Saturday, December 30, 2017

How Accounting Services Can Help a Small Business


Accounting services aren't just for multi-million dollar corporations. From startups to established family businesses, using an accountant to keep track of income, expenses and taxes can help any company reach its potential. Here are five reasons for any business to consider outsourcing their bookkeeping to a premier accounting provider.

1. Free Up Employees

A company may not have enough paperwork to justify a full-time accounting position. However, when non-accountant employees have to split their time between balancing the books and performing their other duties, they are unable to be as effective as employees who only have to concentrate on one job. By hiring a financial management firm to take care of their accounts, the company allows employees to do the jobs they were hired for.

2. Ensure Accuracy

Keeping up with accounts payable, accounts receivable, tax documents and other financial information can be complicated. Good accounting services employ Certified Professional Accountants, or CPAs, who are licensed and highly trained. By employing a numbers expert, a company is helping to ensure the accuracy of their books. This can help avoid costly mistakes that may lead to litigation or even the closure of the business.

3. Stay Up-To-Date

Tax laws and local regulations change frequently, and it can be hard to keep track of all the updates. Also, if a business is growing quickly, it can be difficult to keep track of the different laws that may apply at different stages of growth. A company can help ensure they stay in compliance by employing a dedicated firm whose sole responsibility is understanding these regulations. The accountant can make recommendations to the business owner about any changes that need to be made or upcoming financial legislation that may be relevant.

4. Limit Liability

Many accounting services provide some guarantee for their work within the initial contract. This means that if discrepancies occur, the service provider will be liable for any mistakes that are found. However, financial disputes can tie up working capital for long periods of time, so it's still important to do due diligence and choose a firm with a good reputation and solid experience.

5. Plan Ahead

Financial experts will understand all sides of a company's financial picture, including upcoming budgets. Expert financial analysis can help create a more balanced budget, making it easier to plan future expansions or, if necessary, cutbacks. With proper forecasting, a business will be more likely to have appropriate inventory on hand, have enough funds for payroll, and pay enough quarterly taxes, to name a few examples.

With these tips, a business owner can see why it's important to outsource their bookkeeping to a professional service provider.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

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Wednesday, December 27, 2017

New Year's Resolutions Usually Fail - Yours Don't Have To | Forbes


Setting year-long goals are ineffective, say BestSelf Co. cofounders Allen Brouwer and Cathryn Levery. Instead, try these goal-setting tricks that will help you stick to your New Year's resolution.

Sunday, December 24, 2017

Thursday, December 21, 2017

Why You Need to Stop Killing Time


Killing time is a vicious cycle. What starts as a short break browsing online, can turn into hours wasted. It feeds your lack of action and interrupts your workflow. In this video, I will teach you how to increase your productivity and move closer toward your goals just by managing what you are doing and when you are doing it.

Monday, December 18, 2017

5 Accounting Tips That Will Help Your Small Business


Running a small business means staying focused on your finances. Without proper management of receivables, marketing expenses and even debts, you could end up sinking the small business before it even starts to grow. Luckily, there is always something you can do to ensure that such risks are prevented. You can create and implement simple bookkeeping strategies to save your business and help it grow to its full potential.

1. Weigh your options

Is it better to get a bookkeeper or can you handle accounting by yourself? This is the question you should start by asking yourself before anything else. Cutting costs is definitely what you are prioritizing as a small business, but helps to handle what you can and leave experts to do what they do best. You can hire accountancy services to help you get your finances in order without spending too much on the services. There are numerous accountancy firms today and most offer all sorts of accounting services at affordable rates so you can easily get what you need as a small business.

2. Separate accounts receivables from borrowed funds

Financial backing or loans are beneficial to small business to aid marketing campaigns and even capital among other things, that the business needs in the initial stages. Get organized and keep the loans separate so they do not appear in your receivables because then you can easily get confused as to what is yours and what you need to pay back. There are very good easy to use software you can use for this task to keep everything organized and clear to you.

3. Keep an eye on your balances

Large amounts on your receivable column can be a good thing indicating that your business is doing well, but it is a different case when the money does not end up reflecting in your business account. Clients can be tricky and can avoid payments and when this happens regularly then your business remains at risk. Put in strict policies or terms so that you are able to receive due payments at the right time. You might be desperate to get clients, but you can't do it at the expense of your growing business; if you must refuse to give more services or materials until pending payments are made.

4. Keep track of your daily expenses

Everyday expenses records are very important for all kinds of business, but more so the small businesses. Keeping track of your daily expenses does not only help in clearly knowing where your money is but also puts you in a better position to budget for the weeks ahead.

5. Know your minimum monthly profit

Even the smallest businesses require running strategies and when you have an accurate system in place, then you will manage to keep things in order. Calculate your expenses and regular obligations so you know the minimum income needed every month. Have a target in terms of how much you should earn every month, so the numbers don't get too confusing.

Article Source: http://EzineArticles.com/expert/Jovia_D'Souza/2007086

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Friday, December 15, 2017

How To Set Up And Automate QuickBooks Payments


QuickBooks Payments makes it easy for your customers to pay you with credit cards or bank transfers. We’ll show you how to set up QuickBooks payments and even automate payments so you never miss a transaction.

Tuesday, December 12, 2017

7 Little Habits That Kill Your Productivity at Work


The research is in and it turns out employees are wasting more time than ever before. If you feel like you don't have enough time to get things done at work, you need to take a closer look at your habits. These habits specifically.

Saturday, December 9, 2017

Three Reasons Why Businesses Need to Use Bookkeeping Services


Along with actually running the day-to-day operations of a store, franchise, or company, there is also the financial paperwork, which has to be completed just right or you could face serious legal consequences. Owners need to keep track of expenses, salaries, profits, insurance, taxes, and tax breaks. The best way to handle these details is to hire professionals. Here are three reasons why bookkeeping services can help you.

Accuracy When It Matters

First off, unless you have a CPA license, bookkeeping services will handle your accounting more accurately and promptly than if you attempt to do it yourself. Trained professionals complete this type of work every single day and can focus on each and every detail. Depending on the type of business and size, there are certain accounting methods that can be utilized to maintain records. Private firms can analyze your company and figure out which organization method will be most accurate for your finances. You will always have an up-to-date idea of how your business is doing financially, and what you can and cannot afford. Furthermore, a firm can complete these tasks quicker than the average owner.

Save Valuable Time

Secondly, doing your own accounting and tax filing takes time. In some cases, it takes a lot of time. The time it takes you to crunch numbers can impact the day-to-day operations of your company. Bookkeeping services can take this extra work off of your plate. This will allow you to focus your energy on your overall vision for your store or company, rather than on the little details. So while a professional firm may initially seem expensive, you must consider how much more money you can bring in by not spending hours every week on your books.

Avoid Potential Conflicts

Hiring bookkeeping services is ideal if there are any potential conflicts of interest. If your company is a partnership or has a complex business arrangement, there could be multiple parties with an interest in your venture's accounting. By bringing in an outside firm, all partners can be assured that the numbers come from an independent source with no preference. Along with ensuring you receive the correct numbers, this will also help prevent any potential suspicion between partners.

In short, hiring bookkeeping services can be an excellent way to keep your business running smoothly. When tax season comes around, having kept accurate records will make filing your returns much easier, which is one less thing a business owner needs to stress about.

Article Source: http://EzineArticles.com/expert/Abraham_Avotina/663190

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Wednesday, December 6, 2017

9 Stress Reducing Tips for Busy Professionals


I know first-hand how stressful and exhausting having a busy lifestyle can be. But I also know first-hand how to make sure you don’t burn out or find yourself helpless, irritable, and unhappy. Here are my top stress reducing tips.

Sunday, December 3, 2017

Export Your QuickBooks Desktop Company File


So you're ready to switch from your old QuickBooks to QuickBooks online. Great!

