QB QuickTips

With the end of the year upon us, there’s a lot of year-end recordkeeping that needs to get done. Among the tasks to be handled is issuing Forms 1099-MISC to your independent contractors.

This video will show you how to use QuickBooks to make it a breeze, even if your records are less than complete. You’ll learn what you need to do now so you can get it all done well before the January deadline.

Resource Links

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Independent Contractor (self-employed) or Employee? – helpful info from the IRS website

Downloadable Form W-9 – fill-in and printable

Forms 1099-MISC from Amazon

In this latest installment you learn about this little-known feature in QuickBooks that can be a real lifesaver!

I’ll show you three distinct ways you can use the Pending Invoices feature  to increase cash flow and streamline operations. You won’t believe how easy this trick is to use.

Which method for using pending invoices will work for your business? Can you think of any other ways to use pending invoices to streamline operations? I’d love to hear from you!

Related QB QuickTips

Prepayments and Retainers in QuickBooks

Job Tracking with QuickBooks

Undeposited Funds is a mysterious account found only in the QuickBooks chart of accounts.

What is it? How does it work? Why is it a protection for you and your financial records? And the biggest question: How do you fix it when strange things start happening with your deposits?

Of course, all the answers are found in the video. Solve the mysteries and watch the video now!

If you’re having challenges with Undeposited Funds, comment below. If this is a topic that needs more explaining, I’ll do a follow-up video.

Always glad to hear your comments!

~Gabrielle

This video is very timely, since today a MAJOR maintenance release for QuickBooks 2009 is available for automatic update.

In this edition, you’ll learn…

• The difference between an update and an upgrade
• How to check if your software is up to date
• The BIG change this latest update has in store
• How you know when it’s time to upgrade your software

Links to resources mentioned on the video:

What changes are included on the R8 Update

Download Link for installing the update outside of QuickBooks

Online Banking videos for 2008 and 2009

Online Banking 2009 Updates

Need to upgrade?

QuickBooks Pro 2009 – Get 1/2 off on Amazon.com right now

One of the most important monthly tasks to be done to keep your financial records accurate is also one of the most neglected – reconciliation of bank and credit card accounts.

When kept up to date, this simple task will take only a few minutes, yet provide BIG benefits.

In this lesson you’ll learn not only how to do it, but also how to handle snags along the way.

For lots of folks, learning the mechanics will give you what you need to get your books up to date and giving you the information you need to run a profitable business.

But I’ve notice that others still struggle in getting it done.If you haven’t been doing your account reconciliation, even though you’ve got the mechanics down, why not?

I’d love to hear all your “reasons”! Your feedback will tell me what YOU need from this blog to take your books to the next level. So take a minute to comment on this post and tell me your challenges when it comes to reconciling your bank and credit card accounts.

Then keep your eyes peeled for a future lesson that will give you what you want most.

~Gabrielle

One of the BIGGEST problems in QuickBooks is figuring out the proper way to capture your business expenses and then pay your credit card.

Mystery solved! Watch this mini-lesson to learn just how simple it can be.

If you’re wondering about how to record those business charges that were made on your personal credit cards, check out this mini-lesson on paying for business expenses with personal funds

You can use the exact same procedures, whether you paid for the business expenses out of personal cash or used a personal credit card.

If you STILL have questions, be sure to post them below, and you may see a follow-up lesson just for you!

~Gabrielle

Tax season is finally past and if you’ve filed your taxes (you didn’t go on extension), this is a great time to close out last year’s books.

This episode shows you how to do it, WHY you should do it, and what to do if you need to make a change after you’ve closed out the year.

Have you ever closed your books in QuickBooks?

Did you run into any challenges along the way?

I’d like to hear from you! Be sure to leave your comments and questions about closing your books with QuickBooks.  Just use the comment link below my name at the end of this post.

~Gabrielle

Need a cash boost for your business?

Start requiring prepayments or retainers for your new service projects or product orders!

In this QuickBooks video training lesson, you’ll not only learn how totrack these kinds of transactions two different ways, but you’ll also learn why this is a smart choice to start collecting up-front money in your business. It’s truly a win-win situation for you and your customers!

What about you?

Share your experiences and suggestions for starting a “pay-up-front” policy. Just leave a comment right here on the blog.

~Gabrielle

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QuickTip Resource

The cash-boosting advice in this episode of QB QuickTip is just one of the 25 cash maximization strategies contained in my special report, Cash Flow Kick-Start. If you want to kick up your cash flow for this year, and build a sustainable system to grow your business in the process, then you’ll want to check it out at ==> www.CashFlowKickStart.com

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As if we didn’t have enough taxes to keep up with!

Yep, Use Tax is a little-known tax that many small businesses need to put on their radar. Most states and some city governments are putting plans in place to “cracking down” on unpaid Use Tax, and they are starting by hitting businesses hard.

In this week’s video lesson you’ll not only learn about what Use Tax is, but how to protect yourself from getting a nasty back tax bill that could even include penalties and/or an audit.

The old saying fits here: Fore warned is fore armed.

Do you do business on the Internet? If so, you are also a target for Use Tax. The state governments are even working together as you read this to find a way to capture the lost revenue from Internet sales. So keep an eye on your state’s tax laws during the coming year.

Share your thoughts, questions, comments, experience (outrage), or tips below on the topic of Use Tax.

I’m always glad to hear from you….even if it is to grumble.

~Gabrielle

If you have customers who pay you by check, sooner or later you will need to deal with one that bounces.

I see lots of QuickBooks users get tangled up with recording these tricky transactions. But it doesn’t have to be all that difficult…when you know the 5 simple steps I’ll show you in this week’s lesson.

You’ll want to bookmark this video for future reference. It will save you hours of frustration when you need it, which hopefully won’t be too often.

In a future lesson we’ll learn how to gracefully handle this situation If you ever find yourself on the other end of the rubber check – when YOU are the one with insufficient funds.

In the meantime, be sure to leave your questions and comments right here on the blog. Just click on the Comment link below my name. I’d love to hear from YOU!

~Gabrielle