Business Discussions

Hello Community! Today we will be talking about cash flows. According to this article in the QuickBooks Blog, having a positive cash flow is important for the success of your business. It helps make sure you can pay bills, buy equipment and inventory, Invest in new growth opportunities, & repay debt. In a cash flow statement, you will notice that there’s 3 different key types or sections. Let’s take a look at what these are:   Operating: An operating cash flow includes cash from core business activities that involve the sale or production of your goods or services. For example a customer payment, an inventory purchase, or payroll. Investing: Investing cash flow is money you spend on fixed assets such as equipment. It can also be cash you bring in from selling equipment. Financing: This is the money you pay or receive from lenders, investors, or other creditors.     It’s important to remember that cash flow statements provide valuable insi

  Do you want people to remember what you're saying? Look no further! Inc.com shared this article about three simple steps that make every speech unforgettable. Here is what they had to say:   Make no more than three main points.According to scientists, humans can only keep three to five items simultaneously in the short term. So when explaining complex situations, condense them into more straightforward points when communicating.   Explain the same concepts in multiple ways.The keys are to give a straightforward explanation, follow it up with a metaphor, and end with a real-world example. The author shared this.   The fact: When demand is greater than supply, prices rise, and when supply is greater than demand, prices fall. The metaphor: Illustration of a village marketplace where there's only one baker selling bread, and then three other bakers open up booths. The real-world example: Noticed that when the economy slows, prices at the pump often go down

I am looking to find a peer that is in or has a client in the locum, or professional staffing services industries that I could collaborate and share best practices with.

Hello All! Welcome, Welcome to our Business Discussion segment! Today, I want to reach out to new business owners. Now that you are more knowledgeable about how a business works, are you familiar with business vocabulary? Below, I have listed some business English vocabulary words guaranteed to be spoken in offices, between companies, or even in international languages. Building your business vocabulary allows you to better communicated vital thoughts and concepts to others in the business environment.     Unique selling proposition differentiates a product or service from competitors. Commodity-product that can be traded or sold in large quantities Opportunity cost- the loss of choosing one action over another. Forecast- predicts various business functions. Lucrative- total money spent is more than what is received. Make redundant- dismiss for economic reasons. Merger-joining of two or more companies to make one standard company.   These are just a f

Welcome to the Business Discussion board, ladies and gentleman. Today I'm stopping by to share an article from the QuickBooks Firm of the Future site that outlines how to improve client, customer, or even just business relationships as a whole. Here's what the writer had to say...   Types of business relationships Network: Within the business realm, network relationships are those that are made up of colleagues and other connections that open opportunities. Internal: These types of relationships consist of employees and contractors who help the business run. External: External business relationships are those made between you and your client who benefits from your product or service.   Now that you know what kind of relationships there are within a business, here are a few pointers on how to improve them:   Systematize everythingEverything around us functions by way of systems, so business shouldn't be any different. "A system is a standard pro

Welcome back to another Business Discussion chat. Today I want to share a few points with you that can be considered hard lessons to learn in the business world. Here are a few that you may have experienced before or can prepare for in the future.   You will have bad days. Breaks are so important and necessary. Be "ok" with failing. Imposter syndrome is real. You can't do everything. What got you here, won't get you there. As your success grows, not everyone will go with you.   These are just a few lessons that can be hard to learn in the business world. While difficult to go through, they're not reasons to give up. Keep pushing forward on your road to success! What are some lessons you've learned along the way as a business owner? We'd love to hear your thoughts in the comments below!

Have you ever thought about hosting an event for your business? This may sound like a lot of preparations, resources, time, and money, and it could depend on your budget and other factors, but there are many benefits to doing so. Our Resource Center shared some reasons why it is worth it. Here are my top four that were mentioned:       Brand Awareness-this opens the door to interacting with potential customers and establishing meaningful connections through your product and services. Network opportunity-it was mentioned that the ultimate reason why people love to show up to events is to connect with like-minded individuals. This could also open up a relationship where your business could expand in a way you didnt think. Creating a sense of community- everyone wants to feel like they belong or are part of a community that cares for them. Know your audience better- how can you target an audience if you are not sure what they want? Well, this is the key. Knowing this and

  Happy Wednesday Community! Have you been wanting to change your current social media strategy or simply try something different? If so, then you’re in the right place. Today I want to go over a topic that I came across on my linkedIn this morning: Experimentation when it comes to your social strategy.   This could be a new social media network or feature which you can then determine if it’s effective for your target audience. Experimentation can also reveal faster ways to reach your goals, help you avoid costly mistakes and uncover new information about your audience.   Here are 7 steps to running a social media experiment according to Sprout Social:   Formulate a hypothesis Choose the right type of social media experiment Select your metrics and the network you want to test Define the duration of the social media experiment Select your variables and control Conduct the social media experiment Analyze and share the results of your experiment   Do you have

