How to Avoid Losing 501(c)(3) Tax-Exempt Status

There are a number of advantages to being tax-exempt as a 501(c)(3) organization, namely being exempt from income taxes, and frequently from state sales tax and property taxes, and being able to accept tax-deductible donations. On the flip side, there are also some...

Preparing and Filing W-2s in QuickBooks Online

Each January, you’ll need to distribute W-2s to any employees you paid during the prior year, and file a copy with the Social Security Administration (SSA). Before printing W-2s for your employees, you’ll first need to tell QuickBooks which type of paper you’ll be...

Preparing and Filing 1099s in QuickBooks Online

If you pay consultants or contractors for work during the year, you’ll most likely need to issue them 1099s the following January. These are required when you pay an individual or company $600 or more during a calendar year, unless the recipient is a corporation or a...

Converting from QuickBooks Desktop to QuickBooks Online

If you use the desktop version of QuickBooks, you’ve probably heard about their push towards the online version. It has certain advantages over the desktop version, though some companies decide it’s not the right fit for their needs. If you’re still deciding between...

QuickBooks Payments

If you’d like to let your customers pay by credit card or ACH, you can set up a Payments account with QuickBooks. When you send an invoice to a customer, there will be a link to make a payment. If they use this link, the payment will automatically post in your...

Management Reports in QuickBooks Online

Do you have a set batch of reports that you run on a regular basis and want to give it more professional styling? Check out QuickBooks Online’s Management Reports. You can create a package of reports that includes a cover page, table of contents, preliminary pages,...

QuickBooks Online Advanced

If you’re starting to outgrow QuickBooks Online (QBO), or are considering moving onto QBO and not sure if it will meet your needs, consider looking at the new Advanced plan. Intuit added this plan for larger small companies with more complex accounting needs and it...

Accounting Manual Contents – Fixed Assets

If your organization maintains any fixed assets, your accounting manual should detail your capitalization and depreciation policies. Include details about: What purchases do you capitalize? What are the minimum dollar value and useful life of assets that are...