Business Discussions

  Yesterday, QuickBooks Live Bookkeeper and accounting veteran Pam Bingham answered questions live on YouTube, Facebook, Twitter, & LinkedIn. During the livestream, Pam answered your questions about keeping finances in order, maintaining your books with accuracy, and managing time-consuming tasks.   It was awesome! Watch the replay below.    Our recent Twitter poll revealed many of you are interested in learning more about bookkeeping:                 If you missed the livestream, don't worry. Let's keep the conversation going in comments!  What bookkeeping questions do you have? 👇    And if you are looking for more like this, make sure to check out our Ask the Expert playlist on YouTube.  

  You know what rhymes with Fries.....Fri-day. Ok, ok, ok, don't close the tab just yet. I know that was very corny, but Thank God It's Friday (TGIF)! Right? I know its hard for some of you business owners to actually relax for a bit on the weekend; however, I encourage you to sleep for just a few more minutes before starting your day. Now, let's dive into the article. Shall we? I found this article by Business Insider, which explains ways to speed up the onboarding process, also known as training for new hires. Here's what they have to say:   Create a simple training outline The author encourages us to include relevant information that hirees need to know, as it corresponds with their job responsibilities and the work culture. When creating this outline, it would help if your directions were clear and concise. The reason being, I have noticed that, at times, there is no proper structure during the training process. Every trainer comes up with their personal method of t

 “Setting up for Success” is a series of snack-sized summaries based around task-oriented video tutorials. Each set of videos is curated around specific accounting workflows and the fundamental concepts behind them. Each article features three to five comprehensive tutorials and highlight summaries. While we've handpicked these tutorials for first time QuickBooks Online users, this series is an excellent resource for anyone needing a refresher on QuickBooks Online and accounting basics.  We recommend watching all of the videos, as a set and in order, so you can confidently complete the specified accounting tasks in QuickBooks Online. If you do decide to skip ahead to specific sections of the article, set aside time to go back and watch the videos in their entirety so you have a firm grasp of the process end-to-end.  The Basics and Accounting ConceptsThe Fundamentals"The Big Picture"  TransactionsAdding Items (Products and Services,

We are a small condo association with 87 units and do our own property management.  We have a great Excel spreadsheet for Payables, but owner data and Receivables are all done by hand.  We want to install a simple to use database system to keep track of all owner information, including their monthly payments. If you use QB for this purpose, I would love to talk to you. Thank you.

Happy Friday and cheers to the weekend! Quick question before you sign off from work, what are your thoughts about business automation? With recent development in technology, particularly in automation, businesses have started to adopt this concept. A brief explanation of automation is the use of computer-controlled devices or software to fulfill a task. An example of this could be the self check out in a supermarket. Nonetheless, Forbes has listed the Do's and Dont's of Business Automation. A few points stood out, and I believe this information can be promising to your business.    Let's start with the Dont's.   High costsDepending on the type of automation, it may be very pricey to implement. If you're about to invest in one, ensure that you have done your research or have asked other businesses (that have use or currently use these services) their opinion. Adding automation in your business should be profitable and efficient. If it doesn't, this can affect your busine

Happy Wednesday, everyone! It's great to have you here in the Community. We all know there's nothing wrong with a little friendly competition. Today I wanted to share a few ways to keep up with what your competitors are doing: Social MediaThis might be an obvious one, but a person or company's social media platforms will tell you a lot about that. Check out your competitors social media pages to see what they're sharing, how many followers they have, and what kind of posts are the most popular. WebsiteSimilar to social media, a company's website is the next best way to find out more about them. Does the competition's website stack up; meaning is it up to date, can you contact the company through the site, can you order items/services online, or do they even have a website? ReviewsA simple Google search of the business you're competing with can produce customer reviews. Taking a closer look at the other company's reviews will tell you what they're excelling at, as well as

