Ask the Accountant… Question: What is equity in my business and how is that different from assets? Answer: In accounting, equity is assets minus liabilities. Equity is the portion of your business that is yours after debts or liabilities are considered. As an example, if you purchased a house for $300,000 and took a mortgage…
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Several years ago, when I wanted to build a new home, I needed ideas for what I wanted it to look like. So, I drove around nice neighborhoods and took pictures of attractive homes. I came upon an awesome home and decided to ask the owner if I could take some pictures. The owner answered…
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Ask the Accountant… Question: Can I use the QuickBooks Online Plus Chart of Accounts that is included in the program? Answer: Yes, but it is a poor format for our industry. QuickBooks is a wonderful product and is the No. 1 accounting software for a small-to-medium-sized businesses. It is used by a wide range of…
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It’s hard to believe, but we’re in the second half of 2024. Many of us do end-of-year reviews of our business goals and accomplishments, but how many of us stop to do those things mid-year? As basic as this sounds, most people don’t. But those who achieve their goals often do. Highly goal-oriented people tend…
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As we experience the many situations in business and life we have two choices: 1. Assume we know what’s going on 2. Always be curious and see if there’s something for us to learn When I was younger, I was very confident and thought I had all the answers. That over-confidence and false bravado probably…
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Ask the Accountant… Question: How many users do I get with QBO Plus? Answer: QBO Plus allows up to five users. You can invite your accountant or bookkeeper to be a user by sending an invitation to their email address. But, if you are using a different QuickBooks product, be sure to read the fine…
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As PRINTING United Expo rapidly approaches, it’s likely that you are purchasing airline tickets, making hotel reservations, and planning your itinerary. These are all good and necessary things. But in order to have the most successful show possible, it’s helpful to back up a little bit. Why are you going in the first place? At…
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On my recent walk near our home, I found this small plant growing in the middle of the road. Think about it. That seed fell in the middle of a road, but somehow found a way to root itself in a nearly invisible small opening. It found a way. No excuses. Despite all the traffic…
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In light of the most recent “cyber-glitches” impacting millions across the globe, it’s worth reminding ourselves of the value of paper. Digital forms are convenient, and once a company has invested in the transition to digital, those forms don’t require requisitions, delivery time, or payment. That sounds great—until it’s not. When your system is down,…
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Ask the Accountant… Question: I am starting another company and am using QuickBooks Premier. Can I start another company in my QB without buying another program even though I am in the Premier subscription program? Answer: Yes and no. YES : QuickBooks Desktop users (Pro, Premier, and Enterprise) can create any number of additional companies…
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