My client, Katie, current owns and operates a small home remodeling business. Each month, her client sends to her a $60k check payment as an upfront payment for materials & labor costs. Then Katie proceeds to purchase the necessary materials and labor to continue the project for her client. As Katie’s bookkeeper, I do see this $60k deposit into her bank account (each month) and I always book this as “Deferred Income” which is a liability account. This liability account always has an ongoing and fluctuating balance as moneys are received and spent accordingly. However, one has to know exactly how much moneys to deduct from this liability account in the books and when. This is because this liability account is only reflected on the balance sheet and NOT on the profit and loss; Katie needs to know her profitability each month for this job so she can ascertain whether or not she is spending too much on materials and labor costs. Note: there are other factors that assist in determining this; however for the purposes of this article, I will not delve into these other factors here. So, in order to move a portion of this “deferred income” amount off of the balance sheet and on to the profit & loss area (hence the name “deferred income”) each month, I simply calculate how much of this $60k payment for the month was spent on project costs. Once I have this total, then I proceed to make a journal entry: Debit to the Deferred Income liability account and a Credit to an Income account (that will be reflected on the Profit & Loss statement). Some important notes here: ·      The ongoing expenses will be seen in Katie’s bank account as she spends the money and I book these accordingly that will affect the expenses area of the Profit & Loss statement. ·      The expenses, as Katie spends the money, and the income account, as referenced above, will offset each other. ·      For Katie, the only profit she is making on this project is her separately billed administration fee of $12k each month.   Note: AccuraBooks is a bookkeeping firm only, so please consult with your Certified Public Accountant for clarification about the contents of this article.   ...read more

My client, Elizabeth, has multiple payroll bookkeeping issues. I always advise clients to never fall into payroll issues and never let them fester and go ignored as these usually can have a direct effect on a payroll tax form or even a payroll tax payment. Elizabeth’s payroll bookkeeping issues were: 1.    Using two different bank accounts to pay employees with. a.    She would process the entire company’s payroll, within her payroll module, using one bank account, but writing paychecks using multiple bank accounts. b.    Unfortunately, Elizabeth’s payroll software does not allow the bookkeeper to change/match bank accounts, per employee handwritten paycheck. c.    This increased the difficulty of bank cash reconciliations later on; so to resolve this issue, the bookkeeper (me) would have to make a manual journal entry to decrease the amount of funds in the bank account where paychecks were actually being cashed/cleared from, and increase the bank account where the original payroll was processed from but NOT being used to actually write the paycheck from. 2.    Not filing her most recent quarterly payroll tax forms and payments on time. a.    The first step I had to undertake was catching up on all bank reconciliations up to date to verify the absence of payroll tax payments, both to the IRS and Texas Workforce Commission. b.    The next steps were to submit e-payments to the IRS for all payroll taxes due, both for the 941 and 940 (FUTA) forms, then turn around and process the quarterly 941 for Elizabeth to sign and mail in. c.    My next step was to actually login to Elizabeth’s company Texas Workforce Commission account online to ascertain the exact filings and payment amounts due, then proceed to e-file from the payroll software (as this is easier) then, after two business days, log back into the TWC account online to pay all back taxes and late fees due, which was higher than what her payroll software was telling her due to the late fees plus the inaccurate tax rates previously entered into the payroll software as the state payroll tax rates usually renew/adjust each year.   Note: AccuraBooks is a bookkeeping firm only, so please consult with your Certified Public Accountant for verification and clarification about the contents of this article.   ...read more

The Impact of Printing in Color Color printinghas become an important component in projects because it can decrease human error rates. It has been proven that color documents are more easily understood and the information is retained at higher rates versus monochrome documents. The use of color documents reduces errors and allows a team to easily understand the sections of a plan for which they are responsible. During the bidding phase, color documents make a more professional impression than monochrome documents. Benefits include faster reading, more time efficiency, save time and money, reduce delivery time, and better communication. ...read more

My client, Tammy, has multiple companies (each company does have its own EIN) and thus is always transferring cash between companies: I have recommended to Tammy not to abuse this practice due to tax reasons, especially if she were to ever create business structures that would require, amongst other things, these transfers to be treated as taxable gains. However for Tammy, her business structures are the types that require more of a simpler approach to the balance sheet bookkeeping. Examples: 1.     One way to handle transfers for Tammy (between her companies and NOT from Personal accounts) is to create basic investment equity accounts: o   Company A wants to transfer funds to Company B, thus Company A would create an “investment into Company B” equity account, while Company A would create an “investment from Company A” equity account. 2.     Another way to handle transfers for Tammy (between her companies and NOT from Personal accounts) is to create “Due To/From” asset/liability accounts: o   Company A wants to transfer funds to Company B, thus Company A would create a “Due To/From Company B” asset account, while Company B would create a “Due To/From Company A” liability account.   The first option above should require at least a periodic reconciliation between the two company’s corresponding equity accounts as the investment “to” from the first company should equal the investment “from” from the second company. The second option above should be treated as a loan with a loan contract between both companies, thus the company receiving the funds should have to pay back the company that disbursed the funds, complete with interest as well. Note: AccuraBooks is a bookkeeping firm only, so please consult with your Certified Public Accountant for verification and clarification about the contents of this article.   ...read more

