Quick Comparison QuickBooks 2018 vs. QuickBooks 2017

QuickBooks is the software of choice when it comes to accounting for small-to-medium sized businesses. It has been carefully thought out with features for all the accounting requirements of small-to-medium businesses. In addition to looking after the complex accounting tasks, it also keeps a record of daily, weekly and monthly transactions. QuickBooks is easy to use, even for someone who …

5 Basic Bookkeeping Tips for Small Businesses

Bookkeeping is crucial to the success of your business.  Clear financial records allow for better financial management of your company. Without proper management, you might not have a clear idea of how to minimize expenses for a lower cost of running your business, and your company could even go bankrupt. Here are 5 basic bookkeeping tips for owners of small …

3 Basic Accounting Principles

Certain principles are the basis for the preparation of financial statements. They form the framework that allows analysis and comparison of the information in financial statements. Without this common framework, it would be extremely tough for investors, lenders or anyone else to analyze or even trust the information presented in financial statements. Without them financial information can be distorted. Keep …

3 Insidious Accounting Issues SMBs Are Inadvertently Faced With

We have talked about the common mistakes people made with their business accounting – like the usual traps small and medium businesses fell into with their book-keeping when they were sloppy and unmethodical, the 5 book-keeping bungles of substantial consequence owners make with the book-keeping itself……. Here we talk about accounting issues they are faced with, not through any particular …

5 Book-Keeping Bungles of Substantial Consequence

In an earlier blog we talked about the usual traps small and medium businesses fell into with their book-keeping when they were sloppy and unmethodical. In this blog, we talk about typical mistakes owners make with the book-keeping itself. Not tracking reimbursable expenses With small enterprises, personal and business expenses have a high tendency of flowing one into the other. …

How To Read Your Company’s Balance Sheets

  Lease Abstraction: A summary of the key financial, business and legal information that exists in a commercial real estate lease. It should bring to the reader’s attention any unusual lease provisions, financial obligations or other issues of import. The complexity of commercial property transactions has augmented the complexity of leases. However, the purpose of the lease abstraction remains – …

Factor In These 3 Business Trends When Choosing Cloud Accounting Software for SMBs

  We talk a lot about choosing cloud accounting over the traditional system, a centralised accounting process, SMB accounting in the clouds, and so on. And all these are important things to look into. But there is a bigger picture to consider as well when choosing cloud accounting solutions, and that is business trends. Each of these trends is important …

10 accounting questions for potential accountant hires

With small and medium businesses (SMBs) a lot rides on your money. It’s crucial to find the right accountant so you don’t have to spend each day tearing your hair out and pass each night re-checking work they have done. If you want a smooth chugging engine, the accountant has to fit. So the task of finding this right-fit-assistant boils …

3-Step Set-up of QuickBooks Payroll

Setting up the payroll in QuickBooks has been made quite simple. Moreover, the complexities aren’t felt because they are hidden by the excellent user interface that requires only the most relevant details (intuited and pre-configured based on the experience gotten by setting-up over 500 companies). The three gross steps required to achieve this are by configuring the company payroll rules, …