Tips on Book Keeping and Reporting on the Club Financial Affairs

In order to exercise proper control on the money matters of the club it is necessary that proper documentation and authorization should receive attention.

Can I Show a Past Due Amount on a Current Invoice in QuickBooks?

You can show an amount from a past due invoice on a current invoice, but it's not a good practice. Here's why.

You Have QuickBooks - Now What?

You have either started a new business, decided to get your financial information in order for your existing business or your tax preparer has announced that he/she won't do your tax return anymore if you bring in one more year's receipts in a shoebox or plastic bag. So on the recommendation of friends, business associates, accountant, or other professional in the know you have purchased QuickBooks.

Accounting - Explaining The Balance Sheet

What are the different sections of the balance sheet including assets, debts or liabilities, and owner's equity? What is the difference between tangible and intangible assets, as well as short term and long term liabilities? For owner's equity, a brief explanation of different types of ownership structures are given.

Accounting for Your New Business

An easy homemade accounting system designed for business in the test marketing phase, or other very small businesses with few transactions and no debt.

What is Owner's Draw in QuickBooks? How Does Owner's Draw Work?

If you are a sole-proprietor, you may have wondered about the Owner's Draw account and how it works. I'll try to explain it in a way that makes sense to people who use QuickBooks.

The Importance of the Balance Sheet as a Financial

The Balance Sheet is one of the three essential financial reports, when doing business accounting. Come to understand its content and use.

Small Business Accounting Systems

Help for the new small business person in choosing an accounting software package that will meet his or her needs.

What Is A Good Bookkeeper Worth?

I am often asked what is a reasonable fee to charge my clients. And on the opposite side of the coin - what should I expect to pay for a bookkeeper? A bookkeeper who is honest, trustworthy, reliable and knowledgeable is worth their weight in gold. You might find a good honest hard working person, but if they don't have the knowledge and experience that you need then you only have part of the solution you are looking for.

Do You Hate Bookkeeping?

Do you have to do bookkeeping? Should my partner-spouse do my bookkeeping? Does it really have to be done? What needs to be done? What benefit do I get out of it?

EXCEL Tutorial - How to Construct a Compounding Interest Financial Calculator

You can construct an almost infinite variety of calculators right within your MS EXCEL spreadsheet application.

Outsourced Accounting Has Immense Benefits

Once you have outsourced accounting, you will realize how fruitful the whole process has been for your business. But you need to undertake the process to actually know what this can do for making your business a success. The first thing which you need to do for outsourcing accounting is to find out a good company from where you can get the work done properly.

Asset Misappropriation - Skimming Schemes

Skimming is the removal of cash for a victim company before the transaction is entered into the accounting system. Since skimming is an off the books type of fraud (it is never recorded) there is no direct audit trail therefore making the fraud difficult to detect. The employees with an opportunity to commit skimming schemes are those who deal directly with customers or those that handle their payments. This article will cover the four main categories of skimming schemes and discuss some of the red flags for detection of the fraud.