationship with your bank.
You will learn to adjust your markup to reflect the costs, and cover your debt.
Your business can benefit from this. As it grows, you will have a solid, clean credit history when it matters. You will have learned the difference between want and need. Yes, even business owners get caught up in this cycle.
For example, you may not need a laptop on every desk, and a slick server. You could get by with cheaper desktops, and a tower with server software and enough memory. You could learn that not all employees need Internet access daily to do their jobs. Email access is sufficient.
This is a term known as 'bootstrapping'. Once a popular buzzword, and a term of honor, in some business circles, it is unpopular. We concentrate so much on employee satisfaction, we forget that a simple 'thank you', or 'good job' does more for a person than Internet and laptops.
Say "Thank You" more to your employees, and spend less.
For new small businesses, consider the alternatives to establishing credit without using a credit card. While this is a slower process, there are real advantages.
You cannot spend more than you make.
You have to budget your money.
You will have a better relationship with your bank.
You will learn to adjust your markup to reflect the costs, and cover your debt.
Your business can benefit from this. As it grows, you will have a solid, clean credit history when it matters. You will have learned the difference between want and need. Yes, even business owners get caught up in this cycle.
For example, you may not need a laptop on every desk, and a slick server. You could get by with cheaper desktops, and a tower with server software and enough memory. You could learn that not all employees need Internet access daily to do their jobs. Email access is sufficient.
This is a term known as 'bootstrapping'. Once a popular buzzword, and a term of honor, in some business circles, it is unpopular. We concentrate so much on employee satisfaction, we forget that a simple 'thank you', or 'good job' does more for a person than Internet and laptops.
Say "Thank You" more to your employees, and spend less.
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