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Business Budgets, Projections or Forecasts, without Spreadsheets
If you are interested in using budgets, projections or forecasts for your business, without spreadsheets, then this article will help you.I am not in favor of using spreadsheets when developing budgets, projections or forecasts for your business, I prefer an integrated approach that uses simple financial modeling for developing and preparing a balanced projected income statement, projected balance sheet, projected cash flows and detail schedules.
QuickBooks Self-Employed is Useful, but Read the Fine Print
QuickBooks Self Employed is suitable for people who work in the "shared economy", are self-employed, file a Schedule C with their tax return, have no payroll. It is easier to use than traditional QuickBooks Online. QuickBooks Self Employed is not designed for corporations or partnerships, with the exception of Single Member LLC's, under certain circumstances.
QuickBooks Cash Offers Same Day Deposits and Free ACH Transfers
Unlike the traditional small business bank account model, small business owners are able to sign up for QuickBooks Cash online from a mobile device or their computer, without ever having to go to a bank. Perfect for doing business during COVID and eliminating a unnecessary step when setting up a new bank account.
Do It Yourself Bookkeeping vs Remote Bookkeeping
A Big 4 audit firm is now a player in the subscription-based bookkeeping business and is positioned to take on Intuit's QuickBooks Live Full-Service Bookkeeping. This change will replace the need for keeping bookkeepers on the payroll. Who would ever think KPMG would enter into the subscription based bookkeeping business.
Should I Open a Business Bank and Credit Card Account ?
Separating your business transactions from your personal spending and keeping them in separate bank accounts, is just as important as separating your business life from your personal life.
Don't Use a Napkin or the Back of an Envelope for an Estimate ?
Without writing the estimate down on paper or using your memory, to enter costs, there is a good chance you will either incorrectly estimate or underestimate the costs required to complete a job which may result in overruns, lower profit margins, labor overages and missing deadlines.
Don’t Call your Bank, because that’s Not Always Your True Cash Balance.
Usually, the current balance in your bank does not agree to your QuickBooks balance(check register, because of timing differences i.e. checks or deposits from today and yesterday that have not been processed by the bank. Bank reconciliations help prevent or detect fraud