Business Discussions

Hello everyone! Welcome to the Talk About Your Business segment where we talk about......you guessed it...Business! I'm curious as to know how many of you have heard about BNPL, also known as the "buy now, pay later" payment option? Since the pandemic, this has become a prevalent practice for many businesses, as mentioned in this article by Forbes. They shared why this would be a wise business decision in 2021 and beyond.    One reason is that it will work for items that may be on the higher end of the budget. For example, selling luxury goods like jewelry would make it easier for customers to decide to purchase your goods. Not only would it work for high-end products but also cheaper items. With customers having this option, it opens the door for them to increase their order size. For example, instead of purchasing one dress, they may buy three. That way, you are getting more value out of one sale. Also, this could have them coming back more to add goods, building up your cu

Failing in any capacity is hard. Most times, you’ve put a lot of time and energy into something that didn’t work out. But that doesn’t mean it wasn’t worth it. Both unfortunately (and fortunately), failure is a great breeding ground for growth and learning. Here’s why failing is good:     Learn what not to doWe don’t live life in a simulator where we can try a number of different paths and see how things play out. The best lessons are always learned in real time and often are because things didn’t work out the way it’s intended. That hands on experience ensures that the lessons stick moving forward.   Promote adaptation OK so that didn’t work out, now what? One thing failure does is make you rethink and reinvent. Maybe the whole idea needs to go, or maybe it was just your approach. There’s so much insight to be gained by taking the time to look at what went wrong and why. Then you can look to the future and try again.   Not a waste of timeSometimes failure doe

Hello everyone, and welcome to the QuickBooks Community! Today, I have an interesting article for you about increasing your customer base in the restaurant industry. Our Resource Center mentioned are few ways, so let's dive in and see what they said.    Social Media Marketing has become one of the inexpensive means yet effective ways of bringing customers in. Below are some strategies to gain more locals.   Complete Your Profiles with Relevant InformationOnce you are setting up your profile, ensure that you have the most relevant information, such as your menu (with pictures), website, location, number, and hours. Have you ever researched a restaurant and they have no photo of their food? Doesn't it turn you off? For me, it does a little unless the reviews are extremely good.   Include Mouth-Watering PhotosStemming off the first point, sharing pictures food presentations is a huge trend. It may be because of this generation, but I will admit I am one to take photos

Hello Community, the end of the year is on the horizon! It’s been a tough year for a lot of people, especially for business owners who needed to make a significant shift in the way they run their companies. Forbes magazine has published an article about building a strong connection with your online buyers. Having a digital business (or one that recently transitioned to digital) doesn’t mean curating strong connections with your customers isn’t important. This article has 3 fantastic tips to help you out, so let’s get to it!     Create An Aspirational ImageYour online image is important and can bring people to your page if they find something eye-catching or relatable. Sharing your journey, your wins and loses, is a great way to bring customers to you. “Regardless of what your customers aspire to, you can create a powerful connection and an identity that truly resonates with them when you tie your business to these goals and dreams."   Show a human faceBusiness is person

Over Thanksgiving weekend my dad was in town visiting from South Carolina where he is a project manager for his company. We were discussing the latest operations he has been working on and he mentioned a chart the people involved with the job use to stay on task. I thought this would be a great topic to relay here in the Business Discussion space as the holidays are here and there is lots of work to be done.   The plan I'm referring to is known as the RACI Chart. Let's break it down:   R - Responsible Definition: Does the work to complete the task Number of team members to assign: At least one per task A - Accountable Definition: Delegates work and is the last one to review the task or deliverable before it's deemed complete Number of team members to assign: Limit to one per task C - Consulted Definition: Provides input based on either how it will impact their future project work or their domain of expertise on the deliverable itself. Number of team members to assign: No

Hello - We purchased a school with real estate a couple of months back.  For liability protection, the real estate is under an LLC and the Operating business is under an S Corp.  Our total investment was 20%, including down payment and closing costs and the rest was financed.  My questions are as follows:1. I am assuming I set this up as two entities in QB - the LLC and the S corp.  How much of our down payment should I put as owners equity for each?2.  We received cash from the Sellers in this transaction as fees that was collected in advance.  Is that equity or a short term liability as a pre-paid revenue?Thanks in advance for any help

