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Archive for April, 2009
Does your company have a business savings account? Do you have all of your money into one business checking account? If you have all of your money into one acct. That is ok, but not recommended. Accountants will recommend to have an operations account, savings account, and maybe a few others. OF course it does depend on what kind and how big your business is though.
Having a business checks is always good to use. But what if you run short on money in that account. Why not have a reserve. NSF are getting more and more expensive, and business cant afford to have that kind of expense. Personal accounts dont do as much transactions as a business checking does. Save money and have a savings account linked to your business account.
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Dont forget to backup your accounting software
posted by Mr. Peachtree user @ 10:24 PM
Friday, April 17, 2009
Its always a good idea to back up your accounting software. For more security, add a complex but easy password for you to use. Every time you open the program, it must ask you for a password. It can be set up for single user, to a multi-user. If you back up every night, and something happens, you can do a restore.
When you do a restore, it will ask you for the password. Just another great way to protect your accounting software. You never know when something could happen to your accounting program, or the comptuer crashes. Have your information to be stored to a DVD, CD, or off site storage. Its cheap to buy for a small amount of data.
When it comes to checks, having the standard version with boring waves and lines can be a real drag. Your checks should reflect your personal character, and there are thousands of unique check designs to browse. You might be tempted to choose checks that feature animals or the outdoors if those themes are a passion, or even checks that feature popular characters like Superman or Batman. You can find a great selection of cheap checks featuring fun themes online. The internet is a great place to look for cheap checks because there is an excellent variety and a lot of unique checks you won’t find available in a catalog or from the bank. You can also find checks for all intents and purposes online, including business, accounting, and personal use.
When ordering checks, be sure to check that they’re suitable for your purposes, and that they have features that will keep your bank account secure. It’s important for all checks to have a watermark and other features that prevent theft.
Is it time to start your new year for your business? Some companies re-structure their company by starting it on April 16th. WHY? April 15th, or Dec 31 st can be an easy time for the business to end their physical year. So….why not start it at when taxes are due.
You’ll have all of your records for expenses, supplies and anything else you need to write off. Every compay is different when it starts a new physical year. It varries and theirs so many different ideas out there you could use. Most business use Dec 31 st so they can have 4 extra mths to prepare for April 15th. If your not sure when your end year, look at your accounting software. Accounting software can give you a friendly reminder for periods or when something is due.
You can save money for your busines by doing your own checks. If you have a design/style you want to do. Then why not purchase your own bulk blank checks and print the checks your self. It will work if you have the MICR ink for your printer.
If your going to buy your bulk blank checks, you got to be in compliance with the bank. Its a must to have the MICR ink. WHY? If your bank has to manually process each check you write, you could be charged a small fee. Do it right and you can save money in the long run. Look up MICR ink for HP xxxx or what ever your printer model/make is.
Theirs a large variety of business checks out on the market. Quicbooks has the easiest type of checks to use. You can order them with or with out the lines. With your logo or not. Check on top is the most common quickbooks business check style. You can use 3 to a page as well.
Check on top has some advantgaes though. You can have the check and a stub for your records, and for your employee/vendor, vs 3 to a page. Quick books makes it easy to select which type you want to use. Just go to the File, print, checks, and setup.
We have been talking alot about business checks and accounting software. But you cant foget to use deposit slips or deposit tickets along with your business checking account. Its good to use the auto deposit having an e-commerce account, but what if you need to make a bank deposit. Its a good idea to have deposit slips/tickets on hand just in case you need them.
So many different ways of making a deposit. Its available for
-Peachtree
-Quickbooks
-Deposit booklets (loose, bound or wrapped)
Having a business is very important to keep good credit. Even with your bank. Did you know that if you dont keep up with how many times you bounced a business check for the company, that the bank will. They keep a record on it for at least a year. If you bounce too many checks, it can be reported to Chex systems and they’ll mark it.
Having bounced checks can cost from $30-35 (depending on your bank). Some banks are acutally increasing the fees. Have a savings acct as a backup, credit card, or better yet, just keep good records and have extra money. If you bounce to many checks with your vendor, you can loose their business that will hurt yours in the long run.
Maintaining Inventory is always important with a business. If your using alot of inventory, why not keep more on hand and have lower prices. The margin you’ll make will be a lot more vs making the prices higher. PLUS you’ll keep the customers coming
For the items that your not selling alot of, stop selling them and put them up for clearance. You’ll stop having low margin products, get them off your shelves and make more room for others. Even business checks and accounting software encounters the same thing.
Some companies end and begin their new physical year at any time. It could happen in the middle of the month, or beginning of a new month. Some companies actually close that checking account out, and open a new one. WHY? Easier for audits, and reconciliation for the previous mth or year.
Yea you’ll have order new business checks, but at least you’ll be able to keep the company organized and reduce any accounting errors. So many ways to be organized and sometimes hard to remember all of them. The employees wont even relaize the change at all. It wont affect their deposits or the comapnies bills.
Do you need to know how to do something in peachtree? Peachtree is more advanced to use than Quickbooks, but more accurate. Peachtree has their support in Lawrenceville, GA. Their representative are very nice and always willing to help.
Their address is
Peachtrree
1715 North Brown Road
Lawrenceville, GA 30043
General Information Phone: 1-866-835-9323
Sales Phone: 1-800-871-1735
Technical Support: 1-800-840-7601
Quickbooks support is hard to understand. They outsource their help to overseas. Hard to understand them and not able to really get the support you need. Peachtree support is not outsourced and they really beleive in customer service. They support all versions of Peachtree sofware and Peachtree Quantum.
Writing a business check is always a smart idea for money management. WHY? If you have large bills to pay, its always easier to track with a check, and can be used as a legal document that you paid it. Cant track down cash, harder with a money order. If you have an account for your morgtage, its the smart business way
Even though that electronic payments are easy to do, but sometimes easy isnt always the best. If you want to run a business efficeiently, always have a paper trail on everything you do. If you loose that paper, OOPS…you could loose that money.
Don’t forget as tax time is approaching, to get your business checks envelopes. They are available in alot of styles and types. You can even have the single window envelope that is pre-printed for your business. Having your printing done, can save you alot of time that is money in the long run. Make your business more professional looking, instead of using labels, that can rub off, not straight and etc.. Envelopes can say alot about your business. If your a single business owner and having them professionally done, can make your business look larger than it really is.