Small Business Financials

Individuals * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser Steve discusses how to improve the speed of the close by compressing the billing process. * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser What an investment banker does, what he costs, and how to spot a good one * This article was originally published here Check out https://www.johannakimball.com

General practice Tags Client satisfaction Clients Payroll * This article was originally published here Check out https://www.johannakimball.com

Clients * This article was originally published here Check out https://www.johannakimball.com

One of the first clients I ever visited when I started training as an accountant was a bookseller. I remember being unable to understand how the clerk had computed his percentages when sales were falling. These included such impossible results as minus 134% and minus 179%. I explained how to compute the percentage movement in sales from one period to another. The look of joy on the clerk's face was a delight as he came to appreciate a key fact:  Whilst upward trends had no limit (eg: increases of four time the previous week's sales would show as  plus 400% ), downward trends could never be worse than  minus 100%  (if no sales were made).  He was thrilled. I went back a few weeks later to check all was well. Unfortunately a stack of books (previously counted as 'sold') had been returned. This created 'minus sales'!!  I have no memory of how I suggested he record the percentage movement in such cases! * This article was originally published here Check out https:

 How to wind up an accountant? Just say something like this: "I just popped everything in this carrier bag here - I knew you could sort it all out for me." "My friend's accountant says....." "I need a mortgage reference - you will make the figures look good for me won't you?" "A friend in the pub said that he's certain that...." "My van was broken into and........  ... all of my receipts were stolen" "How can I have made such much profit when I've no money left in the bank" "My son has been onto the HMRC web site and......." " I've already signed my tax return. Just fill in the details as usual" "I've put the cost of the new extension through, as I do make coffee in the new kitchen while I am working from home" "I've checked my tax return and it's wrong...the profit figure on the accounts isn't the same as the taxable profits figure on the tax return"

Audio is not supported in your browser Issues to be aware of when using net present value analysis * This article was originally published here Check out https://www.johannakimball.com

IRS * This article was originally published here Check out https://www.johannakimball.com

  Yes, my fees could be lower if you pay me in cash  Yes, I'll find a way to justify all those supermarket receipts in your accounts Sure you can pay me less because you ignored my advice on how to make more profits  HMRC have no problem with retrospective tax planning Your tax return only took me 5 minutes to do  I love working from carrier bags full of clients' paperwork I have decided not to charge you anything this year The taxman will give up once he knows I'm representing you Don't worry about getting receipts  Yes, we can rewrite the past and pretend you did things that you didn't really do  Any more for any more? What else would you never say? * This article was originally published here Check out https://www.johannakimball.com

Tax * This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com

Practice strategy Tags Accounts Accounts production Income tax * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser Making decisions when the business model changes * This article was originally published here Check out https://www.johannakimball.com

 Accountant  Nigel Hughes  has crafted this topical variation on the Paul Simon classic. It's a fun ditty in itself and even cleverer if you can recall the original tune as you read it! Your problem is all inside your head she said to me The answer is easy if you do it digitally I'd like to help you in your struggle to be free There must be 50 ways to please the taxman She said I hate to see you blundering in this fog Tax really doesn’t need to be such a slog I’d like to end your love affair with analogue There must be fifty ways to please the taxman Fifty ways to please the taxman Just get on the web Fred Click on your mouse Klaus Get up in the cloud Howard Just zap it to me This is the key, Lee You don't need double entry Do it on line Brian And set yourself free It's a new day Ray Just think what you'll save Dave Take a quick pic Rick And listen to me You'll never believe Steve What you can do if you trust me Just take a quick snap Jack And set yourself free

12 things HMRC will never say: “After reviewing your contract, I consider you’re self employed.”  “Considering the length of time it has taken me to reply to your letter it is only fair that I give you 18 months to reply to mine. "I like you. On this occasion I’m going to let you off and chalk it up to experience". “Given the complexities of the legislation that is a mistake anyone could have made so I won’t be looking to charge a penalty.” “Following the recent Tribunal decision confirming that we have been incorrectly applying tax legislation to your circumstances, we can now concede that we are wrong and have accordingly charged ourselves a penalty for our carelessness in failing to take advice from an appropriately qualified tax professional.” “That might be what the legislation says but it seems incredibly unfair so we’ll take a pragmatic view” "You're right, we don't have unlimited powers to ask for anything we feel like" "It looks like we were wr

Audio is not supported in your browser Steve describes how throughput accounting concepts alter the capital budgeting process. * This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com

Join our co-founder, Bill Gerber, at the 2021 GovCon Accounting Summit from July 20, 2021, to July 22, 2021! The GovCon Accounting Summit is the premier educational experience for government contract accounting professionals. * This article was originally published here Check out https://www.johannakimball.com

Individuals * This article was originally published here Check out https://www.johannakimball.com

Working from home has many perks, but a few challenges are attached to it as well. Staying productive is the most important thing a remote employee can sometimes struggle with. As a fully remote company, all of our employees work from the comfort of their own homes, so we’ve laid out a few pointers to help battle the productivity struggle and knock out that task list of work on a daily basis. * This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com

As an entrepreneur thinking of launching a small to mid-sized business, you may be wondering how much capital is needed to put up the business. The amount of capital you need depends on many factors. The type of business, whether you plan to outsource processes or keep everything in-house and whether your products and/or services will be offered online , from a brick-and-mortar base, or a combination of both are just three things that impact how much money you need. * This article was originally published here Check out https://www.johannakimball.com

    Select Panel Advises on Products and Services that Accountants   and Their Clients Want Most Naples, Florida – July 22, 2021 – Today, Intuit, Inc (Nasdaq: INTU) announced that Sarah T. Ciuk, CPP has been named to the company’s U.S. Accountant Council advisory board. Intuit’s mission is to power prosperity around the world, and it accomplishes this through its innovative ecosystem of financial management solutions that serve more than 100 million accounting professionals, small businesses and consumers worldwide.   * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser Tips for creating a better book * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser Patrick Quinlan, CEO of Rivet Software, discusses XBRL tagging * This article was originally published here Check out https://www.johannakimball.com

Company culture is something that is claimed by many, but at the end of the day, how many companies actually have a solid and healthy company culture? The culture of a company is what separates a good and great company. Truly happy employees are what keep a company going and it certainly shows in some situations. * This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com

* This article was originally published here Check out https://www.johannakimball.com