Mar 09

In This Economy… Filing Your Taxes Can Be A Stimulus Plan !

Finance No Comments »

Let’s face it… Having your taxes prepared properly was always important. No matter if you are single, married, have children, don’t have children, work for a large company or are self employed, getting your taxes done right can make a big difference. Having your taxes done the right way ensures, not only that you get the right deductions and receive the maximum amount of refund owed to you, but it also makes sure that if you owe taxes, you won’t end up overpaying. So no matter which way you look at it, proper preparation of your taxes actually, especially in this economic climate, will save you money!

This leads us to the very important question…. “How do you make sure that you get your taxes done properly?” Well here are some things you should consider. First of all, no matter what your filing status is, unless you are a tax professional yourself, it is always best to find a tax professional that you trust to prepare your returns. Some people work off the idea that preparing and filing their own taxes is easy and it saves them money. In a very few cases, this might be true but for the vast majority of people, preparing and filing your own taxes may actually be more costly.

Almost every year, some portion of the tax code changes. If you are not a tax professional you, more than likely, will not be aware of the current years’ changes and not knowing the rules will not be an acceptable excuse should you be audited and mistakes are found. If you happen to overpay your taxes, that probably won’t be a big deal, but do you want to chance that? You want to be sure that you get back every dollar that you are entitled to. In the worst case scenario, should you underpay your taxes; that could lead to expensive penalties, court costs, attorney fees and even jail time. Why run the risk. Tax professionals are kept up to date with all the changes of the tax code and the nuances of the ever changing rules, so they are the best option when it comes to preparing your taxes properly.

If you own a business, the preparation of your taxes gets much more complex. Now you have to file your personal taxes (which will include salaries, bonuses and any other dividends that you have paid yourself from the company), but you also have your corporate tax returns to complete and file. Every item that you own, be it stocks, bonds, annuities, property (ie furniture, office equipment, vehicles, etc) or real estate (residential or commercial, personal or investment), will all have to be taken into consideration as well. A tax professional will be able to help you understand exactly what is and what is not deductible, how much you can deduct for each type of deduction and how best to structure your finances so that you only pay what is rightfully and legally due and no more. They can also advise you as to where your monies should be stored (and how much) for maximum tax benefits and protection.

Especially if you are starting a business, a good tax professional should be one of the first things that you acquire. They can be very beneficial in assisting you with the financial foundation of your business including payroll services, accounting, bookkeeping, sales tax, business planning and more. Doing this will almost certainly guarantee that your business has a solid foundation to build on and start you out on the right path for success.

When looking for a tax professional, find out what states they are licensed for. Choosing someone that is not licensed in your state could prove costly. Secondly, make sure that the person is actually a true CPA. A Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA.

Author: Robert Lathan
Source: articlerich.com

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Mar 08

Career Change – Beware – Non Average Job Salaries!

