Sample Issues Solved

Handling Accounts Receivables Bad Debt Issues

My client, Veronica, had some accounts receivables issues recently. One accounts receivable issue was a customer was many months past due on payment on her invoice, which was still completely outstanding. Veronica instructed me to go ahead and write off this invoice to Bad Debt expense in the chart of accounts, which is exactly what

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Switching & Migrating Payroll Services

My client, Sally, has not been too happy with her current full service payroll provider this year and now we are in the 4th quarter of the current year and she is wanting to switch full service payroll providers, this time to AccuraBooks Full Service Payroll Solutions. So, to be able to successfully migrate everything

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Prepayments and Deferred Income

My client, Chelsea, owns and operates a simple local fitness business that provides services for both the class/group setting and personal/one-on-one setting. Chelsea’s locations are in apartment complexes and condominiums. For the most part, Chelsea receives her revenues prior to actually performing the services; these are also known as prepayments. So, to keep things simple,

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Monthly Job-Costing Tasks

Job-Costing is way of allocating certain income and expenses to particular customer jobs that your company has performed work for. So, instead of allocating income and expenses ONLY to your business-wide profit & loss statement, your income/expense data can ALSO be allocated to specific customer jobs. You do this extra step in your bookkeeping to

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Posting Payroll Amounts into QuickBooks

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

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Cash Forecasting for Job Projects

My 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

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Bookkeeping for Investments in QuickBooks

My 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

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Properly Using the Class Function in QuickBooks

My 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

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Factoring Bookkeeping

My 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

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Job-Costing Catch Up

My 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

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