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Categories Business Services, Payroll Services, QuickBooks® Training, Tax Preparation Author

What To Expect From QuickBooks® 2014

QuickBooks 2014

As a powerful business accounting tool, QuickBooks® can be a huge help when it comes to streamlining your business’ accounting process. From pointing your company in the right direction financially to saving you hours on payroll, the program makes going online with your accounting easier than ever.

With the recent release of QuickBooks 2014, a lot of improvements have been made and a handful of new features are scattered throughout—in fact, a lot of the changes made to the new version of QuickBooks were commonly asked about and requested by users.

So, what’s new and helpful to you, as a business owner?

Categories Business Services, Payroll Services, QuickBooks® Training, Tax Preparation Author

5 Tips for Simplifying Setup for QuickBooks® 2014

QuickBooks Setup

Now that we’ve gone over what to expect from QuickBooks® 2014, it’s time to install and implement the new software. If you’re excited to start taking advantage of the improvements and new features, but dreading the installation process, don’t worry! We have a few useful tips that can help speed up setup and get you to work in no time.

Convert QuickBooks as of January 1st.

Did you know: converting to a new accounting system at the start of a new year significantly simplifies the process?  Since it’s only October, this means you’ll have to wait a few months before you can start reaping the benefits of QuickBooks 2014, but starting a new financial year when the New Year begins will let you enter a simpler trial balance. At the start of the year, for example, you’ll only have to enter asset, liability and owner’s equity account balances. At any other time, you’ll also have to enter year-to-date income and year-to-date expense account balances, which can get tricky.

Categories Business Services, Payroll Services, QuickBooks® Training, Tax Preparation Author

3 Reasons to Hire a QuickBooks® ProAdvisor

QuickBooks ProAdvisor

When it comes to managing your finances, there are several great reasons to hire an accounting professional.

Yes, you can most likely handle tackling your books on your own—but why spend valuable time crunching numbers when you could be focusing on your business? Seeking accounting help will not only free up time, but it can end up saving you money in the long run!

While general accounting professionals and CPAs can help you get the most out of your money while properly keeping track of both money in and money out, they might not necessarily have in-depth knowledge of QuickBooks®—the #1 rated, best-selling small business accounting software.

Categories Payroll Services Author Lisa Cappiello

What you need to know about enrolling with a new payroll service!

So you’re starting a new payroll service. That can seem daunting at first. You may be asking yourself if it will work out and how to organize your payroll documents. Bottom line, you need to be prepared.

If you’ve never run payroll before, enrollment with your new service will be easier because you won’t need to provide any history.

Each payroll service is different, but there are certain basic laws that each state follows (like EIN numbers) that will help you enroll. Payroll doesn’t have to be challenging to set up.

If you are a new business:

  1. If you are a new business, you must first register with the IRS to get your Federal Identification Number (EIN). It’s free and automatic. Visit www.irs.gov. For existing businesses, move to step 2.
  2. New businesses must register with your state for income tax and employment insurance. (AK, FL, NH, NV, SD, TN, TX, WA and WY do not have income tax.) Existing businesses must find their number and the state’s unemployment rate from a letter, notice or previous tax filing.
  3. Have an account number and routing number ready from your company bank.
  4. If you have employees, you’ll need the following information:
    a. Personal information: name, address, Social Security number and email
    b. Pay information: birth date, hire date, status type, pay amount and deductions
    c. Marital status and allowances from W4 form
    d. Direct deposit information (if applicable)

    5. Want more tips?

    There’s always advice to be had at Beaton Accounting. Our experts are here, ready to answer your questions at a moment’s notice. For a FREE tax consultation, call today! (631) 921-6894.

    Have a question or certain topic you’d like to see addressed in our next blog post?
    Just leave a comment, or e-mail us at info@beatonaccounting.com.