If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net credit sales * 365. DSO is measured in […]
Are you interested in being known for your extraordinary customer service? Or perhaps you just want your customers to feel like it’s easy to work with you or purchase from you. If so, try these five tips for five-star client service. 1. A good old-fashioned handwritten thank you note. Almost extinct, this customer pleaser shows […]
Effective December 1, 2016, federal overtime regulations will change and may affect how you are paying your employees. These overtime updates will affect 4.2 million workers across the country. The new rules will raise the salary overtime-eligibility threshold from $455/week to $913 ($47,476 per year). This new threshold will increase every three years. Salaried workers already […]
Granted, retirement plans are usually easier if you’re a full-time employee. But if you’re self-employed, you can still contribute to a retirement plan. It’s expensive to be a sole proprietor. If you’ve been one for any length of time, you already know that. There’s the self-employment tax. Business insurance. Computers and mobile devices and applications. […]
Haven’t completed your 2015 taxes yet? Be sure you don’t short-change yourself on business expenses. If you’ve been in business for several years, you have a pretty good idea of what expenses can be claimed on your income taxes. But even if you think you know or you’re filing a business return for the first […]
QuickBooks Online’s mobile app lacks some features found in the browser-based version, but it provides mobile access to tools you may want on the road. First, it’s free (except for your mobile data plan costs). Second, it’s good. And QuickBooks Online’s mobile app offers more functionality than you might expect. Available for iOS and Android […]
Yet another calendar? Yes. It’s a good idea to use QuickBooks’ calendar to stay on top of your financial transactions. These days, some of us find ourselves updating multiple calendars. There’s the Outlook calendar or other web-based solution for scheduling and task management. Maybe a smartphone app to track to-do’s on the road, and a […]
Taxpayers neglect to file returns for countless reasons. If you’re one of them, here’s what you need to know. Believe it or not, there are individuals who don’t file tax returns even though they’re owed a refund. (They do have three years to claim it.) It’s more likely the opposite, though: Some people don’t send […]
With the holidays and year-end over, you can turn your attention to catching up with your customers. It would be nice if we could neatly wrap up every accounting month or quarter or year neatly, with all of our transactions completed. All current bills and invoices would be paid, physical inventory counts would match the […]
There are a number of situations where you’ll have to create and/or file Form 1099s. Are you affected? If you’ve been sending Form 1099s for years, you’re probably already working on them or have completed them. If you receive them regularly, they should be on their way to you soon (if they haven’t already arrived), […]