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According to the Society of Human Resource Managers, US, 53% of all job applicants lie to some extent on their resume. What if you have been ‘economical with the truth’ on your ‘home-made’ resume/cv and, as a result – have been offered an outrageous salary? It happens!
I guess the natural reaction would be to say that being ‘Overpaid’ is on balance a superior position but in fact, I believe in practice it is almost without exception a damaging situation for all concerned.
Imagine you were given a hundred thousand spondulicks rise in pay because the recruiters believed (perhaps from your FAKE resume) that you were fully capable of handling a national emergency. (see Malcolm Brown’s outing)
At first it would be such a thrill wouldn’t it? Especially when you got your first salary cheque and found that you were paying more TAX than you’d ever earned salary in a month. (You could pay off the credit cards with relish. ‘Take that!: Amex. Eat me!: Virgin: The end is nigh!: Barclays) Then what? You could plan a holiday – if you would dare leave things unattended. If they’d let you take a holiday!
You would know however that at any minute of the day or night, someone might SEE ‘The Emperor’s new clothes’ and raise the alarm. Could you live with that?
Your employer is watching every move you make in anticipation of your ‘Doing something’, to justify the outrageous fee thay have paid you. They are becoming so IMPATIENT and critical that you wonder if they would have anytime for Superman, nevermind your increasingly limited ability to ‘make things happen’.
Colleagues are jealous of your limelight and are slipping ‘innocent’ sounding comments about you into everyday chats with the boss, like ‘banana skins’ on steps. They’re NOT out to get you. They are just being helpful.
The morale is: Avoid the trap – find out what you are worth BEFORE you negotiate your salary and if for whatever reason they offer a salary crazily in excess of your wildest dreams, ask if you can ‘Sleep on it.’ This will ‘fix’ the sum in people’s minds.
Then, overnight, you can decide whether they were genuinely enthusiastic about your potential or compensating you in advance. If the former, you can come up with a performance-related bonus system that will bring you within range of earning this above average salary, whilst taking ‘home’ a salary that is TRULY commensurate with your talents.
Sensibly offer this arrangement at your next meeting and you might hear a sigh of relief AND renewed and validated respect for your judgement.
Copyright 2006 Margaret Stead
Margaret Stead is a Career Consultant, Business Psychologist and self-styled ‘Dream Architect’ on a mission to create a million brilliant careers. She has increased career currency, capability and job satisfaction for many successful career change individuals, regularly coaching, executive business leaders in using new media to accelerate their success. http://www.careersnet.com e: margaret@careersnet.com

Author: Margaret Stead
Source: articleage.com

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Mar 08

Bank Secrecy in the U.S.A. Provides Money Privacy Crisis Solutions

Finance No Comments »

Once aloft a time in America, bartering banks offered superb annual and coffer managers answered their phones and serviced their best customers’ accounts personally.

Today, bartering banks accept articulation mail for barter who alarm to altercate aperture an account, about accept a altered part-time teller anniversary time one makes their way to the bullet-proof bowl bottle teller window, and clerks appeal assorted pieces of identification to accessible an annual to abundance your money. Many abeyant barter will not canyon the ChexSystems database analysis or added credit-type screening test, and will not be acceptable to abundance their funds with a bartering bank. Banks about appeal a acclaim bureau address above-mentioned to aperture a blockage annual in one’s name or aperture a assurance blockage account.

Do you wish to be a chump of a aggregation authoritative such demands on your time and privacy? Or do you wish coffer clandestineness in the U.S.A. through the use of new cyberbanking assets accessible to acquiesce you to accumulate your money secrets and cyberbanking privacy?

Check cashing services-sometimes accepted as analysis cashing food are the bogus cyberbanking operations that accept alike during the endure decade or two for the purpose of cashing checks and accouterment loans to barter who cannot accessible a coffer annual or accept not to do business with banks. Until recently, these operations were advised the “weak sister” of the cyberbanking industry-places area alone “undesirables” went to banknote their checks due to their disability to prove citizenship or their annual as a cyberbanking customer.

Times accept changed. Added boilerplate barter are using analysis cashing food than anytime afore due to the added aggressive ante offered to banknote checks and the accessibility of accepting an annual that provides them with the adeptness to present their check, pay their 1.9% fees (average amount analysis fees), and airing out with the cash. There are no authority times, about no hassles, and absolutely no accident of accepting a coffer annual “frozen,” seized, or contrarily fabricated aloof to the cyberbanking customer-and these “inconveniences” appear added about than you would expect. Such seizures and confiscations do not action if you airing up to the bowl glass, bulletproof window at the analysis cashing store, accord the agent your “account card” to swipe, get your cash, bare the 1.9% fees, of course, and airing out with your money.

Because your checks are deposited in the analysis cashing store’s aggregation account, there is no annual captivated in your name, and there is no money of castigation to seize-just in case anyone or a assertive bureau believes they accept a appropriate to it. Analysis cashing food annihilate a acceptable accord of “banking” accident for assertive customers.

Once you accept your banknote in hand, area do you abundance it? There are cyberbanking aloofness assets that accommodate options for aegis and coffer secrecy. You can achieve your cyberbanking clandestineness if you advance some of the non-traditional claimed accounts assets that are accessible to you. And you may accept to accomplish a continued ambit cruise every so about to abundance your banknote in absolute secrecy.

