Best of Bellevue Financial Services Award

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One client asked me, "How much time do you spend studying every year?"

I felt as if he really saw me because the answer is A LOT.

I'm always studying. Right this minute, I'm studying Intuit's Point of Sale system, the new QuickBooks Online, Excel, How to write a Will so that your business doesn't die with you, a Dale Carnegie audiobook, and I just read #GirlBoss, by Sophia Amoruso, the women who created a $100,000,000 business.

It's wonderful when all the work and fun I've had studying pays off in that I'm recognized as a valuable asset in our community.

Millionaire Mindset Seminar

The Millionaire Mind Intensive (MMI) is the self-help, get-rich system I support the most. The founder is T. Harv Elk. After reading his best-seller, Secrets of the Millionaire Mind, I thought he was "for real", because he lists what you must be willing to do to be rich, I'm not rich, and I could always find one thing I had not been willing to do. I thought T Harv Elk was "for real" when I inadvertently discovered that was anonymously donating to a spiritual teacher I follow. Charitable giving is absolutely part of the millionaire mindset. You can read his book from any library and attend their introductory seminar for free. At the free seminar, there will be a DJ, plus lots of handouts and prizes. Most of the seminar was content. They pay for it because they upsell you to more seminars, the real ones that will really help you get rich. And it was a super fun weekend bounding with a group of 160 like-minded local souls.   

Everyone should attend this seminar. Taking three days off from work is a huge deal, but it's worth it. Money is very important.

Click Here to Learn More About Millionaire Mindset

When you sign up for the seminar, I get a referral fee if you use my referral number, which is MMI31851. I would be so grateful to you if you do. And I will pay it forward. I'm learning from the best!

Angie's List

Angie's List is now for all businesses, not just contractors. My goal is to attract 200 new clients this year, or settle into a temp CFO position. In order to do that I need to get the word out that I'm here to help. Reviews help a great deal. Since reviews are scattered between Intuit's website, my website, Linked in, and other internet providers, there can never be enough great reviews.

Here is the link for my listing at Angie's List:

Read Unbiased Consumer Reviews Online at

A big heartfelt thank you to every client who has given me a great review. I remember you fondly and hope your business is more profitable every year!

New Year; New Database?

It's time to think about if you're going to want a new database for Jan? Also, it's time for you to get setup if you're moving to QuickBooks for the first time for 2014.
There are many advantages to a new database for the new year, including:
  • Faster data retrieval. A huge database can become unbearably slow. One client has a database hit the wall in August. Trust me, you don't want to start a new database midyear if you run payroll or pay taxes by the calendar year.
  • The ability to start fresh. A new database gives you the opportunity to clean up your chart of accounts, customer, vendor, and other lists, and especially payroll problems. Only lists transfer; no transactions. Modify that last sentence. I can transfer transactions with special software that I've used for clients before, but you'll have to keep your lists the same in order to move the data. Once data is moved, you can delete any list item that's not included in one of the transactions. 
  • The security of having only a single year in a single database; electronic information can become corrupted over time. I've rarely seen a QB database that lasted longer than 7 years electronically.
  • The convenience of giving your tax preparer last year's database while continuing to run your day-to-day business without interruption.
  • Last year, the IRS purchased QuickBooks. If you get audited, having a single year in a single database enables you to provide the IRS with just the information they demand, and nothing more. If you've just been audited I can get you a single year in a single database but it won't be pretty. The only way to get pretty is to create a new database for the new year. 
While there are many advantages to creating a new database for the new year, there are a few disadvantages.
  • You'll need to hire help to setup a new database.
  • If you're using Enterprise edition will you be able to print out reports cross databases for comparison. Otherwise, you'll have to do that with print-outs, Excel, and Intuit Statement Writer.
Ultimately, the decision to create a new database for the new year depends on what's best for your business?  If you're must moving lists, I can get you ready for the new database in less than 4 hours, which leaves time to discuss any other QuickBooks questions or business concerns.

QuickBooks Online Looks Different

Intuit is totally changing the "look & feel" of QuickBooks Online.

They will be rolling out the changes in the next six months. You should get an email warning you, but even how far in advance that email will arrive before your database is changed/updated is not yet determined.

Don't let the new screens throw you. All the functionality you are familiar with is there. You just just have to hunt around for the menu options you want.

And there will be new functionality. I can show you some new features in our next consulting session. The advantage I asked for would be to specific when clients get updated, so it's timed before our next visit. The advantage I received is that I can request that my clients get updated sooner than "regular" users, but I don't see any advantage to this. The updated design (interface is the techie word for this) is not superior to the existing layout, just different, and confusing at first. 

An Easy Way to Tithe (Donate 10% to charity)

Fall is a great time to donate stuff to thrift stores. Charities have their highest demand for stuff before Christmas. When people get desperate they turn to crime, but first they turn to charity. So why not provide charity? Donating stuff is an easy way to tithe. 

My favorite thrift store is at the ritzy Bellevue Mall. Weblink to LifeSpring Thrift Store at the Bellevue Mall  It's an interesting concept. Take a shopping bag to the mall and drop it off. Come home with a new shopping bag.

This is the best organization with the most qualified volunteers, so more money is going to recipients. Bellevue LifeSpring has other charitable events and programs if you are interested?

They will give you a tax deduction receipt. (If you're serious about taking a non-cash tax deduction, take photo's of the stuff first.) I personally never take a deduction for the stuff I donate, but I do save the receipts in case I'm audited for all the cash I donate and claim. 

It's Feng Shui to eliminate 10% of your stuff. Your home or office will look better with less clutter. When you get rid of clutter, you accent the nice stuff (and find it!). Try having spaciousness and see how many compliments you get? I've never done a big clean out without finding something precious, so even your time won't be wasted. Plus, now you've created space for new stuff, right? 

Why is Thanksgiving Important in Accounting?

Seems like an unlikely connection, but you really want to get your accounting all caught up by Thanksgiving, and review your P&L Report and Balance Sheet for a clear analysis. That's because Thanksgiving leaves you only one month to make any end of tax plans. Here are your questions to answer as an analysis:

  • Do you have profit, and need to buy some fixed assets? Now is the time to research, shop, and buy before year end. 
  • Do need to reign in spending for the last month? You don't want to show an overly large loss in any one year. So make a list of what you'll need in Jan. Those expenses will count against 2014 profit, which will hopefully be much better. 
  • Do you need to do a big account's receivable collection effort, before year end?
  • You know that your subcontractors will be getting 1099's in Jan. Do you need to collect Social Security #'s, and addresses now? 
There's enough to do at year end without worrying about catching up on routine bookkeeping. If you stay current, you'll start paying bills on time, pocketing the late fees for your own take home pay. Sound good? Now is a good time to count your blessings!