Business Discussions

Welcome to the QuickBooks Community! I hope you are having a great day! Today's article is from the Firms of the Future, which shares the vital role of partnerships in the growth of accounting and bookkeeping practices, drawing inspiration from the entrepreneurial journey of Enkel founder Omar Visram.   Omar Visram's own path to entrepreneurship commenced after honing his skills at a public accounting firm. Despite his achievements at KPMG, he yearned to establish his own business. His epiphany came during a conversation with a former colleague, leading him to realize his mission: enhancing financial resources and decision-making support for entrepreneurs and small businesses.   Omar's success story places a significant emphasis on networking and partnerships. In Enkel's early stages, he harnessed his professional connections, expanding beyond CPAs to engage with bankers, lawyers, and other business professionals. These partnerships played a pivotal role in launching and adv

Hello everyone! Thanks for joining us here in the Business Discussion space of the Community. Many of you here are likely in a leadership role in your business. Today I'm relaying to you an article from inc.com that's helpful to all leaders.   We all know leadership is defined as the action of leading a group of people or an organization, but what really defines a leader? That's one powerful question, but the article has one more for those in charge to ask themselves: How will I be remembered by my peers, colleagues, and employees?   The writer goes on to discuss one way to get a positive answer to that questions is servant leadership. They also state that the ability to achieve this leadership style is open and available to anyone willing to give it a try. "When you arrive at the moment where your servant leadership is crystalized, people will respond with uncommon loyalty and commitment. From a purely business standpoint, this means higher performan

Welcome back to another Business Discussion segment! I hope all is well with you! Quick question: Do you believe you are handling stress properly? If not, I have a few ways to deal with stress:   Delegate: Don't hesitate to delegate tasks to capable team members. Micromanaging can increase stress levels. Trusting your team and allowing them to take ownership of their tasks can alleviate pressure. Stress Reduction Techniques: Practice stress-reduction techniques like deep breathing, mindfulness, meditation, or yoga. Regular breaks throughout the day can also help clear your mind and reduce tension. Time for Self-Care: Prioritize self-care activities such as getting adequate sleep, maintaining a healthy diet, and engaging in activities that bring you joy and relaxation. Supportive Network: Surround yourself with a support network of friends, family, mentors, or colleagues who can provide guidance, perspective, and emotional support.Remember that stress is a natural response, but wit

Good afternoon everyone! I hope you're doing well on this lovely day. Today I'd like to take a minute to get back to basics. Your books rely largely on the chart of accounts and I found a great article on the QuickBooks Blog that goes over all the details you need to get your chart set up correctly.   To start, the chart of accounts, or COA, is a list of the account numbers and names relevant to your company, typically made up of four categories. These include:   Asset accounts Liability accounts Income accounts Expense accounts   The article compares the chart of accounts to a game of Jenga. If one block is moved away from one section, it has to be added back somewhere else.   Now that we know what the chart of accounts is, you're ready to set yours up. Here's how: Create business account names The account name is a recognizable label for the account you're reporting on. (i.e., bank fees, cash, taxes, etc.) 2. Assign account numbers to business a

It's Fridayyyyyyyyyyyy! Are you excited for the weekend? Before you sign out for the day, I have this article from Entrepreneurs, which shared some free courses and learning resources that will benefit small business owners. Here is a list of their programs and descriptions:     Amazon Program: Amazon's Small Business Academy Description: Offers tools, resources, and networking opportunities for early-stage entrepreneurs and small business owners.   AT&T Program: Small Business Resources Description: Provides free webinars, educational series, and "playbooks" on topics like going virtual and cybersecurity. Offers phone and Wi-Fi deals for small businesses.   Bank of America Program: Small Business Resources Description: Offers insights, resources, and operational assistance on money management, funding, credit improvement, HR, and customer relations.   Cisco Program: Cisco Small Business Resource Center Description: Publishes news and technology advice to h

Hi there! You've reached the Business Discussion space of the Community. Today I'm popping by to share a quick list of do's and don'ts for your business' social media pages. Do: Test and try new things Create content for your ideal customer Be consistent and post regularly Build relationships and engage with your followers Schedule posts Vary your post type Use relevant hashtags Monitor your performance   Don't: Steal images Expect instant results Take hate comments personally Compare yourself to others Obsess about perfection Let it consumer your time Be overly promotional Engage in drama   A few simple reminders of how to optimize your social media presence and make your business' page the best it can be! Let's hear your thoughts! What are some do's and don'ts you've come across in your experience?