You could accept to accessible a safe drop box at a coffer in the name of a Trust, a Limited Liability Aggregation or a Limited Partnership. These entities can accommodate one with high-level aloofness for autumn backing or banknote equivalents. Or you could buy a money safe and install it secretly on your property. If you accept this option, you should accumulate it a secret. A final best is to accessible a safe drop box anonymously with a clandestine aggregation that guarantees your privacy. 24-7 Clandestine Vaults, Las Vegas, Nevada provides bearding safe drop boxes to aloofness advocates while acute no identification, no Social Aegis amount or added claimed and arcane data.

In summary, if you are annoyed of the aloofness invasions imposed aloft you as a cyberbanking customer, you may accept to actualize your own “demand account” through the use of analysis cashing food for converting your amount or aggregation checks into cash. Once you accept the cash, surplus funds or backing that are readily convertible into banknote can be stored in a safe drop box of your best as declared in this article. You can advance your cyberbanking aloofness and accumulate your money beneath your ascendancy through the use of analysis cashing food and safe drop boxes or safes and abate yourself of your annex on bartering banks. You can exercise your aloofness rights while befitting your money your business.

Author: Grant Hall
Source: ezinearticles.com

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Mar 04

Expatriate Cost of Living in India for February 2009

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When an expatriate moves from one geographic location to another, the change in cost of living they experience is relative to the change in the purchasing power of their salary. The basic principle is that a move to a higher cost of living city should be accompanied by a proportionately higher salary in order to maintain the same amount of purchasing power and vice versa. If an expatriate is fortunate enough to move to a lower cost of living city without a decrease in their salary, their purchasing power increases proportionately to the decrease in the cost of living.

India still offers opportunity for expatriates moving to India to experience an increase in their purchasing power. The major cities of India offer a relatively low cost of living for expatriates. Bangalore has an overall cost of living index (comprised of the prices for defined quantities of the same goods and services) of 64.6 (New York=100) and is the 38th cheapest place in the world for expatriates to live, out of our 276 international locations. In comparison Hyderabad has an index of 68.8 and is ranked 55th, Calcutta has an index of 69.3, and is ranked 56th, Chennai has an index of 70.7 and is ranked 65th,New Delhi has an index of 71.4 and is ranked 70th, while Mumbai has an index of 76 and ranked the 105th cheapest place in the world for expatriates to live.

Cost of living is however only half the story. In determining how much to pay an expatriate the relative hardship they are likely to experience must also be taken into consideration. An expatriate moving to a country with little hardship is unlikely to need much incentive. However in order to encourage an expatriate to move to a relatively high hardship country, compared to what they are used to, requires an incentive in the form of compensation for the hardship they are likely to experience. Hardship is one of the main differentiators between expatriate salary levels and local salary market levels. As a rule of thumb an expatriate will always cost an employer more than a local hire.

In terms of the relative hardship expatriates are likely to experience moving to India, assessed in global terms, India is currently ranked as an extreme hardship location, which typically commands a 40% salary premium for hardship. Hardship is relative however; in the same way that cost of living is relative. An expatriate moving from a country similar to India would experience less hardship than someone moving from a country that is completely different.

The global factors which are used to determine a relative hardship ranking world-wide include differences in:

Economic conditions such as poverty and service provision.
Political conditions such as tolerance of diverse views, life style and conformity to cultural norms.
Religious conditions such as religious prevalence, and tolerance of other religions.
Public Service conditions such as provision, administration and accessibility to water, electricity, sanitation, work permits etc.
Climatic conditions such as extremely hot or cold weather.
Safety conditions such as personal security and the threat of public violence.
Health conditions such as health standards and risk of viral outbreaks.
Education conditions such as state education standards, expenses, mother-tongue teaching, and school proximity to home.
Transportation conditions such as public transport availability, safety and efficiency.

