Update your Salestax Rates

Effective TODAY. This is not an April Fools Joke.

Many cities in King County, WA now have 10% and higher sales tax rates. It's now 10% in Issaquah, 10.3% in Bothell, 10.1% in Seattle.

Here is the link to the new rate sheet for you to print out and update your QuickBooks.

New Salestax Rates

Salestax rates are found on the item list for Desktop, in the Salestax area for QuickBooks Online.
Do not just update your QuickBooks salestax rates in-line.
Add new rates codes, and leave the old ones as is for reporting and auditing purposes.
If we're doing it, we'll rename the old ones first, so the new names will be the same names you're familiar with.
I or one of my bookkeepers can come out and fix this for your business, plus anything else you want help with.

Looking forward to making sure you make more profit!

Does an education prepare you for small business accounting?

This blog post is thanks to Shelly, one of the bookkeepers at QC Computing, and the person in the black sweater. 

Numbers and organization comes naturally to some people. I'm one of those lucky individuals. I’ve always enjoyed working with numbers. To that end, I'm the one who manages the books and paperwork for the business my husband and I own.

After handling the organization for our business, I decided to go back to college and get my degree in accounting.  As I advanced towards my degree I decided that I would like to use my knowledge to help other small business owners. I believe small businesses are the back bone of America.

Once I started working with Madeline, I was astonished to discover that she had this entire level of expertise that a college and an accounting degree had not afforded me. Although nothing will replace the value of my education, it's exciting to discover that there is so much more to learn.

I learned how to apply real world situations to a Profit & Loss Report, the true meaning of Equity in understanding a Balance Sheet, and how to simplify business financials.  I now look at the glitches of my own business differently. I'm able to find simpler solutions to the bookkeeping and paperwork for my business. That, in turn, has improved the profitability, which is awesome. 

Perhaps you're a well educated business owner? Maybe you even have an MBA or a PhD in Business? Now that you have a start up business, don't be shy about calling Madeline and I to help you. You may find that we can show you simpler solutions to your accounting needs than you knew about already. That in turn, may also improve your profitability too. 

Free Book Giveaway for Charity Organizations

If you're a church, non-profit organization, or school, who is doing charitable work helping small business owners financially, we'll support your efforts by sending you a free print or eBook of "Radically Simple Accounting" for your library,

Send us an email with enough information to verify that you are who you say you are and that you're doing what you say you're doing. We don't need a long story. We're just looking for legit organizations doing legit work helping businesses, non-profits, and individuals become more financially successful.

We're blessed to give back what has been so richly given.

Fraud - Check Your Bank Statement Monthly

When I reconciled my bank statement from last month (June, 2016), I noticed a fraudulent withdrawal of over $300. My very next client had the exact same fraud. Can you believe it?

The next month there was another one for over $300 done a different way. The two were connected but not.

Honestly, I wouldn't have noticed with a cursory glance over my bank statement. They all looked routine.

Do your reconciliations on time, or have us do them for you.

My Business Model: Consultant Setup -> Bookkeeper Maintain

By popular demand, my business model has evolved to where I go to the client's first to get it setup, or fixed up, and then when the time is right, my bookkeeper replaces me to maintain the system for the client over the long term.

Clients like that their systems are setup right by an expert--me--Madeline. I ask all the right questions, bring to light all the things that they've not considered, help them streamline their systems, and mostly--create structure out of chaos.

Client's like that I've done the work to find a trustworthy bookkeeper, that their system will be maintained properly over time, and that my bookkeeper has access to me in case of questions. Once one of the bookkeepers--currently Tony or Shelly--are in place, the client has access to me for a yearly financial analysis session.

We like it internally, because I like the hard jobs, and my bookkeepers like to maintain systems that are in place, so that they can make them work well over the long term. My bookkeepers also like that I've vetted the client.

This particular client is a good photographer, so I asked him to take a couple of pictures of me and Shelly together on the day when I transferred the job to her. The transition day is the hardest day for everyone involved, but we all manage to enjoy our work anyway.

Seattle Pike's Market Food Tour Fun

We work for Show Me Seattle, which sponsors the
Seattle Pike's Market Food Tour.

So they comped us (me, Shelly, the bookkeeper, and her daughter) to go on the food tour last Saturday afternoon with ten other attendees.

We received tastings from various food vendors and restaurants---from one side of Pike's market to the other--until we were all stuffed. It's fun being a tourist in my own town. Our tour guide covered the history of Pike's market, and some philosophy too.

My favorite area was the garden. I've been to Pike's Market many times and never known there was a garden area. The garden is beautifully taken care of pro-bono. One care-taker was picking herbs. While it's strictly do not touch for visitors, one is welcome to sit there and enjoy it as long as one wants.

Shelly & I spend so much time talking about clients, it was wonderful to get to spend some social time with her, and to get to know her lovely and charming daughter. I highly recommend the Pike's Market food tour.

Intuit is marketing QuickBooks Online to death

Because QuickBooks accounting software has been so helpful to small business owners, sometimes people confuse that kind of helpfulness with Intuit Corp (the makers of QuickBooks) as being helpful to them. But is that true? Is Intuit helpful to you?

Intuit asks me as part of a routine survey. "Intuit cares about me as a person".  I've rated that as a 3 in the past, because I think they care that I give and make them lots of money. See how ridiculous we are? Now that I'm seeing this consciously, I'll rate this 0 in the future. Intuit cares zero for my well being. Intuit is a big corporation with shareholders who care about increasing profitability. If they can make a sale that's not in my best interest; it's still in their best interest. So don't take their advice, the advice of their sales reps, their advertisements, or their website.

I've seen an ad on TV that states, "You can trust Turbotax to get you the best return".  Is that true?

I know how to prepare a tax return, plus I know tax loopholes & strategies. Yet, my tax preparer has saved me  money every year for over 20 years. He's an expert tax preparer, who only works on taxes and with the IRS all year long. His business owns a $20K plus software package, and having done my return year after year, his software identifies all the roll-forward tricks. Turbotax with "you" driving it, cannot get you the best return. Intuit is marketing, not giving you the kind of advice someone who cared about you would give you.

Intuit Corp sales reps will "recommend" QB Online as a way to solve all kinds of problems that have nothing to do with the software. Coffee tasting bland? Switch to QuickBooks Online. Intuit is even making it harder and harder to buy the desktop software, pushing you into QB Online, which is more profitable for them. Now they have this deal where they sell you the lower priced Desktop subscription, which you have to renew year after year, or buy out the contract, so it ends up costing you way more than the stand-alone desktop product.  

Even your tax preparer/accountant may "recommend" QB Online as being an easier way to work together. Is that true? It may be true, or it may be self-serving. With QB Online your tax preparer doesn't have to see you in person.

But I'm not alone in thinking that QB Online is not in the best interest of most small business owners. About 20% of my practice is running QB Online, and in most cases, it's only in their best interest because they think it is. That's good enough for them, so it's good enough for me. 

At QC Computing, we support all QuickBooks versions. We sell trust, so you pay us to tell you what's in your best interest. Besides that, we feel as if we have a moral obligation to use our expertise to tell you what's in your best interest. Is that true?

Lots of client reviews say its true. I believe it's true because almost every week I give up some profit just to do the right thing. Why? Because life is short, the world is small, and there is more to life than profit. I'm all for profit, but how about honesty, trustworthiness, humility, respect, integrity. Those values are more dear than profit. That's what I believe is true.