OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Quickbooks Audit Trail – Who Needs It?
April 12, 2012 by Ed Becker
A few years ago, the QuickBooks Audit Trail feature could be turned on and off. However, in the most recent versions of QuickBooks, the feature is always on. Even the administrator can’t turn it off. It has its drawbacks, but for the most part, it is a very useful feature, albeit under-utilized. What does the […]
Don’t Be Part of the Headlines! – Accounting Fraud Scandal
March 29, 2012 by Ed Becker
For eight years, the woman worked in accounts payable for a Catholic Archdiocese, gaining the trust of her superiors. Colleagues praised her quiet dedication and hard work, and noted that she prayed often. No one questioned the hundreds of checks she wrote at the archdiocese to cover small expenses, like office supplies and utility bills. […]
Memorized Transactions in QuickBooks
February 22, 2012 by Ed Becker
If You Can’t Remember…Memorize! QuickBooks’ Memorized Transaction Feature is a Great Way to Save Time Managing Small Business Finances Why do so many users fail to take advantage of QuickBooks memorized transactions feature? I don’t know, but be sure you don’t make that mistake. While some of QuickBooks many features can be confusing or frustrating, […]
Self-Employed? Tips on Reducing Health Care Costs
January 18, 2012 by Ed Becker
Health Insurance Deduction Did you know that for 2011, there is a self-employed health insurance deduction? Eligible self-employed individuals and S-corporation shareholders can use the self-employed health insurance deduction to reduce their income tax liability. It’s not too late the claim the deduction if you’re eligible. Who is covered? The deduction includes premiums paid for […]
Don’t Make this Mistake with QuickBooks and Credit Card Receipts
December 24, 2011 by Ed Becker
A simple, but helpful tip from my QuickBooks training files If you’re like many small businesses, you use your credit card to pay for as many small business expenses as you can: gas, office supplies, travel, meals, etc. Some small businesses use their credit cards as a line of credit. Others like accruing points. And […]
How to Save Time Preparing 1099s – QuickBooks Training Tip
December 16, 2011 by Ed Becker
Want to save time this year preparing 1099’s? If you are a QuickBooks user, you’re in luck. Follow this simple QuickBooks training tip to make 1099 preparation as efficient as possible. In order to print out accurate 1099 forms at the end of the year using your QuickBooks software, the first thing you’ll want to […]
10 Red Flags to Watch for When Reviewing Bank Statements
December 12, 2011 by Ed Becker
What’s the danger in not reconciling bank accounts regularly? Many small business owners simply log into their bank’s website for a quick review of cash balances instead of reconciling their accounts. Below, I’ll give an example of how relying on this quick case review can be a $100,000 mistake. Plus, I’ll give you 10 “red […]
Ring in the New Year With A Year End Small Business Accounting Tune Up
December 9, 2011 by Ed Becker
As a small business owner, you know that December isn’t just about holiday festivities and the holiday season. December is also another small business accounting season. It’s when you need to compile and prepare year end documents for your CPA, so he or she can file everything for you before the upcoming deadline. Which accounting […]
