Perhaps you haven't received your canceled checks back from your bank in years, or perhaps your bank has even stopped providing you with printed images of those checks with your bank statement, like mine has - and I must confess I can't even remember when they stopped doing that with our business account - but I do know that it's been several years.
So what happens when during an IRS Audit you are asked to produce cancelled checks to substantiate the payment of an expense? Continue reading
Entering payroll for normal employee work hours and drive time and passing only the work hours through to client invoices is not only important but confusing. The following question was submitted by a reader who pays from the start of the first job till the end of the last job of the day (not including lunch break). I have my employees fill out a time tracker sheet each day that shows the time started at the first job till the end, drive time in between jobs, so on and so forth. I enter this into QuickBooks but I can't figure out where to enter in drive time to pay the girls their hourly wage on payroll but to not invoice anyone for drive time. Continue reading
An important QuickBooks Payroll System Maintenance Announcement - a system-wide upgrade will start at 6 p.m. on Thursday 5/24/2012 and continue through 5 a.m. on Tuesday 5/29/2012 - Direct Deposit will also be effected and don't forget that this is also the Memorial Day holiday weekend!
QuickBooks Payroll will not process direct deposit checks dated for Monday, May 28, 2012 due to the Memorial Day holiday. In order for your employees to receive their paychecks before Monday, May 28, you should change your paycheck date to Friday, May 25 and send your payroll by 5pm PT on Wednesday, May 23.
Your business spends money on a wide variety of things - employee payroll, payroll taxes, office supplies (such as paper and envelopes), utility bills, things that you purchase to resell to others, and goods or services from others are just a few examples. In essence every penny that your business spends is an expense to your business - but how you record the purchase in QuickBooks does make a difference.
When entering bills, checks, or even credit card purchases in QuickBooks you have the choice to use an Items or Expenses tab - choosing the Items vs. Expenses tab will depend on what the money being spent was for. Continue reading
Certified payroll reporting requirements are complex. There is no single certified payroll form that will meet the requirements in all 50 states. Don't be fooled! Continue reading
A contractor will receive a joint check from a General Contractor to pay their subcontractors or material suppliers. Learn how to receive & apply joint checks. Continue reading
This situation can create quite a quandary for some business owners and their payroll clerks about how to replace this lost check. The immediate need is to reissue the paycheck. Continue reading
You should be very careful when choosing to void a paycheck because payroll checks have associated tax and other liability calculations and payments that need to be taken into consideration and it will result in changing payroll year-to-date amounts. Continue reading
There are three ways in which to record an employee advance or loan in QuickBooks; with his regular paycheck, writing him a check, or giving him cash. Continue reading
Verifying and troubleshooting the accuracy of your final certified payroll reports before you submit them is an important step in your overall success in using Certified Payroll Solution and getting paid on time. Continue reading
While it is fair to say, most people don't steal, embezzlement does happen; so it only makes good business sense for you to consider what you can do to minimize your employees' opportunities to steal. Continue reading
Unclaimed paychecks are a hassle, they mess up your bank reconciliations; and seriously, what are you supposed to do with them other than throw them in a drawer? Continue reading
First introduced in QuickBooks 2011, however, also available in QuickBooks 2012, 2013, and 2014
The Average Days to Pay report lists paid invoices and statement charges; grouped by customer and job, and the number of days that it took the customer to pay. I can see that the Average Days to Pay Report would be a useful tool in helping all businesses, not just contractors, determine their projected cash flow. Continue reading
We've been testing, debugging, and documenting numerous certified payroll and AIA billing updates for the last few weeks - I've posted some of the information behind the changes here in our blog. Continue reading
QuickBooks automatically prefills the date field in every transaction you create (Enter Bill, Write Checks, Create Estimate, etc.) and report that you generate. In many cases, the date that QuickBooks provides you with is not the correct date that you need. Continue reading