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QuickBooks Versions – which one is best for you?

I frequently get asked “What version of QuickBooks should I use?”. One of the first things to consider when selecting the best QuickBooks version is where do you want the program to be based. QuickBooks Online and QuickBooks Desktop versions are very different and you should understand your bookkeeping needs before selecting the solution that’s…

Complications of the Accountant’s Copy

An Accountant’s Copy is a copy of your QuickBooks desktop company file your accountant (or financial consultant) can use to make changes in while you continue to work in the original. When your accountant is done, you then import your accountant’s changes into your company file. Important: You cannot create an Accountant’s Copy if you…

Collaboration Resources for QuickBooks

Collaboration is a word that is increasingly being used to describe how work is done between two or more people in a business setting. Traditionally, collaboration meant simply working on a project with another person or group to achieve a common end result. Today, in our technological age of internet-reliant communication, the word collaboration has…

Not all gifts are treated equally

Whether you use QuickBooks Online (QBO) or QuickBooks Desktop (QBDT), a common procedure in both is to assign the proper Chart of Account item to the transaction.  Selecting the correct account is critical to reporting all your income accurately and claiming all your deductions on your income taxes. Understanding the IRS regulations for acceptable business…

“We opened the wrong QuickBooks file”… a true story

I’ll never forget the day my dad died.  It was a bittersweet day, in late 2010, filled with an abundance of memories First, and of course, most important, I recall a flood of shared stories as my siblings and I sat around my father’s bed waiting for his last breath.  He was unresponsive, but I…

The Dreaded Tax Season

I have worked with over a hundred small businesses, through at least ten tax seasons, and most of them dread “tax season” as if it were a suspended jail sentence. They tremble at the thought of the word “audit” while attempting to re-write the myriad of IRS codes to justify their expenses.  Many businesses delay…

Making cash flow easier

Everyone who owns a business wants to make money.  This takes cash flow. Cash flow is having money flow in and out of your company at the right times in order to optimize the solvency of the business. The ultimate goal is to have the business sustain itself and grow. All businesses initially rely on…

3 Alternatives for Sharing your QuickBooks

If you are a QuickBooks desktop user, it is sometimes helpful to have your accountant or bookkeeper view and work in your QuickBooks company file. Accounting professionals have been able to remotely access their clients QuickBooks desktop products using the QuickBooks Remote Access Service.  This service is being discontinued by Intuit starting January 31, 2015.…

QuickBooks Forms – Definitions, Shortcuts & Tips

Forms in QuickBooks

There are no less than nine different forms in QuickBooks.  Each of these forms serve a variety of purposes from recording sales and purchases, to soliciting orders and encouraging collections.  Used properly, these forms can help in the operations of your business: Organize Bookkeeping paperwork all in one place by utilizing the file attachment feature.…

Optimize QuickBooks for Maximum Profits in 4 Easy Steps

Business is about numbers.   That’s the bottom line (pun intended).   If you are using QuickBooks in your business, here are four simple strategies to optimize your software for maximum benefits and profitability. 1. Learn the basics about how QB operates It’s important to understand the basic functions of QuickBooks including your chart of…

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