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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Battle of the Credit Card Readers: Square vs PayPal vs QuickBooks

May 29, 2013 by Ed Becker

Swiping credit cards has never been easier. Each service listed below offers a free card reader that can be hooked up to your desktop computer, iPhone, iPad, and other mobile devices. All you need to do is link your bank account and you are ready to start accepting credit card payments from customers. What was […]

Deducting Non-Cash Charitable Gifts – a Word of Advice

May 29, 2013 by Ed Becker

Do you have a dusty piece of machinery taking up space in your business warehouse? Or perhaps the neighbors are complaining about that car parked on your front lawn? Charitable gifts are an excellent way to reduce tax liability, but unfortunately, are closely scrutinized by the IRS. The following tips will help ensure you report […]

QuickBooks Online vs. QuickBooks Desktop – Which one is right for your business?

May 22, 2013 by Ed Becker

With an ever-expanding collection of features and options, businesses are left with a difficult choice between QuickBooks Online and QuickBooks Desktop. It is important to analyze your business strategy and choose a platform that will be most beneficial to your unique business model. The Key Differences QuickBooks Online lives in the cloud. It functions as […]

How to Extract Insightful Financial Ratios from QuickBooks

May 17, 2013 by Ed Becker

Hidden among the mountains of data you have accumulated in QuickBooks lies several eye-opening financial ratios. These ratios are essential in corporate finance, but are also extremely effective at analyzing the financial strength of small businesses. The Current Ratio Current Ratio = Current Assets / Current Liabilities Does your business have the ability to pay […]

Simple QuickBooks Techniques to Thwart Employee Fraud

May 3, 2013 by Ed Becker

Small businesses often overlook the risk of employee theft and fraud. In most cases, weak internal controls leave the door wide open for embezzlement of company funds by unscrupulous employees. Fortunately, there are several simple techniques that can be implemented in QuickBooks to significantly decrease the risk of fraud. 1. The Root of the Problem […]

How Dwindling Tax Incentives for Green Energy will Impact your Business

May 1, 2013 by Ed Becker

Synopsis: The impact of expiring green energy tax incentives for small business and what to expect in the future. As traditional fuel prices continue to climb, green energy tax incentives have failed to keep up with the pace. Over the past decade, tax breaks for solar, wind, and alternative fuels have made clean energy a […]

7 QuickBooks Apps that will Maximize Bookkeeping Efficiency

April 29, 2013 by Ed Becker

Synopsis: An overview of 7 exciting QuickBooks Apps that can improve bookkeeping efficiency for small businesses. The rapidly evolving Intuit App Center offers software add-ons that can dramatically improve bookkeeping efficiency. The app center allows 3rd party software developers to create powerful new services that expand the core QuickBooks experience. Below you will find 7 […]

Save Valuable Time with these Bookkeeping Tips

April 26, 2013 by Ed Becker

Bookkeeping is the recording of all your business financial transactions and it has to be done accurately. If you are a small business owner then you will be wearing a lot of hats, leaving you little time for accurate accounts or bookkeeping. 1. Fortunately there are many financial software programs that help you accurately record […]