First, you need to export your QuickBooks desktop company file to QuickBooks online.

Doing this export doesn't change or harm your QuickBooks desktop company file. It just copies it and adds the copy to your QuickBooks Online account. You can still use QuickBooks desktop just like you always have. We'll show you how in this video tutorial.

Thursday, November 30, 2017

Bookkeeping Service - Know What to Look For


Outsourcing your tax and bookkeeping needs to a professional service can be a great way to save yourself and your company lots of money and time. It can also be a disaster if you do not carefully screen the potential bookkeeping services and find one that is competent and qualified.

There are several personality traits that are associated with excellent bookkeepers and you should try to find a service that employs people with these skills and talents.

For starters, a good bookkeeping service will have individuals on staff that is passionate about what they do. That means that the bookkeepers love dealing with numbers and math. They should have a great grasp of the relevant mathematical concepts and love finding the errors in sums and calculations.

Another important quality for good bookkeepers to have is a penchant for details. This requires looking over and paying attention to Lots of details, and it those details that will make a big difference in whether your company gains or loses money. You want to choose a bookkeeping service that employs people who are good at reading the fine print, and sorting out the important and necessary information from the irrelevant data.

Using time effectively is also an essential characteristic of a top quality bookkeeping service. Since you are paying the service to take care of your books and ultimately save you money, you should expect the bookkeepers to know how to efficiently manage their time to make the most of your money.

This means that they must be able to prioritize all the required tasks and be able to give full attention to each task at a time. They should also plan enough time into their schedule to look for problems and mistakes and to fix or solve them. An especially good service will require its employees to keep an audit of their own time spent on your accounting projects.

Technologically Savvy

Fortunately, most of these services today are technologically savvy because they have to be in order to be competitive. The nature of business and finance today is all electronic and automated, so it is important to find a bookkeeper who is up to date with all the pertinent software.

It also helps if he or she is well versed enough in technical things in order to be able to troubleshoot any problems that come up. Finally, the right bookkeeping service will keep a full staff of very analytically-minded employees. This means they are able to review all the information and data from your business and understand the big picture and how each component of your finances affects the others.

They should be able to offer advice for future bookkeeping and financial decisions based on all the information they analyze. The best way to find a service with all the right qualities is to conduct in-person interviews and ask specific questions that will help you detect the presence or absence of the required characteristics.

After interviewing several bookkeeping services, you should be able to narrow it down to the one that seems most aware of the essential qualities needed to effectively take care of your finances.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

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Monday, November 27, 2017

How to Become More Productive


Have you ever wondered how to increase productivity? Whether you are an entrepreneur, business owner, or just trying to be more productive on any given day, I have 5 tips to help you become an all around more productive person.

Friday, November 24, 2017

Tuesday, November 21, 2017

Why Productive People Are Happier People


If life is getting you down, you may need to get busy. All-too-often people think that busyness is the cause of their stress, when in reality, being more productive may be the answer you’re looking for. Here are 6 reasons why the more productive you are, the happier you'll be.

Saturday, November 18, 2017

Online Banking in QuickBooks


Connecting your bank and credit card accounts to QuickBooks eliminates tons of data entry and keeps your business's books up to date all the time. Here's how.

Wednesday, November 15, 2017

How to Work Smarter, Not Harder


The most successful and wealthiest people all practice the habits I am about to share with you on a daily basis. Adding these daily success habits to your own routine will contribute greatly to your achievement.

Sunday, November 12, 2017

14 Default Roles Created in Quickbooks Enterprise 17.0


Please enjoy the attached guide to learn more about the 14 default roles created in QuickBooks Enterprise 17.0.

To maintain desired security and confidentiality of your data file, assign each user to their own username/password and discourage sharing passwords. Each user can be assigned to one or more roles as shown below, or you may create a custom role for a specific purpose. NOTE: “View-only” permissions will provide the user with view access to everything in the file – including banking and payroll data. Use this one sparingly!

Another tip I have for you is regarding “full access” – this one never ceases to trip me up when I least expect it. Full access doesn’t allow that user the ability to view the insights page, create a closing date, launch advanced reporting or view the income tracker or bill tracker. If you want the user with “full access” to be able to do these things, you will need to create a new role, or edit the default permissions in the full access role under the Company radio button.

If you have any questions about implementing roles or any other aspect of QuickBooks security, please don’t hesitate to contact us.

CLICK HERE TO READ AND DOWNLOAD ENTIRE GUIDE

Thursday, November 9, 2017

Things to Look For in a Bookkeeping Service


A business owner has a multitude of duties in running their company. If it is a small business, chances are that the owner is doing a bit of just about everything including hiring, firing, tending to customers, stocking inventory and handling the financial books.

A larger company may have someone on staff that tends to the ledgers but employee turnover can lead to constant headaches and retraining. If this important chore is turned over to a service which specializes in just this, it can certainly streamline the workings of a company.

Things to look for when you're thinking of outsourcing your accounting include:

- Reputation: How long has this bookkeeping service been in business? How many clients do they serve and for how long? Can they give references? Getting a word of mouth referral from another business that is similar to yours is quite helpful.

- Experience: Do they have experience working with companies such as yours? Small or large, dry cleaners or telecoms, each type of business requires specific knowledge.

- Credentials of their staff: Who exactly will be working on this highly sensitive part of your company? What is their training? Has their background been checked out to assure their trustworthiness? Is a certified accountant overseeing the work?

- Cost and services included: There is a smorgasbord of services that may be offered, including payroll, state and federal tax preparation and payments, property taxes. What, specifically, is offered in each accounting package? How much can be accomplished online?

- Are they familiar with the tax laws in your state? Each state has a different set of tax laws. Make sure that the company you select is familiar with the rules and regulations in your particular state.

- Will they represent you in case of an audit? In case of a tax auditing of your business, will they prepare the paperwork and documents that you will need? Are they knowledgeable enough to back you up if necessary?

- Turnaround time: How long will it take to get paychecks to your employees or your company's taxes properly filed?

- User Friendly: Are they available when you have questions? Do they have adequate staff to help you when you need them? Are they able to explain their practices and procedures in a satisfactory manner? Do they seem like an easy fit and a company you'll feel comfortable doing business with? Along with everything else, compatibility is an important component of a successful business relationship.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

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Monday, November 6, 2017

Achieving Sales Success Without Compromising Integrity


Having honesty and integrity in the workplace is one of the most important qualities of great leadership in business. Leaders know that honesty and integrity are the foundations of leadership. Great leaders stand up for what they believe in.

Friday, November 3, 2017

YOUR NEW BILL PAY FEATURE IS ACTIVATED IN QUICKBOOKS!


How to Use and Troubleshoot QuickBooks Online Bill Pay Feature

Please read this entire document – this feature is nice but you will find that QuickBooks technical support people do not know much about the bill pay app, and the bill pay app people know nothing about the software. The bill pay app from “intuit” is not actually supported by Intuit. Reading this first will help you prevent problems.

First: Set up vendors properly to allow important information to flow out of QuickBooks and into the bill pay check cutting service. There are several REQUIRED fields in the vendor profile, show below.
Enter vendor bills into QuickBooks as they are received just as you normally would.
  • Ensure the vendor profile has everything you need for bill pay – see red arrows below. Click “Edit Vendor” from the Vendor center. In the “Address Info” tab, you MUST have Company Name, Phone and Address filled out; and “print on check as” should contain a vendor name if it’s something different. The vendor name is limited to no more than 30 characters and should not contain “special” characters like “& , %” This will cause an unglorious crash.
  • there is one more required piece of information – the account number you have with the vendor. This cannot be blank and must not contain special characters “& , “ etc. Otherwise this will cause QuickBooks to crash. Next, click the Additional Info Tab shown below. You MUST have an account number filled in (this is the number the vendor assigns to your account, for example a Verizon account number or a Comcast account number). This will print on your check to ensure proper credit to your account. If you don’t have one, enter your name or something so that vendors will recognize your payment. It is also highly recommended (but not necessary for bill pay) that you enter the vendors Tax ID. This greatly reduces effort required for end of the year 1099 printing and E-filing directly out of QuickBooks!

