Question: I have sales reps that I pay based on gross profit. Can I do these reports in QuickBooks? Answer: Unfortunately, no, QuickBooks does not calculate gross profit by sales rep for non-inventory items, which is 98 percent of our industry. I am working on a solution to this problem for some of my clients,…
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In business we must continually plan, execute and evaluate. 1. Plan: Most business folks have some sort of plan. Some have long-range plans. Some have annual plans. Most have at least a “to do” list to help plan their day. 2. Execute: Most business folks also execute. The key to good execution is good planning.…
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Question: Can you clarify “Customers,” “Vendors,” “Employees” and “Other Names?” Too often I use “Other Names.” Is that right? Answer: No. It is best to set these up correctly from the beginning. Fixing later is difficult. In this section, QuickBooks allows a name to be used only one time. If you put everyone in “Other…
Read MoreI have two favorite lifestyle apparel pieces that I am constantly running into in my travels: the caped vented fishing shirt and the square-hemmed bottom camp shirt. These two very distinct styles have a long history in American fashion, and in recent times have seen a major increase in everyday wear by the American consumer.
Read MoreThe 4th of July is when we Americans celebrate our independence, our freedom. As you prepare your celebrations, let me encourage you to reflect on these two questions: Are you truly independent? Are you truly free? Most distributors with whom I speak don’t seem very independent. They seem to be bound by all of the…
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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…
Read MoreWith more and more millennials tossing their paychecks toward fast fashion brands like Zara, H&M, Forever 21 and ASOS, and abandoning the allure of brand names, it’s shocking that luxury fashion brand Gucci even has any skin left in the game. And yet, today’s teens are lining up to spend $590 on the company’s iconic…
Read MoreThe #Online18 most influential people consists of industry influencers who use online tools and strategies to benefit their business and the overall promotional products industry. Each year gets tougher to identify the #Online18, as the online marketplace continues to evolve. One important note about the #Online18 is that this is primarily based on a personal…
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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: Why do I have supplier purchase orders that show as open in QuickBooks Premier even though I know I have paid them? Answer: There could be two explanations. First, there are times that your supplier purchase order does not mark all items as closed even though they are paid. To check this, open the…
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