Do you struggle with networking? Fear not! Our article by Inc. com shares ten effective strategies to build meaningful connections without the discomfort often associated with the process. Here is what they had to say:     Identify Shared Interests: Focus on genuine connections by seeking out individuals who share your hobbies or interests. Leverage Existing Relationships: Start with people you know well and gradually extend your network through their connections. Attend Small Events: Opt for intimate gatherings where deeper conversations are possible, making it easier to establish rapport. Volunteer: Engage in community or industry-related volunteering opportunities to meet like-minded individuals. Online Networking: Utilize social media platforms and professional networks to connect with people globally and maintain relationships virtually. Focus on Listening: Practice active listening to show genuine interest in others, leading to more authe

Happy Friday, and welcome back to the QuickBooks Community! If you are new here, welcome! How often have you experienced miscommunication through email? Let me guess, at least once a week? MakeUseOf shared three tips on writing better emails, and I know this will be effective when communicating with other businesses or customers. Here is what they had to say:   Be PreciseDuring email communication, you want to be specific with what needs to be accomplished or what you are trying to convey to avoid miscommunication. An example mentioned was an interaction with an employee. Sending an employee a message saying, " this needs to be done by tomorrow" can mean many things to them. Instead, say, "I would like for ABC documents to be completed and sent by 3 pm tomorrow."   Structure Your Email ProperlyEnsure that the subject line of your email is related to the message. We all receive many emails daily, and if you like me, I view ones that stand out. When composing the actual email,

  Hello Community! Today I want to chat a bit about how inventory management can be a great asset when it comes to running your small business. According to this article in the QuickBooks Blog, inventory management provides you with more control over your product and inventory in order to meet your customers’ needs.   In addition to that, it can also benefit you in the following ways: Increasing your supply chain efficiency Integrating effective technology Maximizing your profits and returns   Alongside this, you can follow the tips shown below to help boost your efficiency!     These things are all great examples of a strategy you can implement and start with. Doing so will surely provide you with better analytics and control in order to gain a more agile supply chain model.   For more information on this topic, make sure to check the full article here. See you next time!

Are you into the business of transferring designs to materials such as t-shirts, mugs, caps, plates, etc.? Then this is the post for you! Our article for today highlights the best machines to use in 2023 to take your business to the next level, whether for personal or commercial use.     HTVRONT Heat Press Machine for T-Shirts HTVRONT Auto Heat Press Machine for T-Shirts Seeutek Heat Press Machine for T-Shirts Slendor Heat Press Machine 5 in 1 VEVOR Heat Press Machine WOOKRAYS 5 in-1 Heat Press Machine OIIEE Heat Press Machine 5 in 1 Combo Heat Press Machine WHUBEFY 5-in-1 Heat Press Machine   The article contains other machines that you may find interesting to explore. If you have any recommendations on devices you have used before, please share your experiences, and until next time, enjoy your weekend!

Good afternoon, ladies and gentlemen. You're just in time to view the latest here in the Business Discussion space. Everybody, especially business owners, wants to be more productive, am I right? Today I'd like to share how creating systems and process for your business can help you do just that.     CreatingEvery business faces a few different main activities. The next time you go to perform one of these activities, grab a notepad and write down each and every step you take. Once you're finished, review the steps and evaluate them to see if there's a better way to complete them or maybe perform them in a different order. After analyzing the steps and making any corrections, congratulations! - you've made your first process to go by the next time you need to complete the original activity.   Set upTerms like "systems" and "processes" may be a little overwhelming. Don't let it be! And they also don't have to be fancy. Essentially, you're creating checklists, calendars,

Welcome to the Business Discussion Page! If you are new here, a special welcome to you. Today, I have this gem from Firm of the Future, which outlines four practical steps to ensure a positive first impression in client interaction. Here is what they had to say: Prioritize Client Support: Ensure that every communication, whether email, call, or live chat, is respectful and prompt. Set specific times to check and respond to messages, demonstrating your commitment to clients.Systematize and Train: Develop scripts for various interactions such as greetings, new client inquiries, follow-ups, and responses to concerns. These scripts maintain consistency and efficiency in communication. Create a resource library of answers to common questions and train team members to access and contribute to it.Pre-Qualify Prospects: When engaging with potential clients, ask targeted questions to determine if they fit your firm. Tailor your services to match their needs and expectations.