It's Friday again, folks! Thanks for joining me here in the Community. I read an article earlier from uschamber.com that outlined different family owned business structures. This topic was interesting as there are so many family owned businesses, around 50% of American companies alone. While this large percentage of businesses are owned and operator by families, I've never read, seen, or even really heard of the different types of structures these businesses can take on. Here's a little about what I learned... Ownership Options Owner/Operator: Ownership and control of the company is limited to one person or just a couple of people. The article compares this example to the British monarchy, where the crown is passed down to the firstborn. "There needs to be a clear succession plan in place for maintaining this ownership model." Partnership: With a partnership model, only leaders within the company can be owners and benefit financially. "This prevents family members

Good morning, Community. It's time to talk business again! Today, I thought I'd share a breakdown of a few different types of business meetings and what they consist of. Here we go...   To begin, "A business meeting is a gathering of two or more people for the purpose of making decisions or discussing company objectives and operations. Business meetings are generally conducted in person in an office, however with the rise of video conferencing technologies, participants can join a business meeting from anywhere."   Now that we have that established, here are a few different types of meetings and what kind of events to expect with each:   Status UpdateStatus update meetings are conducted to do just that. Your team may be working on a big project that's taking several months to complete. Status updates are important to let the team know where they're at on the time line, what needs to be worked on next, and encourage the progress made so far.   Decision MakingIf your

What merchandise can I use for loyalty program?

Welcome back, folks!  We have finally made it through another month, and we all deserve a round of applause. It's August Eve, guys!  Thank you for joining us here on the Discussion Page. Today, I have a relatively fun and engaging article from Business.com that will boost team-building activities. According to the writer, virtual team-building activities are "exercises focusing on employees' feelings, interests, and communication, which helps build enthusiasm and camaraderie among remote workers." This can be an invigorating practice to implement where employees can "let their hair down." Here are a few favorites they mentioned:   Virtual Coffee BreakAlthough I'm not a coffee lover (please don't judge me), this can be an ice breaker. It is a chance for employees to take a breather and interact with one another outside of the office setting. You can use this time to form a more meaningful connection with your staff and ask questions about their well-being and so

Welcome back my friends. I have selected a somewhat sensitive topic to discuss today, but I think you will find it necessary for your business. My professor once told our class, when customers are happy, they will tell one or two persons, but if a customer is dissatisfied, they will tell three times the amount. No one can convince me that this statement isn't 100% accurate because I have done it and seen others do it.  So, today we will be discussing how to respond to negative feedback. Although there a lot of ways to do this, here are my thoughts:   Don't Avoid Negative Feedback; Embrace it!Even though it can be a hard pill to swallow when a customer leaves a distasteful comment, your response shouldn't be aggressive. You do not want your company to be seen in that negative light. The internet is forever and opened to everyone. Although you can delete your feedback, it may remain in circulation due to screenshots made before the post was deleted.   Remember the three

I have a very small CPA practice.  I have been approached by a potential client to handle bookkeeping and tax return preparation.  He has been with the same people for many years  (a husband/wife team - husband is an EA and wife is a bookkeeper).    Does anyone have a proforma letter or sample they can share with me to request records and files from a predecessor?  Any help would be appreciated.  For some reason I'm struggling with crafting my request.  Thank you!

Hello, hello! It's great to see you here in the Community. You know it's my favorite day of the week and I hope you're looking forward to a restful weekend as much as I am. I read an article earlier today from uschamber.com that showcased several small business owners. Each business owner reveled their best marketing strategies. Here's what they had to say:Customer relationshipAmong the business owners in the article, one said her best marketing strategy was to maintain a strong relationship with her customers. She was able to do this, under current circumstances at a distance, by sending more personalized, heartfelt emails. She noted that her customers were showing a positive response and continued to their interaction.Social mediaAnother point mentioned in the article was the use of social media. Marketing your business on social media is a great tactic for many reasons.  By using various platforms, such as Facebook, Instagram, and Twitter, customers can see your work