You’re almost done!

CLICK HERE TO CONTINUE READING AND DOWNLOAD COMPLETE ARTICLE

Tuesday, October 31, 2017

Simple Accounting Terms


There are literally thousands of accounting terms, and if you are an accountant, of course you are familiar with them all. For the rest of us, there are certain things that we should be at least a little familiar with, after all, if we handle the household budget on a monthly basis we are actually doing a little accounting of our own.

An accountant is someone who is highly skilled in recording and reporting financial transactions, possibly having to report to numerous people within the company, keeping them abreast of how it is going financially and being the one who deals with the tax collection agencies and other outside forces.

An account payable is something that sounds exactly what it is. It an amount owed to a creditor for goods and/or services. In a grocery store your account payable would be the price of a dozen eggs or a loaf of bread. In an office setting it could be the amount owed for new office furniture or the rent on the building.

An account receivable on the other hand is a claim against a debtor for the uncollected amount. As an accountant, you are looking to receive this debt at some time or another, and then it will become a balanced sheet once again. If, for whatever reason this debt can never be collected, it is considered a bad debt--it is not receivable.

Which brings us to balance. What is a balance? Well, it's a basic financial statement that shows who owes what and who has paid what up to that date. The bottom line, similarly is the financial statement that shows net income or loss from one date to another.

We all want a positive cash flow. This means that we have money and we are spending less than we are making. A cash flow, by definition is the net of cash receipts and cash disbursements relating to a particular activity during a certain period whether that period be a week, a month or a year.

A bookkeeper is sometimes referred to as an accountant, and while they do some of the same things, a bookkeeper really just, well, keeps the books. That is, they record the financial transactions of a company or business. They keep note of what goes in and what comes out in the hopes of maintaining a balanced account, and sufficient cash flow at all times.

Article Source: http://EzineArticles.com/expert/Amanda_J_Hales/1311545

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Saturday, October 28, 2017

What It Takes to Be a Successful Entrepreneur


Entrepreneurs have the potential to radically improve the world and one of the most important elements of successful entrepreneurship is loving what you do. In this video, I'll share the key habits and values that make aspiring entrepreneurs more successful.

Wednesday, October 25, 2017

TEN YELLOW FLAGS TO IDENTIFY POSSIBLE FRAUD


The warning signs of possible theft or other criminal activity aren’t always easy to spot. Sometimes there’s no forewarning. But, internal theft is different. The warning signs are almost always right in front of us – if we’re paying attention. And given that research suggests 1 in 3 employees steal if given the opportunity, employers should pay attention. Losses due to employee theft of cash and property can be staggering. Small businesses may collapse, while the profits of large businesses take a huge hit. Consider these statistics:

  • The U.S. Chamber of Commerce estimates that employee theft costs American employers more than $50 billion dollars each year.
  • In a study conducted last year by The Chubb Group of Insurance Companies, executives of 60 percent of the companies surveyed said they expected their employees to steal money or equipment.
  • Another study conducted by The Chubb Group in 2004 found that 39 percent of private companies had employees who stole company funds, equipment, or merchandise.
  • The Association of Certified Fraud Examiner’s Report in 2016 showed the frequency of fraud is at 37.7% of small businesses, compared to 20.8% of large businesses.

Background checks, reference checks, screening tools and other hiring instruments can help but shouldn’t be used entirely. Corporate fraud is one of least often prosecuted crime offenses, meaning background checks will not identify someone with prior activity. Fraud is a crime of opportunity and the number one deterrent is the fear of being caught. Awareness and insistence on regular review of your financial reports will not only help you make management decisions, but will also more than likely be the best deterrent to fraud you could hope for.

The manager-employee relationship can make the warning signs of employee theft difficult to spot. Managers who work to build trust with their employees don’t allow themselves to question what may be in front of them. The relationship clouds their judgment and the resulting denial can be a powerful blinder.

That’s why awareness is critical. Regardless of the trust you have for your employees – question what doesn’t seem right. Start with these potential signs of potential employee theft:

AWARENESS IS KEY

1. Slow or sloppy financial reporting. Proper accounting is a critically important function for a business. Don’t accept excuses for not receiving timely financial reports that make sense. Insist on receiving comparative financial reports, cash reconciliation reports, accounts receivable reports and job costing reports. Be cognizant of changes in expenses and income, particularly payroll and recurring expenses. If your accounting team can’t provide these reports in a timely manner, get them the proper training or hire someone who can. Insist on 7×24 access to your books and that backup for expenses is easy to audit.

2. Excessive Possessiveness: Bookkeepers with nothing to hide welcome involvement in financial reporting and recognize there are multiple stakeholders receiving information from accounting in order to make proper business decisions. A bookkeeper who hoards access to QuickBooks, banking, refuses to allow a backup employee access to basic accounting functions even if they are on vacation, is a yellow flag. Note, this does NOT mean passwords should be shared. However, the business owner should have access to the administrative password for QuickBooks and all banking functions, and should be able to delegate shared accounting functions with unique usernames/passwords if that delegation provides continuity and checks/balances.

3. Big-ticket purchases or significant change in employee spending habits or lifestyle. This isn’t about the employee who buys a new car after saving for a year. It’s about the employee who buys a new luxury car even though she’s always talking about barely having enough money to pay the bills and put food on the table. It’s about the guy who buys a new big screen TV even though he counts down the hours until he receives his paycheck so he can put gas in his car. This alone doesn’t mean your employee is stealing from you. The point is this: a significant change is a yellow flag. Use it to stop and think about what else is going on around you.

4. Change in work habits. Employees who make significant changes in their work habits, arriving significantly early or leaving significantly late, or always looks for ways to work independently or unsupervised, should cause you to wonder why. Excessive unexplained absences may indicate a substance abuse problem, moonlighting or guilt. Likewise, bookkeepers or inventory clerks who NEVER take absences may be completely honest and trustworthy, yet it also may signal someone who doesn’t want their work exposed to a substitute.

5. Problems with payroll, travel, and expense records. We all make mistakes. But accounting discrepancies should be tracked. Is there a question about hours worked versus hours paid? Did she lose a receipt? Did he forget to reconcile petty cash? Did she exceed the entertainment stipend with clients? Did he forget to itemize his expenses? Give your employee the benefit of the doubt the first time. But, if it happens again, pay attention. This is where small companies which don’t have specific accounting practices or well defined policies about travel and expenses, can get in trouble. Always have checks and balances in place when it comes to bill pay, account reconciliation, accounting software security.

6. Missing items. E-Bay and Craigslist didn’t gain all of their popularity due to garage clean outs. Ever wonder where those incredibly inexpensive “in the box” computer or hardware gadgets comes from?? If you thought you ordered 15 laptops, you probably did. Use Purchase Orders and inventory tracking and regular physical audits of your inventory to detect missing items. Avoid accidental pallets “falling off” the loading dock, multiple item shipments “damaged” or lost in shipping. One theft scheme involved unloading new merchandise while “throwing out” the “old” packing material in a trash bin so it could be picked up after hours. Problem was – it contained the new items.

7. Suspicious cars, especially cars parked near back doors or dumpsters. This seems like common sense, but how often do you drive around or look outside to see what’s going on in the more isolated areas of your workplace such as loading docks? It’s probably a matter of security to do so at shift’s end or at the end of the workday, but consider impromptu check-ins during the day or near the end of the workday.