According to their website, Giving Tuesday "is an opportunity for people around the world to come together through generosity in all its forms by sharing acts of kindness and giving their voice, time, money, goods, and advocacy to support communities and causes."  Knowing that everyone has different causes near and dear to their heart, I asked the team to share some of their favorite charities.       ++++++   Morgan: My favorite charity is St. Jude Children's Research Hospital. I chose this charity as my favorite for a couple of reasons. First, because I believe there is life saving work being done there and secondly, I can't imagine how concerning it would be for your child to have to be a patient at St. Jude and the last thing any family that finds themselves in that situation needs to worry about is doctor bills or money for a place to stay. With charitable donations, families never receive a bill from St. Jude for treatment, travel, housing, or food.

There's no denying the pandemic changed our lives in many different areas. One of those would definitely be work, specifically where we work. As we move forward many employers and employees are embracing permanent work from home status. If you fit into this category, I recently read an article shared on the QuickBooks Blog that discusses a few ways to effectively manage remote workers.   Set Weekly GoalsShort-term achievable goals are a great way to keep everyone motivated and oriented. "Setting weekly goals helps employees know what they’ve accomplished, where they’ve exceeded and how they need to step up. Establish metrics they can live by and make sure those results are readily accessible."   Make meetings short and informativeThink about work-life when you were in the office; meetings didn't typically last for hours. There were more quick yet informative conversations that happened more often. Meetings are necessary but keep them short and sweet to all

Hello QuickBooks Community! How is the Thanksgiving prepping going? I am so behind but looking forward to tomorrow! Welcome to the Talk About Your Busines segment!  In this season of thankfulness, it would be a great time to share this joy with your customers, employees, and others. Here are a few Thanksgiving messages that I found would be perfect for the occasion:    As I count my blessings this Thanksgiving Day, know that you are among them. Employees like you have made my business what it is – and for that, I am extremely grateful.   In this season of thanks, I have many things to be grateful for. And one of them is wonderful clients like yourself. Thank you for your friendship and Happy Thanksgiving.   The opportunity to serve clients like you gives me joy and thankfulness every day of the year. I would like to wish you a peaceful Thanksgiving holiday and the time to truly enjoy it with your friends and family.   May the good things of life be

I am a new QBO ProAdvisor and I’m not sure what to charge clients. I live in Texas( not sure if the location affects price).  How do you determine your prices? Does anyone have a pricing/fee sheet that they can share with me? 

Welcome back Community! I hope everybody is doing great today, and if you're not so great just remember it's a short week that ends with pie and that will most likely bring a smile to your face. I read a post shared on the QuickBooks Resource Center that was written by a bookkeeper and covered some helpful tips to keep in mind when it comes to bookkeeping for your own business.     Separate your personal and business bank accountsWhether you're just getting started or are already an established LLC it's always a good idea to keep your business and personal accounts separate. Actually, if you are an LLC it's required to keep them separate. This protects your bookkeeper and allows for a clear spending trail in case of an audit.   Do your bookkeeping weeklyBookkeeping is one of those things where if you don't do the small tasks regularly, they can pile up to create a big job. The bookkeeper mentioned in the article that "regular maintenance" is the most important

As long as there have been businesses, there have been shady characters that you have to be aware of. As technology has evolved, so has the cybercriminal. Verizon found that phishing attacks rose by 11% and were the most common cause of corporate data breaches in 2020. Over in our QuickBooks Blog, Nick Summers has given you the help you need to spot phony emails to keep your business information safe.     1)   Check for typosCybercriminals don’t typically take their time and watch for typos. If you look closely you may find some spelling or grammar mistake that could raise some flags. No one is perfect in emails, but if you see more than a few, it could be worth looking into. Also make sure you check on your name and your company’s to make sure they are correct.   2)   Check the sender’s email addressIf the person claims to be from a big company, most likely you won’t see Gmail, Outlook or yahoo. Summers points out, “Most cybercriminals are

