Control your small business through budgeting is crucial to manage any small business. Every small business needs to check their incomes and expenses to make sure they have enough funds to do everything they want to do AND that needs to be completed. This is how I started an effective budget for my business. First, decide what software to use, like QuickBooks or Quicken or an online app that is reliable. Then, setup the file. Follow the instructions. They usually have step by step questions … [Read more...]
Small Business Bookkeeping Tips Archive Page
Welcome to our Small Business Bookkeeping Tips archive page to help you and your business streamline processes. Read the archive posts for bookkeeping tips to use in your business.
Some small businesses use the process of writing a check out for cash. While it's best to write checks to individuals and not made out for cash, some small business owners may do this because it is easier. The problem is if you write checks made out to cash, you need to keep really good records since the IRS looks for the backup paperwork for these cash withdrawals when they do their audits. Keep in mind that we all need cash for various purchases if we work with cash often these steps will help … [Read more...]
I am ordering IRS information returns for 2013 at this very moment from the IRS. Task completed. To save me time and money, in September each year, I order the current year information return forms from the IRS. These information forms are used to give information to the government about your employees, subcontractors, and clients that you worked within 2013. I order double what I need, just in case I make mistakes when printing. It also helps me be less stressed in January when I need to … [Read more...]
Tax season is finally past, and now we can relax, right? Wait a minute, let's be proactive about this. Let's make tax season for next year less stressful. Here are three easy tips to get tax returns in order. TOP 3 Tasks THIS YEAR For a relaxing Tax Season NEXT YEAR 1. Review and change any estimated taxes that you may need to do for the current year. Check with your employees and see if they need to have anything changed on their withholding. How about your situation? Do you require more money … [Read more...]