OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
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 […]
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 […]
QuickBooks Starter Tips
July 31, 2017 by Ed Becker
If you are new to QuickBooks or new to bookkeeping, there are some things you should know before getting started. Hopefully, you have some bookkeeping background because taking on this task can be overwhelming. QuickBooks is quite user friendly and has many tutorials and courses that you can easily access. But without a basic understanding […]
QuickBooks Online vs. QuickBooks Desktop (Updated)
January 30, 2017 by Ed Becker
What works best for QuickBooks may not work best for You! 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. QuickBooks wants […]
Independent Contractor or Full Time Employee? Bookkeeping Tips and Strategies
October 23, 2013 by Ed Becker
In terms of bookkeeping, the difference between full time employees and independent contractors is essential knowledge for small business owners. Incorrectly classifying your workforce could lead IRS penalties, costly lawsuits, or both. How to Classify an Independent Contractor The primary identifying feature of independent contractors is their ability to control the method in which work […]
