5 Tips for Calming 401k Fears

When the market plunges, employees can begin to become fearful about losing money in their 401k funds. Because it is a key point of interest at this time, it becomes the perfect time to re-educate your employees about how their 401k works and the parts the employer does and does not play in the process. Here are five tips for calming 401k fears in the workplace. Read More »

Tags: 401k Funds, Amp, Daily Basis, Different Companies, Education, Fears, Flood, Hr Department, Invest, Investment Advice, Key Point, Losses, Money, Payroll, Perfect Time, Plan Administrator, Point Of Interest, Spite

1099 Vendor Setup in Quickbooks

In addition to selecting all your appropriate accounts under the 1099 setup preferences, discussed in our previous post, you will need to set up your 1099 vendors properly as well. Under each vendor’s setup there is an Additional Info tab. On this tab, you will find a check box labeled “Vendor eligible for 1099”. Right above this check box is a field for entering the vendor’s tax ID number. For every vendor who provides services for you, and is not incorporated, you should have the 1099 box checked and their tax ID number recorded. This includes vendors whom you haven’t paid, or don’t expect to pay, $600.00 or more. It will also be important to have their mailing address in your vendor setup for 1099 purposes as well.
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Tags: 1099 Form, Amp, Info Tab, Mailing Address, Payables, Precious Time, Preference, QuickBooks, Setup Preferences, Tax Id Number, Vendor Setup, Year End

1099 Settings in Quickbooks

If you hire services performed by other individuals or companies during the year, you may be required to supply them with a 1099 form at the end of the year, showing the full amount of funds distributed to them for their services. Corporations and vendors whose total payments for the year totaled less than $600.00 do not need to receive 1099 forms, but the rest of those vendors will. In order to print out accurate forms at the end of the year from your Quickbooks software, you will need to make sure that you have your 1099 settings in Quickbooks set appropriately.

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Tags: 1099 Form, 1099 Forms, Amp, Cleaning Service, Company Preferences, Corporations, Employee Compensation, Expense Account, Office Cleaning, Payables, Preference, Quickbooks Software, Subcontractor, Threshold

Add Sex Appeal to Your Financial Reports by Formatting in Excel

Quickbooks reports can all start to look the same after awhile, making it hard to find the one you are looking for in your stack of financial reports for the month. If you’ve ever wished you could add some custom formatting to make one report stand out from another, Excel is the perfect solution.

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Tags: Amp, Borders, Change Column, Column Widths, Columns, Excel Tools, Excel Workbook, Export To Excel, Fonts, Format Painter, Formatting Tools, Headings, Options, Perfect Solution, Periods, Profit And Loss, Quarters, QuickBooks, Sex Appeal, Stack

QuickBooks & FreshBooks – Part 3 – Sales Tax

Part 3: Handling Sales Tax

QuickBooks is an accounting application and FreshBooks is an invoicing application. They are two different things, but in the end to have your data matching in both, there could be a ton of double entry resulting in valuable time consumed and strenuous effort.

You can have your data accurate in both, while not matching in both. Matching and accuracy are two different things. For all of the numbers to match up, it is a matter of accuracy. To have all of the details such as sales items etc. it would be a matter of matching.

In this blog post, I will begin to show you ways to get accurate data from FreshBooks into QuickBooks.

This blog post is Part 3, if you have not read the previous posts, I suggest that you do:

Part 1: Methods 1 & 2 to getting FreshBooks Income into QuickBooks

Part 2: Method 3 to getting FreshBooks Income into QuickBooks

Also useful, is my post: Handling Credit Card and PayPal Processing Fees in QuickBooks, which has a short segment relating to FreshBooks as well.

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Tags: Accrual, Accuracy, Accurate Data, Amp, Bas, Blog, Credit Card, Freshbooks, Good Stuff, Income Accounts, Invoicing, Matter Of Fact, Paypal, Quickbooks Accounting, Receivables, Sales Tax, Segment, Strenuous Effort, Tax Accounting, Two Different Things