Working with Customer Deposits (Or Prepayments)

Working with Customer Deposits (Or Prepayments)

Do you take payment up front from customers when starting a job? Whether you’re in the construction industry, landscaping, trades or some other type of business, deposits up front help cash flow and enable you to pay employees and purchase materials for the job. While there are different ways to handle this scenario, not all of them are correct from an accounting perspective. The results can be misleading information or confusion for the bookkeeper or customer. Here’s the method I recommend for handling prepayments in QuickBooks.

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New and Improved Intuit Payroll Products

New and Improved Intuit Payroll Products

Have you looked at your payroll options recently? Although changing your payroll option can be a pain to change, it is worth evaluating from time to time to make sure you’re getting the payroll option best suited to your business needs. And since Intuit recently released some new offerings late 2019, this might be the perfect time to start evaluating!

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Profit Planning for 2020

Profit Planning for 2020

It’s time to plan for your new year and profitability. Many of you may have already worked on a business budget for 2020. If you haven’t, I encourage you to do so – no matter what size your business is. If it helps, think of your sales, gross profit and net profit as goals you want to achieve. And I think you’ll agree that it’s much easier to hit a target you can see ;-). Once your budget is in QuickBooks, it’s easy to monitor how you’re doing during the year, so you don’t have to do updating in spreadsheet or just wonder.

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