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

Cash Basis Accounting: The Missing Numbers

Cash basis accounting is used by a large percentage of small businesses. It is used because it is simple to understand and requires very basic record keeping skills to maintain. It also allows a company to pay taxes based only on revenues collected rather than on the full amount of revenues billed.

In cash basis accounting, deposits from sales or services are recorded as revenue. Checks and other forms of outgoing cash are recorded either as cost of goods sold or operating overhead expense. The net results determines the company’s profit or loss. A very simple system, as stated above.

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Tags: Bank Accounts, Cash Balance, Cash Basis Accounting, Cash Position, Checks, Critical Number, Current Assets, Desperate Need, Financial Position, Financial Statements, Overhead Expense, Payables, Point In Time, Profit And Loss, Profit And Loss Statement, Profitability, Receivables, Relationship, Small Businesses, Vendor Invoices

Transform Your Business With Spreadsheet Accounting – Part 1

When a new client approaches me to do their accounting for them, they often bring in their previous financial “system”… which usually consists of cardboard box overflowing with files, receipts, envelopes, and notebooks of spreadsheets. The first thing I do, before I start any official “help-them-save-money-and-make-more-money” accounting work, is to roll up my sleeves and systematize the avalanche of papers.

If your small and growing business doesn’t have an accountant yet, or if you want to make it really fast for your accountant to get through your records and start delivering the meaningful insight that you are hiring them to provide, you need to build and implement a spreadsheet-based accounting system as early as possible.

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Tags: Accountant, Accountants, Accounting System, Avalanche, Business Profitability, Cardboard Box, Cash Flow Statement, Envelopes, Google, Google Spreadsheets, Gross Profit, Income Statement And Balance Sheet, Meaningful Insight, Microsoft Excel, Profit And Loss, Profit And Loss Statement, Receipts, Spreadsheet, Step 2, Step 3

End of Year Tax Preparation Tips

Here are some tax preparation tips:

1. Open up a free document storage account, so that you can get all your tax documents in one place. Preferably one that has sharing capabilities; all the easier to share with your accountant and bookkeepers. My recommendation: DocLanding, it is free to start (you only need to pay once you exceed certain storage requirements) and you can set up file cabinets and file folders, and the sharing permissions are very detailed. You can share whole cabinets, folders only or documents-only.

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Tags: Address Phone Number, Bookkeeping System, Donation Details, Federal And State Tax Return, File Cabinets, File Folders, Free Document Storage, Pdf Copy, Personal Return, Preparation Tips, Profit And Loss, Social Security Card, Social Security Number, Sole Proprietorship, State Tax Return, Storage Account, Storage Center, Storage Requirements, Storage Unit, Tax Documents