Harrisburg Bookkeeping Tips of the Week
Harrisburg Bookkeeping Tip of the Day! Business credit cards can be really useful tools if used properly. Obviously, you never want to pay credit card interest, but if you are a new business, you can open new credit card accounts and get really good interest rates. I used 3 cards when starting my business. Capital One gave me a $2,000 credit limit with 0% interest for the first 12 months. American Express and Chase gave me an $8,000 credit limit with 0% interest for the first 12 months. #Harrisburg #Bookkeeping #creditcards #business
Harrisburg Bookkeeping Tip of the Day. You need to accurately manage your bills and accounts payable so that you can keep your vendors and contractors happy and paid on time! I have a very specific piece of advice. You can use 2 different dates when recording bills. You can use 1) the date on the actual bill you receive from your vendor or contractor. Or you can use 2) the date you actually receive that bill from your vendor or contractor. I recommend using #2 because you never know what date might be on the bill. It's easiest and most consistent to just record the specific date that you received the bill. Just make sure you clearly communicate your policy upfront to everybody! #Harrisburg #Bookkeeping #Payroll #business #entrepreneur
Harrisburg Bookkeeping Tip of the Day. This is for real estate investors and trucking companies. You can track the profitability of your multiple assets by using class tracking in QuickBooks. For example, you have 2 rental properties, you receive rental income and you have various expenses. Instead of having 2 companies, you can have 1 company with 2 classes to track the profitability of your assets. 1 property might be making money while the other property is losing money. YOu would never know if everything was combined. Track your assets through class tracking in QuickBooks! #harrisburg #bookkeeping #realestate #quickbooks #profitability #trucking
I'm always so surprised when people agree to pay me $500/month for bookkeeping services because to me, it's so simple. Why would anyone else pay for someone else to do something that they could easily do on their own? But not everyone thinks the way I do. For example, I need to redo my website, and I am totally lost. I don't even know where to begin. So people who do advertising or marketing, probably feel the same way. With that being said, never undervalue your service. Never be afraid to charge other people for what you do because you're an expert in your field. #Harrisburg #bookkeeping #marketing #entrepreneur #businessowner
Harrisburg Bookkeeping Tip of the Day. This single step, this one change, will make your bookkeeping significantly more accurate and simple. Stop spending cash. It's hard to track who you paid and what you bought when you just go to the ATM, pull our $400, and go buy supplies. It's simple, just use a credit card, debit card, or check when you buy things or pay people. Also, in the event of an audit, it will be difficult to explain to the IRS how you spent $400 if you don't have receipts. #Harrisburg #Bookkeeping #IRS #TAXES #business #entrepreneur
Harrisburg Bookkeeping Tip of the Day. People always ask me, "When is the best time to start a trucking business?" I tell them the same thing every time, the best day to plant a tree was 20 years ago, and the 2nd best day to plant a tree is TODAY. The same concept applies to starting any business that you think is a good idea. It applies to investing in the stock market. WHY? Because no one can predict the future, so stop waiting, just DO IT. The same concept applies to bookkeeping. Start doing your bookkeeping TODAY! #Harrisburg #Bookkeeping #Trucking #Investing #Gardening
