Free Payroll Software

Posts Tagged ‘Bookkeeping’

The easy way to track your eBay profits. Track the entire history of a listing from beginning to end including all fees and credits! See detailed reports showing profits by item and category, income and expense, and consignment for selected periods of time! So simple no manuals are needed! Web-based service you can access from anywhere, anytime. No downloads! You do the selling, we do the math! Spreadsheets and Gross profit analysis. Completely automated, just input cost per item and we do the rest. Unique reports allow editing on the fly.

www.EasyAsAccountingSoftware.com Creating Invoices using our Small Business Software.. No need for more than one program, our software manages your business and your invoices

visit www.moneyledgers.com and check out our “Ledger Library” – for more great ledgers for a wide variety of purposes. From personal to small business. Great for tracking home office expenses.

I got two programs to start with – which one to choose first?

I’m totally novice when it comes to business, finance and accounting

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Accounting & Bookkeeping-Beginner

Description:
This is an introduction to basic accounting and bookkeeping processes and procedures for entry level positions e.g. accounts receivable/payable, personal or small business needs. It includes instruction on double-entry journaling, general ledger, posting accruals, deferrals, closing entries and more.

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Accounting: Payroll-Beginner

Description:
You will learn how to enter new employees, process payments, remit deductions, report journal entries, complete payroll deductions and Records of Employment (ROE). You will use Simply Accounting computer software as your processing system.

I am in the process of starting a bookkeeping business and am having trouble deciding what I want to do about software. The companies that I’ll be doing the bookkeeping for will be rather small, and won’t have much need for anything more than a basic bookkeeping software with maybe the capability to do payroll. Some of these small businesses will have attempted to do the bookkeeping on their own but have for some reason decided to outsource. Since they may have tried to do the bookkeeping, they may have purchased software to use such as Quickbooks, Peachtree, Quicken, etc. There’s no way for me to predict what software they will have and I’m trying not to buy each version just so that I can transfer files. I would much rather use Quickbooks for all of my clients. Now, I don’t need Quickbooks’ Accountant software because my clients will not also be using the software, only I will. If I buy one of the basic versions of Quickbooks like I mentioned before, can I just have it set up to where I’ll have numerous company files. I’d create a new company each time I take on a new client and input the bookkeeping information they may have from before manually. I know you can create more than one company file in Quickbooks, but I don’t know if there’s a limit on how many you can create. So can I actually have those numerous company files, plus my own for keeping the books of my business, in that one program? If so, does anyone know how many companies you can create a file for in Quickbooks (or Peachtree, Quicken, etc.) without having to purchase a license for multiple users. And if not, does anyone have suggestions on what I can do.

I have a degree in Accounting and about 6 years of experience doing bookkeeping (4 years in Quickbooks) so I do know what I’m doing but with each previous employer, they only had their one company file created and I never looked to see how many companies you could actually create.

Thanks for taking the time to read my question; any and all suggestions will be very much appreciated.

-Taylor

seeking general management and billing / payroll / book keeping functions to streamline functionality and have a leaner more modern system. Opinions and suggestions and insight are welcome. Also, where can one find good help in the way of legal support staff in S. Fla.? It truely is hard to get good help!
Thank you to wyfclyon, just the insight i was hoping for, rather than taking, more like losing, time to discover this myself. The practice is business law and commercial litigation, condo law, associations, this area. Going through a changing face, a shift after many many years, as such the result will be a retireing partner and bookeeper. Staff and support restructuring too. I find that I am at a restructure crossroads and while I am proud to be a well respected lawyer; I cannot manufacture time for this support work, and I have felt the pain of trying to find capable and intelligent legal support candidates that can appreciate a long term opportunity. This problem of good help in S. Fla. I know to well.
Long explanation but now perhaps you know the whole story. Should anyone like to chime in, I welcome and appreciate the input.
Thanks again,

The only Small Business Bookkeeping and Accounting Software on the planet today which was created by Small Business for Small Business… You can download and sample EasyAs on a FREE 30 Day Trial, just by visiting their website.

Hello!

