Accounting Information & Bookkeeping Advice

Amazing Tool Extracts Bookkeeping Data from PDF Files!

I have been searching for years for this tool. Recently I came across the website for A-PDF to EXCEL, and read that it claimed to be able to extract data from PDF files into Excel. I couldn’t believe my eyes. Then I noticed that they offer a free trial of the full version of the program. So I…

Standard Mileage Rate For 2014 is…

The IRS has announced slightly increased 2014 standard mileage rates, following the past few years trend. The IRS official press release and link to the IRS website follows: WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable,…

The Ultimate Filing System or Paperless Office

  What are you supposed to keep (or throw away) on a day to day basis, and what should you do with all the papers that accumulate in your files or pile-up in other places throughout the year? There is a simple way to organize it all so you have what you need when you…

How Long to Keep Tax/Financial Records?

The definitive guide to retaining records, straight from the IRS How long should I keep my records? The length of time you should keep a document depends on the action, expense, or event the document records. Generally, you must keep your records that support an item of income or deductions on a tax return until…

Effective Inventory
Management

Implementing an information management system is a lot like painting a house. When you paint a house, the success of the job is dependent on the preparation of the surface before the paint is applied. Even if you use the most expensive paint available, if the surface has not been scraped and sanded, the paint will just peel off.

Likewise, the most expensive system will not deliver the results expected by a distributor unless it is operating in a business environment that ensures inventory accuracy.

Retail Bookkeeping: End of Day Reporting

No matter what cash register, software, or point of sale system you may be using for the store, you should be pulling daily reports from it that can be used to reconcile your daily sales and enter other critical financial information into your Quickbooks company file.
This not is the only way to get accurate financial statements that will present a complete picture of your retail operation’s profitability and value, but it’s the most cost effective and common way for small businesses to manage their day to day bookkeeping.

IRS announces 2010 Mileage rates

2010 IRS Mileage Rate drops 9% from 2009 Level The 2010 IRS mileage rate for business mileage is 50 cents; find more, including rates for medical/moving and charitable miles at: http://www.irs.gov/newsroom/article/0,,id=216048,00.html The IRS Mileage Rate for 2009 was 55 cents, a full 5 cents higher. According to the IRS, the reduced 2010 rate reflects generally…