8. Pattern of friends or family showing up, or family and friends who insist they only go through employee’s checkout line. Internal theft isn’t always a solo operation. Watch buddies who come in and only want to go through their friend’s line. If they came in for an innocent hello, they shouldn’t care about going through someone else’s line before chatting for a few minutes. If it’s a one-time situation, it’s probably nothing. But, if it becomes a regular thing, question what’s going on.

9. Change in voids, over rings, cash drawer over/shorts. Look for patterns. A pattern of shortages, especially in whole dollar amounts, may mean your employee is stealing directly from the drawer. A pattern of over rings may mean your employee is pocketing cash payments. In particular, be wary of any employee who tends to pile merchandise in front of the register while taking care of customers. The blocked register view gives an employee the opportunity to ring up less than charged or to over ring something secretively and pocket the difference.

10. Lack of Checks and Balances: Ultimately, fraud can happen by unauthorized use of the company’s cash and/or diverting receipts from clients that are due to the company. The vast majority of fraud occurs because the opportunity is there and they feel they won’t get caught. A business owner should review their procedures for documenting and controlling all cash outflows – payroll, checks, credit cards, wire transfers, bill payments and or manipulation of billing invoices. Most small businesses cannot afford an accounting team with properly designed checks and balances but being a victim is even more costly. Consider hiring a third party to review and close books on a regular basis that will help validate the financial reports, and act as another set of eyes on your accounting team.

Sunday, October 22, 2017

Five Reasons Why Businesses Should Hire Accountants


For many small-business owners, taxes are a point of stress. Changing guidelines and regulations can make the process of filing a difficult process for small-business owners, but hiring an experienced team of accountants can take the worry and stress out of tax season. Here are a few signs it's time to hire an accountant.

The Business Is Growing

All owners strive to have a growing business, but this can spell confusion come tax time. As revenue increases, tax liability increases. However, the number of deductions the business may qualify for can increase as well. An experienced team of accountants can help determine which deductions will benefit the business and make recommendations for future deductions based on the projected growth of the company.

Managers Are Too Busy for Bookkeeping

The path towards proper tax preparation depends upon accurate bookkeeping. If the enterprise is too busy or growing rapidly, an accountant can help with bookkeeping. The right firm will be able to keep track of the books so the managers and owners can devote their time to growing their client base. The more time they can spend on operations and management, the better the company can function.

Profits Aren't Increasing Along with Revenue

An increase in revenue does not automatically mean an increase in profits. Accountants do more than handle tax preparation-they examine overhead costs and look for areas of improvement. If they see a particular expense that can be eliminated or reduced, they'll advise the company.

Demanding Investors

Investors place their money in a company if they believe it will be successful, but their support is often contingent on a degree of involvement. Many investors expect the owner to provide them with professionally prepared financial statements. These statements should give the investors an idea of the company's performance, the way their contributions have impacted the business and if they can expect any returns on their investment. Unless the owner or management team is familiar with preparing these statements, the process can take a while.

The Government Requests an Audit

Audits strike fear in the hearts of many taxpayers, and when individuals are unprepared for them, it can seem like the most daunting part of being a business owner. A team of financial professionals who are familiar with the audit process can help companies navigate the process, reducing the stress associated with government audits. Best of all, they understand the tax code and will work to make sure the audit is done correctly.

When companies are starting out, they may struggle to keep up with the financial expectations required by the government. For financial professionals, the goal is to help the business be as successful as possible by reducing the strain and stress associated with bookkeeping, taxes and financial records. Owners should be able to focus on running and growing their client base, not on keeping track of expenses and overhead costs. A dedicated team of financial professionals will help operations of any size continue to grow and thrive.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

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Thursday, October 19, 2017

How to Reconcile Your Accounts in QuickBooks


Whether you connect your bank accounts or do it the old fashioned way, here's how you reconcile an account in QuickBooks.

Monday, October 16, 2017

Bookkeeping Services - Let a Professional Handle Your Accounts


Many use bookkeeping services, especially if they have companies or organizations. Before using this sort of company, make sure it is reputable and follows all rules and guidelines.

Those who have bookkeeping companies help record the value, assets, liabilities, income and expenses in a ledger or journal. The individual will post entries debit and credit entries chronologically in the journal. Those who have companies or organizations usually need bookkeepers. Others decide to use individual or family bookkeepers to track the income and expenses of the family using a register.

Before, these professionals did their services using a paper and pen but now there is advance software which can help with bookkeeping. Many people either use a single entry or double entry system. A single entry system uses information found in the income and expense account while a double entry system forces the individual to post the entry twice as either a debit or a credit. An accountant on the other hand prepares the income state and balance sheet using information prepared by a bookkeeper.

There are also online booking companies, which have become very popular recently. Online bookkeeping allows your information to be kept and tabulated on the web. This will allow you to choose a bookkeeping company that does not necessarily live in your immediate area but somewhere else, as long as they have access to your paperwork and receipts regularly.

If you are a company who has a lot of mobile employees, they can scan and send receipts to the remote place and get reimbursed quickly. Also you if you have more than one office, online booking can be ideal. Most entries made are recorded and stored remotely and you can access the software anywhere in the world and check all of your entries.

If you decide to use bookkeeping services, ask your friends, professional peers or relatives if they have any recommendations. Before hiring anyone, make sure they have years of experience in the field and can provide you with references which you can call. Rates for bookkeepers can vary depending on the experience of the individual, the location of the business and the software used so make sure you use someone who is in your price range.

If you use an outside company to handle your accounts, you may save money in the end. If you are a small business, you do not need full time employees who handle your journals which mean you can save on payroll as well as overhead costs, which can free up your schedule and allow you to focus on important things instead of bookkeeping problems. You can allow professionals to handle your needs who can produce desired results efficiently and effectively.

If you choose to hire a company who specializes in bookkeeping, make sure you investigate them thoroughly to make sure they can meet your goals and expectations. Ultimately a good bookkeeping company can handle all of your bookkeeping needs and allow you time to focus on developing and running your business.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

Article Source: http://EzineArticles.com/1879380

Friday, October 13, 2017

10 Inspiring Quotes to Help You Get Through Your Day


Re-energize your day or week with these inspiring quotes from some of the world's greatest thinkers.

Tuesday, October 10, 2017

22 Tips to Prevent Bookkeeping Fraud


Maintaining a QuickBooks data file alone cannot eliminate bookkeeping fraud and embezzlement, but when its security features are used properly in conjunction with good business practices, the combination can make theft significantly more difficult and less tempting in a difficult economic environment. Prevent bookkeeping fraud and use these 22 best practices for eliminating, deterring and detecting company theft.

1. Use double entry accounting for all client receivables.
Make sure all client payments are made against invoices. Ensure the business owner or only trusted advisors have access to handling client payments or they go to a secure location and immediately deposited. Large organizations almost always require payment remittance to a secure post office instead of getting mixed with general company mail. Closely examine aging reports, maintain client contact to ensure payments have not been remitted but not credited against their account.

2. Perform Bank Reconciliations Once a Month for Each Bank and Credit Card Account.
ALWAYS use a different individual for posting payments and receivables than the person who is responsible for catching discrepancies through reconciliations. Likewise, responsibility for reconciling the credit card should lie with a person without authority to utilize the credit card. Promptly review any bank reconciliation discrepancies with the business owner(s). In particular, manually calculate “merchant fees” on credit card deposits to ensure that withdrawals batched with the credit card deposits are reasonable merchant fees and are not hidden refunds to a third party not recorded on the books.

3. Implement an Expense and Reimbursement Policy.
All credit cards should be directly billed to the employee rather than to the company. Design expense reports for each employee to turn in with original receipts with the proper coding. The policy for expenses should set a per diem limit to control the amount of cash being spent. An expense policy enables all employees and officers to know which expenses are eligible for reimbursement. Employees are subject to greater accountability for spending when they become responsible for writing the checks themselves to pay their credit card balance.

