If you have never experienced the loss or the sabotage of your data … consider yourself lucky. It is not worth the risk of the loss of your data compared to cost of preventing it from happening. But what are your options ?
If your company is a S-Corp or files taxes as a S-Corp, you must handle medical premiums paid by the company for Officers with at least 2% stock ownership in a very specific way. We even find many CPAs and Accountants are not aware of this and how to setup properly in QuickBooks …
If you are a collision repair facility you may be concerned that your data you generate with your estimating systems and management systems is being collected, aggregated and sold to many companies. “Big Data” is among us, and it is used often against our industry.
We hope your Holidays were filled with good times, and you are ready for a great new year to take off.
When analyzing your financials it is very important that expenses are categorized correctly and expenses are assigned to the correct month. This isn’t always that easy when some expenses are for different areas of the business and the amount of the expense is for more than the month it was paid. There are important processes to put in place to correct this.
If you are using QuickBooks, the most obvious selection is to use Intuit Payroll. There are three basic Intuit payroll options … Basic, Enhanced, and Full Service.The Enhanced is the most common option used by small businesses since it included the tax filing forms for State and Federal, where the Basic option does not. However, this means you are responsible to do the payroll using Intuit’s tax tables, pay your taxes on time, file all the returns, pay at least $400.00 – $500.00 each year for tax table usage plu per employee fees each pay period, and a required QuickBooks upgrade every third year.
There are very good 3rd party Payroll Services that take the tax filing and report filing responsibilities and liabilities for you. This can free up valuable time and resources for you….
How much does it cost your business to accept credit cards ?
How often do your customers receive the insurance checks, deposit it, and charge the whole bill on their great “Cash Back” Card ?
This doesn’t have to happen and you can even eliminate all credit processing fees if you wish while accepting all credit and debit cards ! This is no gimmick, it is real.
Your IT Infrastructure –
When computers first entered our industry, most of the industry still was in the 1970’s in understanding what the future was to bring. We have seen so many poorly designed and maintained systems in our industry. Some of our clients are being almost held hostage by an IT company maintaining their system, and all at a very high cost of operation.
Are you currently buying pre-printed checks for your business ? If so, you are wasting hundreds of dollars each year ! This is the best solution there is for printing checks from QuickBooks.