Business Identity Theft
Business Identity Theft Recently, a bookkeeper was updating the company checking account in QuickBooks and found several checks totaling close to $12,000. All the checks were made out for amounts in excess of $2000 each and cashed against the company checking account. The problem was no one in the company issued these ...
Read MoreAccounting for Company Credit Cards in QuickBooks
Accounting for Company Credit Cards in QuickBooks When we are called to assist new clients with a particular QB problem, we often find several other problems exist. Some are more common than others. For example, we often find that clients do not set up separate accounts for their credit cards. They simply put the ...
Read MoreWhat are the tax implications on being an “Independent Contractor”
INDEPENDENT CONTRACTORS Are you an independent contractor or an employee? In today’s tough economic times, when jobs are tough to come by, many people are taking positions that are typically employee positions but disguised as “independent contractors” without really understanding what this means. What are the tax consequences of being self-employed or being ...
Read MoreUsing the “Class” feature in QuickBooks
Using the “Class” feature in QuickBooks QuickBooks allows users to track information by department or location or by property or business office or any other important breakdown you require to generate the information necessary to make good business decisions. This is done by checking off the “class tracking” box located in the Accounting ...
Read MoreSetting Up Chart of Accounts In Quickbooks
SETTING UP QUICKBOOKS CHART OF ACCOUNTS Although it may appear rather simple to set up QuickBooks with all the support features the software has to offer, there is more to it than meets the eye. For example, when you set up your chart of accounts, ordering the profit and loss accounts by no particular ...
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