Posting an outsourced payroll bookkeeping entry into QuickBooks can be a challenge ranging from real easy to confusing. For my client, Natalie, I have decided to collect an actual full detailed payroll report and also a payroll cash-needs report from her outsourced payroll provider after each and every payroll run, to enter this information (and
Read MoreMy client Kristen wants to get reimbursed for some of the costs she has had to outlay to complete job projects for some of her customers. First there are different ways of deciding how you want to handle the ongoing cash outlays of job materials & labor costs; some very basic factors include: Can your
Read MoreMy client Donna wants all of her paper investments, such as certificates of deposits, mutual funds and IRA’s, tracked in her QuickBooks financial software. Normally people use more specialized personal bookkeeping software, such as Quicken, to track all of their investment activities, simply because Quicken can normally be tapped in to automatically update your investment
Read MoreMy client Susan wanted me to re-design her entire company’s chart of accounts, specifically in the Profit & Loss income and expenses areas, including the Cost of Goods Sold type of accounts. Susan also wanted “Departments” created as well in the expense areas of the chart of accounts; in other words, her company was dividing
Read MoreMy client, Emma, has recently sold all of her accounts receivables to a lending institution in lieu of a business loan. Basically all of my client’s customers will now have to send in payment to this lending institution and, in turn, the lending institution will disburse these discounted funds to my client. Emma has hired
Read MoreSometimes there are multiple companies created (by one person) for various reasons, however the safest way to handle this is to create a new bank account for each entity. If you decide to keep the same bank account, keep in mind that the IRS, for payroll purposes, is tracking all of this activity and this
Read MoreMy client, Olivia, hired AccuraBooks a few months ago to do the following: Catch up the bookkeeping Create a job-costing platform & process Provide bookkeeping maintenance going forward Upon review of Olivia’s bookkeeping in her QuickBooks company file (home design & remodel service), it was discovered there were current customer jobs still open that actually
Read MoreOpen Quickbooks desktop and click on the Lists menu and select Payroll Item List. Note: If payroll is not turned on in your Quickbooks file, then you will not see the Payroll Item List selection. You will need to create a new payroll item for the employer contribution portion of an employee’s health insurance plan,
Read MoreKeeping abreast of the financial position of your company is a must for any small business owner. One of the most crucial reports for you to review on a regular basis is the Profit & Loss Report. In QuickBooks, you will find this report by clicking on Reports>Company and Financial>Profit & Loss (Standard or Detail).
Read MoreThe Unpaid Bills Detail report can be created by clicking on Reports>Vendors and Payables>Unpaid Bills Detail. This report is an excellent means of viewing what your company owes to each of its vendors at any point in time. There are a few noteworthy items in this report: The report defaults to show bills dated today
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