4. Limit Manual Checks.
Manual checks should be removed from the process as much as possible. Ensure bookkeepers with check creation capability do not have the ability to delete checks from the register and cannot print checks without saving them. Ensure the commercial bank account does not permit CASH debit cards or cash withdrawal and does not permit cash back on deposits. Blank checks should be kept in a secure location.

  • Missing Checks. At regular intervals, use QuickBooks reports to help review the clients’ exposure.
  • Voided/Deleted Transactions. For attempted tampering, more recent versions of QuickBooks software provide another protection. Now if someone prints a check from QuickBooks, it forces the transaction to be saved before being printed. Therefore, if a check is deleted from the system after it has been issued, it can still be found under the Reports menu, Accountant & Taxes, Voided/Deleted Transactions Report.
5. Create a Credit Card Account to Track Business Expenses.
In QuickBooks, create a Credit Card Liability type account in the Chart of Accounts for each business credit card. This will allow you to utilize Online Banking and download transactions on a daily basis to monitor the charges that are being made on the company’s behalf or uncover any potentially unauthorized transactions.

6. Ensure the Undeposited Funds Account Is Cleared; Move from Use of Clearing Accounts.
The Undeposited Funds account in QuickBooks should always be cleared to a Bank Account. You should review this account to ensure that the funds are being deposited into real corporate accounts rather than fake accounts in QuickBooks. Additionally clearing accounts can be another way to make it harder to trace transaction flows in QuickBooks.

7. Review Outstanding Checks and Deposits That Have Not Cleared the Bank and Are Aging.
Typically transactions clear a bank within 2-3 days. Aged outstanding checks or deposits should be reviewed to make sure that they are not duplicate transactions, errors or way to hide fraudulent activity such as deposits that are not real.

8. Utilize Online Banking to Match Expenses and Deposits Real-Time.
With the Online Banking feature, you can download transactions on a daily basis to stay on top of what has cleared the bank. The person cutting checks or making deposits should not be the person with access to Online Banking. Related duties can also be segregated among employees, so that one staff member enters Vendor Bills and another staff person uploads the Bills through Online Banking for payment.

9. Review Accounts Receivable Reports and Be Sure Customer Records Are Complete.
Customer collections are key to verifying that Sales recorded in QuickBooks are accurate. If collection calls are not made and the customer records are incomplete, there is no verification that the sale really occurred. Similarly, monitor the agency or person who’s duty it is to collect bad debt and implement checks and balances to ensure that debt that was previously written off was not collected later on behalf of the company and never received in the register.

10. Calculate Sales Commission on Cash Received, Not Accounts Receivable.
To help ensure that sales numbers are accurate and not inflated, commissions can be based on cash collected on Sales rather than open invoices. Sales Reps can be created in QuickBooks to track their sales and what has been collected. As an added benefit, this approach incentivizes the sales staff to help with collections.

11. Limit Permissions for People Entering the Bills So They Cannot Also Cut Checks.
Ensure that employees that are entering the bills are not the same people authorized to issue and sign checks for the company.

12. Use Purchase Orders for Inventory.
A company’s purchasing department should utilize Purchase Orders in QuickBooks to show that products or services requested are approved and quantities accurately reflect the individual price paid and number of items received. Physically account for inventory and ensure that one person is responsible for physically opening and counting inventory received, and that the Packing List matches the physical count and matches the Purchase Order and matches the vendor’s invoice.

13. Implement a Physical Inventory Count Periodically.
By performing a physical inventory, your client can stay on top of their inventory asset values to ensure inventory has not been stolen or is missing. Two people should do the inventory count together, if it is not done by the owner. Implement physical security and a “check out” procedure utilizing a bar code scanner or other secure method of tracking inventory assignments to locate missing inventory.

14. Ensure Vendor Records are Complete and W9’s Are Requested from All Vendors before Payments Are Issued.
Make sure to always request a W9 from a vendor before payment is issued. The information from the W9 will be entered into the Vendor record in QuickBooks in the Vendor Center. One person should be in charge of setting up vendors and a different person assigned to enter vendor bills. Ensuring you have a W9 on file is a great way to prevent “fake vendors” from being created.

15. Have Sign-off Approval before Checks Are Issued to Vendors.
Before vendor checks are printed or sent to Online Banking for payment, management should approve and sign off and authorize which bills are to be paid.

16. Eliminate or Track and Reconcile Petty Cash.
Petty cash can be set up as a Bank type account in the Chart of Accounts. This will enable it to have its own register like any other bank account. Expenses then are properly tracked and recorded, and transfers between the Bank account to Petty Cash are monitored.

17. Set User Permissions to Limit Access According to Job Description.
Under the Company menu, choose Set up Users and Passwords, Set up Users. The User Permission levels are very different depending on whether your client is on QuickBooks Pro/Premier versus Enterprise. No matter which version you are using, you should ensure that the permissions match a documented job description. Secure passwords should be set up for each user in the QuickBooks file.

18. Don’t Share Passwords!
Many clients share passwords, especially when they don’t set up users for each staff person or need Administrator access to make changes in QuickBooks, thereby losing control of permission security and audit trails of who has made which changes. Try your best to prohibit your clients from sharing their password, keeping it on a visible post it note, or giving out in any other way. It is recommended that only the Owner or someone in upper Management controls the Administrator password to make changes requested from QuickBooks users.

19. Set a Closing Date and Password.
Under the Company menu, choose Set Closing Date. Then choose the Set Closing Date button on the Accounting Preferences screen. After month-end procedures are completed, set a Closing Date and Secure Password so that other users in the QuickBooks file cannot modify the financial data.

20. Watch for Dates Being Changed on Transactions.
If someone has access to the Closing Date Password or the Password was not set, utilize the Closing Date Exception Report, found under the Reports menu, Accountant & Taxes. This report will help you track if any transactions had any changes such as date, amount, coding, etc. since a prior period was closed.

21. Utilize the Audit Trail Report.
Under the Reports menu,Accountant & Taxes, choose Audit Trail. This report will give you insight into anything that has been changed or modified. This report helps if you find a problem or have a concern about the accuracy of data entry. Additionally, it will let you know which user of the file made the change and when.

22. Perform a Physical Count of Fixed Assets at Least Once a Year.

The Fixed Assets of a company are often ignored. As a result, these important assets can sometimes “walk” and be expensive to replace. Utilize the Fixed Asset Item List to track the Fixed Assets of the company and keep a detailed sub-ledger.

These 22 tips will help you prevent fraudulent transactions, identify and prevent company theft, and help to ensure accurate and honest bookkeeping. If you would like help implementing these tips or would like a fraud prevention and bookkeeping consultation, visit our contact page or call us at (410) 715-3657.

Saturday, October 7, 2017

How to Enter Products and Services in QuickBooks


Need to enter information about your products or services into QuickBooks? Here's how to add it, or import it from an Excel spreadsheet.

Wednesday, October 4, 2017

3 Tips to Become a Better Leader


Entrepreneur Network partner Patrick Bet-David provides tips on how to become a better leader.

Sunday, October 1, 2017

Free Bookkeeping Consultation


Meet With A Certified QuickBooks ProAdvisor

Take control of your company’s financials and set up an appointment for a free bookkeeping consultation and customized quote.

  • Meet with a certified ProAdvisor.
  • Discuss your bookkeeping needs, goals & budget.
  • Recieve a customized bookkeeping proposal and quote.
  • Absolutely no obligation and nothing to lose!

If you are serious about reducing the hassle of bookkeeping and freeing up your time & money, contact us today!

Thursday, September 28, 2017

5 Steps to Set Achievable Financial Goals


Self-made millionaires all started with a dream that lead them to achieve the money goals they had set for themselves. Discover the 5 proven steps used by the most successful people in order to achieve wealth.