Expatriate Salary Calculation

So what do cost of living and hardship differences mean in practical terms? Let’s consider an expatriate moving from New York to Bangalore. In terms of hardship they would qualify for a 30% hardship allowance (40% for Bangalore less 10% for New York). The overall cost of living in Bangalore is 35.4% cheaper than New York given the Bangalore cost of living index of 64.6 versus New York’s 100. A salary of $100,000 in New York adjusted for the negative difference in cost of living and the positive hardship premium would equate to 4,086,450 (INR).

Salary in New York X Cost of living difference X Hardship Premium X Exchange Rate = Salary in India

$100,000 X 0.646 X 1.30 X 48.6598 = 4,086,450 (INR)

If however the salary was not adjusted downwards for the lower cost of living (a common practice amongst multinational organisations), and the hardship allowance was added, the Bangalore salary would equate to 6,325,774 (INR) which would mean the expatriate would be gaining from a 35.4% cheaper cost of living and a 30% hardship allowance, and as a result could afford a far higher standard of living in India. As recently as early last year, this sort of package would have been realistic. However in today’s depressed global economy it is less likely.

In assessing how much to pay an Expatriate in India, it is important to take into account the relative difference in the cost of living as well as the relative hardship.

Author: Steven Coleman
Source: ezinearticles.com

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Mar 03

HR Payroll Software

Computers and Technology No Comments »

A major roll of the human resource department is to manage payroll. Relying on your employees to do this by hand costs your company money and resources and is not efficient. Instead of hiring an extra employee to take care of payroll, consider purchasing HR payroll software.
Payroll subjects can be complicated and the more employees you have, the more confusing it gets. HR payroll software is designed to eliminate the confusion by helping you keep track of employees electronically. Each employee may require different payroll options. Some get paid more than others. Some waived insurance. Others contribute to the 401K, but some don’t. HR payroll software offers a way for human resources to keep track of everything and insures that everyone gets paid the correct amount.
To find HR payroll software that fits your needs, you need to first consider how large your company is. Certain HR payroll software packages are better equipped to handle the demands of larger companies. Other HR payroll software packages are designed to benefit small to mid-sized companies. Also consider what benefits you offer your employees to make sure the software can accommodate them.
You will also want to make sure that the HR payroll software that you need is compatible with your computer operating system. If your computers are too old, you may not find a program that will accommodate it. At this point, you may want to update your computers before you purchase your HR payroll software. Budget is another concern, but the right software package will meet your needs without draining your budget.
If you would like your human resources department to be more efficient, consider purchasing HR payroll software to help make their jobs easier. It will help them keep track of employee pay, benefits, and investment options. When your company is large enough, it can be time consuming to do everything by hand. HR payroll software is a great solution to this problem.
HR Software provides detailed information on HR Software, HR Payroll Software, HR Software Solutions, HR Software Suppliers and more. HR Software is affiliated with ERP Software Companies.
Article Source: http://EzineArticles.com/?expert=Steve_Valentino

Author: Steve Valentino
Source: articleage.com

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Mar 02

The Interesting Fact of Working in the Design Industry

Business No Comments »

Having a bachelor’s degree and at least a job related experience is enough for you to experience the multi-faceted opportunities waiting in the one of America’s most stable and fastest growing industries. Among the five industries included in the design industries, graphic design is said to have one of the greatest increase in jobs by 2014, this is based from the information given by the United States Department of Labor.

What are the most common and the most practical reason being considered by job seekers? Accept it or not the salary comes first in the list. Considering the fact that the world is suffering from the effects of the global economic crisis, more and more professionals are looking for a job that will be giving them higher compensation. The Industry of Graphic Design as expected by the government will open more and more opportunities. With a very wide scope of options offered by the industry, every design professional has the power to choose on what particular industry he wishes.

Graphic Design Artist in newspaper or magazine, one particular sub-industry commonly requires a bachelor’s degree and a minimum of four years related work experience. How much compensation do these professionals get? The median salaries for these design professionals depend on what particular city they are working. In Los Angeles the median salary is $49, 200, in San Francisco $ 51,400, Chicago gives $ 47,000, Detroit $ 48,200, while Austin gives $ 42, 500.

