Question: Do I need to make changes to my supplier’s PO to match the supplier invoice? Answer: Yes, and making this adjustment is a standard and absolute best practice in our industry. The supplier’s invoice almost always differs from the original purchase order, and it is the final invoice numbers that need to be correctly…
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If you are seeking to elevate your success and happiness in your life and in your business, I recommend you evaluate the chart below and find more time to do those things you enjoy. We all have things we enjoy doing. Some we do well, and others may require more learning and practice. As seen…
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Question: I have a few company files set up in QuickBooks Premier from businesses I started but no longer run. How do I delete them from the list of companies to open? Answer: These companies can be hidden but technically not deleted. Select “File,” “Open Previous Company” to see the list of all the companies…
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Most distributor owners started their own business because they had a dream of making more money and having more fun than working for someone else. However, for many distributor owners, those dreams have turned into nightmares. All the responsibilities of business ownership can be very exhausting, distracting and no fun. Business owners not only have…
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Question: I use QuickBooks Premier for my distributorship. I also run another small business. Can I use my QuickBooks program for that, too, or do I have to buy Premier again? Answer: You can set up another company or companies in QuickBooks Premier at no additional charge from QuickBooks. You do not have to purchase…
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How do you spend your lunchtime? Many distributors and sales reps think lunch is a great time to eat a sandwich at their desk and catch up on their work. In my view, this is an incredibly bad use of the potentially most valuable part of your day. We are all in the relationship business.…
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Failure is a part of success. Sometimes failure can be the key to your fortune. You may have heard the story of how an engineer at 3M was trying to invent a super strong adhesive, but came up with a super weak one instead. That weak adhesive he invented became the secret to 3M Post-it…
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My last blog, “5 Reasons to Stop Using Voicemail,” triggered several conversations with people who had different viewpoints. Some conversations, including one left as a post on the blog, asked for ways to increase responses. Today’s post gives you alternatives to increase responses that are much more worthwhile than leaving voicemails especially when prospecting. Do…
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Question: I don’t like reconciling my checking account. Is there really a reason to do that? Answer: Monthly reconciliations are a critical part of your accounting. I could argue that it is one of the most important steps to making sure your records are complete and correct. Every month, you should reconcile each of your…
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Question: How do I record an apparel order with more than one supplier? Answer: We do have complicated orders in our business—none more so than apparel orders. In all orders, I recommend that you use your internal purchase order number to number all parts of the order in your system: customer sales order, supplier purchase…
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