Thursday, August 13, 2009
Tuesday, August 11, 2009
In most cases if you own a small business you are free to choose which method you would like to use for your small business. In most instances these methods differ only in timing of when the transactions are credited or debited to your account.
So lets break down each method
The cash method is most commonly used in small businesses. Income is accounted for when it is actually received and expenses are accounted for when they are actually paid.
Example: You own a consulting business and render services in April. You do not receive this money until June. Under the cash method you would record the sale of these services when the check or cash is received in June.
In the accrual method of accounting income is accounted for when services are rendered and expenses are accounted for when you receive goods or services. In this method you do not wait until you receive the money or actually pay for a good or service before you record a transaction.
So how do you choose a method?
Most small businesses with sales of less than $5 million a year can adopt either accounting method.
You must use the accrual method if:
your business has sales of more thatn $5 million a year or your business stocks an inventory of items that you will sell to the public and your gross receipts are over $1 million per year
(Reuters) - Huron Consulting Group Inc
Earlier this month, the consulting firm's entire top management team left as it announced the scandal that forced it to restate more than three years of results, slashing its profits by almost half because it misreported costs related to acquisitions.
Huron's board audit committee discovered that shareholders of four businesses that Huron acquired between 2005 and 2007 redistributed portions of their acquisition-related payments among themselves and to certain Huron employees.
The company continues to evaluate the impact of the restatement, it said in a regulatory filing.
It intends to file its quarterly report for the three months ended June 30, as well as the restated results of the prior periods, as soon as possible.
Chicago-based Huron, which was founded by two dozen partners from the collapsed accounting firm Arthur Andersen, said it intends to cooperate with the SEC in its investigation.
Huron built a reputation as an expert on litigation and regulatory issues. It advised United Airlines, a unit of UAL Corp
Shares of Huron closed at $13.54 on Nasdaq Monday. They have fallen 69 percent since July 31, when the company first announced it would restate results and its chief executive resigned. (Reporting by Sweta Singh in Bangalore; Editing by Mike Miller)
Monday, August 10, 2009
Well it took me about an hour and a half to figure it out. It was extremely simple and I feel pretty dumb not being able to figure it out sooner. So if you are having the same problem let me spare you some time with this quick and easy tutorial.
Go to your Business Page and underneath your picture there will be a link called More. You want to hit this button.
Once you hit the more link a drop down menu will appear. From this menu you want to hit Suggest to Friends.
After you hit the Suggest to Friends link a window will come up showing your friends from your personal Facebook page. Now all you have to do is select the friends that you want to inform about your business page and send the invitations.
It is that simple!!!
Sunday, August 9, 2009
In quickbooks hit the customer center link. This link is highlighted by a red circle in the picture below. (Please click the image to view in it's maximum size)
Once you click the customer center link a new window will open. This new window is the Customer Center window. In this window you will be able to view all of your customer's information.
Next you are going to want to hit the button at the top left hand corner of the Customer Center named New Customer and Job. After hitting this button a drop down menu with two choices will appear. New customer and Add Job. For the purpose of this tutorial we will hit the new customer button.
The difference between a New Customer and Adding a job are as follows: In quickbooks the term customer means anyone who pays you for goods or services. You can add new customers to the list at any time. Quickbooks uses the list to hold information about the people and companies to whom you sell your products and services.
Adding a job is much different. This is used when you want to track more than one job from a customer. For example if you own a construction company and you do a lot of subcontracting work for a certain company you use that company as your customer and the job names as the jobs.
The next step is pretty much self explanatory. The edit customer box will come up and you will enter in the information that you want about that specific customer.
This next step is not something you have to do but I would recommened it. If you want to add your customer's address then you have to go to the bottom left hand corner of the edit customer window and hit the edit button.
After clicking the edit button the Edit Address Information window will appear. Then all you have to do is fill out the information and click ok.
After you click ok you will be back to the Edit Customer Information window. Now you are all done and you can click ok. Once you click ok you will be brought back to the Customer Center window. You have now successfully added a customer to your Quickbooks file. Congrats!