If you plan to establish a career as an Advertising Graphic Design Manager it will only require you with a bachelor’s degree and four to six years of work related job experience. The median salary offered in Los Angeles for this kind of job is $ 57, 700, San Francisco offers $ 60,300, Chicago gives $ 55,100, Detroit offers $ 56, 500, and Austin gives $ 50,000.

If you have the passion in designing spaces, the interior Design Industry is the most appropriate field to deal with. If you have undergone formal training and, a bachelor’s degree in Interior Design, an authentic license, and relevant work experience then you are qualified to enter the field. An interior designer in Los Angeles has a median salary of $ 46, 300; San Francisco offers $ 48, 400, the median salary for interior designers in Chicago is $ 44, 300, Detroit gives $ 45, 400, and Austin offers $ 40,100.

The bottom line this information is – a lot of opportunities are waiting for you in the Design Industry and you can, by earning your related degree greatly increases the number of job opportunities that you can be involved with.

Author: Carolyn C Miller
Source: ezinearticles.com

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Mar 01

Starting Salary And Income Ranges For Pharmaceutical Drug Sales Representatives

Business No Comments »

When I was a biologic biologic sales representative, I bethink that one of the doctors I alleged on had asked me how abundant money biologic assembly make. If I told him the altered bacon ranges, he was actual surprised, abnormally with what the top performers can accomplish in this field.

The actuality is that all-embracing incomes of biologic biologic sales assembly can appear from a few altered sources including abject salary, sales bonuses and added benefits.

Base Bacon

The capital basic of assets for a biologic adumbrative of advance is the abject salary. The starting bacon for contempo university or academy graduates with no above-mentioned acquaintance in sales could be in the mid $30,000s to $40,000s range. Those with a few years of accompanying plan acquaintance could accommodate to the college end of this range.

Base salaries about access absolutely able-bodied with years of annual to a biologic company. After several years, the abject bacon of a biologic sales adumbrative could be in the $50,000s to $70,000s range. Promotions to specialist hospital biologic sales positions will generally aftereffect in an even college range.

Sales Bonuses for Good Performance

Most biologic sales armament accolade their biologic reps with banking sales bonuses if assertive quotas are accomplished or exceeded. Depending on how abundant sales quotas or budgets are exceeded, the benefit basic of a biologic rep’s all-embracing balance can be actual significant. This is how the big money in biologic sales is made.

High performers can acquire bonuses that advance their all-embracing balance to six figures. On top of that, the top biologic sales assembly can win appropriate vacation trips as allotment of achievement incentives.

Company Car and Added Allowances

The use of the aggregation car and added allowances such as accomplished bloom allowances will bulk to the agnate of several thousand dollars so these should aswell be taken into account. The amount of a contempo archetypal car and all the costs associated with it such as ammunition additional aliment do add up. All of these auto costs are covered by the company. This is a actual nice advantage if because that in a lot of added jobs, car costs appear out from one’s own pocket.

So if evaluating job offers from biologic companies, new sales reps who accept never been in the industry should not anguish too abundant about starting salaries. Assets will go up decidedly if achievement is there. It is abundant added important to get the sales acquaintance aboriginal and again in the future, there is consistently the advantage to move to added biologic companies if the all-embracing earning potentials are greater elsewhere.

Author: Clint Leung
Source: articledashboard.com

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Mar 01

The Sample Cover Letter And Salary Requirement Request

Business No Comments »

Free templated sample cover letters can have a bankrupting effect on your job search. Using a sample that you find on the Internet or in a book is never a wise investment if you are serious about your intentions. The serious job-seeker knows the importance of an outstanding cover letter. If you compile an original cover letter filled with valuable, interesting information about you, your job search will not end up in the red.

Often times, a company wants to know what you think of your own monetary value. Posted job openings sometimes request that the applicant include a salary request with the cover letter. It is important to note that if the advertisement for the job does not specifically ask for this information, it is best to leave it out and address it once you secure the interview. If a job description does require desired salary information it has to be broached with caution and a few other considerations.