Taxes can be... taxing. I recently read a new article posted on the QuickBooks Blog that offers a tax preparation checklist for small businesses. If you want to get the upper hand on tax season, let's take a look at what it says.     Understand the types of business taxes Income tax: Taxes paid on the profits made by the company. Estimated tax: Quarterly tax payments that may be required. Excise tax: Additional taxes on certain goods and services. Self-employment taxes: Social Security and Medicare for earnings. Employment taxes: Social Security, Medicare, and federal unemployment taxes.   Know what business tax forms you need to file Schedule C: Return with Form 1040 to report income as a sole proprietor. Schedule K-1: Use to report income for pass-through entities. You will need to complete Schedule K-1 as an owner of an S corporation or partnership 1099-Misc: Use to report rental income paid to landlords or gross proceeds paid to attorneys. 1099-NEC: Us

Good afternoon Community! I'm stopping by to share an article I recently read posted on inc.com that talks about the most common mistakes leaders make when crafting a business strategy. If you're looking for what not to do when it comes to business strategy, this one's for you.   Lack of a clear frameworkA good foundation is key to pretty much every aspect of life, and a business strategy is no different. The writer here mentions solid framework captures and connects strategy data and insights to key decisions and action plans. A good place to start is to answer the question of why your business exists and core values, then slowly branching out to ideal market and analyzing the competition.   No meeting rhythmsOften times leaders go in to business meetings looking at the broader picture; discussing actions that will take place quarters or maybe even years into the future. This can leave your (and yourself) feeling overwhelmed and with no sense of what to be doing&nb

Every once in a while, we can all use a pick-me-up. If you haven't heard it today or in a while, keep pressing on! I have a few of my favorite quotes that hopefully will inspire you as well or motivate you further. Here it goes!   Martin Luther King, Jr."You will never be completely ready. Start from wherever you are."   Mark Twain"If opportunity doesn't knock, build a door."   Robert Frost"Fall seven times and stand up eight."   John C. Maxwell"Motivation will almost always beat mere talent."   Norman Ralph Augustine"Whenever you are asked if you can do a job, tell 'em, 'Certainly I can!' Then get busy and find out how to do it."   C.J. Hayden“If there is no struggle, there is no progress.”   Feel free to get a sticky note, add your favorite quote, and place it in a spot where you can constantly be reminded and let that drive you! As always, be safe and take care my Community Family!

Does anyone have a pricing template base on number of transactions. I need to give a new client a price quote for my services. Thanks

Hello Dear Community, Hope you are doing fine. I'm the founder Prybox Technologies a B2B start-up based out of Virginia. My startup helps businesses track their purchase orders in real time. The goal is to reduce the manual effort of following up with the suppliers through automation.  I wanted to understand if this is a useful tool for businesses in this community.  

Do you have over 5,000 emails, half of which are not business-related? Many of them are ads, and let's be honest, you only go through some of them. Right now, I'm running out of storage for my Gmail account, and the majority are ad-related.  Steve Strauss with USA Today says it's time for business owners to ditch emails and start texting customers instead. "Between unopened emails, unanswered emails, online newsletters you signed up for – and ones you didn't, flagged mail, junk mail, and other unwanted messages, the fact is, email has become a burden."The approach to texting consumers may be unusual, but it looks promising. Below is a summary of some collected data:   Text marketing campaigns can have up to a 98% open rate. Text reminders result in 40% fewer missed appointments. And businesses generate two times more leads by turning missed calls into text conversations.   The fact is people are more likely to see a text than an email, and missing an appointment or inv

Have any of you seen the movie "The Help"? It's one of my all-time favorite movies and one of the main characters uses the affirmations, "You is kind, you is smart, you is important." What we say to ourselves and about ourselves really impacts our daily lives and thoughts. Here are a few affirmations to remind yourself of to help grow your business...   "I am capable of achieving even my wildest dreams." "I will overcome any challenges I face on the way to achieving my dreams." "I have what it takes to be the most successful version of myself." "My failures do not define me." "My business has a positive impact." "I believe in myself." "I am in alignment with my purpose and path." "Every step I take is a step closer to success in my business."   These affirmations are sure to serve as helpful, positive reminders of what you can do when sometimes it may feel like you can't. You got this! What are some things you do to help you stay motivated? Let's chat in the com

We are just starting to use QBO for an auto repair shop and we are looking for a way to incorporate the concept of Work Orders into the mix.  Each job we do is described by a Work Order.  The Work Orders are aligned to Customers (each customer can have 1 or more Work Orders) and technicians track their time against the Work Orders.  Is there a way to model this within the tool? For extra credit, we'd also like to be able to have a list of cars and then associate specific cars with customers and/or Work Orders.  Is it possible to do this? 

Hello Community! You've reached the Business Discussion page and I'd say you’re ready to discuss... business! Today I want to share an article I found posted on the QuickBooks Resource Center that outlines some tips for marketing a service based business.   Marketing is important for sales as we all know, and marketing for a product can be a breeze. But how do you achieve the same when what you're selling is a service? Service-based business owners, this one's for you! Here are a few pointers to recall the next time you're working on a marketing campaign...   Reel In Customers With IncentivesHaving a hard time reaching new customers? This may be the perfect time to offer incentives. Incentives can come in many forms such as, a giveaway, coupons, discounts for new customers. Be mindful of where you need your prices to be to still profit but be prepared for a growth spurt! There are also several providers available that will help you distribute your incentives to

 Hello, I'm hoping someone can give me guidance to my problem I'm running into. When I receive my Net Payout from DoorDash and UberEats Merchant, I use the "Match Deposit" to my undeposited funds account for which the payouts are affiliated with. Everything matches fine, my issue is how to I then add the deposit to my Income account I have named "Other Sales" for P&L Purposes. I have tried many different ways, but always unable to get it right.  We use daily Journal entries and our DD and UE sales from each day go into our undeposited funds account. Once the payout is received I can get everything to match up. I need help moving the funds to an income account. Hopefully I do not sound redundant, any help would certainly be appreciated! 