In order to maintain the level of any organization, one needs a lot of research upon advancement on technologies that are convenient for their customers. There needs to be a constant study to understand what the customers accepts & prefer to operate for saving time and money. Intelligent Securitiesprovide the expertise in IT consultation, Network Maintenance, Computer Training, Network Security, and Hardware and Software Implementation, and IT Maintenance. Intelligent Securities offers a wide range of IT Securitywith the necessary tools and expertise to help secure your business. Providing cutting edge security for all network accessed technologies. We partner with our clients from start to finish, focusing on their needs while producing new ideas, developing effective strategies and designing high quality and scalable solutions.  Intelligent Securities was founded with one single mission in mind: to create a medium in which the security needed to provide safe network  activities that do not compromise user experiences. We take pride in being the most successful, creative and ground-breaking information security consulting firm in the Central Virginia Tri-Cities Area , which allows us to approach each of our clients with fresh eyes to develop customized, unique strategies. Visit www.intelligentsecurities.net for more info. ...read more

Glow Academy is top rated beauty makeup school offering Diploma programs and certificates courses,makeup classeswith locations in Toronto, Mississauga and Kitchener-Waterloo regions. At Glow Academy we offer certificate courses in the areas of Makeup Artistry, Airbrush Makeup, Hair Design, Lash Extensions and Aesthetics. Our certificate courses do not require approval under the Private Career Colleges Act, 2005. Combining certificate courses does not make your courses a vocational program. Our students while still learning are given the opportunity to partake in real industry events like fashion shows, magazine shoots, beauty pageants, TV, films and music videos. Graduating with a resume/portfolio of actual industry experiences makes you a more desirable candidate in the marketplace, whether you are looking to freelance or get called in for an interview to land that first job! ...read more

McDonald’s always strives to ensure customer satisfaction and tries to keep the standards at a high level. WithMcDVoiceSurvey and feedback portal, McDonald’s is trying to get real opinions and reward your customers when they complete a Customer Satisfaction Survey. The McDonald’sMcDVoicesurvey offers customers a voucher coupon that can be redeemed by their next visit to McDonald’s store. By visiting the official website, customers can provide their feedback and comments on their last visit to the restaurant and receive a reward for the same. McDonald’s strives to continue to improve to maintain its place as the global fast food leader it is today. To keep a tab on their service and customer feedback, they offer a survey for customers to take, where in exchange for taking the survey, you are rewarded with a coupon for a free BOGO menu item of their choice. McDonald’s is looking for your valuable feedback! In return for your opinions, you can get a free discount coupon good for your next visit. All you need to do is visit mcdvoice.com and give them your honest opinions about your last visit. For your reward, you will receive a discount coupon good towards your next visit to McDonald’s. To know how to participate and completeMcDVoiceSurvey step by step, Visithttp://mcd-voicee.com ...read more

Sparksight is not only a cheeky video production company in Austin, Texas, we also run a rockin' blog! We cover topics ranging from video production, video editing, photo editing, digital marketing strategy, social media strategy, tech trends and more! Check it out @   www.Sparksight.com/blog/ ...read more

My client, Veronica, had some accounts receivables issues recently. 1.    One issue was a customer was many months past due on payment on her invoice, which was still completely outstanding. Veronica instructed me to go ahead and write off this invoice to Bad Debt expense in the chart of accounts, which is exactly what I did in her QuickBooks Online company file. However, about a month later, this client, out of the blue, sent a check payment to partially pay for this invoice. The main problem was this check payment was received after the new tax year (January) had begun, and thus the previous tax year had already been closed out. To handle this situation, I simply left the previous invoice closed (to Bad Debt) and just booked the new check payment receipt directly to an income account, thereby completely avoiding accounts receivables, especially since we did not know if this client ever planning on sending any more check payments. 2.    Another issue involving another one of Veronica’s customers was one of her overseas (foreign country) customers did indeed send a wire payment to pay on an open invoice; however the payment was not for 100% of the total amount owed. Veronica applied this payment; however, many months later, Veronica asked my advice on what to do with the remaining open balance. After reviewing this open balance issue, I discovered the customer’s short pay was for exactly 3% of the total invoice. I advised Veronica that most likely this customer short-paid her because of the wire transfer fees the customer was probably charged and therefore probably wanted to pass on the costs to her, without telling her about it (to my knowledge). So, I advised Veronica just to close out the remaining balance of this invoice to Bank Fees, in which I eventually did. ...read more