Good afternoon my fellow Community friends! As a small business owner, do you ever feel like you and your team get stuck in a rut of the day-to-day activities? I found a great article from smallbiztrends.com that offers some great tips on how to encourage innovation in your company. Here are a few ideas...   Be Transparent About Your Challenges“If your team doesn’t know what the biggest challenges are for the company, then the ideas they have for innovating may be focused on the wrong things. By being transparent about where you as a company need to improve, you can help people focus their thinking on solving the right problems.”   Admit (and Learn From) Your Past Failures“Tell your new hires how you failed in the past. All newbies expect to hear about the company’s greatest successes when they first start out, but if you get into some of the more significant fails, that just might give them the ideas, motivations or thought processes to truly introduce innovation i

Hello, hello! Thanks for checking out the Business Discussion board. Today I'm here to share an article from inc.com that covers a few helpful tips on how to make your business stand out in a crowd. Let's take a closer look...   Inspired ThinkingThe writer mentions inspired thinking is based on the visionary aspects of a leader. "When you develop and lead your team with excitement, passion, and vision, what you produce will be an extension of that." They also mention that the customer base craves uniqueness, new experiences, and boldness.   Don't Fear ChangeFearing change is often used as a method of protection and the topic of change, in any aspect of life, can bring about a fight or flight response. The article states, "Change is normal and the more you learn to embrace it, the more you gain the upper hand."   Ignore the NaysayersAs mentioned in the write-up, being an entrepreneur entails being creating, adventurous, and daring. We do all of these things in h

Did you know that you (business owners) play a crucial role in giving back to your communities? By actively engaging in philanthropic endeavors, you contribute to the betterment of society and create a positive impact that extends beyond your products or services. Supporting community initiatives, volunteering time and resources, and fostering partnerships with local nonprofits can create a ripple effect of positive change. You can empower the next generation through scholarships and mentorship programs, for example.   Moreover, adopting sustainable and ethical business practices demonstrates your commitment to environmental responsibility. Such ambitions address pressing social issues and foster a sense of unity and shared responsibility among employees, customers, and residents. By embracing these practices, you can build a stronger, more resilient community while cultivating a sense of purpose that extends beyond profits.   Don't you think? Feel free to let us know how you

Hey Community! Today I want to talk about an article I read shared on the QuickBooks Blog. This particular post discusses ways to fund your business without relying solely on your own pockets. Here are a few examples:   Fundraising is a skillAs a business owner, it's pretty safe to say you have a large skillset. One of those skills can actually be fundraising. This comes with practicing your pitch, taking advice on how to better convey your message, and creating documents to back up your statement. "Fundraising, like any skill, is one that can be learned, one that can be improved, and one that can be perfected over time."   Learning from "no""You either win or you learn. There's no such thing as losing." This is what the writer had to say about receiving the answer "no" when requesting money. Using no as an opportunity to learn and better perfect your approach.   People invest in people, not companiesBuilding your network and relationships is key to business ownersh

Hello,Our customers pay us monthly using "Zelle Quickpay", which is convenient for us and them. There is no invoicing or any other method. They just pay their monthly subscription fees using Zelle.  When I sync with my bank feed, these transactions show up as Transfers. So I have to manually add them as "Monthly Subscription Fees" income from a customer. Here are my two issues I would like your help with 1) These transactions are not showing up as "Sales". So this means that they are not recorded as sales under that customer name. How can I change it that these get recorded as Sales and show up both in dashboard and under customer name.2) How can I make Quickbooks record these transactions automatically as "Sales" instead of "Transfers" Thank you for your advice. 

Hey there! It's time for some small business knowledge and tips. Today I'm sharing a few pointers that are helpful at any point of your business ownership, but will come especially in handy your first year.     Befriend Your Fears Doing anything outside of your comfort zone, like starting a business, can produce fear. Our natural response is to get rid of that fear. But fear is a natural part of expanding your comfort zone! In fact, the more you take action that scares you, the more you’ll recognize fear as a good sign that you’re on the right track.   Take Imperfect ActionThe fastest way to succeed is to take messy, imperfect action. Start where you are, and seek out experience and progress instead of perfection.   Naysayers Gonna NaysayThose who don’t see your vision usually have limiting beliefs of their own, and a constrained idea of what is possible. Let them worry if they need to, or even comment, but don’t let it stop you from taking action!   Make Self

Good afternoon my Community peeps! What's up! For our new business owner, being an entrepreneur has many pros and cons. Luckily, our Resource Center shared some, and here is what they had to say:     Pros: FreedomYou can have full access to do what you want without anyone telling you what to do. But do practice active listening, though.   FlexibilityYou can make your own schedules and choose where you want to be.   Profits As your business grows, you have the opportunity to grow your pockets as well!   Cons:   RiskYou are fully responsible for all the risks associated with your venture. Three key factors that would be affected are your savings, time, and effort.   WorkloadYes, you may have the opportunity to work when and where you want, but you would be responsible for most of the work and managing the stages of your business.   ResponsibilityOne word that can be used here to sum everything up is sacrifice. Be prepared to make many of those, bu