Requests for a salary history or requirement can be a little intimidating. Do not forego the request for the sake of your own comfort. If you neglect to include the information that a company asks for, you may be perceived as apathetic. It could also cause the hiring manager to question your ability to follow directions. Choose not to take the easy way out and go ahead and buckle down and do what it takes to calculate realistic figures.

There are a couple of formulas you can apply to determine how to approach your salary requirements. No matter which option you choose, be sure to indicate some degree of flexibility in regards to financial compensation. One route you can take is to tell the hiring manager that your salary requirements are negotiable based on the position and the benefit package you will receive. Another direction gives the potential salary range that you are willing to accept. But bear in mind that if an applicant chooses this option it should still be indicated that numbers are negotiable. This tip might keep you in the running for just a little longer than the next applicant.

When you bring up the issue of salary be as brief as possible. A simple statement of your desired income is more than enough to fulfill the potential employer’s request. Your intent is to meet the requested criteria, not to launch into a diatribe as to why you feel that your request is appropriate. If you have doubts as to “how much”, do your research. Consult credible sources and develop a general idea of what the job is worth. Keep in mind that with the cost of living factors into the equation. Where you live directly influences how much your salary will be. Do not overlook the significance of asking for a reasonable, regionally-suitable amount and do not forget to make it flexible.

Finally, use the other content of the cover letter to stand out among all of the other applicants. The salary aspect is only a very small portion of the letter itself. The majority of what you have to say is about what you can do for the hiring company. Sell yourself as a must -have employee that they can not afford to let slip through their hands. Do something unique and memorable like craft a bold headline that lets the reader know where you are coming from immediately. Mind your p’s and q’s and your cover letter should tip the balance over to your side of the scales.

All cover letters serve the same purpose. Cover letters sell the applicant to the hiring manager. They provide an attractive appealing “cover” of you as a person, also. The cover letter works hard to keep the reader’s time invested in learning more about the applicant. The more time a hiring manger invests in reviewing your qualifications and experience, the more likely it is that you will receive an expedient response. Sample cover letters and salary requirement letters are contrived and overused. Chances are a hiring manager has already seen the same ones over and over again. Take these steps to ensure that your cover letter and salary requirement are up to par and you should hear from the hiring manager in no time.

Author:
Source: articledashboard.com

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Feb 23

How to Use QuickBooks For Job Costing – Setting Up Preferences and Items

Computers and Technology No Comments »

Accurate job costing is one of the most critical tasks for managing job-based business like construction companies, professional services firms, and even nonprofits that are awarded grants. Many owners put it off because it seems too complicated or time-consuming. But if you’re serious about helping your business grow and prosper, it’ll help you:

- Analyze how each of your jobs us doing financially

- Identify problem jobs as early as possible

- Identify jobs that weren’t as profitable as expected

- Create better estimates for future jobs

Luckily, QuickBooks is an inexpensive program that can do powerful job costing with the data you’re already entering – as long as you set it up and use it correctly.

The first step to setting up QuickBooks for job costing is to set your preferences (Edit > Preferences > Company Preferences)

1. Go to Jobs & Estimates and check the box next to “Do you create estimates”. You might also want to check the box next to “Do you do progress invoicing”.

2. If you use QuickBooks for payroll, and every business doing job costing should, go to Payroll & Employees and check the box next to “Job costing, class and item tracking for paycheck expenses”

3. If you use QuickBooks for payroll, go to Time & Expenses and check the box next to “Do you track time”. If you do time & material billing, you should also check “Create invoices from a list of time and expenses”.

The second step is to setup your customer:jobs and use them on every transaction.

1. Go to the Customer Center and click on the New Customer & Job button.

2. If you are using Contractors edition, you might also want to create a customer called Overhead or Administrative for non-job expenses, so you can use the “Expenses Not Assigned to Jobs” report (only found in the contractors edition) to make sure you didn’t accidentally leave off a customer:job. If you are using classes, you might want to consider doing the same thing so you can use the Profit & Loss Unclassified report to make sure you didn’t accidentally leave off a class.

The third step is to setup items and use them on every transaction.

