Eric Hempler

If you use a linking software, you will need to re-map the tax rates on 1st August, (but remember that the early August payout will include Jul & Aug dates!) If you don't use one, is now the time to start?? If you need help researching or implementing best-fit software, I can help! Get in touch for more details!

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If you use a linking software, you will need to re-map the tax rates on 1st August, (but remember that the early August payout will include Jul & Aug dates!) If you don't use one, is now the time to start?? If you need help researching or implementing best-fit software, I can help! Get in touch!!

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If you use a linking software, you will need to re-map the tax rates on 1st August, (but remember that the early August payout will include Jul & Aug dates!) If you don't use one, is now the time to start?? If you need help researching or implementing best-fit software, I can help! Get in touch for more details!

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You already own the skills to start your own bookkeeping business! Here are some tips on how to use them! https://lnkd.in/edP5eDGx

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🌟 **Smart Financial Tips for Small Business Owners!** 🌟 Boost your business with these quick tips from accounting pros: 1. **Automate Transactions:** 📲 Use tools to handle invoicing and payments automatically. 2. **Set Clear Goals:** 🎯 Outline financial goals to guide budgeting and investments. 3. **Stick to a Budget:** 📝 Create and follow a detailed budget for better expense management. 4. **Monitor Metrics:** 📈 Track key financial metrics like profit margins regularly. 5. **Manage Debt:** 💳 Keep a close eye on debt and work on reducing it over time. 6. **Build an Emergency Fund:** 💰 Save for unexpected expenses to keep your business stable. 7. **Review Statements:** 📊 Regularly check your financial statements for accuracy. 8. **Stay Tax Compliant:** 📑 Keep up with tax deadlines and regulations to avoid issues. Need more advice? Drop a comment or DM us! #SmallBusiness #FinancialTips #Accounting #Budgeting #CashFlow #DebtManagement #BusinessSuccess

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Way to track grants in QuickBooks for Non-Profit: 1. Add the Grantor as a Customer   - Go to Sales > Customers > New Customer.   - Enter the grantor's details (the one giving the grant). 2. Create a Grant Income Account   - Go to Settings > Chart of Accounts > New.   - Select Income and name it "Grant Income." 3. Set Up the Grant as a Project   - Create a sub-customer or project under the grantor's name if you want to track a specific grant. 4. Create a Grant Item   - Go to Sales > Products and Services > New.   - Set up an item called "Grant" and link it to the "Grant Income" account. 5. Track Grant Money   - When you receive the grant, use Sales Receipt or Invoice and select the grantor and "Grant" item. 6. Record Grant Expenses   - When spending the grant money, record the expenses and choose the related grant project. 7. Run Reports   - Use reports like Profit & Loss by Customer to see how much you’ve received and spent on each grant. This process makes it easy to track both grant income and expenses in QuickBooks. #quickbooks #bookkeeping #CPA #trending #financialreporting #intuit #accountant #accounting

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Reasons Why Bookkeeping is Important for Your Business? Bookkeeping is very important for the success of your business. Following are some reasons why it's important: ❥ Financial Management ❥Business Planning ❥Tracking Performance ❥Financial Health ❥Budgeting and Forecasting ❥Decision Making ❥Tax Planning ❥Credibility ❥Risk Management #bookkeeping #BookkeepingTips #reconciliation #quickbooksonline #xero #wave #taxseason #payroll #realestate #invoice

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*Why Every Business Needs a Bookkeeper* As a business owner, your time is precious. Juggling clients, managing operations, and planning for growth often leave little room for managing the books. That’s where a professional bookkeeper comes in! Here are some key benefits of having a bookkeeper: 1️⃣ Accurate Financial Records Bookkeepers ensure your financial records are organized and accurate, making tax season and audits stress-free. 2️⃣ Saves Time Focus on growing your business while your bookkeeper handles time-consuming tasks like invoicing, expense tracking, and reconciliations. 3️⃣ Improved Cash Flow Management Bookkeepers monitor your cash flow, helping you spot potential issues and make informed financial decisions. 4️⃣ Compliance and Tax Readiness Stay on top of tax deadlines and ensure your financials comply with regulations. 5️⃣ Strategic Insights With clear financial reports, you can make better business decisions and identify opportunities for growth. 6️⃣ Reduced Stress Leave the numbers to the experts so you can focus on what you do best! Having a bookkeeper isn’t just a luxury—it’s an investment in your business’s success. Whether you’re a startup or an established company, having accurate financials can make all the difference. Are you ready to take your business to the next level? Let’s chat about how I can help as a certified remote bookkeeper! #Bookkeeping #SmallBusiness #FinanceTips #BusinessGrowth

