Below please find daily updates pertaining to the latest in financial, business, and tax news:
AccountingWEB.com - NewsGrant Thornton takes a stand regarding SEC, IFRS Roadmap
Grant Thornton has been, and continues to be, a staunch supporter of the ongoing movement toward one set of high-quality, globally accepted accounting standards. As CPAs, we view financial reporting as a unique language used to communicate the economic results of a company’s activities and fiscal health. At present, that language features several different dialects, depending on where a company operates.
Saving QuickBooks clients from themselves: Set up Draw as an Other Expense
By Leslie Shiner, MBA, Advanced Certified QuickBooks ProAdvisor and Enterprise Certified QuickBooks ProAdvisor
Do you work with a Sole Proprietor or S-Corp? Has your client ever been confused by having to pay taxes on a large profit, when there is no money in the bank?
Sometimes we have to help save clients from themselves.
Small business and QuickBooks: Did you reconcile?
Love it or hate it, most small business owners are using QuickBooks to track their company’s finances. I’ve found that many people, while using QuickBooks to enter transactions, fail to follow through to ensure they are are getting everything entered. If you get to the end of the year with a bunch of missing transactions, it is going to be that much harder to track down the reason why your checking balance and your QuickBooks balance are worlds apart.
Before I give the basic how-to of reconciling in QuickBooks, let’s establish some ground rules:
Tools for virtual accountants: portals, applications, and file space
By Joanie C. Mann
There are three primary tools that every accountant or bookkeeper needs in order to work most efficiently with clients online. Using the Internet as the network, business professionals everywhere are realizing that the issues of time and distance no longer impact their ability to get work done. In order to make the most of your virtualized working model, consider the value of the following three elements you should have in your online toolkit.
QuickBooks at tax time: Cleaning up your client's QuickBooks data