Hey guys, we are halfway through the week. Almost there! Welcome back to the Discussion Page. Today, I want to address for a few minutes, ways in which business owners can handle stress. As business owners, we may become overwhelmed with constantly working like "Energizer Bunnies." However, it's important to step back, stop and smell the roses or coffee (for you coffee lovers) at times. Here are my top three ways of coping with stress:   Take a breather:Stepping away from the situation or problems for about 10 to 15 minutes can help you relax and distress. Simple things like going for a walk, watching a humorous video, or calling a friend can give you a clearer mind to undertake the task at hand. During these short breaks, you may get inspiration or ideas to analyze the situation another way.   Rank your responsibilities:Some prefer to start each task, but never fully complete all they set out to do by the end of the day. I, personally, am guilty of this, especially when

Mentorship: the guidance provided by a mentor, especially an experienced person in a company or educational institution.Good Friday afternoon, ladies and gents. I'm back to share another great article with you all today. Maybe you've reached the point in your career where you have a good amount of experience and success. With that experience and success, you have a level of knowledge that could be very useful to young entrepreneurs and business owners.Have you ever considered becoming a mentor? This article I read from US Chamber offers some great tips to become a mentor, or maybe a better one:Establish ExpectationsBefore beginning a mentorship, the first step is to explain your area of expertise and how you can best serve your potential candidate. Ask specific questions to evaluate what type of mentor they need; whether it be a coach, educator, or networker. Once these prereqs are determined, it's your turn to outline your expectations. These may include show

Hey, you!.....Yes, you! Want to know how to attract and keep customers? If you continue reading, you can find a few easy ways to do this.   Hopefully, the above statement caught YOUR attention. We should have the same energy when dealing with our customers as well. Good afternoon, and welcome back to the Business Discussion Page. Today, I will be presenting three ways to attract customer's attention.   FreebiesLet be honest, we love to receive free gifts. So, why not reward your customers sometimes with this incentive. When giving something away, we want the customer to be reminded of your business each time they use it. The idea is for customers to view this as a valued item and useful. Even though it may not cost you as much, let it align with your business's image. Here are some examples that could be helpful:   If you have a musical store, offer a free music lesson. If you own a handmade soap business, give free samples of your products. Offer add-on services for fr

My name is Mohammad Aman Ahmadi, I am from Afghanistan, In 2006-2007 I became acquainted with the QuickBooks Software when I was studying accounting in Bakhtar University. Then I have been worked in QuickBooks with several local businesses in as Finance Manager, then in 2011 I established my own accountancy firm and I got my business license which called Fanoos Accounting Services, I started training and consulting in the areas of Accounting, Finance, Taxation and QuickBooks solutions for both individuals and corporate. since that time I have using, teaching, implementing, and selling QuickBooks products such Pro, Premier, Enterprise and Accountant. Since 2017 I have provide QuickBooks Online Solutions for my clients as well. I want share my life experience here, QuickBooks software is not just a complete accounting system, but it is an ocean of knowledge and skills that help businesses succeed and manage their company's finances well. it improved my business, my customers' busine

"Friday increases happiness all around the world by 11%". Whoever came up with this statistic is a genius because I'm definitely contributing to that. Happy Friday, and welcome back to our Discussion Board. Today, I found a gem by Entrepreneur that I believe can increase your online customer service experience.    Are you familiar with the app called WhatsApp? WhatsApp is a free messaging application that lets you send messages, images, voice notes, and videos to friends and family. Personally, I have been using this app for more than eight years to communicate with my family all over the world and even some customers. A few weeks ago, I mentioned how to use Facebook Messaging features to connect, communicate the latest updates and news, and respond to customers in a timely manner. Now, we will explore four ways to use WhatsApp Business.    Get Professional:With all-new apps, you have to create a profile. Use this to add relevant company details such as yo

Hey there! It's great to have you here in the Community on the Business Discussion board. We always talk about a variety of topics in this space. Today I wanted to mention business writing. Writing for business can take on a variety of forms. This type of writing can range from newsletters and emails to proposals, presentations, training materials, and so much more. Here are a few tips to make sure your business writing is in tip-top shape: 1. Less is More We're all busy. It seems like now more than ever, people rarely have a spare moment to do much of anything. With that being said, most folks are less likely to read an extremely long write-up. Less is more, and being as concise as possible is the best bet.2. Avoid JargonWhen you're writing, write as if you're explaining the topic to your mother, or a friend, someone in no relation to the business. Break down any processes and use simple terms; words that aren't directly related to your line of work. Avoiding jargon makes your

Hi guys, i have a client that pays her personal medical expenses from her business checking account. What is the best way to record medical and dental expenses? Is this owner's draw or?

