Accounting Questions


0 Votes
1 Answers
2.47K Views
Can we expense mileage as it incures?

I have a multi-member LLC and we elected to go the mileage route instead of actual auto expenses. Can we enter mileage as it incurs each week as an expense on our books? Or do we have to track...

asked Aug 29 '17 at 02:56
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MissQB
1 point

7 Votes
4 Answers
4.03K Views
Alternative to QuickBooks for a small (1 man) S-Corp?

I'm currently using a 2009 version of QuickBooks Pro for my S-Corp accounting needs. They recently sent me a letter "suggesting" I upgrade to the 2012 version ($200+) as many of the features of the...

asked Mar 10 '12 at 03:23
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Dave
160 points

0 Votes
2 Answers
2.05K Views
Paul Graham's equity equation: how does the math work out?

Regarding this excerpt from Paul Graham's essay The Equity Equation:Let's run through an example. Suppose the company wants to make a "profit" of 50% on the new hire mentioned above. So subtract a...

asked Jun 7 '14 at 05:43
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User33952
1 point

0 Votes
1 Answers
910 Views
What are your favorite accounting / financial hacks for startups?

Are there any unique tips and tricks that you use in your startup when it comes to credit cards, expenses, etc?

asked Feb 13 '14 at 12:29
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User30111
1 point

1 Votes
1 Answers
3.26K Views
Using existing PayPal and Amazon accounts for new LLC

I'm going to start out by providing a bit of background info here. My actual question is in bold, below. So my wife and I run a website for digital artists that sells download subscriptions. This...

asked Nov 15 '13 at 09:55
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Jordan Magnuson
8 points

0 Votes
2 Answers
734 Views
Where Can I Find Clients to Offer Virtual Assistants and Project Management Services to?

Hello I own a business service support firm which overs accounting, administrative support, and project management services. Currently, we begin offering software training and solutions to...

asked Aug 21 '13 at 04:00
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Te Leigha Peavy
1 point

2 Votes
1 Answers
964 Views
How should I setup accounts for a small non-profit with monthly membership dues?

I am attempting to create books for a small non-profit where we have a member base who pay a monthly membership due. I have thought about creating an accounts receivable for each member that would...

asked Jul 31 '13 at 01:19
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Ahhchuu
13 points

0 Votes
1 Answers
851 Views
Credit card for business expenses: not 100% business OK?

I'm thinking of starting an LLC for my app projects, and I'd like to keep a separate business credit card to make the corporate veil harder to pierce. However, a lot of my business expenses are...

asked Jun 12 '13 at 14:53
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Archagon
111 points

2 Votes
1 Answers
1.16K Views
Do I have To Pay Taxes In The US?

I own a website and I sell digital content. I'm a non-resident alien with the US. Most of my customers are US based so I was wondering... Will I have to pay any taxes to the US? I have read that...

asked Jun 28 '13 at 12:24
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Jose Rodrigues
11 points

0 Votes
2 Answers
689 Views
Should the purchase of an asset count towards the monthly net profit of a company?

We operate a network of websites and from time to time we purchase other websites to add to this network of sites. At this point our company is profitable and we do monthly distributions to each...

asked Apr 25 '13 at 01:08
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User17220
19 points

2 Votes
1 Answers
967 Views
Using accrual accounting for recording catering transactions, should I have an account for each customer?

For example I could make a transaction like this: Order Placed for Yummy Meatball Platter $120 debited to Cash Account $120 credit to Food Payable(?) Account Then all outgoing payments (in the...

asked Apr 16 '13 at 03:22
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Io Samurai
123 points

0 Votes
0 Answers
548 Views
How to simplify my quickbooks items list

I am using Quickbooks to handle invoicing, purchasing, sales, etc. and so, to facilitate all these processes, I have an 'Items' list; I know, pretty standard stuff, right? Well, here's my problem,...

asked Mar 23 '13 at 01:51
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Jvance
1 point

0 Votes
2 Answers
1.09K Views
How do I integrate accounting and logistics software into an all in one system?

I would be starting an online clothes shop. Instead of having 2 systems act independently when an order comes in where the logistics system would handle which item warehouse should be packing and...

asked Mar 16 '13 at 01:09
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User25491
1 point

0 Votes
1 Answers
681 Views
Tracking all work/items-delivered are invoiced

We are a small business and use Xero.com (which is an accounting system without ERP functionality). What we have found that we have at times lost track of items requested by the customer, and have...

asked Feb 10 '13 at 05:57
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G18c
113 points

1 Votes
2 Answers
3.04K Views
Accounting upfront payments in an accrual manner

In a subscription-model context, a customer can be offered to pay for a year in advance in exchange for a rebate. This might be desirable for the business for cash flow reasons. In accrual...

asked Feb 3 '13 at 09:33
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Jonallard
106 points

1 Votes
2 Answers
580 Views
Who should process payments?

Suppose: Company A owns product P P is managed by company B The sales contract is between A and customers A has a contract with B such that B receives all income generated by P Could B directly...

asked Feb 6 '13 at 03:29
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Kate
99 points

0 Votes
2 Answers
7.88K Views
What's the best way to deal with a proforma invoice?

I have a supplier that sends me invoices in advance, with so many days to pay. I want to enter these invoices into my accounting software as soon as they arrive, so I know what my commitment is for...

asked Dec 8 '12 at 03:59
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Tim Long
108 points

1 Votes
1 Answers
614 Views
Tax Year & Incorporation Question

My partner & I just won $30,000 in a business plan competition. We haven't incorporated yet (and therefore haven't cashed the check). We plan on spending all the money to get the business...

asked Nov 28 '12 at 04:12
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Thread7
11 points

1 Votes
2 Answers
855 Views
Apportioning annual expenses across multiple tax years

My wife is starting an architecture business as a sole proprietor. One significant expense is insurance. Suppose that she pays $10,000 for insurance now that covers the period Nov. 1, 2012 to...

asked Nov 1 '12 at 10:36
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Kekito
1,936 points

5 Votes
8 Answers
1.72K Views
how should I start bookkeeping for my tiny company?

I started a little software company as a sole proprietorship and I'm generating income from an app in the Mac App Store. I have made a few business related purchases (software, web hosting,...

asked Nov 1 '12 at 14:49
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Mike T
174 points