Category: Quickbooks

Best Practices to Get Paid Faster as a Small Business Owner

Being a small business owner has many benefits. You can choose who you work with, how you work, when you work, and your income potential is so much better than if you were working as an employee for someone else. However, there are some drawbacks too. You may wind up working more hours than when… Read More »

6 Good Reasons to Use Bookkeeping Software Instead of Spreadsheets

To be clear, I don’t have anything against spreadsheets; I actually love spreadsheets! I use them quite regularly for a variety of things. If you’re a small business owner using a spreadsheet for your bookkeeping, you’re still doing much better than many small businesses that use only their bank account and statements. And for a… Read More »

What you need to know about the new 1099-NEC

If you own a business or are a freelancer/subcontractor to businesses, you are most likely very familiar with the 1099-MISC form.  This form has been used for the past 30+ years to report certain payments including payments to subcontractors, freelancers, service providers, landlords and attorneys. As if there haven’t been enough changes in 2020, there… Read More »

When An Expense Isn’t An Expense

  As business owners and freelancers, we pay a lot of different vendors for a lot of different things.  Most of these payments wind up on our Profit & Loss / Income Statement as expenses.  But there are a few that do not.  And these are usually the ones I get asked about.  “Why isn’t… Read More »

3 Bookkeeping Tasks You Should Automate

Staying on top of your bookkeeping and knowing where your finances stand is one of the keys to running a successful, thriving business. Did you know there are some bookkeeping tasks that can be set to autopilot so you can spend less time worrying about your books and more time running your business? Here are… Read More »

Stop Wasting Time on 1099s

It is that time of year…Small business owners all over the country are spending time gathering information from their vendors and independent contractors, confirming paid amounts, and starting the process of sending 1099-MISC forms. Did you know that you can avoid filing 1099-MISC forms by simply changing how you pay your vendors and independent contractors?… Read More »

1099-MISC Confusion – Deciphering the Rules

In recent years there have been some significant changes to the rules regarding issuing a 1099-MISC Form. It used to be easy. If you paid someone $600.00 or more you needed to send them a 1099-MISC (Ok, so that is a bit of generalized statement) by January 31st, and the IRS copies by February 28th.… Read More »

Mixing Funds Can Make A Sour Cocktail

If you’ve read even one “Bookkeeping For Small Business” article or blog post you know that the one of the first pieces of advice is to keep your personal and business funds separate. Yes, this can be easier said than done, but it is essential for running a successful and profitable business. But this isn’t… Read More »

Who Should Get a 1099?

It is that time of year again, Form 1099s are being worked on, many may have already been sent. So, if you are a new business owner, or one who hasn’t been “as good about this as I should be”, here are some guidelines for sending out your 1099s. Please note, in this blog piece… Read More »