How QuickBooks Made Fast and Simple Can Help
Late filing your taxes? Concerned about IRS notices and fees?
Behind in QuickBooks with your company books? Not sure how to catch up?
Catch up quickly
Save money. Avoid high-priced accounting fees!
Save your money
Having trouble using QuickBooks on the Accrual Basis?
Here’s another way)
How to make extra money on the side using QuickBooks.
Increase your income
Tired of QuickBooks manuals that just leave you confused?
Try this one
Late filing your taxes? Want to avoid those IRS notices and fees?
Don’t wait for those IRS Notices to arrive. If you have reportable income, the IRS will send out late notices shortly after you have missed the filing date. Penalties and interest get added to what you already owe, and the effect is worse than a loan-shark.
The IRS charges two different penalties for filing your taxes late, plus interest. These penalties and interest range around 12%, but the cumulative effect is what kills you. There is a penalty for late filing, a penalty for late payment and interest is charged on top of the penalties.
A typical small business that owes, say $8,000 in federal taxes will have that amount double in just around a year. The penalties and interest are computed on the taxes owed, so less taxes equals less penalties and interest. In our example above, this would cost approximately $700 per month. If you don’t respond to the IRS notices, they start sending out registered letters notifying you of their intent to levy your bank accounts. Some state taxing authorities are even faster than the IRS, and they may send out their notices as well.
Or, you could just buy our book for $39.99 and invest a day’s time to learn. More experienced QuickBooks users will take less time to learn our Cash Basis approach.
Behind in QuickBooks with your bookkeeping? Not sure how to catch up?
You’re not alone. With over 93 million small businesses in the U.S. you’re not the only one in this position. Many smaller businesses have cut back on staff and/or bookkeeping resources because of the economy.
If you have been doing your QuickBooks books by the accrual method (meaning you are recording accounts receivable and accounts payable), this is not the best way to catch up once you have fallen behind. The best way to catch up once you have fallen behind is the Cash Basis method of accounting (as illustrated in our QuickBooks Made Fast and Simple book).
The Cash Basis is the easiest and quickest method to catch up. Moreover, it’s what your accountant or tax preparer would do if you bring in all your information and ask him/her to do this QuickBooks bookkeeping work for you.
A lot of money and time can be saved utilizing the Cash Basis approach. Many smaller businesses use it exclusively even when they aren’t behind. Our QuickBooks Made Fast and Simple eBook will teach you how.
Save your money. Avoid those high-priced accounting fees.
When you take several months (or years) worth of QuickBooks bookkeeping to your accountant or tax preparer to finish for you, it’s going to cost you dearly.
But it doesn’t have to be that way. You can do it yourself and save the money! Here’s the secret behind it all.
It all starts with that that box of information you bring to organize and record. You can learn the same method your accountant uses and save the money you would have been charged.
Most accountants will want to be paid up front for doing several months or an entire year of QuickBooks bookkeeping. For example, our office charges a minimum of $160 per month to do monthly bookkeeping—perhaps more, depending on the situation.
This multiplied by 12 months of the year, meaning we charge at least $1,920 to do one entire year for a small business. This includes balancing the bank accounts each month and entering all cash disbursements and all income from sales as well as credit card charges, ATM transactions, etc.
When people bring in a box of bookkeeping papers and you have to find all the bookkeeping information to record it takes quite a bit longer. Most accountants want to be paid in advance for this QuickBooks bookkeeping work or get retainers that have to be replenished when used up, before doing the QuickBooks bookkeeping work. The comparison is to pay a couple of thousand and more versus buying our QuickBooks Made Fast and Simple eBook and investing a day’s time or less to do it yourself.
Having trouble utilizing QuickBooks on the Accrual Basis?
Most small business owners and employees have never studied formal accounting. They operate their businesses on a Cash Basis, and nearly all file their taxes using this method. No wonder they have difficulty keeping books on the Accrual Basis—it does nothing but confuse them and make the QuickBooks bookkeeping process a lot harder!
And yet, Intuit sells their QuickBooks program as an Accrual Basis program and highly recommends to everyone to use the Accrual Basis. They don’t even describe how to use QuickBooks on the Cash Basis—despite the fact that around 30% of the nation’s businesses (our estimate) probably use the Cash Basis all the time!
If someone doesn’t keep up with their QuickBooks bookkeeping for whatever reason, it takes too long to record all the payables and receivables in QuickBooks on the Accrual Basis month by month. More importantly, the need to know what you owed to any specific vendor in a past month is no longer needed. Chances are you have already paid most of the old bills and you have probably already collected most of the money from any customer who owed you in, say, June of 2010.
Most companies that file their taxes on the Accrual Basis keep inventories, such as manufacturers, grocery stores and large construction firms. Even most of these companies, however, file their income taxes on the Cash Basis—not the Accrual Basis. Generally it is to the advantage of most businesses to file their taxes on the Cash Basis. In this way they don’t get taxed on the receivables they have not collected.
Our QuickBooks Made Fast and Simple book is the only known QuickBooks book ever written on how to utilize QuickBooks and the cash method of accounting. We also encourage the Accrual Basis method, but not when you have fallen behind. Cash Basis bookkeeping may be right for you. Learn more about our QuickBooks Made Fast and Simple eBook on this site.
Make extra money on the side using QuickBooks!
Interested in some extra income? Some people turn what they learn in our QuickBooks Made Fast and Simple eBook into cash!
After learning the QuickBooks bookkeeping methods described in our book, you’ll be able to help your friends and neighbors get caught up with their company books in QuickBooks.
Everyone knows someone whose QuickBooks bookkeeping has fallen behind during this recession, and most people do not know how to get caught up.
With your new QuickBooks bookkeeping skills, you’ll be able to create a regular stream of bookkeeping income for yourself once you learn the method QuickBooks bookkeepers and accountants use in their office to help clients get caught up. Be a hero to your friends! Save them money and charge less than they would normally have to pay for someone to help them!
Tired of QuickBooks manuals that leave you scratching your head?
Here’s an odd fact about QuickBooks manuals. Most were written by consultants and CPAs who really don’t understand what they are describing!
Want proof? Look at the authors of most QuickBooks publications, and you’ll see they require consultants or other QuickBooks ProAdvisors who have to help them understand how to use QuickBooks.
Our book is written totally by a Certified QuickBooks ProAdvisor who has been utilizing this very same bookkeeping routine for the past 30 years in QuickBooks and other accounting software programs. We’ve gone to great lengths to make sure there are no missing steps and that it all makes sense.
This is the first QuickBooks book of its kind written by a ProAdvisor for other bookkeepers, including people who have little or no prior experience with QuickBooks. Mike’s explanations of bookkeeping and the accounting equation are even used by some of the QuickBooks help line employees because they don’t understand accounting. They know the QuickBooks program, but not really how accounting works.