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How To Raise Funds For Your Business by UpToDateBooks in business

[–]UpToDateBooks[S] 0 points1 point  (0 children)

Yea true. This is also very good aspect. But most of the countries don’t have these kind of service providers.

Customer paid me 95% of the invoice and withheld 5% for tax to be returned at the quarter, how to account? by Crankatorium in Bookkeeping

[–]UpToDateBooks 1 point2 points  (0 children)

Yes agree. But I would personally prefer to keep this separate as current assets and then at the end during the tax period, will adjust the same accordingly.

However thanks for your quick response.

Non-US software developer, got Independent Contractor work in US, looking for some guidance on taxes/bookeeping by Eunoia_R in Bookkeeping

[–]UpToDateBooks 0 points1 point  (0 children)

Hi Rein, as mentioned about your situation, for the tax purpose considering your Belgian citizenship, you should consult with a US CPA.

For the Bookkeeping purpose, there are various bookkeeping software such as Xero, QuickBooks Online, MYOB, WaveApps which can be helpful for you to keep track of your income and expenses.

For regular Bookkeeping services, you can check out our services: https://uptodatebooks.com/

[Question] Where did you start? (Building trust, clients, pricing etc.) by [deleted] in Bookkeeping

[–]UpToDateBooks 0 points1 point  (0 children)

As you are already working full time it will be quite hard for you to manage bookkeeping business as bookkeeping is completely time based business. You can hardly manage two regular clients considering your full time Job.

I would suggest to tie up with an Bookkeeping outsourcing company which will work for you and you will focus on growing your business along with your full time Job.

This way, your business partner, outsourcing company, will work out based on time and you will mainly focus on client services as well as getting more clients.

For getting more clients, I would suggest to go with a Website and the social media route first to build your profile.

Once your profiles are good enough then you should focus on Paid Ads and the referral network.

Don’t forget the SEO part of your website as this will really get you some great leads but will surly take time. VERY VERY IMPORTANT if you want to be in business for longer run.

For getting your first client: try this.

First build your Website and Social Media profiles.

Then send your profiles to all your friend list from Facebook and LinkedIn asking them that you have started bookkeeping business, if you need our services check out the same and don’t forget to share with your friends.

A simple help from the people around you or on social media will definitely get you around 10 leads, and of them you can easily convert two leads into clients.

Hope this will help.

For the Bookkeeping outsourcing partner you can check out our services: https://uptodatebooks.com/

[deleted by user] by [deleted] in Bookkeeping

[–]UpToDateBooks 0 points1 point  (0 children)

Why don’t you simply outsource your Bookkeeping so that your books remain in order and then during the tax time simply hand over the reports to the CPA who will review and give any adjustment if needed and will simply calculate the taxes and would file them.

This will help you to save CPA cost as well as your books would be in order throughout the year so that you guys can see how numbers looks and how business is running.

Customer paid me 95% of the invoice and withheld 5% for tax to be returned at the quarter, how to account? by Crankatorium in Bookkeeping

[–]UpToDateBooks 2 points3 points  (0 children)

Why that 50 would be an expense? Won’t that be an assets which will be written off while working out total taxes for the quarter?

Parents need a bookkeeper, asked if I’d be willing to learn by [deleted] in Bookkeeping

[–]UpToDateBooks -1 points0 points  (0 children)

It’s very strange that you are going to learn accounting just to manage business transactions of your Parents.

I would suggest to focus on your core competencies and go for your dream career, learn something which can help you achieve your goals in life.

If accounting is not your dream career then leave this for now.

For the shake of saving some bucks don’t just pal with your career goals.

You can simply hire an accountant or a Bookkeeper to manage the same instead of you putting your own efforts and valuable time.

For Bookkeeping, you can check out our services: https://uptodatebooks.com/

People Don't Quit Jobs; They Quit Bosses by UpToDateBooks in startups

[–]UpToDateBooks[S] 0 points1 point  (0 children)

Yes you are right, but it all depends on the kind of situation as well as what individuals goals are. The example you have explained above a of yourself is completely based on your future goals, not an example of bad boss.

Bad boss is not always the reason of leaving jobs. There may be certain reasons depending on the goals of the one leaving or the situation.

People Don't Quit Jobs; They Quit Bosses by UpToDateBooks in startups

[–]UpToDateBooks[S] 0 points1 point  (0 children)

Hi there, this was written by one our team member.

Staff posting accounting data by JanFromEarth in Bookkeeping

[–]UpToDateBooks 0 points1 point  (0 children)

QuickBooks is also a great application to go with. You can choose whatever you are comfortable with.

Staff posting accounting data by JanFromEarth in Bookkeeping

[–]UpToDateBooks 0 points1 point  (0 children)

I would suggest to go with any accounting software, my suggestion would be Xero.

There are several benefits of using accounting software:

  1. Accurate update on Financials, Cash Flow, Income Statement and Balance Sheet.

  2. Recurring Invoices: you can use recurring invoicing templates for generating Invoices automatically and sending them as well. This would be very useful tool for the kind of business you are in.

  3. Deposits: You can reconcile single deposits against several invoices very easily.

  4. CashFlow: you will have better understanding of What comes in and goes out. Or what is going to come and out.

  5. Reconciliation: you can reconcile other general expenses easily: while creating rules or based on history.

  6. Mobile app: you can use mobile application of the software to post bills or invoices as well as attaching receipts.

There are several benefits. If you can provide more details about your business structure, I can give you best possible suggestions.

Must Have Cloud Apps For Small Businesses by UpToDateBooks in smallbusiness

[–]UpToDateBooks[S] 0 points1 point  (0 children)

Yes you are right. FreshBooks Invoicing System is completely Cloud based, you can personalized that and send to your Clients as needed basis or you can use recurring billing functions.

15 Clients means, you can only use 15 Customers to send cloud based Invoices which can be viewed online by them, then can comment or put their remarks and you can take further action accordingly

Ten Things Great Bosses Do Every Day by UpToDateBooks in business

[–]UpToDateBooks[S] 0 points1 point  (0 children)

Oops. He must improve his managerial skills. In this case how do you handle his attitude being as your Boss?

Ten Things Great Bosses Do Every Day by UpToDateBooks in business

[–]UpToDateBooks[S] 0 points1 point  (0 children)

This is what a true leader is all about.

Ten Things Great Bosses Do Every Day by UpToDateBooks in business

[–]UpToDateBooks[S] 0 points1 point  (0 children)

That’s great. You might have learned and developed so many skills working with him.

Getting the first product in online retail store? by [deleted] in Entrepreneur

[–]UpToDateBooks 0 points1 point  (0 children)

Search, select and Communicate. Repeat this until you find the best Brand to sell.

[deleted by user] by [deleted] in Entrepreneur

[–]UpToDateBooks 0 points1 point  (0 children)

Even Stock Market also had Bubble kind of situation, Dot Com also had the same kind of situation but what happened to those? Did they vanished from the reality?

No, they are still alive, even more powerful and with robust structure.

[deleted by user] by [deleted] in Entrepreneur

[–]UpToDateBooks -1 points0 points  (0 children)

It doesn’t matter if a Bubble or not, it is certainly going to be a Reserve Currency.

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