Learning these 6 simple financial ratios will help monitor the health of your business, and prepare you to make accurate decisions in the future. In this article, we go over operating cash on hand, Months of Operating Costs in Lines of Credit Available, Working Capital Ratio, Accounts Receivable Turnover Ratio, and how to calculate Accounts Receivable Days.
Many of the common issues I discover when cleaning up a new client’s QuickBooks account has to do the processes surrounding receiving customers’ payments and depositing them. In order to properly record deposits in Quickbooks, you have to create an Other Current Assets account called Undeposited Funds. Learn more in this article!
How To Correctly Use Classes In QuickBooks with the use of the class feature in QuickBooks. Users will be able to achieve both goals at the same time by turning on classes within QuickBooks produces a P&L with multiple columns.
When you own your own business there are more insurances that you have to think of than if you were to be an employee of a company. Not only do you have to obtain your own medical, dental and vision insurance, but you have to consider the necessity of many other business insurance offerings.
Throughout the year we see clients using PayPal in various ways which brings up a series of questions surrounding how PayPal integrates with QuickBooks Online (QBO). In this blog post let’s explore a few of the bigger questions that arise. Q: Do I need to formally add my PayPal account to the Chart of Accounts …
It’s not a frequent occurrence, but it’s happened to me three times in the past year among my various clients. The scenario is my client has an open invoice and an open bill recorded in their QuickBooks. My client’s customer, instead of paying my client directly instead sends the payment to my client’s vendor. So …
There are minimum requirements when recording payroll expenses and then there are extras that you might consider including for improved reporting. If your payroll software doesn’t automatically import an entry into your accounting software every time you run payroll, you might want to consider my favorite payroll provider that does this for free. In the …
Everyone knows what an accountant generally does — work with money and numbers. But the field of accounting is actually extraordinarily broad and diverse. While you may know that you need an accountant, you may not know the difference between an accountant and a certified accountant, or what kind of services they can offer you. …
The IRS has released its long-awaited changes to Form W-4. This will affect both accounting and human resource professionals as well as all employees needing to make changes to their tax withholding and those taking new jobs in 2020. View the new IRS w4 form here. You don’t have to have all your employees fill …
Share on facebook Facebook Share on twitter Twitter Share on linkedin LinkedIn Billable Expenses: A Guide from Your QuickBooks Trainer Recurring vs. One-Time A lot of service professionals spend a lot of time and energy passing on expenses to their customers. Maybe you’re an interior designer and you buy furniture for your clients, then pass …