The answer is yes! It is important that you have separate business bank accounts—be it checking, savings, money market or any other kind. You should also keep a credit card just for business use.
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Yes, QuickBooks allows you to set up each portion of sales taxes separately as a sales tax item and then as a group sales tax. For instance, in North Carolina we must collect sales tax for state, county and transit taxes.
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QuickBooks allows you to set up purchase orders as jobs. A report of profitability by job can be run after the PO has been invoiced and the supplier purchase order has been converted to a bill or paid.
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My husband, Steve, consults with small businesses that he calls “underdogs”—businesses that rely primarily on the skills and efforts of their owner/operators. He helps them identify their “super powers” that they bring to their businesses.
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I back up my files each night on a thumb drive. Is that enough? You do need to back up your files, especially your order and accounting files, so you can recover quickly when disaster strikes and not lose critical data.
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There are five versions of QuickBooks, each designed for specific applications, and the ad specialty business was not one of their selected specifics.
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The ad specialty distributor business, regardless of its size, is unique. It does not fit a “business mold.”
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