It's that time of year... With the various winter holidays and get-togthers, one of the main attractions will always be what is being served and those special dishes that you only get to eat a few times a year.   So of course with American Thanksgiving just around the corner, I asked the team about their go to recipes or signature dishes and they absolutely didn't disappoint!       ++++++ From Rose: Over the last year or so and all the time spent at home, I have developed several new hobbies. One of which is cooking things from complete scratch. My sister and I both received stand mixers as a gift last year and since then, we have gotten every attachment possible including the pasta roller and meat grinder. Interestingly enough, my sister also works for a meat supply company which allows us to get high quality meat for low prices. With all of these pieces falling into place, we decided to give homemade lasagna a whirl. Now, I'm not talking about the heavy

It's Friday!!!! I don't know about you, but I felt like this week flew by, and I'm not mad at it at all! Hello everyone, and welcome back to another segment of Talk About Your Business. With talks going around about wearing a mask and not wearing a mask, have you constructed your mask policy? Inc.com  gives us insights into writing one, and I do see this can be very instrumental to your business. Here's what they shared:   GuidelinesThe Centers for Disease Control can advise on what you can do in your business, but the Occupational Safety and Health Administration makes the rules. When they release guidelines, you must abide by them. Therefore, please ensure you are checking these within your state before modifying your policies.   Different TreatmentsIf your state allows vaccinated employees to be mask-free, the same can apply to your business. However, for non-vaccinated employees, let them still wear their masks to protect themselves and others. You can rest

Time is flying here in the Community (and elsewhere) and many of you are gearing up for a busy season. If you’re looking to bulk up your team, here are some suggestions for questions to ask your interviewee.     Do you prefer working in a team or alone? Finding out someone’s personal preference when working can help you find a role that will be a good fit or determine that this candidate may not be the right one for your needs.   What has been your proudest moment at work? This will give you the greatest insight into what their strengths are and how they best handle tough situations.   Why did you apply to this position? Did they do their research before applying? Do they have any knowledge of the requirements or job description?   What has your typical role been like? This is a good gauge to see if they have been given manager-like responsibilities or have mostly been in a supportive role.   How do you deal with deadlines?As a business owner you’ll want

Join us live on Wednesday, November 10th from 10a - 2p PT for a live #AskMeAnything session around preparing for the end of the year.  Our Experts will be answering your questions on all things year-end - payroll, reports, closing the books, and more.         Good morning and welcome to our preparing for year-end AMA!  The AMA is live, so please feel free to ask your questions now and our Experts Alison and Mateo will be answering them live.  

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Good afternoon to you and welcome back to the Business Discussion board. The years 2020 and 2021 have brought about many changes in many aspects of all of our lives. One thing that changed was that a lot of people started side gigs that could be done from home. According to an article I read that was shared on the QuickBooks Resource Center, it's highly possible to turn your side gig into a successful business. Let's take a look...     There's probably a lot of reasons why people start their side hustle. Some of the top reported reasons are:- needed additional source of income- idea for new product or service- opportunity presented itself with new market   If you're among the many that plan to start your own business, here are a few keep points to keep in mind:   Embrace the virtual reality87% or more of small businesses that will open within the next 12 months will be online. With that being said being set up for online sales, having a nice up-to-date website, and

Anybody here watch Shark Tank? I think it's interesting to see new products and the sharks always have the best insight. I found an article earlier this week from therichest.com that shared an interview with Shark, Mark Cuban. Mark is a very successful businessman who offered some great tips for businesses. Here's what he shared...   Don't Start Something You're Not Passionate AboutWhich makes perfect sense. Money is a great motive to start a business but if you don't love hat you're selling, you'll quickly lose that motivation.   Sales is Crucial to BusinessLeads, interests, engagement, and traffic are all important metrics for any business. However they don't mean much if they don't ultimately lead to sales. Sales leads to revenue, which leads to turning your hobby or interest into a real business.   No Private OfficeThis was kind of surprising to read and something I would've never thought of. People always joke about making it to "the corner office" as a ma

Financial AccountantThe Lyman Allyn Art Museum in New London, CT seeks a bookkeeper/accountant with a proven record of success for a part-time position. Reporting to the Museum Operations Director, this part-time on-site position is responsible for processing transactions in existing accounting system (QuickBooks) and performing various clerical tasks within the Finance department The ideal candidate is a self-starter who possesses the ability to work both independently and collaboratively and has at least an Associate’s Degree in Accounting or 5 years of relevant accounting experience and is proficient with Microsoft Office Suite. Experience with QuickBooks is required. Review of applications will begin immediately and continue until the position if filled. Please send cover letter and resume with references to [email address removed]. The Lyman Allyn Art Museum is an equal opportunity employer. 

