Ask the Accountant… Question: How do you suggest I research credit cards to pay my suppliers and get points? Answer: Credit card points are a nice perk for our industry, but you should only use credit cards for this purpose if you pay the complete balance off each and every month. If you don’t plan…
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When QuickBooks Enterprise is Overkill for Your Business
Ask the Accountant… Question: I have a Promotional Products business using QuickBooks Enterprise. Our business has changed, and QuickBooks Enterprise is overkill for us now. Can we convert from Enterprise to Premier? Answer: QuickBooks makes it easy to convert from Premier to Enterprise (a more expensive product), but not convert from Enterprise to Premier. I…
Read MoreHow to Keep Track of Purchase Order Documents
Ask the Accountant… Question: Is there a good way to keep track of documents related to purchase orders? Answer: We certainly have a lot of paperwork attached to the orders in our industry! It is a challenge to keep a record of orders and the attending documentation. Keeping paper files can be cumbersome, but see…
Read MoreWho Do I Call With QuickBooks Problems?
Ask the Accountant… Question: What numbers do I call if I have a problem with QuickBooks? Answer: Let me introduce you to www.softwarediscountcenter.com. In addition to being a quality reseller of QB products, they also have a help desk. Click the “Help” tab Select “Support and Training.” Here there are numbers to contact QB. Let…
Read MoreYou Are a Leaky Bucket
When it comes to motivation, we are all “leaky buckets.” We have all had the experience of hearing an awesome motivational speaker who inspires us to commit to change and get ready to take our success to the next level. However, we have also all experienced that motivation and commitment dissipate within a few weeks.…
Read MoreHow to Handle a Supplier Mistake in QuickBooks
Ask the Accountant… Question: I have a credit from a supplier for a mistake in an order. How do I enter that in QuickBooks? Answer: To enter a credit from a supplier in QuickBooks Premier to be used at a later time, follow these instructions. Go to “Enter Bills” Click “Credit” at the top of…
Read MoreBack to School
If you are a parent (or are on social media), you know that it’s back to school time. Children and young adults are busy getting their class schedules, books and school supplies to prepare for another year of learning and growth. What a great time for us industry professionals to think about “going back to…
Read MoreDo I Pay Sales Tax The Same as Income Tax?
Ask the Accountant… Question: If I do my taxes based on when I get paid for orders, does that mean I pay my sales taxes the same way? Answer: Not necessarily. The basis with which you calculate your income taxes does not have to be the same as your sales tax basis. There are two…
Read MoreTrust Your Intuition
Most of us businesspeople have great ideas from time to time. The typical response to our good ideas is to seek lots of affirmation. In the pursuit of affirmation, businesspeople reach out to their friends to get feedback. There are two big problems with this. First, your friends don’t understand your business very well, and…
Read MoreHow to Handle Multiple Companies on QuickBooks
Ask the Accountant… Question: Can I run more than one company when I buy QuickBooks? Answer: Yes and yes, but…. Yes: QuickBooks Pro and Premier allow multiple company files for one flat fee, which makes these two versions of QB an even more cost-effective accounting software for those running multiple business entities. One word of…
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