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Use QuickBooks-Compatible Apps to Reduce Data Entry

As a small business entrepreneur there is a lot of demand on your time from competing forces, not the least of which are accounting and administrative tasks. For most business owners and their support staff, these tasks are the necessary evil of doing business, often put off until the last possible moment in favor of […]

Tips & Tricks: Avoiding Common QuickBooks Mistakes

For more than 20 years, QuickBooks has been helping businesses manage bookkeeping tasks such as sales, bill payment, payroll and even inventory. The strength of the software is that it’s easy to set up and user friendly. CPAs and their clients also have an easy way to collaborate through transfer and review of financial data. […]

Ten Means to an Efficient Year-End Close

By becoming efficient at year-end, you can make it feel like it’s just a normal month-end. Between holidays and staff vacations, everyone is crunched for time at the end of the year.  Add in the additional workload that a year-end close can bring and it can easily become a recipe for disaster with many late […]

Managing the Chart of Accounts in QuickBooks

Getting the most from QuickBooks financial reports relies heavily on the structure from which the reports are built.  The chart of accounts provides the framework for the basic financial reports (Profit and Loss, Balance Sheet and Statement of Cash Flows).  In order for the reports to be meaningful to the reader, it must be well […]

Client-Related Expenses – An IRS Hot Button

It is common in the law profession, especially those attorneys accepting cases on a contingency fee basis, to incur costs on behalf of a client, with the expectation that such costs will be recovered against the eventual lawsuit or settlement proceeds.  Examples of client-related costs include deposition fees, court reporting fees, transcripts, police reports, filing […]

Fall QuickBooks Check-up

With autumn upon us, December will come faster than you think. Year-end accounting reports and tax forms can be a real headache when your accounting system won’t cooperate.  Don’t get caught trying to take care of administrative tasks between holiday parties – instead, take the opportunity to lessen the pain and get a head start […]

Getting QuickBooks Ready for Your CPA

It’s the beginning of December and finalizing the books for the year is already on your mind.  What can you do before sending your QuickBooks file to your CPA to make it easier for them to prepare the annual financial statements and tax returns?  Here is a brief checklist to simplify the process:

Sharing QuickBooks Data with Your Accountant

The month of January marks the time of year many businesses process the year-end closing of the books and send annual financial data to their CPA for use in preparing the income tax returns.  QuickBooks software can generate the basic financial statements – Balance Sheet, Income Statement (aka Profit & Loss) and Statement of Cash […]