Hello again, everyone. Thanks for joining us here in the Business Discussion space. Today I'd like to share some key points from an article published by theladders.com about qualities to possess to win at running a business and ultimately life. Here's what they had to say: Never stop practicing what got you where you are Do you remember what your first sale felt like? Or maybe it was the feeling of reaching a big goal you had been working so hard towards. Don't lose that feeling! Strive to repeat the sale or accomplish that goal over and over. "Your first win was your first win for a reason."2. Avoid thinking you've got it all figured outBy now, you probably know I'm a fan of old sayings. Here's one for you, "You learn something new everyday." And that's the truth. As a business owner and just living life in general, you should never be satisfied with the knowledge you currently have. One should continually be moving forward and learning new things every day. Ther

  Hello and happy Friday, Community friends. I enjoy reading up on business articles to gain knowledge and spark my own ideas. I came across an article today published on Inc.com that offered somewhat out-of-the-box ideas to improve margins and stretch your business budget. This particular info is meant to serve as a way to help make the very most of the funds you currently have. Here are the points that were included: Raise Your Prices Now I know this may sound crazy, but according to David Finkel, Author, 'The Freedom Formula: How to Succeed in Business Without Sacrificing Your Family, Health, or Life,' "The truth of the matter is, if you have limited capacity to produce and more demand for your product or service, you need to take that into consideration and adjust accordingly." Finkel has also adopted the notion of the best customers being "those that yield the best margins, pay the fastest with the least hassle, and are most enjoyable to work with." 2. 

Hello, QuickBooks Community! I know this is a super random question, but necessary. When last have you done a SWOT analysis for your business? It is usually recommended to do this at least every six months. Plus, now that the market is opening, it won't hurt to do so. For those who may not know what a SWOT analysis is, it's a strategic technique used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of the business.  This method can be used for project planning, making business decisions, and determining your company's competitive position. Today, we will deal with internal factors such as the Strengths and Weaknesses that you can control and the external factors, Opportunities and Threats that exist outside of the business.   StrengthsThis describes your business's positive attributes that give you that edge or niche from the competitors in the market. Factors contributing to this are the experience gained and mastery of these skills, which leads to the

  Happy happy Friday! It's me, stopping by again to share a helpful article I came across. Many businesses have seen an increase of online sales recently. So in relation to that, I thought I'd relay these hacks to help you grow e-commerce sales. Here's what business.com had to say: Spread brand awareness with a giveaway It might be a little difficult for consumers to make a purchase from your business if they don't know it exists. One thing we can all agree on is that free stuff is pretty cool. A great way to spread the word about your brand is to offer a giveaway. This type of giveaway is done by choosing one of your products, a bundle, or a gift card, and then have those who'd like to participate enter the giveaway by sharing your post on social media and tagging their friends. As more people get involved, you'll start to see more engagement, traffic, subscribers, and sales. You can increase this type of engagement even more by creating rules that allow for multiple

Welcome back to the Community! One day closer to the weekend and I'm thrilled already. How about you? Anyhow, the word "Support", has been on my mind to speak about for the discussion page. Especially seeing that we are all sort of small business owners here, forming connections can be advantageous. But before I get into details, feel free to drop the name of your business, what your company does, and where you are located below. I'm going to give you my top three ideas for how we can help each other's businesses grow.   Collaborations:This can be an excellent means by which both companies can get exposure and attract new consumers. For example, let's say your customer wants a particular item or is looking for a recommendation. It could be as easy as saying, "Hey, I know this great company we have been working with, and they have exactly want you are looking for, and here is their information." You want to be honest and actually use their services at one point because yo