QuickBooks Tips – Payroll Item Setup

By |2022-08-18T08:47:28-04:00June 30th, 2010|QuickBooks Tips|

Setting up QuickBooks payroll items appropriately is essential to accurate tracking and reporting of your payroll transactions.  When you choose to use the QuickBooks payroll function, one default account is setup to track all payroll liabilities and one default account is setup to track all payroll expenses.  Since this can cause confusion to both you and your [...]

Deducting Business Bad Debts

By |2022-08-18T08:47:28-04:00June 23rd, 2010|Taxation|

If debt collection is a problem for your business, deducting uncollectible (bad) debts from your tax bill may somewhat lessen the sting of simply writing them off. Here is some basic information on deducting business bad debts. First, the debt must be legitimate. A bona fide debt arises from a debtor-creditor relationship and is based [...]

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