It’s happened again….locally….and it makes my blood boil! Another full-time, long term, on staff, trusted bookkeeper has been arrested/prosecuted for company embezzlement. I wish I could train company owners and management on a full time basis on how to prevent employee theft. The American dream for so many is to become a business owner, to…
If you are having trouble figuring out how to calculate end of year bonuses you are not alone! Here are some quick tips: Holiday Bonus (cash or gift cards) You must treat all cash bonuses, including Gift Certificates (“cash in kind”) as taxable wages, no matter how small they are. You can add a…
A common mistake I find many QuickBooks® users make is with the Undeposited Funds account. When you create a new company file, QuickBooks® automatically creates the Undeposited Funds account. It acts like a holding account similar to a cash drawer until you go to the bank to make your full deposit of cash and checks. …
It’s mission critical time to close out 2013 strong! Check to make sure all of your accounts are reconciled and up-to-date. This includes checking and savings accounts, credits cards and all loans. I also personally think all of your payroll liability accounts should be reconciled as well. Run a Profit and Loss Detail report to…
Did you know that accounting processes began more than 7,000 years ago? The Assyrians began a process that relied on primitive accounting methods to properly record herd counts and growth of crops. Now, 7,000 years later we are still counting cattle numbers but also the number of times we hit Starbucks each week and the…
Whether you are just starting your new business and need help with the logistics of “setting up shop” or have been in business for 20 years and find yourself needing some extra help with your accounting needs, Smart Book Business Solutions is here to help you! My name is Becky Fava and I have been…