What’s Your DSO?

If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net

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Tax Planning, 12 Months a Year

Tax Planning, 12 Months a Year We’re halfway through 2016. What do you know about this year’s income tax obligation?   Your 2016 income taxes are probably not at the top of your mind in the middle of summer. After all, it seems like you just filed

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Charging for Time in QuickBooks Online, Part 2

  Charging for Time in QuickBooks Online, Part    Last month, we talked about time-tracking setup, single-activity data entry, and user permissions. This month, we’re exploring additional time-and-billing steps.   By now, you’ve set up QuickBooks Online for time tracking and entered your first timed activity. If

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Do the New Overtime Rules Affect You?

Effective December 1, 2016, federal overtime regulations will change and may affect how you are paying your employees.  These overtime updates will affect 4.2 million workers across the country. The new rules will raise the salary overtime-eligibility threshold from $455/week to $913 ($47,476 per year).  This new threshold

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All About the Earned Income Tax Credit

All About the Earned Income Tax Credit Individuals who are working and who have low-to-moderate taxable income may qualify for this income tax credit. When you think about ways to offset your income as you’re preparing for income tax time, do you primarily consider the deductions you

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Using Sales Receipts: When? How?

Using Sales Receipts: When? How? Some types of businesses always use sales receipts. Some use them occasionally. Here’s what you need to know about them. How do you let your customers know how much they owe you, and for what products or services? In these days of

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