Five Ways to Avoid an IRS Audit as a Small Business
Practices and habits that may trigger an IRS audit and how your small business can avoid those triggers.
Managing Cash and Working Capital Yields Benefits Throughout
Many companies don't have formal cash and working capital management in place Cash and working capital management systems yield operating and bottom-line benefit when firms commit to formalizing this important aspect of running a businesses. A recent study found that 75% treasurers and CFO's did not trust their own cash flow forecasts. Most had a [...]
Intuit Adding Compelling New Features to Cloud-Based Products
As business moves increasingly to the cloud, Intuit is hardly lagging behind. QBO {QuickBooks Online) continues to gain subscribers and add features – just as the desktop version did decades ago (I first used QB desktop in 1997). Alternative cloud accounting software from competitors like Xero (www.xero.com) once seemed more nimble, but at least some [...]
“Financial Modeling for Startups” webinars
Joe Kennedy of QB-LA.com (aka www.LosAngelesQuickbooksHelp.com) recently completed his presentation “Financial Modeling for Startups" for the CoFoundersLab Learning Center. The 3 session (total 4.5 hours) were webcast to over 100 registrants in the U.S., Europe and Asia in November 2016. More are sure to be scheduled, and registrants can review webinar recordings. Besides the live [...]
Why Connect a POS System to QuickBooks?
Since the 1980’s, dramatic improvements have been made in POS (Point Of Sales) and related data-warehousing systems by the big-box retailers (Walmart et al). These sprawling conglomerations of interconnected hardware and software cost millions to build and maintain and are housed in huge, specially designed buildings with enhanced power, security and environmental features. Over the [...]
QuickBooks apps for Customer Relationship Management (CRM)
QuickBooks CRM Apps The power of QuickBooks is leveraged by increasing numbers of apps. My experience has been that QB users often build a hodge-podge of notes, spreadsheets and informal systems over time to augment the flow of information into and out of the program. These often take time and are error-prone, and management should [...]
Why Run the QuickBooks Online App on Your Windows PC?
QuickBooks Online users have been reminded a lot about the new (well, released in 2015) QB app and we’ve been encouraged to download and use this instead of viewing QBO through conventional browsers. You may think that apps are only for cell phones but the QBO app is a specialized browser designed and tuned to [...]
7 Ways to Attract an IRS Audit
There are all kinds or rumors out there about IRS and state income tax audits – who gets audited, and why? No one wants this kind of attention: there may be much additional taxes to pay, and lots of intrusive, time-consuming questions. And according to the IRS, an audit may involve “the questioning of witnesses [...]
Accounting Begins On Day One For Startups
Here is a recent article that we did for CoFounders Lab that was picked up by a bunch of other sites too = I’m an accounting and finance pro and have worked with dozens of start-ups over the years. Among the management there's usually great excitement over launching the new product or service - and [...]
In-House or Outsourced Accounting – Which is Best for You?
Many small businesses consider how best to get the accounting done. It’s not feasible to hire higher-priced and more experienced talent, although sometimes this is needed. On the other hand, a bookkeeper or another employee who is recruited and told to “just figure out the accounting until we hire someone” is a problem waiting to [...]