What’s New in QuickBooks Premier 2013

QuickBooks Accounting Services – The latest version of QuickBooks Premier features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.

  • View customized sales and profitability reports:Keep track of your biggest moneymakers so you’ll know which products to promote and keep in stock, and which to drop from your line.
  • Access your inventory items all in one place with the Inventory Center:Easily find and locate inventory tasks by accessing your inventory items and reports all in one place with QuickBooks Inventory Center. Add a notes field to each item for quick identification.
  • Track your balance sheet by class:Now you can now track data separately by location, department, or profit center with a single, easy to access report.
  • Run ‘Cost to Complete Job’ report:Keep tabs on how much it will cost you to complete each job, and how your actual costs are comparing to your estimated costs.
  • Document and track change orders:As a job changes, simply enter change orders into the estimate to keep track of the changes and their impact on your bottom line. Change orders are included on documents you print for your customer so that there are no surprises at the end of the job.
  • Bill clients progressively by job phase:Track and bill clients by time & material, job phase, or percentage completion, whatever works best for your unique business.
  • Track time and expenses by employee, project, client, or service & create an invoice:Decide who to bill by seeing all clients with unbilled time and expenses on a single screen. No need to create an invoice from scratch–just open the Invoice for Time & Expenses screen and select the client and job combination. Outstanding billable time and expenses are transferred directly to the invoice. 

For no obligation free consultation contact us today!

ABA Tax Accounting

Authorized QuickBooks Affiliate

612-282-3200 Toll Free (866) 936-0430

www.abataxaccounting.com

amare@abataxaccounting.com

QuickBooks Accounting Services

Published in: on October 5, 2012 at 7:33 pm  Leave a Comment  
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What is the Life Cycle of an Exempt Organization?

Non-Profit OrganizationsOrganizations that meet the requirements of Internal Revenue Code section 501(a) are exempt from federal income taxation. In addition, charitable contributions made to some section 501(a) organizations by individuals and corporations are deductible under Code section 170.

Here are the five stages in an organization’s life cycle:

  • Starting Out: Creating an organization under state law, acquiring an employer identification number, and identifying the appropriate federal tax classification.
  • Applying for Exemption:  Acquiring, completing, and submitting application forms; how the IRS processes applications; and getting help from the IRS during the application process.
  • Required Filings:  Annual exempt organization returns, unrelated business income tax filings, and other returns and reports that an organization may have to file.
  • Ongoing Compliance:  How an organization can avoid jeopardizing its tax-exempt status, disclosure requirements, employment taxes, and other ongoing compliance issues.
  • Significant Events:  Audits, private letter rulings, and termination procedures.

Considering a Tax Professional? For no obligation free consultation contact us today!

ABA Tax Accounting

Amare Berhie, Senior Tax Accountant

amare@abataxaccounting.com

612-282-3200

866-936-0430 Toll Free

http://www.abataxaccounting.com

www.abatax81.blogspot.com

www.abataxaccounting.wordpress.com

Published in: on October 5, 2012 at 4:01 pm  Leave a Comment  
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Who is Self-Employed? What New Business Owners Need to Know About Taxes

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Federal, State, Local and International Taxes – Generally, you are self-employed if any of the following apply to you.

  • You carry on a trade or business as a sole proprietor or an independent contractor.
  • You are a member of a partnership that carries on a trade or business.
  • You are otherwise in business for yourself (including a part-time business)

Self-Employed: Don’t Forget to Deduct Health Insurance Costs this Year. Under the Small Business Jobs Act of 2010, can reduce your net self-employment income by the amount of your self-employed health insurance deduction on Form 1040. Considering a Tax Professional? For no obligation free consultation contact us today!

ABA Tax Accounting

Amare Berhie, Senior Tax Accountant

amare@abataxaccounting.com

612-282-3200

866-936-0430 Toll Free

http://www.abataxaccounting.com

www.abatax81.blogspot.com

www.abataxaccounting.wordpress.com

Published in: on October 5, 2012 at 12:48 pm  Leave a Comment  
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