Monday, September 25, 2017

How to Add Customers and Vendors Into QuickBooks


A great way to start working in QuickBooks is to add your customers' and vendors' contact info. You can import a spreadsheet all at once or add customers one at a time.

Friday, September 22, 2017

The Benefits of Locally Outsourced Bookkeeping


Why Are Companies Outsourcing Bookkeeping?

Outsourced Bookkeeping Is Cost Effective

Employing a bookkeeper in-house can be expensive on many fronts. Consider the following costs in your evaluation of whether or not to outsource.

  • Direct costs: Salary, workers compensation, unemployment insurance, retirement, benefits, payroll taxes
  • Hiring & Management costs: Interview time, ad placement, background checks, training
  • Office space: physical office space to house your employee, part-time employee or temp employee
  • Equipment: computer maintenance for accounting system, backup solutions for critical accounting files, software license maintenance, software troubleshooting

Last but not least, consider the good practice of instilling checks and balances in your bookkeeping process. Many kinds of embezzlement can be avoided by balancing the workload between the account reconciliation process and independent individuals and/or to properly configure accounting package security protocols. So you must consider the direct and indirect costs above AND the costs of assigning another trusted employee or your personal involvement to provide EFFECTIVE oversight. At Turn Key Office, we have checks and balances in place to prevent many of these issues.

Outsourced Bookkeeping Reduces Your Year-End Work and Fees

Since we maintain your general ledger and amortization and depreciation schedules as part of the ongoing recording of data and preparation of documents, your year-end work can be significantly reduced. That translates into lower accounting fees and faster turnaround time in preparing tax returns and financial statements. Turn Key Office can work with your tax professional throughout the year to ensure that your books are tax ready.

Outsourcing Investment

Each business is unique. Turn Key Office calculates a monthly fee for each prospective client by actually diagnosing the existing accounting files, followed by a conference call with the owners and management team to review the results of the diagnosis.

Complimentary Proposal

For a free, no-obligation proposal, please contact us. We will be glad to help show you the services you can get and the savings you can achieve by outsourcing your accounting department to Turn Key Office.

Tuesday, September 19, 2017

Why Smart People Ignore Good Advice


Have you ever noticed that even the most intelligent people can sabotage their own success by discarding great advice?

Saturday, September 16, 2017

QuickBooks Overview


QuickBooks, the number one small business accounting solution, available on your desktop, tablet and phone.

Track all your sales and expenses, so you know exactly how well your business is doing. Stay on top of bills for all of your vendors and suppliers. Easily pay employees and run payroll taxes.

You can create professional estimates and invoices with custom logos and personalized messages. Accepting payments is easy, too — your customers can pay you through email, in person or even over the phone.

Get ready for tax time by saving all your receipts — just snap a picture and it will be sent to your account.

No matter what device you’re using QuickBooks on, your data is automatically backed up... and you are guaranteed bank-level security.

Wednesday, September 13, 2017

Access QuickBooks Files From Any Location


What is Hosted QuickBooks?

Hosted QuickBooks allows the user to access their QuickBooks files from any location, day or night, by logging into our server via a secure Internet connection. The software is installed and maintained on our dedicated servers so you always have the most up-to-date version of QuickBooks and you never have to worry about software or technical infrastructure upgrades again!

Why Choose Our Hosted QuickBooks Solution?

Save Time & Money on IT

Keep business costs from growing out of control through our hosted QuickBooks Enterprise services. You will save money and resources because there is no need for expensive IT employees, costly software & IT infrastructure upgrades, and expensive user & license fees. Turn Key Office has a team of certified technicians and network engineers to keep everything running smoothly.

Access QuickBooks Anywhere

As a business owner, you are always on the go. Our hosted QuickBooks solution allows you to adapt to your busy schedule and growing business. Because your QuickBooks files are stored on our secure servers, you can work on them at the office, from home, while on a business trip, or at your local coffee shop without worrying about compromising your financial records if your laptop or computer is stolen or destroyed.

Full Featured QuickBooks Enterprise

Intuit offers QuickBooks Online, which also allows users to access QuickBooks remotely; however it lacks many of the features and fails to provide most of the great benefits found with a hosted QuickBooks solution. Using QuickBooks through our secure terminal servers feels as though you are working directly on your computer’s desktop. There is no new user interface to learn and you will work with the same robust, full featured QuickBooks you know and love.

Secure, Multi-User Access

Our hosted QuickBooks solutions allows for simultaneous, multi-user access – approved and regulated by you. Your bookkeeper and employees can maintain bookkeeping data, transactions, and inventory, in real time, across multiple locations, ensuring you, your CPA and your business partners have access to the most current company information.

Onsite or Remote Assistance

Whether you keep your own books or outsource your bookkeeping needs, we are ready to help your with more than just hosting your bookkeeping files. Our staff of U.S. based, certified ProAdvisors and professional bookkeepers can provide onsite or remote support, ranging from consultations and data entry all the way to creating accounting protocols and full-service bookkeeping.

24X7 Data Security & Monitoring

We understand keeping your bookkeeping and financial data secure is vital to the success of your business. Because of that, Enterprise level security comes standard for all our QuickBooks clients. Our servers are monitored in real-time, 24/7/365 and nightly and monthly data backups are stored in two, offsite locations.

Affordable

Our hosted QuickBooks Enterprise solutions start at $60/month for single user access and data file hosting. For a free, no obligation consultation, please contact us today.

Sunday, September 10, 2017

Thursday, September 7, 2017

The Security of Your Financial Data is a Top Priority


Our QuickBooks hosted architecture incorporates multiple layers of security to ensure your financial data remains private and secure. Our security measures are highlighted below:

Physical Access

Only physical console access can grant folder level permissions for the folders containing your QuickBooks file. For added security, there is no remote management access of our file server whatsoever. Only a few trusted company representatives have physical access to the file server.

Remote Access

Remote access is performed by a separate stand alone Terminal Server running the latest and most secure operating system commercially available, currently Windows Server 2008 R2. Remote Desktop access is hosted from a non-published public IP address which is only given to clients under contract. After successful authentication, a user is granted access to our domain.

Server Access

Secure login names and strong passwords are given to access the network on a per client/per user basis. Strong group policies dictate user permissions for the network.

Generic Folder Names

Client names are obscured on the network from browsing functions by non-distinguishable Client Numbers. ONLY Clients who have been given explicit permission to access their company’s files are given folder-level access to browse the contents of their folder or open files; and each user is given unique login names and passwords. Passwords are set by the network administrator and cannot be changed to weak passwords.

Backups

Data backups are in two off site locations – real-time Encrypted off site backup is run nightly and an alternate backup file is locked in a secure bank safe-deposit box monthly. Only a few trusted company representatives have access to the safe-deposit box.

Redundancy

Turn Key Office maintains myriad strategies for operational redundancy including power sources, internet access, physical locations and hard drive redundancy, eliminating as many single points of failure as prudent.

QuickBooks Enterprise Security

QuickBooks Enterprise Solutions 12.0 offers the very latest security protocols that are customized by the user. QuickBooks logins and passwords are separate than network passwords to provide an additional layer of authentication. Beyond that, QuickBooks provides highly customizable security settings allowing each authorized user of QuickBooks to have tailored access to the file appropriate to their role for the organization. For a more detailed description of the 115 QuickBooks Enterprise security settings, click here.

“Always On” Audit Trail

Every transaction posting to your General Ledger (entered, modified or deleted) is recorded with Audit Trail, by user and date, helping to track data entry errors and protecting you against employee fraud.

