Are your customers slow about paying their invoices? QuickBooks can help accelerate your receivables.
Your company’s cash flow depends largely on how quickly your customers pay the invoices you’ve sent. And if you’re like most small businesses, those checks tend to dribble in close to—and after—the due date. If you operate on a slim margin, this often means that you’re late at paying your own bills.
It’s essential, then, that you do what you can to get incoming revenue moving as quickly as possible. QuickBooks offers numerous ways to help you accomplish that critical goal.
QuickBooks Online is good at managing and tracking inventory – as long as you’ve created thorough records.
When you first started your business, you might have been able to keep track of your merchandise by counting manually. But as you and your product list grew, this became impractical. You might have recorded it all in a spreadsheet, or even a box full of notecards.
QuickBooks Online has a much better way. Whether you sell products or services or both, you need records of specific items to use in transactions and reports. Those records are especially important if you have physical inventory; they can store details that help you know, for example, when it’s time to reorder.
Building a database of your inventory is time-consuming work that requires a lot of detail. But the information it supplies will be of great significance as you make critical buying decisions.
Key Changes for individuals and businesses
The historic new tax reform law is a massive overhaul of the tax code, the largest in more than 30 years, and it includes sweeping changes for both individuals and businesses, beginning in 2018. Various tax breaks, such as deductions for charitable donations and preferential capital gains treatment, are preserved. This article summarizes these important changes.
The $1.5 trillion new tax law represents the most sweeping change to tax code in a generation. Tax reform of this magnitude will have broad implications for businesses of all sizes and in all industries.
While accountants and tax departments wade through the 185-page legislation, this article highlights the top 10 things companies need to know.
On January 29, 2018, the IRS issued Notice 2018-14 to provide additional federal income tax withholding guidance pending the release of the 2018 Form W-4. The IRS is currently revising Form W-4 to reflect changes made by the Tax Cuts and Jobs Act (the “Act”) affecting individual taxpayers – such as changes in available itemized deductions, increases in the child tax credit, the new dependent credit, and the repeal of dependent exemptions.
In the meantime, this article addresses two situations where a new W-4 is required and other withholding procedures that supplement the Notice 1036 guidance released earlier this year.
Advantages of retirement accounts
No matter the size of your company, employees may enjoy the benefits of participating in a 401(k) plan. One of the most popular retirement plans around, this is a proven way to save money for your golden years.
This article explores the attractive features to enrolling and participating in your company's 401k plan.
Exhibit more of these important traits
Are you an effective business leader? Do not automatically answer “yes” without thinking it through. After you take a closer look and apply high standards, you may find room for improvement.
This article outlines several ways to polish your performance as a Business leader.
For individuals who seek to save on their taxes while still being charitable and making a difference in their communities, donor-advised funds (DAFs) are a strong possibility to consider.
This article explains the advantages of donor-advised funds for those seeking to gain tax-related benefits and make a difference
Employees look to their leaders to set the example for ethical practices. You may have your organization’s code of ethics plastered on the walls throughout the company, but the minute you bend the rules by writing off a suspicious expense – whether it’s a vehicle, a child’s tuition or a personal trip with your family – you are sending a message that these rules can be bent.
This article explains why executives leaders must model ethical behavior if they expect their employees to act with integrity.
No matter how careful you may be in managing your company’s accounting systems, it’s all too easy for someone to slip in a phony vendor or two. It happens at companies of all sizes, but there are steps you can take to detect and altogether prevent payments to fictitious vendors.
This article explains the prevalence of fictitious vendor payments and lists steps companies can take to prevent them.