There are 2 ways, either “write checks” or my preferred way is to go through Accounts Payable, enter the bill first, then pay the bill. The advantage of using A/P is you get several reports available by going to Reports, Vendors & Payables. My fav’s are Vendor Balance Detail and the Unpaid Bills reports. For more in-depth guides, go towww.MyLittleBiz.com and see the a la carte page.
The 3 forms you must keep on file for each employee
Legally you must keep on file the W4, the I9, and here in PA the Local Residency forms. The W4 can be the original one if there has been no changes, you don’t need a new one each year. For the I9, also keep a photostat of their SS card and drivers license (most common) and the Local Residency form has to show where they actually live- not a mailing address.
Otherwise known as a time clock. New ones are electronic and can be programmed in different formats. The best format is MILITARY time and rounding to TENTHS of an hour. Military time takes away the confusion of am and pm. Each tenth is 6 minutes. This makes for very easy calculation for employee’s hours, simply subtract the smaller number from the bigger number.
Things I usually find: The chart of accounts is a clusterstuuk, Items were not set up correctly and duplicated, duplicate vendors, things in the wrong lists, etc.
99.9% of the time, it’s best to just start over fresh with a new data file, setup properly. The only compelling reason to fix an old data file is you really need to be able to compare current numbers to past numbers all the time, side-by-side. By starting over, you wouldn’t lose the old file anyway, you would simply have to switch between separate companies within QuickBooks.
Do you fear running out of money?
Do you feel dumb when it comes to understanding your business accounting?
Do you fear not doing well in business, losing money?
DO SOMETHING ABOUT IT!
Know your numbers…backwards and forwards.
Finally, make an improvement for 2015. Wouldn’t you like to understand your business’s accounting? Wouldn’t you like to be more confident about your future? You should be looking at your books. You should NOT be doing your books. Can you? Sure. But that’s not your job as the owner. It’s not the reason you started your business. Take action to take the mystery out of accounting. It is essential to winning this game called owning your own business that you KNOW YOUR NUMBERS.
Picture getting into your vehicle in the morning, turning the key, and backing out of the driveway. Now keep going…without looking through the windshield. You could do it, You’ve got a rear-view mirror, side mirrors, maybe even a backup camera. Just be very careful.
Well, that’s what relying on accounting alone is like. It’s historical. Driving by looking only at where you’ve been, you are likely to crash into something.
At Van Cleve, Inc., we will keep your books impeccably clean, month by month, teach you to understand your numbers so you will understand your business, and we have a unique method to get you looking forward to see what’s ahead, so you avoid cash crunches, and have a sense how your year will shake out.
Count On Profits!
December is the best month to be thinking about improving the PAYROLL SERVICE you’ve been getting…
Here are some suggestions:
What is their conversion and setup process?
How much of a hassle is it going to be?
Are they going to make it difficult or easy?
Are they willing to do TEST RUNS to make sure everything works right, before the new year starts?
Are their fees easy to understand or does it take up an entire page?
Are they fully insured and bonded?
Are they a LOCAL business?
Do they make you log into their website and essentially do all the work?
Do they impound all the payroll funds, including taxes, and hold onto your money?
Are they constantly making mistakes?
Do they answer their phone or do you get voicemail much of the time?
At Van Cleve, Inc., we strive for the easiest payroll experience ever. (Not for us-for our clients)
“I’m tired of all the payroll mistakes!”
To quote people who’ve switched recently to Van Cleve, Inc. Payroll & Bookkeeping.
“We have to spell it all out for them, detail the hours and the pay rates, and they STILL screw it up”
We operate differently. We are more hands-on than the other big name payroll providers. We’ll call you if things don’t look right or if we are unclear what you meant. And we have our own internal processes that double-check the pay, so we can claim to make a lot fewer mistakes.
And because we’re LOCAL, we can fix mistakes super-fast.
October through year-end is a great time to SWITCH PAYROLL SERVICES. You will get all setup to start 2015 off with an improved service. We insist on doing FREE trial runs of payrolls beforehand to make sure we have everything down perfect, ready to go.
Switch Without a Hitch…
Contact Bruce @ 1-800-651-0045 or by email @ firstname.lastname@example.org
WE LOVE SMALL BUSINESS!
Small businesses are the the jet fuel to our nation’s economy. They create 75% of all net new jobs. They are 99% of ALL businesses. We rock! Big business might get all the attention but WE drive the economy.
I’ve created a new service that sets up new company’s books. It also can be for existing companies that need a re-boot on their accounting. Most of the problems small businesses face with their bookkeeping stem from it not being set up right from the beginning. We fix that.
Go to www.MyLittleBiz.com