Author: beachwood

Are you taking on a worker who’s not an employee? QuickBooks Online includes tools for tracking and paying independent contractors. The COVID-19 pandemic created millions of self-employed individuals and small businesses. Whether they chose to, or circumstances forced them to, these new entrepreneurs had to learn new ways to get…

It’s hard to ignore the real-life impacts inflation is having. While gas and grocery prices are having the most immediate effect, the price of almost everything is going up. People who are looking for ways to counter the impact and preserve financial stability can start with these solutions. They’re accessible…

This is the time of year your CPA will be busy. Maximize your time & efforts with these 5 simple recommendations: Gather all 1099’s issued to your company.Make sure you have completed financial reports, at a minimum a completed Profit & Loss, and Balance Sheet report.Make sure 2021’s Franchise Fee…

When you decided to start your own company, you likely focused on the products or services you were selling, along with your amazing customer service and marketing skills. While running your own small business offers plenty of upsides, it also means you’re responsible for every aspect of operations, including the…

A big part of running a business is working with independent contractors. These are self employed professionals you hire to support a specific aspect of your business. These are different than working with employees because they usually bring in their expertise to solve a specific business problem you're dealing with.…

All the Best Practices to Get the Best Financial Outcome From Your Organization If you had to make a list of some of the most critical elements of running a business that most new entrepreneurs don't think enough about until it's far too late, bookkeeping would undoubtedly be right at…

There are always more things to learn about the applications we use every day. Here are some tips for expanding your use of QuickBooks Online. We tend to fall into the same old patterns once we’ve learned how to make a computer application work for us. We learn the features…

There are unique challenges when running a restaurant business. They are: 1. Accounting for Tips Patrons will include tips in their payments. Is that considered restaurant income? How about paying out those tips to your employees, are those counted as wages? Restaurants can have different methods of tip handling. Whether…

Tax planning season is coming up very soon. It's critical for you to sit down with a competent CPA and review your business's numbers for tax planning purposes. You don't want to get hit with surprises when you file your taxes next year. However, are your numbers in good shape…

Restaurant accounting is defined as the process of recording, analyzing, and interpreting financial data for a restaurant. These include booking financial transactions such as supplier invoices, payroll, POS sales, sales taxes, and accounting for overhead expenses such as rent, insurance, maintenance, and any other cost necessary and as an ordinary…