CrackerJack Accounting

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 [...]

 
Ask any accountant and they’ll spout off the balance sheet equation (Assets = Liabilities + Owner’s Equity).  Ask most everyone else, and they’ll either look at you blankly or have a hard time remembering what goes where in that equation.  It’s simple, really, if you just picture it.

Unfortunately, I’ve worked with many business owners who were victims of embezzlement prior to my engagement with them.  It’s really not all that uncommon.  Why?  Because we want to trust our employees.
I’m not saying your employees aren’t trustworthy; I don’t know them.  What I can tell you is that’s always the story I hear.  “I [...]

I really don’t want to be a banker and I’m guessing you don’t either. The harsh reality is that any business with accounts receivable is acting as a banker.
With the current economy and banking situation, it’s important to realize that you are a banker…and you should act like one. In times when banks are failing [...]

The 2009 versions of QuickBooks are due out soon and the mac version gets an upgrade this year too. Unfortunately, they didn’t include networking (multi-user) in this release. I’ve been working in both the pc and mac versions lately and it’s quite frustating that the mac version lacks a lot of the features of the [...]

I am no stranger to businesses with cash flow problems. The lack of cash to pay the bills is pretty common among small businesses.  It’s no secret why it happens… promises haven’t been kept by customers, you expected sales that didn’t materialize, you expected funding that didn’t come in, the list goes on.  What I [...]