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Skipping bookkeeping is like trying to run a marathon in flip-flops. 🏃‍♂️🩴 Imagine your profits are like a leaky faucet. Drip, drip, drip. 💸 You wouldn't ignore a leaky faucet, right? So why ignore your bookkeeping? It's not just about numbers. It's about knowing where your money is going. 🕵️‍♂️ Think of bookkeeping as your business's personal trainer. It keeps everything in shape and prevents financial flab. Without it, you might be spending more on coffee than on marketing. ☕📈 And let's be honest, no one wants to explain that to their accountant. So, grab those receipts, fire up that spreadsheet, and give your profits the attention they deserve. Your business will thank you. If you feel you need help with your ecommerce business let us know. Click link in our profile to learn more about services and prices. #ecommerce #entreprenuer #Business #Management

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Bookkeeping mistakes to avoid ● Mingling personal and business finances. Mixing your business and personal income and expenses makes for messy books, which can have legal and tax consequences. Keeping a separate bank account for your business lets the IRS know your business is a legitimate separate entity. ● Not backing up your records. Is all your income and expense information in one place? What if that software crashes or you can’t access that account? Regularly back up your records with a simple download to make sure they’re there when you need them. ● Lumping all your expenses together. Tell us you track your expenses as separate line items?! Don’t just note a lump sum for each month or quarter or – eek – year, because tax authorities treat each type of expense differently. ● Poor communication with stakeholders. Whether you’re working with employees or contractors, fellow agents, or property investors, keep and share meticulous records of your business dealings with them. You don’t want someone knocking on your door at the end of January trying to figure out the commissions you paid them last June. ● Forgetting about estimated taxes. Estimate quarterly taxes for your business are due every April 15, June 15, September 15, and January. 15. Forgetting to pay them and waiting until you file your tax return could mean not only a surprise bill at the end of the year but also a slew of fees for late payment. ● Incomplete recordkeeping.  Familiarize yourself with real estate tax deductions, and track your expenses throughout the year with the proper paperwork — i.e. bring receipts. ● Not consulting experts. Not every business owner needs to hire a bookkeeper. But for many of us, getting an expert involved can save a lot of headaches. They put in the time of tracking your finances, so you can focus on running your business. And they bring the expertise needed to keep all your financial ducks in a row and plan properly for taxes. Need help with your Books? Book a call! Send me a personal message or schedule a free discovery call to learn more: https://lnkd.in/gnfqZdx3 https://lnkd.in/gD-Gd8Di

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Streamline Your Invoicing Process to Get Paid Faster! 💸 Happy Thursday, everyone! 🌟 Today’s tip is all about getting your hard-earned money into your bank account faster. For business owners, streamlining your invoicing process can significantly improve your cash flow and reduce stress. Here’s how: 1. Automate Invoicing: Use bookkeeping software to automate your invoicing. This not only saves time but also reduces errors and ensures that invoices are sent out promptly. 2. Clear & Detailed Invoices: Make sure your invoices are clear and detailed. Include all necessary information such as item descriptions, quantities, prices, and payment terms. This reduces the chances of disputes and delays. 3. Set Payment Terms: Clearly state your payment terms on every invoice. Whether it’s Net 30, Net 15, or due upon receipt, make sure your clients know when and how to pay. 4. Follow Up Promptly: Set up reminders for overdue invoices and follow up promptly. Consistent follow-ups show your clients that you take payments seriously and encourage them to pay on time. 5. Offer Multiple Payment Options: Make it easy for your clients to pay you. Offer multiple payment options such as credit cards, bank transfers, and online payment gateways. Why It Matters: Faster payments mean you can reinvest in inventory and marketing more quickly. It helps you manage daily operations smoothly and ensures you have the cash flow needed to cover expenses. Ready to Get Paid Faster? As a professional bookkeeper, I can help you implement these strategies and more to streamline your invoicing process and improve your cash flow. Let’s connect and make sure you get paid faster! #ThursdayTips #Invoicing #SmallBusiness #Ecommerce #RestaurantOwners #CashFlow #Bookkeeping #FinancialHealth