Monday, September 4, 2017

How to Use the QuickBooks Mobile App


Get more done with instant access to your QuickBooks information and tools right on your mobile device. You can email invoices, receive payments, reconcile online banking transactions...and a whole lot more! It’s available for iOS and Android devices, which work the same basic way ... in this video, we’ll show you how to use the iOS version

Friday, September 1, 2017

10 Ways You Can Model the Success of Millionaires


Hard work, lifelong learning and the humility necessary to ask mentors for wisdom are the ingredients for a rich life, in every sense.

Tuesday, August 29, 2017

7 Things to Look Out for in Accounting in 2017


Accounting plays a pivotal part in the operation of any business. If an accounting system is not up to the standard, you may start facing money crunch. For an organization to work smoothly, you must understand the essentials like the required costs, how much time is put in for making a product and what more should be invested in the business. If you fail to plan meticulously on these points, it is very unlikely that your business will expand. Conversely, if you have kept a track of the way, things are carried out and have a fair idea about its financial scenario, you will be able to stay ahead in the competition. There have been multiple changes over the years in accounting. Accountants have started adopting new trends that have given a boost to their income and also made their work easy to a great extent. Following list demonstrates the most-recent trends that have taken accounting industry by storm.

Shift to cloud accounting will increase

As more businesses are shifting to clouding technology to store data and cut down costs, cloud accounting is gaining importance. An emerging shift, this has set the path for enhanced cooperation among team members and given a better understanding of financial condition. This involves the use of software, which operates on server and can be accessed from anywhere through the Internet. This way, the data is available to employees and the accountant for use whenever required. It gives the accountant more transparency in work and also lets him/her keep checking on possible discrepancies.

Decentralization of accounting software

Earlier tasks such as generation of bills, reports, management of inventory and setting up a payroll system were all carried out at one place. However, more businesses are now opting for distribution of these tasks. The accounting field is making use of various applications for solving business issues with ease. These applications facilitate easy sharing of information. Decentralization has doubled the revenue for accountants as they integrate into multiple partnerships.

Automation will be an integral part of work

It eliminates manual data entry and thus reduces the burden of maintaining huge book records of years. It also reduces the chances of records being misplaced or tampered due to human negligence. This can be beneficial for small-business owners and entrepreneurs to a large extent. These tools promote effective communication between accountants and their clients and also help them deal with real time accounting problems.

Rise in social media strategy

Many businesses today prefer social media marketing of their products to increase their target audience. In the same way, use of social media strategy for accounting is also rapidly gaining attention as business owners are found more active on this platform. This trend has not only been picked up by major accounting firms but also has given entrepreneurs a better clarity to choose their accounting firm by getting an insight into the services offered. The accountants can market themselves by communicating to various people. It also enhances their exposure to new things and increases their visibility in the industry.

Increase in collaborative accounting

Although this is not which has been introduced recently, it is certainly giving new direction to business and opening up new vistas for sale. Collaborative accounting makes use of the Internet and latest technology to function irrespective of the location. For instance, the accountants can access client transactions and modify them if necessary by making use of cloud software. They can then inform about it to their clients by using different available chat platforms. This is being termed as the future of this field.

Accountants will turn into consultants

The working module is going to witness a huge change. Instead of paying your accountant on an hourly basis, flexible options will come into the picture. Apart from advice on tax deduction, accountants will be able to give you an outlook and suggestions on how to cut down your tax bill for the next financial year. They will become your trusted consultants who help you make your business grow exponentially.

Firms outsourcing their accounts

Many organizations are catching up with the latest trend of outsourcing their accounts department. This helps the owners to focus on their business and think of ways to boost it. It also helps in cutting expenses and guarantees that the accountant will scrutinize the reports for frauds.

Managing accounts form an important part of an organization. It keeps a check on the inflow of cash and enhances scalability of business. With new ways available to manage accounting of your firm, it has greatly reduced monotonous methods of handling records and increased lucidity in the working of an organization.

Article Source: http://EzineArticles.com/expert/Carol_R_Wilson/1245071

Article Source: http://EzineArticles.com/9766719

Saturday, August 26, 2017

7 Steps to Achieve Financial Freedom


Achieving financial freedom does not necessarily mean becoming filthy rich. Use these 7 steps to accumulate wealth, become happier, AND achieve financial freedom, no matter how much money you actually have.

Wednesday, August 23, 2017

Professional Bookkeeping Solutions


Our flexible bookkeeping services embody three core fundamentals: Accurate, Consistent and Timely.

Saavy business owners realize that the lending environment is more stringent. Protocols for producing accurate and clean financials are an expectation throughout the year, not just at tax time.

Turn Key Office has long believed that the power of QuickBooks provides an invaluable business management tool for decision-makers. Our mission is to use QuickBooks to bridge the gap between the daily operations needs of our business owner clients and support the needs of their CPAs to prepare accurate and timely tax records. Needs which are aligned, but almost never the same. We do this by bringing together myriad tools which allow accurate record keeping, checks and balances, customized reports, secure data access and built-in redundancy to ensure the integrity of your data with a customizable palate of services.

Professional, Onsite Bookkeepers
Our local staff of Certified QuickBooks ProAdvisors provide customized assistance ranging from the fully outsourced ongoing CFO services to clean up of your financial records or consulting engagements. We are concentrated in the Washington DC, Maryland, Virginia area, but have active clients from Florida to New York. Outsourced professional bookkeeping is one of the fastest growing trends in industry. View the benefits of outsourcing your bookkeeping needs.

Systems Integration
We provide expert analysis of your business needs and match them to hundreds of available tools that integrate with QuickBooks to streamline business processes and maximize profits. And, we have the hands-on expertise to work with you on implementation, roll out and training — start to finish!

Bookkeeping Consultations
Keeping your goals and budget in mind, we prepare a customized solution that provides as much, or as little, bookkeeping and accounting support as you require. Preview our sales engagement process or contact us today to schedule a complimentary consultation.

Sunday, August 20, 2017

Consider Your Costs When Pricing Your Product


Hawaiian Gun Rack president and “big kahuna” Dennis Kahn explains the various factors involved with maintaining his price points.

Thursday, August 17, 2017

10 Behaviors of Smart People


Smart people make smart decisions and that's the most important factor in how things turn out for you.

Monday, August 14, 2017

Five Factors to Consider When Selecting an Accounting Firm


Whether to start a small business or make adjustments for changes in tax laws, choosing an accounting firm can be an overwhelming task. To prevent important details from slipping through the cracks, make sure to consider the following when selecting a one.

Fees

Having an amazing accounting staff that simultaneously bankrupts the company is nonsensical. Although higher-end firms can come with higher price tags, this isn't always the case. Fees should be one of the first things to consider when trying to find the right fit. It's also important to analyze charges. For example, some may charge per task, such as filing a 1040 personal income tax form or preparing a statement of net worth, and others may charge by the minute.

Certification

Some accounting firms may seem attractive on paper, but it's important that they put their money where their mouth is. A good way to ensure that one is qualified to perform the tasks it offers is to determine whether they have received certifications for said tasks. A company that mostly or exclusively employs CPAs (certified public accountants) will generally be more trustworthy than one who doesn't.

Availability

Finding the right fit only to discover that their availability is low is an inefficient use of time. Although some bigger agencies can afford to take on more clients, some spread themselves too thin and can't offer all of their clients the same amount of time and attention. One can generally determine the availability of a firm by trying to schedule an appointment or attempting to reach them by phone. If either of these is difficult at any point in the process, it may be a red flag.

References

There's a reason why employers ask for references when interviewing potential employees, and the process should be the same when selecting an accounting firm. Even if an option has the right qualifications, hearing from other companies or individuals who have worked with them in the past can clarify whether or not they are as efficient as they appear to be. Contacting business associates who have worked with them can be a good way to see if any strong impressions were made through their clients, whether good or bad.

