By Bonnie Biafore | Wednesday, February 25, 2015
Did you know that if you run your business from home, you can use part of your home office expenses as company expenses?
Usually, you’ll record those expenses in your company’s books at the end of the year when you’re getting ready for tax season.
If you’re new to bookkeeping, you might wonder how to get those expenses into your company’s books. I’m going to show you how to use Journal Entries to record your home office expenses in QuickBooks.
By Alicia Katz Pollock | Monday, November 17, 2014
When I train people to use QuickBooks, I come across many “creative” ways of managing credit cards. If you don’t use QuickBooks’ tools properly, it limits your reporting in many ways.
Here are some of the best practices I recommend.
By Bonnie Biafore | Sunday, June 22, 2014
Say you discover a transaction that was recorded using the wrong QuickBooks feature. For example, you wrote a check in the QuickBooks’ Write Checks window to pay a bill and sent the payment off to the vendor. Now, it’s a month later and you see the vendor’s bill in QuickBooks: its status is unpaid and overdue. (Because you used the Write Checks window to write a check to the vendor, QuickBooks thinks the bill hasn’t been paid.) Even worse, you’ve already reconciled the check you wrote during your last bank account reconciliation. Fixing this error is as easy as 1-2-3:
By Bonnie Bills | Tuesday, April 27, 2010
If you’re still muttering to yourself about the drama that accompanied filing your business taxes, it isn’t too late to streamline the process for 2010. Personal finance expert and lynda.com author Bonnie Biafore has this advice:
“Before you forget, jot down the information you were missing, the reports you needed but didn’t have, and the journal entries your accountant had you record again this year,” says Biafore. “Then, log in to your QuickBooks company file. Set up accounts to track all your income and expenses the way you report it on your tax return. Customize some reports to match your accountant’s requests. And memorize last year’s journal entries so you can reuse them next time around.”
If you don’t already use QuickBooks, Bonnie’s QuickBooks Pro 2010 Essential Training gets you up to speed in setting up your books, running reports, and managing your company files. If you do use QuickBooks, this course offers great advice for getting the most out of all the core features in the latest version.
P.S. If you’re a spreadsheet addict who does all your financial planning and tracking in Excel, lynda.com has courses for Excel users at all levels. Use Numbers? We’ve got that covered. Google Docs spreadsheets? That, too.
By Bonnie Bills | Thursday, April 15, 2010
My name is Bonnie Bills, and I’m Associate Program Director for lynda.com’s business channel. We’re on a mission to offer more courses that will help our members succeed in business, whether your business is a one-person operation or a large enterprise, whatever your field, your title, your skill level, or your operating system.
I’d like to share a bit about our plans here, and I invite you to share your ideas in the comments:
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