Question: Do I have to collect sales tax for out-of-state sales? It depends, and it’s complicated. State governments would like to collect as much sales tax as possible and, with declining revenues over the last several years, are looking to every possible source.
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Question: When I try to enter a payment from a customer, it ends up in “undeposited funds” and not my checking account in QuickBooks. How do I fix that?
Perhaps this title grabbed your attention? Business is done through building relationships that we build through personal connections. These connections happen when being involved in our community and in our industry. They are created by being engaged with others. Relationships can be built while drinking the beverage of your choice.
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Your chart of accounts (COA) is important groundwork for your business to organize your financial transactions. The specificity of your COA will determine how clearly you can view your financial statements. You want enough detail to delineate categories of cash inflow and outflow that are important to your business, but not so much detail that your financial statements are a jumbled mess of detail.
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Question: When I’m not sure how to make an entry in QuickBooks, should I make a general journal entry?
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Did you know that April is International Customer Loyalty Month? Think about the businesses you consistently patronize. What have they done to capture your loyalty?
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Our evolving industry business model continues to be a hot topic. Recently I started wondering how an online purchasing mentality, I’ll call the Amazon click-to-buy world, affects our industry. It begs the question, are we (aka distributors) really needed? It’s getting easier and easier for end-users to buy online or direct from suppliers.
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Our business is about building the lifestyles of our dreams. And to create the lifestyle you’ve always wanted to live for yourself and your family, there are just two things you should be focused on—activity and pipeline. That’s it.
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Do you have a clear understanding of why you are in this business? And please, don’t tell me you’re in it for the money.
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In our first article on What’s Happening with Trade Shows, we covered the SAAC Show, a strong regional association event, in Long Beach, Calif. There were a couple of anonymous comments bemoaning that the article featured links to product videos from some interesting items we found at the show.
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