CrackerJack Accounting

Time tracking is a subject that causes many a manager’s eyes to roll.  The concern is understandable.  Most of us have experienced the negative consequences that occur when bad time tracking practices are employed.  Time tracking can be a major headache, if you get too granular and it can make employees feel like “the man” is [...]

It’s time to start preparing 2009 1099 forms. Every year the question arises: Who gets a 1099?
For the complete answer, see: http://www.irs.gov/pub/irs-pdf/i1099msc.pdf
In general, service providers you have paid $600 or more in 2009 need to be issued a 1099.  Service providers include: independent contractors, accountants, public relations firms, janitorial services, etc.  Payments to service [...]

No one likes tracking their time, but it is important, even if you bill on a fixed fee basis. Here’s why…

It allows project costing of your fixed fee projects which can help you stay on budget and profitable.
It gives you the information you need to price future projects.
You’ll know how much time and money [...]

There are a couple of ways to handle customer deposits in QuickBooks.
Method 1: Receive Payment Without Applying to an Invoice
If the customer hands you a check you, can simply receive the payment without applying it to an invoice. This will create a credit on their account. While this method will allow you to apply [...]

Want to know my biggest beef with QuickBooks?  Well, really with the Intuit, “the makers of QuickBooks”.  It’s the marketing.  They constantly tell business owners that no accounting knowledge is necessary.
Don’t get me wrong, I think a lot of the data entry could and should be done by administrative clerks or do it yourself business [...]

Finally!  Mac users can use QuickBooks online.  Previously, QuickBooks Online only worked with internet explorer.  This week, Intuit finally released the online version that works on Firefox and soon will work with Safari.  Hip Hip Hooray!  There’s now a multi-user QuickBooks version for mac users.

FreshBooks® is an online invoicing system made for small businesses.  I’ve been using FreshBooks for 8 months and I LOVE it.  It really can make your business life easier.
I work with small business owners to help them get their accounts receivable under control.  Very often, there is a stack of past due accounts receivable.  [...]

Here it is, are you ready?  The number 1 way to get paid faster and increase your cash flow is VERY simple.  INVOICE your clients!  On time, accurately, and with all of the information they require.  That’s it.
I cannot tell you how often I see businesses that are really struggling with cash flow, but they [...]