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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Documenting Your Business Auto Usage is Critical

November 7, 2017 by OSYB Staff

Small Business Profit Explosion underlines how you can appropriately document your business auto usage and help to avoid thousands of dollars in extra taxes and accountant fees, if you are audited. Your auto business log should include: All vehicular expenses, including purchase price, vehicle improvements, lease payments, repair and maintenance, gas and other expenses. The […]

Do You Know About the Changes on IRS’s 2017 Draft Form 1040?

October 31, 2017 by Ed Becker

Accounting Today shares some of the changes on the IRS’s 2017 draft form 1040.   Here are a sampling of the changes on the draft form: Form 1040’s due date is Apr. 17, 2018  There are new mailing addressing for returns, if you are a  resident of Connecticut, the District of Columbia, Maryland, Pennsylvania, Rhode Island […]

Understanding and designing your Chart of Accounts in QuickBooks

September 18, 2017 by Ed Becker

The Chart of Accounts is the starting place for any accounting system, including QuickBooks, because it is here that each General Leger Account is defined. From here, you can quickly learn where the money is, where it came from and where it’s gone to. The Chart of Accounts in QuickBooks As illustrated below, the Chart […]

“Accounting Success” for Your Restaurant

September 11, 2017 by Ed Becker

The first thing to do is set up a chart of accounts, and then you should  make sure that the three key accounts complement each other. The very first step you need to take, is to set up your chart of accounts, as everything else hinges on this fundamental list. The trick here is that […]

Are You Armed With These 3 Critical Small Business Skills?

September 5, 2017 by OSYB Staff

As a small business owner you wear all kinds of hats – the question is are you gaining ground and sharpening 3 important skills that can lead you to success:  Prospecting – Are you still using the cold calling approach?  Cold calling is becoming obsolete. You need to be using  warm outreach which means finding […]

QuickBooks Online for the Small Business Owner

August 28, 2017 by Ed Becker

With QuickBooks Online, all you need is a laptop or desktop with an internet connection to gain access to your records at any time and from anyplace. This is a great advantage to you as a busy small businessperson on the go, especially if you prefer to do your books at home, away from the […]

An Overview of QuickBooks Desktop

August 24, 2017 by Ed Becker

As a small business owner, your first step is to determine if QuickBooks is right for you, based on the size and needs of your business. Then you must decide which specific product and edition best solves those needs. When QuickBooks may not be the right Accounting Software for your Small or Mid-Sized Business QuickBooks […]

How to Confidently Start with QuickBooks

August 14, 2017 by Ed Becker

Using QuickBooks can be quite simple if you are an experienced bookkeeper, because the basics are the basics, whether you’ve been using a different program, or if you’ve been doing it the old way with a paper ledger. The all-important first choice And that is, do you opt for QuickBooks online or QuickBooks desktop? With […]