A cryptoexchange or a digital currency exchange is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies Bitcoin Cash Wallet In this article, we tend to area unit attending to discuss the Bitcoin money billfold. to own it all you have got to try and do is to shop for the Bitcoin money from the exchange that provides you the currency. you may mechanically have the billfold in your possession however the matter is most of the exchanges have suffered the hacks. Bitcoin Mining Rig is that the issue that has gained craze within the cryptocurrency world. during this article, we tend to area unit attending to discuss the simplest Bitcoin Mining Rig which will be utilized by you to mine the bitcoin. With the increase within the worth and also the craze of the bitcoin. Bitcoin mining is one in all the simplest choices for individuals to shop for the cryptocurrency with the minimum expenditure or worth. except for that, you have got to line up the complete system to mine the bitcoin. These mining rigs may be valuable within the initial stages however you'll be {able to} cowl them if you're able to get the bitcoin because of the reward for the mining. ...read more

A cryptoexchange or a digital currency exchange is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies Bitcoin Atm Near Me With the rising use of the bitcoin, you may wish to understand the Bitcoin ATM close to the American state. If you've got a bitcoin and to use it then cashing out or shopping for it from the ATM is one in every of the simplest ways that to try and do it. during this article, we have a tendency to square measure reaching to discuss the varied things concerning the employment of bitcoin and ATM. Bitcoin Mining Calculator is employed to calculate mining gain for Bitcoin mining. Enter your Bitcoin mining hardware hash rate in GH/s at the side of the ability electrical power and your price of electricity - greenbacks per Board of Trade unit ($/kWh). the present Bitcoin issue, Bitcoin block reward, and Bitcoin worth are going to be entered mechanically. ...read more

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A good swimming pool inside your house is a big asset for people. Not many can afford such luxury at home but still many are always interested in investing such wonderful option whenever they can. Today, with the advancement and technology nothing is far from us. You can think of having a good pool, a home bar, a wonderful lawn or anything recreational at your home can be easily done by the experts. You will find many capable and goodswimming pool companiesproving services online to customers to solve all kinds of problems one goes through. Not only installation but theswimming pool repairservices are also equally important for us to maintain the charm and high quality. A swimming pool should be clean, the water should be processed properly, the quality of water that goes should be checked and the overall maintenance and management of pool are essential aspects of marinating a good pool inside your house. Today, there are many companies who are working on providing such services to customers at their door steps. A small investment on maintaining the beauty and charisma of the pool will give you much needed satisfaction whenever you see the wonderful pool by your side. swimming pool repair companies usually charge very little amount and you can avail wonderful options and packages to take care of your pool. There are sometimes unwanted issues with the pools that needs to be fixed on time to control the damage. Therefore, having a good online service provider will help you greatly in saving a lot of money. ...read more

My client, Sally, has not been too happy with full service payroll providers this year and now we are in the 4th quarter of the current year and she is, for the 2nd time this year, wanting to switch full service payroll providers, this time to AccuraBooks Full Service Payroll Solutions (Note: I will be her 3rd payroll provider this year). So, to be able to successfully migrate everything over to my payroll platform, year to date, I will request from Sally, at minimum, the following: ·      Copies of W2 forms for all employees (current or inactive) that have received an actual taxed paycheck this year from Sally; o  This information will be used to help create an employee profile in the new payroll platform. ·      Copies of I-9 forms for all employees (current or inactive) that have received an actual taxed paycheck this year from Sally; o  This information will be used to help create an employee profile in the new payroll platform. ·      Copies of Direct Deposit forms for all employees  (current or inactive) that have received an actual taxed paycheck this year from Sally; o  This information will be used to help create an employee profile in the new payroll platform. ·      Copies of all closed quarter payroll summary reports: these reports should be customized per quarter and per employee. o  This is to enter one after-the-fact paycheck , per employee for each closed quarter, just to get the employee current year’s wages and all applicable payroll taxes caught up to the most recent closed quarter. ·      Copies of all closed quarter payroll tax filings to the IRS and any state agency, such as the Texas Workforce Commission (non-profits may not be applicable for Unemployment Filings). o  This information will be used to compare to the payroll summary reports (for each quarter) to ensure the correct numbers were actually reported to the payroll tax agencies. ·      Copies of all payroll tax payments already processed for the current calendar year. o  This information will be used to compare to the payroll summary reports and payroll tax filings (for each quarter) to determine if the appropriate amounts were actually paid to the tax agencies. If Sally has already processed additional taxed paychecks for the current 4th quarter, then I will add this information as single, after-the-fact, paychecks (for each employee), and if feasible, into the new payroll platform and, as always (and very important), compare the summary numbers (for the 4th quarter and year to date) between the old payroll platforms and the new one, after all payroll data has been entered.  ...read more