Personal Connection

Although it may seem like an afterthought, being able to build a personal connection with an accounting firm is especially important, considering they will be handling highly important and often sensitive materials. It's important to find a business that cares about its clients as more than simply a bottom line. The contact person should be comfortable being candid about their services as well as the finances of the company. Any sense of intimidation or miscommunication that may lead to complications down the line is a sign that a different choice may be a better fit.

Choosing the right accounting firm may be a difficult task, but it's worth putting in the time and effort to ensure that it will benefit the company in the long run.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

Article Source: http://EzineArticles.com/9768780

Friday, August 11, 2017

Free Up Time, Reduce Stress & Enjoy Accurate Financials With Our In-House Team of Local Bookkeepers


Enjoy the benefits of a professional bookkeeping department regardless of your company’s size. Hire a part-time or full-time local bookkeeper to provide consultations as well as on site or remote bookkeeping help.

Unsure which bookkeeping software is right for your company?
Work with a bookkeeper to explore different bookkeeping software options, including QuickBooks and Peachtree, to find the right match. Read more about bookkeeping software consultations.

Are you starting a business or need to organize bookkeeping files?
Start your business off on the right foot by having an experienced bookkeeper set up your financial records correctly or, if you have fallen behind, let us help you reorganize and update your financial data.

Want to make sure your bookkeeping data is accurate and being entered correctly?
Meet with a bookkeeper to develop an initial bookkeeping plan and work out continued on site, or remote, support and guidance.

Don’t like bookkeeping? Tired of being pulled in a million different directions? Want to spend more time focused the business you love?
Free up your time by outsourcing your bookkeeping needs through oursecure QuickBooks Enterprise server, to our local, certified bookkeepers.

Our bookkeeping services utilize best practices suggested byAIPB and GAAP and include: 

  • Set up of Company Financial Records
  • General Ledger Maintenance
  • Bank Reconciliation
  • Full Accounts Receivable, Accounts Payable, and Billing Support
  • See Our Full List of Professional Bookkeeping Services

Our complete bookkeeping solutions allow clients to enjoy:

  • 24×7 visibility into your records, from anywhere
  • Continued on site or remote support and guidance from bookkeeping experts
  • Accuracy on business financial transactions, outflows and receivables
  • The ability to implement checks and balances; separation of accounting duties
  • Lower maintenance and staffing costs; less “on site” hours billed
  • Relief from maintenance of accounting package software versions and antiquated backup solutions
  • Easy tax planning and preparation utilizing the CPA of your choice
  • Customizable company dashboard with metrics tailored to your business
  • Multi-user simultaneous access with extensive security protocols

Fees begin at $60/month for single user access and data file hosting.

For more information, click HERE

Turn Key Office is located in Columbia, MD and serves businesses in Baltimore, Maryland, Washington, DC and Northern Virginia. Our bookkeepers are all located locally within Maryland and can provide on site bookkeeping services or work from a remote location.

Tuesday, August 8, 2017

Why Automating Your Financial Management is so Valuable


Alaia Williams is a professional organizer who loves connecting people with the resources and solutions they need to get them closer to being successful – whatever that means for them. It should come as no surprise that Alaia recognizes the importance of efficiency when it comes to managing her own small business finances.

One way in which she does this is by utilizing Quickbooks Self-Employed in order to automate repetitive tasks such as invoicing. Small business owners have enough on their plates — and minds — without having to worry about keeping track of money coming in and going out. Alaia likes to automate as many aspects of her business as she can so that she has more time to focus on helping others organize their own careers and dreams for the future.

Saturday, August 5, 2017

How to Craft a 5 Year Plan


The first step towards success, in any area of your life, is creating a plan. Brian Tracy talks about how to craft a 5-year plan so that you can live your best life.

Sunday, July 30, 2017

Bookkeeping Software Consultations


Our professional bookkeepers are experienced in a variety of bookkeeping software options and can help you find the best software for your business.

Whether you are just starting out or trying to decided if you should switch bookkeeping programs, choosing the right software for your business needs is incredibly important. Our professional bookkeepers can make that decision alot easier.

With experience in a variety of bookkeeping programs and conversions, our bookkeepers will meet with you to learn more about your company and discuss your bookkeeping needs in order to make software recommendations and help you find the best option.

Thursday, July 27, 2017

6 Steps to Get Out of Debt


Mark Kohler briefly talks about 6 steps you need to do in order to get out of debt.

Monday, July 24, 2017

Invoice With Google Calendar


Add Google Calendar events and descriptions to QuickBooks invoices. Track all the details of your work in Google Calendar, select the event from inside your QuickBooks invoice and the hours are added up for you. Skip the tedious typing and send invoices faster.

Friday, July 21, 2017

Setup of Company Financial Records


Starting a New Business?

Make sure your bookkeeping files are set up correctly!

How you set up your bookkeeping and financial files has long lasting implications on your business so it makes sense that you want to make sure everything is done correctly.

Our certified and professional bookkeepers have experience setting up bookkeeping files for a variety of industries and can provide the support and guidance you are looking for.

Benefits of Professional Bookkeeper Assistance

  • Work side-by-side with someone who is experienced in setting up company files correctly.
  • Your bookkeeping files, software and reports are customized specifically to your business needs.
  • Save time and money in the long run because your files are setup correctly and you don’t have to go back and make difficult and time consuming adjustments.
  • Tax and financial reports are accurate and easier to generate making tax season a breeze!

Tuesday, July 18, 2017

Maximize Tax Deductions With QuickBooks


With QuickBooks you can skip tax time stress and maximize deductions all in one place.

Saturday, July 15, 2017

Unlock Your Potential With One Easy Mindset Hack


A short visualization meditation that will help you unlock your potential and increase your productivity within minutes. This is a personal practice Ben Angel created and used for well over 10 years.

Wednesday, July 12, 2017

5 Accounting Tips That Will Help Your Small Business


Running a small business means staying focused on your finances. Without proper management of receivables, marketing expenses and even debts, you could end up sinking the small business before it even starts to grow. Luckily, there is always something you can do to ensure that such risks are prevented. You can create and implement simple bookkeeping strategies to save your business and help it grow to its full potential.

1. Weigh your options

Is it better to get a bookkeeper or can you handle accounting by yourself? This is the question you should start by asking yourself before anything else. Cutting costs is definitely what you are prioritizing as a small business, but helps to handle what you can and leave experts to do what they do best. You can hire accountancy services to help you get your finances in order without spending too much on the services. There are numerous accountancy firms today and most offer all sorts of accounting services at affordable rates so you can easily get what you need as a small business.

2. Separate accounts receivables from borrowed funds

Financial backing or loans are beneficial to small business to aid marketing campaigns and even capital among other things, that the business needs in the initial stages. Get organized and keep the loans separate so they do not appear in your receivables because then you can easily get confused as to what is yours and what you need to pay back. There are very good easy to use software you can use for this task to keep everything organized and clear to you.

3. Keep an eye on your balances

Large amounts on your receivable column can be a good thing indicating that your business is doing well, but it is a different case when the money does not end up reflecting in your business account. Clients can be tricky and can avoid payments and when this happens regularly then your business remains at risk. Put in strict policies or terms so that you are able to receive due payments at the right time. You might be desperate to get clients, but you can't do it at the expense of your growing business; if you must refuse to give more services or materials until pending payments are made.

4. Keep track of your daily expenses

Everyday expenses records are very important for all kinds of business, but more so the small businesses. Keeping track of your daily expenses does not only help in clearly knowing where your money is but also puts you in a better position to budget for the weeks ahead.

5. Know your minimum monthly profit

Even the smallest businesses require running strategies and when you have an accurate system in place, then you will manage to keep things in order. Calculate your expenses and regular obligations so you know the minimum income needed every month. Have a target in terms of how much you should earn every month, so the numbers don't get too confusing.

Article Source: http://EzineArticles.com/expert/Jovia_D'Souza/2007086

Article Source: http://EzineArticles.com/9319403