I was wondering what types of services Bookkeeping and Payroll companies offer (specifically) and what some average rates are for these services.

Also, what are the most sought out services?

Thanks so much!!

In today’s society we are constantly being presented with opportunities and suggestions that we can do everything ourselves and that it will save us money. This extends to business as well. Software companies are selling bookkeeping software to run your business, there are web site offering free advice for managing your business, and you can go to hundreds of websites to become incorporated at a fraction of the cost of going to a qualified professional.

Does a small business actually save money by doing these tasks themselves or do they inevitably cost themselves money, time and opportunity. A small business owner has to wear multiple hats including being the president and owner, the sales and marketing team, financial and accounting specialist, administrator, HR guru and technician.

The key to success for any business owner is to identify those tasks that are essential and productive to growing their business and seeking assistance for other tasks. The two most essential functions in any business are sales and operations – finding customers to sell to and providing them with the goods and services you are delivering.

All other functions of a corporation are non-core functions. This is not to say that they are not important. In fact having a good solid financial and accounting system is essential to understanding the performance of your business and then using this information to effectively manage your business and make informed decisions is crucial to your success.

Most business owners do not have the knowledge, expertise and/or training in these disciplines to perform these functions correctly. If they do have this knowledge and expertise, is their time better spent on growing their business and managing their operations or is it performing bookkeeping and financial administrative tasks?

I submit to you that the value of their time is best spent growing and managing their business. The realty is, when an owner is spending time away from focusing on the core functions of the business he or she has a direct cost that is associated with performing those tasks as well as indirect costs.

The direct costs are quantifiable and can be measured. The cost of an employee or the business owner managing his or her own books, running his payroll, filing sales tax or payroll tax reports, running financial reports, etc. multiplied by his or her hourly wages.

If a business owner spends 15 hours per month on bookkeeping, accounting or payroll tasks and their time is worth $50 per hour or more then the direct costs are more than $750 per month. If an employee is performing these tasks then all wages including benefits and payroll taxes have to be factored in as well as the time an owner spends managing and training the employee.

If the hourly wages for an employee including benefits, equals $25 per hour and a business owners has to spend an additional 2 hours each month managing and training the employee then the direct costs are $475.

The indirect costs are not as transparent or as easily measured but may be even more significant. The indirect costs can include lost sales opportunity, decreased efficiencies and higher expenses in operations, a decrease in customer service or overall quality of services or products being sold, simply due to the business owner having less time to spend managing the operations side of the business.

Indirect cost may even include mistakes due to an insufficient understanding of the subject matter, laws or filing deadlines. It may also include in an inability to access financing due to an improper corporate structure or poor financial reports that lack supporting backup documentation.

It has been our experience as a professional CPA firm that has looked at thousands of owner prepared financial statements that the vast majority of them are incorrect and in many instances have contributed to the failure of a business.

Finally, lawyers, CPAs and other professionals will typically spend more than a hundred thousand dollars investing in their education and learning to practice in their respective fields. They then have to pass a rigorous exam showing a proficiency and understanding of the knowledge in there respective fields. Most likely they will have dealt with hundred of clients and thousands of unique situations. This experience should not be minimized or dismissed.

When the investment of hiring a professional CPA is matched against the direct and indirect costs of not hiring a professional CPA, the decision will be a “no brainer.” By hiring a professional CPA firm a business owner realizes the following benefits: he or she frees up valuable time to manage their business; the bookkeeping is done correctly so that the owner has accurate timely financials to make informed decision; financials are available to a banker or venture capitalist when financing is required; the business owner stays in compliance with the tax laws.

At the end of the day a CPA firm will end being one of your most inexpensive but most valued members of your team. Not tapping into this knowledge and experience puts the business owner that is not utilizing these services at a disadvantage to their competitors who are making use of these services. The competitors that are utilizing these services and tapping into this experience are saving time, money and capitalizing on opportunities that will contribute directly to increasing both the top line – sales and bottom line – net income.

If you are not currently using a CPA and trying to go it alone, give a CPA firm a call and learn how they can put their experience and knowledge to work for you.