Ok so I'm a new small business owner (new solo attorney) and I am CONFUSED about expense receipts. My google searches are pulling up pages and pages of apps, but not much on what I should actually DO (and what the most efficient ninja receipt warriors do!) What are your best practices for wrangling your business receipts, storing them, scanning/saving PDFs, entering them into your accounting program etc.? [more inside]
I recently took a job, and I think it was a mistake. My new boss is a horrible, moody manager and mistreats me. And I feel grossly unqualified and hate the type of work. But I'm afraid I'm just a quitter and letting my emotions get the better of me. [more inside]
No, nothing to do with taxes. I am a night auditor now, and the job is seriously activating my analytical streak. I'm pretty good at figuring out how things interact in our system and why they do what they do, but there is a vale I cannot penetrate, though there be wonders beyond it: what the $#&*# is a System Suspense Account? [more inside]
I recently asked someone at work for our operating budget for the purpose of registering for software discounts. I was given a number and it didn't quite make sense to me. I think that there may be at least two definitions of 'operating budget'. The workplace in question is a 501c(3) non-profit if that changes the definition. What would be tallied to make up the operating budget?
Looking for an accountant Ap for use on a Mac Mini, does not have to be free or inexpensive, just effective and not too complicated! [more inside]
Help. I'm being told by my employer that I need to buy Workers Compensation Insurance for myself to continue working for them. I believe I'm an employee and they should cover it. They believe I'm an Independent Contractor so I should pay it. This is in NYC. More info under the cut. [more inside]
Are there areas outside the U.S. -- or well-run organizations within it -- where the words Invoice and Receipt are properly used interchangeably? Cultural issues below [more inside]
I have accepted a new position with a U.S. company where part of the responsibilities will include assistance with tax accounting (i.e., reserves, DTLs, DTAs, reconciling tax returns to stat accounts, etc.). I am looking for recommendations for a good textbook that includes in-depth explanation of the principles as well as some exercises and worksheets to practice with. [more inside]
Looking for MeFites with knowledge of the (FAR) federal acquisition regulations. After 18 years of invoicing the goverment for travel as a contractor and now subcontractor, a new auditor is saying I cannot charge for flights that do not orginate and end at a home airport. No one has ever said this before. Can someone tell me where this is referenced in the 1000+ pages of the FAR.
I'd like a general sanity check on our plans for setting up multiple bank accounts in an effort to bring some organization, structure, automation and discipline to the movement of funds in the small business I'm working with. [more inside]
We are a well known bicycle brand, and one of our local dealers closed up shop over night with no notice to us or even their employees. They have over $20,000 in debt with us. What are our options? Our dealer owes us over $20,000 in debt for stock, with some invoices close to 4 months past due. [more inside]
My firm needs a coding/numbering system for proposals, estimates, and invoicing to be used for bookkeeping and accounting. Ideally, this system will reference clients and projects, so proposals can be tracked to invoices, and vice-versa. Please recommend your favorite/best practices for coding and numbering systems for proposals, estimates, and invoicing!
How can one learn about the Canadian tax system (Toronto, Ontario to be specific) in the easiest way possible? Does one need to do a ton of reading to grasp the basic concept behind how they work or are there nice videos and presentations that explain how they work? [more inside]
I need to calculate the interest to be paid on a loan of $300,000 with a term of 4 years where the effective interest rate is 10%, payable monthly in arrears. How do I do this? [more inside]
Why is a company making all employees to take a paid vacation? [more inside]
Manilla is closing, and I'm heartbroken. This app takes care of all of my accounts. Credit union, bank, investments, credit cards, amazon card (which mint can't do), auto loan, mortgage, utilities, subscriptions, everything! So I need a replacement. [more inside]
Ok, I went freelance about 4 years ago…and it’s been great. My problem is this: I spend time avoiding paperwork. I have a small set of tasks that someone could do. I’d like to hire someone for (at the least) handling invoicing and collections. What/who am I looking for? Is that a bookkeeper? [more inside]
I have a job interview this week with a firm using an Oracle SAP accounting environment to track business expenses. While my background is in office administration, I want to be more prepared for this kind of working situation - what can anyone tell me about using this kind of application so I know what I'm talking about on the interview? [more inside]
I am finishing my PhD in the life sciences this year. I do not want to stay in science. I have been debating switching to an accounting career. Difficulty level: bachelor's degree in mathematics, masters degree in biochemistry, phd in pharmacology. But no accounting coursework or direct experience. Also I will be 34 in November. How realistic of a switch is this and how long will it take me, best case? Advice for what to start doing NOW to make this as efficient as possible?