Hello Community friends! We often share posts about what to do but today I want to share one about what not to do. I found an article from entrepreneur.com that outlines a few mistake to avoid when it comes to branding for your business.   Being inconsistentBeing consistent with your messaging, visuals, and values creates a clear and memorable image of your brand for your audience and potential customers. If your branding and marketing is all over the road you're risk confusing your viewers.   Not engaging with your audienceIgnoring comments, feedback, and questions can be perceived as you're uninterested in what your followers have to say. Engaging with your audience helps to build relationships and shows that you care about the person and not just the sale.   Not being authenticEveryone wants authenticity. If your viewers determine otherwise you come across as untrustworthy; which is the last thing you want in business. Keep it real!   Check ou

Let this be a gentle reminder to keep pushing with your goals, whether it be healthwise, businesswise, etc. And if you're struggling a little bit, here is how you can set yourself up to keep the goals you want in life.   RealisticMany of you may hear the saying, "shoot for the stars", in a sense, it's a great expectation to have, but you dont want it to be so out of reach that it becomes discouraging when trying to achieve your goals. Choose goals that you feel confident about and that you can meet. Theodore Roosevelt said it best "Be practical as well as generous in your ideals. Keep your eyes on the stars, but remember to keep your feet on the ground."   SpecificThe key point here is to "Make sure you're clear on the how and not only the "what." Your goals should be centered around how you get there. For example, should I cut costs in this area depending on the situation? upgrade my equipment? and so forth.   ConsistentDedicate time to focus on your goals, w

  Hello Community! Today I want to chat about an episode of Mind The Business from the QuickBooks Blog. In this episode, hosts Austin Hankwitz and Jannese Torres-Rodriguez, and guest, Andrea Casanova, share their online marketing strategies. You can listen to the full episode here but for now, let’s dive into the 3 key takeaways that are covered in this episode when it comes to successfully marketing your small business online:   Know where your traffic comes from: The first mistake that business owners make is assuming that all traffic comes from social media. “I had to learn that followers [do] not equal dollars,” says Jannese, who came to better understand SEO in her journey as a blogger. “I realize now that 90% of my traffic comes from SEO,” she explains. “It doesn't come from social media.   Create a brand archetype: It is important that your customers understand your brand. Andrea recommends that business owners create a brand archetype. She

Do you struggle with networking? Fear not! Our article by Inc.com shares ten effective strategies to build meaningful connections without the discomfort often associated with the process. Here is what they had to say:   Identify Shared Interests: Focus on genuine connections by seeking out individuals who share your hobbies or interests. Leverage Existing Relationships: Start with people you know well and gradually extend your network through their connections. Attend Small Events: Opt for intimate gatherings where deeper conversations are possible, making it easier to establish rapport. Volunteer: Engage in community or industry-related volunteering opportunities to meet like-minded individuals. Online Networking: Utilize social media platforms and professional networks to connect with people globally and maintain relationships virtually. Focus on Listening: Practice active listening to show genuine interest in others, leading to more authentic int

Hey there! Welcome back to the Business Discussion board. I've shared a couple "Back to Basics" posts and I have another one for you today. This article was posted on the QuickBooks Blog and covers bookkeeping basics every small business owner needs to know and use. Let's go over a few...   Accounting equationThe accounting equation is the relationship between a business's assets, liabilities, and equity. The equation is Equity = Total assets - total liabilities. The writer goes on to say, if your assets are greater than your liabilities, your business is financially stable. Good info to know!   Accounting ledgerAn accounting ledger is a book or system you use for recording and classifying financial transactions. Your accounting ledger serves as the hub for all your financial information. With accounting software, like QuickBooks, it will manage your ledger for you.   Double-entry bookkeepingDouble-entry bookkeeping is a system where each transaction

Did you know Google Cloud Platform can make your life easier regarding projects and websites in your business? Today, we have an exciting read from Read Write, where they shared several reasons. Here are the top 3 reasons:   Scalability and Flexibility: Google Cloud allows businesses to scale their resources up or down based on their needs. This flexibility will enable you to adapt to changing demands and optimize costs by paying only for the help you use. Security and Compliance: Google Cloud prioritizes the safety and privacy of customer data. With robust security measures, including encryption and access controls, businesses can trust Google Cloud to protect sensitive information. Additionally, Google Cloud complies with various industry regulations, making it suitable for companies operating in highly regulated sectors. Collaboration and Productivity: Google Cloud offers a suite of collaborative tools, such as Google Workspace, that enable teams to work together seamless