Welcome back to the Business Discussion Board! Have you ever found yourself in the predicament where your customers aren't purchasing your product or service as often as they did before? If so, I've listed a few reasons why they may not be buying, as well as pointers on how to get this resolved.   One reason people may not be buying from you is because your offer lacks clarity. You can't expect them to pay for something they don't know all of the details about. To avoid this you should use plain, descriptive, detailed language in each post, marketing campaign, and listing you present.   Next up, you may be too "behind the scenes." Many sales come from a personal connection. If your customers never see your face or your personality they're going to have a hard time build trust and a connection to your business. To prevent this from happening it's important to share frequently, and you don't have to be an open book but a few personal stories here and there can be really helpfu

  Accounting is a process. There’s an order to everything, from completing sales transactions to running financial reports and reconciliations. Your First Time with QuickBooks Online is a series geared towards first-time QuickBooks users who want to get started bookkeeping right now. These articles cover all of the setup and accounting workflows you need to know for a comprehensive setup, guiding you from your initial sign up through your next financial quarter and beyond. Each article provides step-by-step instructions based on where you are on your journey. We’ve included the essential tasks as well as recommended workflows and optimization practices you can easily integrate into your routine. By the end of the series, you’ll feel completely confident with your accounting in QuickBooks. While we recommend specific time-frames for completing each task, always go at a comfortable pace - it's

Our Resource Center is another place where QuickBooks has your back! Ken Boyd wrote a helpful article on 1099 forms that is sure to add some clarity to your tax work flow.     Many business owners utilize contractors to work, but let’s make sure we know the difference between a contractor and an employee. This is the first step in having a successful filing period with your 1099s. Boyd breaks it down into three main questions to help you determine where your worker stands:   Behavioral control: Does your company have a right to control what the worker does and how they perform the job?   Financial control: Does your company have a say in the material aspects of a worker’s job? In other words, do you decide which expenses are reimbursed or who provides necessary tools and supplies?   Contractual relationship: Is there a written contract? Are benefits such as pension, insurance, or vacation days a part of that contractual obligation?   These quest

If you are a movie-goer, then you know that November and December is when studios put out a lot of their "big ticket" movies to take advantage of the various holidays and extra time off that people have at the end of the year.   So in preparation, I asked the team what everyone's go to movie snack is.  Keep reading to see what they had to say!   ++++++ From Kiala: Our family loves going to the movies and it wouldn't be the same without snacks. My kids and husband always go for the gummy things: sour patch, Swedish fish, Mike n Ikes, etc. I'm more of a hot dog/nachos kind of person. And to top it off, I always need a blue slushy.   ++++++ From Sasha:When I do get the chance to go to the movies, this is what I get. First, a large popcorn, depending on the movie I'm watching, I do not want the traditional large bucket of popcorn but the one with the movie characters on there if available. Second, I get a large Schweppes Ginger Ale because that is the best ginger

Happy Friday! Nice to see you here in the Talk About Your Business segment. Here is a quick thought? As your business grows over time, there may be a moment where you have to outsource to focus on more pressing matters in your industry, right? It can be simple as getting someone to handle your social media pages to help grow your business with their tools and strategies. Today, I wanted to stop by and share this article by Forbes about six questions to ask a social media agency before hiring. Let's dive in!   Can you outline your experience growing a community?Growing your account is the main purpose of a social media agency, but what you would need to look out for is if the tools and strategies they used in the past confirm valid results and truly reach the target audience.   How do you combine organic content development and paid content development?Once asking the agency this question, this will reveal if they use additional advertising funding or are they creative enough