I'm a 30 year old with a BA in psychology working at a bank and hoping to find a new career. I'm trying to find a career path that will give me a decent living without being a workaholic. I am willing to go back to school, but hopefully not for more than 2 or so years. I am willing to take on some debt, but not a ton. I am considering 1. Human Resources 2. Accounting 3. IT / Something with computers 4. Any other good suggestions. Are any of these a good change for someone my age? I don't want to go back to school only to find out that the field is bad for non 20-somethings. How are prospects for entry-level workers? (I have looked at "official" projections, but would welcome any insider knowledge). Is there anything else that I should consider? [more inside]
What is the best way to move money between retirement accounts while I am currently employed so that I can access it and minimize penalties when I go back to school? (Many, many details inside) [more inside]
NameFilter: Looking for a name for a small tax accounting firm that is marketing itself primarily towards artists and other creative types. [more inside]
Every month my company sells roughly $15,000 worth of monthly recurring revenue contracts with five year term lengths. The service sells for $1,000 per month so every month we sign on 15 new customers. $15,000 * 12months * 5 years = $900,000 (total contract revenue for all 15 contracts sold during the month) We've maxed out our borrowing on physical assets held by the company and I need to find a way to unlock these revenue streams to use as collateral for further growth. What's the best way to do this? I would prefer to not have to go to every customer and amend their contracts in any way. Thanks!
My husband and I have a small consulting business. I would like to scan all our receipts and then download them into Sage 50 so as to save time when doing our monthly accounting. Do you have any experience doing this? What hardware/software did you use? Did you have to do anything special to be compliant with the CRA? [more inside]
We are a retail business, ~10 employees, multiple locations of inventory and some drop-ships. I am looking at both Quickbooks Enterprise and something from the Sage 50 family but can't find anything online that provides a good comparison. Anyone use both? Opinions?
Could I undergo a training program and be an "accounting assistant" on evenings and weekends during the upcoming tax season? Is there another way to become a part-time accountant? I'm also considering a career transition and wonder if accounting would be a good long-term direction for me. [more inside]
With the help of an accountant, I'm trying to teach myself bookkeeping for our small business. Our business is set up so that we collect *x-amount* when a client reserves our services, then *x-amount* six months before we provide the service, then finally, *x-amount* 30 days before we provide the service. Our accountant is advising us to accept these amounts as prepayments and not generate an invoice until we've received final payment. Basically, even though this money is going into our bank account, it's not showing as income on our income statement until we've received final payment/generated the invoice. Is this the best way to do this? [more inside]
I'm looking for inexpensive or free resources for learning basic small business accounting from home. [more inside]
I'm taking over the reins of a small, amateur sports team. Our budget is under $5,000/year, mostly donations solicited from sponsors. How do I manage this money? [more inside]
I'm running an event and have been using PayPal for a lot of payment processing for exhibitor booths, workshop fees, and assorted other items of varying amounts. Most items are invoiced, but we have a number that people purchased through PayPal buttons for specific items. I can't seem to find a way to easily download just a list of particular items that were purchased that includes the customers name. Am I missing something? Please let me know.
