Sunday, March 31, 2019

7 Strategies to Grow Your Business | Brian Tracy

What does it take to be successful in today’s business world? To start, you have to have a product that’s wanted or needed, and it has to be properly priced. That’s just the beginning. In order to have a successful business, practice these seven tips to grow your business.

Thursday, March 28, 2019

How to Categorize Transactions From Your Bank & Credit Card | QuickBooks Online 2019 Tutorial

In this QuickBooks Online tutorial you'll learn how to navigate the software along with:

- Add transactions QuickBooks downloads from my bank and credit card
- Categorize downloaded transactions correctly
- Teach QuickBooks to automatically categorize transactions for me
- Add important details like payee, description and more

Monday, March 25, 2019

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 is 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.

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Friday, March 22, 2019

How to Set Up Sales Tax: Settings, Sales, & More | QuickBooks Online Tutorial 2019

In this QuickBooks Online tutorial you'll learn how to set up sales tax for your company along with:

- Discover the Sales Tax Center
- Explore the steps to set up sales tax for your company
- Edit your sales tax settings and set up additional sales tax rates
- Set up your products and services so that sales tax is calculated when selling them
- Create non-taxable customers

Saturday, March 16, 2019

How to Track and Pay Sales Tax: Tracking, Recording, & Reports | QuickBooks Online Tutorial 2019

In this QuickBooks Online tutorial you'll learn how to track and record sales tax payments along with:

- Understand the effects of sales tax transactions in your Sales Tax Center
- Run reports to track the sales tax you've collected
- Record sales tax payments in QuickBooks

Sunday, March 10, 2019

How to Collect and Record Sales Tax | QuickBooks Online Tutorial 2019

In this QuickBooks Online tutorial you'll learn how to record sales with sales tax along with:
- Enter a sale involving sales tax from scratch
- Discover how sales tax is calculated on sales forms

Monday, March 4, 2019

QuickBooks Desktop Point of Sale: Adding Inventory

Keeping track of your inventory just got a whole lot easier with QuickBooks Point of Sale. With every transaction, your inventory will be updated so you’ll know when you need to reorder. Learn more about How to add Inventory in QuickBooks Desktop Point Of Sale.

Saturday, March 2, 2019

Why Failure is Good for You

In this video, Brian Tracy gives you tips on how to accept failure and use it to propel you to even greater success. Failing can be better for you in the long run, as it spurs you forward and fans the flames for better success in the future.