I am hearing lots of news and talk about what percent industry sales are down. Some are saying industry sales are down 70 percent. Others are saying industry sales are down even more. If you listen to how much industry sales are down, you have a math problem. The problem is that it can sound…
Read More
Ask the Accountant… Question: I was talking to someone at QuickBooks. They told me to try QuickBooks Online, and if I didn’t like it, it is very easy to switch back to QB Premier. Is that true? Answer: No, that is not true at all. QB is pushing QuickBooks Online (QBO) heavily. Its subscription income…
Read More
These very different times call for a very different approach to my blog, Million Dollar Mindset. The main purpose of my blog is to help you develop the mindset to create your own million dollar success. Some of you were probably well on your way until a few weeks ago. Then our world changed in…
Read More
Ask the Accountant… Question: I have someone doing my bookkeeping, but I really don’t know anything about QuickBooks. What reports should I look at every month? Answer: There are six reports that provide a practical overview of your business. First, create, or have your bookkeeper create: 1. The balance sheet 2. The profit and loss statement…
Read More
I want to start by thanking all of the leaders that have contributed their advice so far in my newest approach to Million Dollar Mindset. It has been a pleasure featuring your insights on how to be financially successful within our industry. The most recent respected leader I asked to share his thoughts is President…
Read More
Ask the Accountant… Question: Is there a dashboard in QB Premier where I can look at open orders? Answer: QuickBooks Premier has such a dashboard called Income Tracker. You can find the icon on the left side of the home page where other shortcuts are listed. The Income Tracker has tabs at the top of…
Read More
Since my newest approach to Million Dollar Mindset in asking respected industry leaders to share their thoughts on success, it has been insightful for me, as I hope it has been for you. The most recent respected leader I asked to share their thoughts is the president of SanMar, Jeremy Lott. Thank you, Jeremy, for…
Read More
Ask the Accountant… Question: Is there a way to know if my sales tax report is correct? Answer: I always suggest reviewing the information on your sales tax report before filing. The report is only as correct as the data you enter into QB. To begin, are you up to date with your bank and…
Read More
Continuing to ask respected industry leaders to share their thoughts on success, I reached out to Paul Bellantone, president and chief executive officer of PPAI, to share his advice. Thank you, Paul Bellantone, for sharing your advice about financial success with me. Question for Paul: In your years of experience in our industry, what do…
Read More
Ask the Accountant… Question: I use two item numbers for my distributorship—one is the item number I assign internally and show the customer, and the other is the supplier’s number. Can I use both in QuickBooks? Answer: Yes, QB Premier and Enterprise allow for two different fields of item numbers. When you set up an…
Read More