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What makes a bookkeeper stand out? Detail-oriented With that in mind, your bookkeeper must be very detail-oriented. They will deal with the numbers you use to make critical financial decisions. A bookkeeper familiar with how your company operates will be able to detect patterns in your financial records and prevent mistakes.

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"What is bookkeeping??.. and do I need it?!" If you own a small business, absolutely you do. It is accounting for every transaction that comes and goes that has anything to do with your business-- via checking, savings, loan, credit cards, cash.. Are there duplicate transactions? Are you categorizing the expenses correctly? Are you setting up the Chart of Accounts correctly? (Did you just say in your head.. "what is a chart of accounts?"..) Are you listening to all of the "suggested" to dos from QuickBooks?! 😣 Do you know everything you can write off on your taxes via your business?!-- it's more than you think!.. Having an expert organize your books is critical for determining whether or not you can make certain purchases, if certain types of jobs are profitable, seeing what your cash flow really looks like.. Do yourself a favor and message me (or book a time via my scheduling tool below) today to see if we are a good fit to work together. It would be my pleasure to get and keep your books organized. https://lnkd.in/edPD9FHD “IT WASN’T RAINING WHEN NOAH BUILT THE ARK.” — HOWARD RUFF Katie Medley Bookkeeping LLC Virtual Bookkeeping Services www.medleybookkeeping.com katie@medleybookkeeping.com 443-699-4155 #medleybookkeeping #virtualbookkeeper #planahead #organized #smallbusiness #quickbooksonlinecertifiedproadvisor #bookkeeping #taxes #accounting #business #work #jobs #serviceindustry #construction #contractor

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"What is bookkeeping??.. and do I need it?!" If you own a small business, absolutely you do. It is accounting for every transaction that comes and goes that has anything to do with your business-- via checking, savings, loan, credit cards, cash.. Are there duplicate transactions? Are you categorizing the expenses correctly? Are you setting up the Chart of Accounts correctly? (Did you just say in your head.. "what is a chart of accounts?"..) Are you listening to all of the "suggested" to dos from QuickBooks?! 😣 Do you know everything you can write off on your taxes via your business?!-- it's more than you think!.. Having an expert organize your books is critical for determining whether or not you can make certain purchases, if certain types of jobs are profitable, seeing what your cash flow really looks like.. Do yourself a favor and message me (or book a time via my scheduling tool below) today to see if we are a good fit to work together. It would be my pleasure to get and keep your books organized. https://lnkd.in/edPD9FHD “IT WASN’T RAINING WHEN NOAH BUILT THE ARK.” — HOWARD RUFF Katie Medley Bookkeeping LLC Virtual Bookkeeping Services www.medleybookkeeping.com katie@medleybookkeeping.com 443-699-4155 #medleybookkeeping #virtualbookkeeper #planahead #organized #smallbusiness #quickbooksonlinecertifiedproadvisor #bookkeeping #taxes #accounting #business #work #jobs #serviceindustry #construction #contractor #digitalmarketing

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This Bookkeeping issue plagues small business financial statements Not reconciling credit card transactions fees from providers like Stripe Why is this an issue? Stripe is going to report the total of all transactions to the IRS (before their fee) If you only report the amount after their fees the IRS WILL send you a notice Do you like receiving IRS notices in your mailbox? I know I don't Did the answer to this question help you? Join other business owners in the Financial Elevation Group each month and get YOUR questions answered by a Growth-Focused CFO Check it out here -> https://lnkd.in/e8NUXA4k

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