Accountants of metafilter! Should I attempt to become one of your number? I have a secretarial gig at a university. I want to continue working at the university for as much of my career as possible, and I'd like more responsibility and challenge. In my current role, I do some proto-accounting stuff unique to this position (some reporting, some tracking of numbers, some fancy work with Excel). I enjoy these parts of my job. This leads me to wonder whether I should get an accounting degree. [more inside]
I have looked at previous questions but truly don't understand what I am actually needing enough to judge suitability. Here's what I have and what I need. I don't know what to track (in the finer sense) or how best to track it but I have a fair bit of money coming in and out and I'd like to know if I am ahead this year and also whether I have (for instance) enough tax room to upgrade stuff that I can write off (ie new Macbook Pro, specific software for my stuff, specific hardware etc.). [more inside]
Is there a regulatory system that applies to accounting similar to ISO? More details inside. [more inside]
I have a copy of Quickbooks 2012 for Mac that I just put up for sale on ebay. (The program just wasn't for me.) I am getting a number of inquiries from interested bidders about the transfer of the license of the software. I do not recall if I ever officially registered the software after i installed it or not. I played around with it for a little bit and decided it wasn't for me. I uninstalled the software and it has sat in a box until I put it up today. How do I go about ensuring that the software and license have my info removed so that the winning bidder can install it on their computer with little to no hassle? The Intuit/Quickbooks website offers a lot of contradictory information. Much thanks.
My employer has allocated $500/year as a benefit to me for training. I have not used it yet this year - suggestions? Areas I'd like to focus on - accounting, excel, QuickBooks, management training. I'm open to other things if they would be useful. [more inside]
I am still in school and doing pretty well... close to 4.0 and have two audit internships under my belt. Big 4 is likely an option as are several other Fortune 500 companies in the area and I have connections in the Federal government that can get me a job there. BUT.... I don't really want to be involved in all of that. I am doing internal audit in a company right now and even though I have the ability to work 60-70 hour weeks the question is "Do I want to be doing this on a regular basis for the next 35 years?" and the answer is "No". I want to have a life outside of work, spend time with my (future) family, and...Start an Accounting business. [more inside]
As a small non-profit how should we be making and accounting for bank deposits? [more inside]
Hi all, I own one third (i.e. approx. 33.3%) of a UK company for which I am also a director. The remainder of the company belongs to a single shareholder. I'm worried that the financial structure of this company means that the company could effectively be 'sold' to a third party without me getting a cent. [more inside]
Before I begin, I know the most popular and reasonable answer will be to learn and use Quickbooks. There is some sort of 'block' in my brain that will not allow me to learn quickbooks and I am content in using a different software to do the simple things I am needing to do... [more inside]
I'm currently looking at adopting Freshbooks or Kashoo, and would be interested in experiences with either, or other recommendations. Context: I'm a few years into freelancing (across a few different industries) and I'm working on improving my accounting, with the goals of easier tax time, smoother day-to-day operations, and better information about cashflow and budgeting. Right now I use Toggl for time tracking, and Mint for expense tracking and budgeting; I like Toggl but I'm not married to it, and Mint is starting to drive me absolutely nuts. I do invoicing and bookkeeping manually. Also welcome would be general tips on bookkeeping and accounting for small businesses / freelancers. I'm on a Mac, in Canada.
I'll be shooting a feature film in L.A. later this year, and I need some advice about how to handle the business side. I'm hoping that somewhere there's some sort of low-budget service that provides help to people who are new to the process. [more inside]
Can anyone recommend simple-to-use, free, web-based software that can easily reconcile accounts for a small partnership? [more inside]
Accounting degree, experienced bookkeeper working for other folks, already know Quickbooks, etc. A small amount of capital ($5-6k) and a current part-time job that pays just enough to cover my expenses, but it's only going to last another year or so. I could go get another bookkeeping job, but I'm sick of making next to nothing and having next to no control over my work. How can I make myself viable as a business? [more inside]
Looking for a very robust but reasonably-priced online accounting system for small business [more inside]
Please recommend podcasts about accounting, economics, or finance. A Canadian focus would be a bonus but not a necessity.
Looking for recommendations for small business accounting software - your thoughts? [more inside]
How can I get my nonprofit an independent audit pro bono? Is it possible? [more inside]
Should I teach guitar lessons "under the table" or create a legitimate business? [more inside]
Accounting puzzle: how to log cash transactions for accounts held in a foreign currency? [more inside]
How important is it for me to get an accountant now that I'm earning most of my income as a freelancer? Can I handle taxes on my own? [more inside]