In the near future, I may have several clients across the surrounding area where I live.  What share screen apps are Proadvisors using with their QBO clients? Roslyn Morgante[email address removed]

Good afternoon QuickBooks Community! How many of you have an online business? For today's read, Dylan Ogline with Entrepenuer.com came out with an article to give you some "dirty secrets" about online business. Let's see what they had to say:     Marketing is useless without a great productDo you like quality products? I bet you do, and so do other consumers. It is essential to invest in your product. You can have the best ad in the world, but if your products are not up to standard, it is a waste of time. Ogline explains, "No amount of traffic to a business's landing page will result in sales, growth and sustained success [without a quality product]."   Don't focus on your competitionThe goal is to create a service or product that solves a unique problem other businesses still need to solve. With a specificenough niche, competition can be reduced. Here is an example the writer shared here:'" We help businesses get more leads." Hmm needs some work."We hel

Hello Community! Welcome to the Business Discussion board. I know many of you here are small business owners, and as a small business owner you may not have a ton of hands on deck. In fact, it may only be you - the solopreneur. If that sounds like you, here are a few tips on how to grow your business on your own.   Be super strategicThere's a reason behind every action you take.   Use timersTime is money! You likely have a heavy work load. Use timers to work on a certain project for an allotted amount of time and then move on to the next thing. Repeat until complete.   AutomateApply technology, apps, different platforms to automate business tasks to make your life easier.   PrioritizePrioritize projects, financials, customers, and so on. Tackle what needs to be taken first and check it off your list.   You may be feeling like you're spread pretty thin trying to take care of your business as one man/woman show. I hope this pointers help alleviate some of that. W

Hello Community! If you’re an accounting professional, advisor, or bookkeeper, then you’re well aware of the mental roadblocks that your clients may face. Dealing with finances can be a daunting task, therefore, being a good listener and communicator with your client is important. Knowledge is power so let’s take a look at what three of the most common mental roadblocks clients face are according to this article in Firm of the Future.   Mental roadblock 1: Thinking it will just disappear- It’s important clients know about their financial situation even if it’s not the best. Being informed and acknowledging their situation can then lead to actionable steps for an improvement plan.Mental roadblock 2: Fear of looking dumb- Many clients may stay away because of their fear of not understanding all the nuances of managing their books. It’s important to have this understanding in order to build a strong and trusting relationship with your clients.Mental roadblock 3:&

Valentine's Day is less than a week away! I'd like to share a short list of a few ways you can celebrate the holiday as a small business.   Offer a special "We love our customers!" discount on the day or weekend of Valentine's Day. Send a heartfelt expression of gratitude to those on your email list. Decorate! (My favorite.) Something as simple as heart garlands in the windows will do the trick. Bundle relative items that could be purchased together as a Valentine gift. Much like you would send a Christmas card to clients, maybe send a lighthearted valentine. Blog about gift ideas. Let customers show their love. This can be done with something like a chalk board in your store or a comment thread on social media.   I agree it can be a bit overwhelming to try to do all of the things, but these are just a few simple ideas to participate in a fun way. How do you incorporate holidays or events as a business owner? Let us hear your ideas in the comments!

  Hello Community! Have you ever wondered how you can go about increasing your company’s teamwork in order to produce quality results for your clients? If so, then you’re in luck because today I want to talk about capacity planning. Capacity planning is what allows businesses to predict, plan for, and manage staffing and development needs to help with growth. According to this article in Firm of the Future, here are 5 workflow capacity tips to help you be more productive:   Planning for capacity is key to growth Assess the need to hire additional staff and support Understand your ideal staff/client/vendor qualifications Update technology Enhance communication workflow   Those are all the tips! Having the ability to plan for capacity, assess the need to hire more staff, update technology, & enhance communication workflow are all tools that every business owner needs. To check out the full article, make sure to go here. See you next time!

Welcome to the Business Discussion page! Can you believe it's the first Friday of the month already? I hope January was good to you and February will be even better! Today, I have an interesting read from Inc.com, which mentions, "Your staff is watching. Here's something to pay attention to." It goes how to show how the behavior you have towards your business will have a direct impact on your team but also your clients or customers.     Watch the clock with your team.The author tries to show that when leading your team, integrity is at the forefront and how this influences all levels of your business. He mentioned an important question: Do you arrive early or on time for meetings, whether in team meetings or with clients?You may feel like I am the leader; what significance does that show? It shows your team that they and your customers are a priority and crucial to your business. As the writer rightly said, "your actions directly affect your business and your bottom line