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Archive for December, 2006

Expecting A Refund?

Posted by admin on December 29th, 2006

Copyright 2006 Bookkeeping R Us All Rights Reserved

If a tax refund is in your future, then don’t procrastinate getting your return done and filed. Call your tax preparer today and make an appointment. Make sure you have all your records organized and all W-2’s, (payroll) 1099’s (non-employee or rental or other types of non-payroll income) and any other statement that has been sent to you that pertains to filing your return. The government has had your money in their hands all year and is not paying you interest, so get it back as quickly as you can.

And while you are thinking about it, review your W2 for next year. While it’s fun getting back a large refund, it is costing you money. If you use the government as a forced savings plan, there is a better way to do it. Set up a savings account with direct deposit and sign up to have either a fixed sum or a percentage of your paycheck to go to that account. At least you will be getting interest on what you are putting away.

Ring In The New Year

Posted by admin on December 28th, 2006

Copyright 2006 Bookkeeping R Us All Rights Reserved

The New Year is almost here and most of us are thinking about how we might be healthier, happier, wealthier and more productive. Here are my suggested resolutions to help bookkeepers, business owners and just about everyone else accomplish these goals.

For Bookkeepers:

Re-educate yourself – there is always something new to learn. See if your company offers education reimbursements and apply for them. You might want to consider non-bookkeeping type classes as well, such as classes in communications, organization, managerial skills and computer training.

Organize yourself- the best way to be more productive. Start with your workspace and then move on to your work day. Ask your boss to fund the purchase of a Day-Timer or other similar organization tool and use it every day.

Get Certified – a sure career booster. By earning a certified bookkeeper designation you will bring added value to your resume.

Think about specialization – as in most professions, specializing in one or two industries will increase your value in the workplace as you will be familiar with the specific requirements for that industry.

These recommendations not only work for bookkeepers but for all dedicated employees of any type.

For Business Owners:

Learn to read and understand your financial statements and take a hands on approach in how your business is spending its money – understanding your financial picture will help you make your business successful.

Communicate with your employees – communication goes two ways, learn to listen. I would say that the most common complaints employees have is the small amount of time supervisors spend listening to their suggestions and concerns and the lack of feedback they receive about their job performance. Don’t wait until the yearly review, make and keep regular meetings all through the year.

Be more organized – by setting an example of organization in your work day and office space you will encourage your employees to do the same. Purchase a Day-Timer for everyone in the office. It will pay off big time.

Determine to be the best at what you do, keep all your promises to your customers, employees and vendors, always apologize for errors made (we all make them after all). Again set the example for your employees and be known for being the best in your industry.

For Everyone:

Thinking about diets, loosing weight and all those usual resolutions we tend to make every January 1st? Well how about one resolution to being healthy? Loosing weight might just be one great side effect.

Think about the foods you eat, when and why you eat and how much you eat. Taking itsy, bitsy steps can bring big results over time. Can’t give up that chocolate bar? If you are addicted to one a day, then cut back to a half a bar a day. You will not only save calories, but money as well. Put that extra money in a piggy bank and buy that something you been just dying for. Fast food addict? Treat yourself once a week instead of making a trip to your favorite burger or sub place every day. Pick up a yummy apple or orange instead of that bowl of ice cream while you are watching television at night. Save the ice cream for a once a week treat and limit your portion to a coffee cup size (not a giant mug by the way). And speaking of television, I read recently that the average American watches over 30 hours of television each week with an average of 8 minutes of commercials for each ½ hour of programming. Keep your hand weights by the television and exercise during the commercials. You’ll being doing approximately 4 hours of exercise a week!!!!

Find ways to reduce your stress – meditation practices, yoga, deep breathing, exercising – whatever works for you. Stress is one of the greatest health problems in this country.

Learn how to have fun. Laugh more, play more, enjoy life more. When was the last time you giggled? Or just roared laughing? When did you last do something just because it was fun and made you happy? Spend more time with your family and friends. If you don’t clean the house everyday, make the bed, wash the car, and mow the lawn, etc, will the world end? And stop shopping for all that stuff you don’t need and probably don’t really want anyways. Believe me you won’t miss out and the country won’t come to an economic stand still if you play a game of tag with your kids instead of going to the mall. Rejoice in the everyday wonders of life and love.

Simplify, simplify, simplify!!!! Discover what is really important to your health and happiness and push those goals to the front of your life.

Happy New Year to you all and may 2007 bring you the best of health and true happiness!!!!

Accounts Payable

Posted by admin on December 27th, 2006

Copyright 2006 Bookkeeping R Us All Rights Reserved

An account of money owed to your vendors. The Accounts Payable account is shown on the Balance Sheet under the sub category Current Liabilities. A sub-ledger summary showing the money owed by each customer is called the Accounts Receivable Aging. Accounting programs also provide a detail listing of the aging which shows every transaction (invoice, payment, debit issued) by vendor.

Copyright 2006 Bookkeeping R Us All Rights Reserved

Many of your Excel drop down menu commands are just a right mouse click away. Click in a spreadsheet cell, and then right click. You will see a list of common commands at your fingertips. Commands such as Cut, Copy, Paste, Paste Special, Insert, Delete, Clear Contents, Insert Comments, Format Cells and more. Your choices may change or expand depending upon the contents of your cell. And some commands listed may open windows with options to choose from. Happy Right Clicking.

Christmas comes but once a year

Posted by admin on December 25th, 2006

Christmas comes but once a year but when it comes it brings good cheer.

Anonymous
Proverb.

Getting Ready For Your Tax Return

Posted by admin on December 22nd, 2006

Copyright 2006 Bookkeeping R Us All Rights Reserved

If you have followed my advice, then you should have very little work left to do. Just finish recording the last of the year’s transactions and you are ready to go. But don’t forget that now is the time to think about whether purchasing an item or paying a bill before the year end will save tax money. Medical bills, real estate taxes, and mortgages payments that include interest are all examples of bills that if due right after the first of the year might have a tax saving advantage if you pay them now. Also if you are planning on purchasing insulation, new windows, doors or energy saving appliances then purchasing in 2006 could get you up to a $500 credit against your 2006 federal taxes.
Making an appointment with your tax preparer now if you haven’t already, could save you quite a bit.

Merry Christmas To All

Posted by admin on December 21st, 2006

Copyright 2006 Bookkeeping R Us All Rights Reserved

Wishing you all a very Merry Christmas and a New Year filled with good health, happiness and fulfilled dreams!!!