Negative Accounts Receivable in QuickBooks?

Resolving Unapplied Payments and the Significance One issue that many people – including bookkeepers – are not aware of is the way unapplied payments and credits in QuickBooks® can affect your Financial Statements. I am talking about payments you have received from customers that were “received” in QuickBooks® by using the received payments window, but…

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Year End Closing Payroll in QuickBooks

Year End and Payroll in QuickBooks Technically have until April 15th of the following year to “close out” your financials, but with W-2’s due Jan 31st, – January is crunch time to reconcile payroll. QuickBooks has greatly improved the accuracy of their payroll system over the years, so if you are processing your own payroll…

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Cash vs. Accrual Based Accounting in QuickBooks…. What does it mean?

Cash vs. Accrual Based Accounting…. What does it mean to the Small Business Owner? In my opinion, one of QuickBooks’ best features is its ability to run financial reports, like a  Profit and Loss, on both a Cash and Accrual Basis.  But  I am often asked by my clients “What does that mean?  What is…

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Contractors can you save money on Work Comp Insurance?

Contractors: Can you save money on Work Comp Insurance? If you are a general or specialty contractor, you may be able to save money on your Worker’s Compensation insurance just by making sure you are reporting your employee’s wages under the appropriate classification. Some examples are: If you are a General Contractor whose employees perform…

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Do you have a negative Accounts Receivable? Customers who have paid showing an open balance in the Customer Center?* includes free interactive lesson

Resolving Unapplied Payments and the Significance One issue that many people – including bookkeepers – are not aware of is the way unapplied payments and credits in QuickBooks can affect your Financial Statements. I am talking about payments you have received from customers that were “received” in QuickBooks by using the received payments window, but…

Continue Reading →

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