Where accounting makes "cents"

  Applying for a tax id number is important because it provides the business owner the opportunity to separate personal and business expenses and use the opportunities afforded to business owners.. Here are some advantages of using a tax id number: 1.       1.  Personally separate yourself from the operations of the company 2.       2.  Not providing your social security number to vendors you are doing business with 3.       3.  Opening a business bank account requires a tax id number 4.       4.  Need to obtain a credit card for business operations, you will need a tax id number 5.       5.  Bringing on employees? Payroll tax payments require a tax id number 6.       6.  Business licenses to operate in your state or local county need tax id info 7.       7.  Tax returns for the business require a tax id number Although applyi...

  I just finished a large scale, week long QuickBooks Online Job Cost clean up project and made this video because I realized 2 things after this engagement. 1. Intuit has a fantastic software called QuickBooks and it allows business owners the opportunity to track their company's financial data but what people forget is that Intuit is a software company. 2. It is a necessary capital investment for business owners to BUDGET and add to the yearly BUDGET the expense of working with a qualified 3rd party accountant to review the QuickBooks accounting records for accuracy. When a firm calls QuickBooks for help, they will receive technical support on using the software. Intuit is not an accounting firm and can not provide accounting support and guidance. Somehow I feel like this is lost when purchasing the product. Working with a qualified accountant solves the deficiency between the business operations and the software. Another comment I have been receiving when consulting on new engag...