1. Go to Lists > Item List, click on the List button, and select New.

2. Add a new service item for every job phase you want to job cost. For subcontractors, this could be as simple as Labor and Materials. For general contractors, it could be quite lenghty: plans, site work, excavation, concrete, masonry, framing, etc. In this case, you might want to add sub-items for Labor and Materials to your items if you want to track those costs separately. This also makes it easier to report only the Labor portion of a subcontractor’s invoice on their 1099.

3. If you are a contractor with short-term jobs make sure to set up all your Service Items as two-sided, with both an expense and an income account. This doesn’t occur automatically and unfortunately it isn’t very intuitive. You need to put a check next to “This service is used in assemblies or is performed by a subcontractor or partner” for the expense box to be added to the setup screen. Contractors often use a cost of goods sold account called something like “job related costs” for job-related expenses.

4. Builders and many professional service firms have projects that span several months or more generally use a work in progress (WIP) or construction in progress (CIP) asset account because job related costs aren’t usually expensed until the project is completed. In this case, they should map the expense account to their WIP or CIP asset account.

5. Depending on your circumstances, there are also several Other Charge items you should set up. These don’t need to be two-sided:

- If you use WIP or CIP accounts, you should setup two items: (1) Transfer out of WIP – with WIP as the account and note in the description that the amount should be positive, and (2) Transfer into COS – with COS as the account and note in the description that the amount should be negative

- If you accept customer deposits or retainers, you should setup an item mapped to a current liability account. For better tracking, you should consider setting up a separate current liability account just for deposits.

- If you have customer retention or retainage, you should setup an item mapped to an accounts receivable account and a negative for the Amount (for instance, -10% if your retainage is 10%). For better tracking, you should consider setting up a separate accounts receivable account just for retainage.

This is the first of a four-part series about how to use QuickBooks for job costing. Intuit, the creators of QuickBooks, has also asked me to host a free Small Business Town Hall series covering the same topics. This is your chance to get your job costing questions answered live. You can get more information here: http://crystal.semphonic.com/quickbookscommunitycalendar/helios/events/index.php?com=detail&eID=4451

Author: Ruth Perryman
Source: ezinearticles.com

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Feb 22

Modern Payroll Practices in Boise, Idaho

Computers and Technology No Comments »

In today’s business scene, several payroll service providers offer business operators the benefits of a fully streamlined payroll processing system. Companies choose to outsource payroll services through contractual providers instead of setting up their own payroll department, mainly due to the convenience of it all. This is because most, if not all of these outsourced payroll contractors take advantage of the benefits of using the Internet in processing payroll information. Because of the prevalence of outsourcing payroll functions to third-party contractors, a number of business owners in the United States have jumped on the outsourcing bandwagon and opted to hire contractors for their payroll needs. The city of Boise, Idaho for example, where the city government is one of the city’s largest employers, many outsourced payroll service providers have set up shop to provide local businesses with payroll services such as web-based automation and tax calculations.Boise, Idaho, a city that is home to an estimated population of slightly above two hundred thousand residents, was voted third among the best places for business and careers in 2007 by Forbes Magazine. The city has also since put a premium on technology, being headquarters to almost 20 different call centers employing approximately 7000 workers. It is not surprising that outsourced payroll service providers in Boise, Idaho have used the Internet as a major tool in providing their services to the local industries.Web-based applications working alongside highly efficient payroll service software ensures that business owners are able to manage payroll and tax information efficiently without acquiring high overhead costs. Local businesses are able to save time and money on outsourced payroll service providers instead of dedicated accounting firms, because payroll processing does not have to be a full-time job.Payroll service software also allows business operators to access payroll and tax data from any computer that has access to the World Wide Web. This arrangement greatly reduces cost because business owners do not need to set up office structures to house their own payroll and accounting department.Because of the many modernized payroll services Boise has, this city can be considered as one of the budding leaders in the field of outsourced payroll servicing. Many businesses have gained success because of the benefits gained from this strategic business decision.

Author: Harry Slay
Source: articlesbase.com

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