Why you should pay your employees every week
If you're a business owner setting up payroll, you might be wondering, "How often should I pay my employees"? Twice a month and every two weeks are the most common. Just about everyone has worked a job where he or she got paid every other week. But that's not a good reason to stick with it. If given the choice, you should always choose every week. Here's why...
Best and worst states for business taxes in 2015
The Tax Foundation is out with its annual assessment of business tax systems in the United States.
Harvard, MIT and $100,000 in Free Consulting
This past summer, Cloudsourced Accounting was lucky to be chosen as the client of the annual Harvard vs. MIT Case Competition. I wrote an article about it, and CPA Practice Advisor has just posted it on their site.
![Xero + QBO share just 2% market penetration in U.S. accounting software [chart]](https://images.squarespace-cdn.com/content/v1/5437534fe4b063c91fba5659/1413251404208-SE5IJABBENIXQBIHWWOX/image-asset.png)
Xero + QBO share just 2% market penetration in U.S. accounting software [chart]
Xero and QBO together have a market penetration of close to 2%. That's in a total market of 29 million small businesses in the United States. The market penetration is less than 12% if you only count businesses already using desktop software.
Shoeboxed ends integration with FreshBooks
Shoeboxed announced today via email that it is no longer integrating with FreshBooks due to "an irreparable problem between the two services."
Xero bug causes incorrect values in Executive Summary report
I recently discovered that Xero is displaying incorrect values for three key ratios in the Executive Summary report. The issue does not appear to be affecting all Xero accounts. To be safe, I recommend that all Xero advisors double-check the ratios in the Executive Summary report by exporting to Excel first before publishing PDF reports.
How to collect and track customer deposits in FreshBooks
One problem for FreshBooks users is that customers are unable to make partial payments when paying invoices online. This can make it difficult to keep track of deposits or advance payments from customers. Fortunately there are a few workarounds that make it relatively simple to bill for and keep track of these advance payments.
How to set up the QuickBooks customer list for parents and children
As a tutor, occupational therapist, or any service provider who works with children, your customer is the whole family. You need to be able to keep track of a parent or two, plus one or more children. The problem is that QuickBooks only gives you room for one first and last name per customer. Luckily, you don't have to choose. You can use sub-customers to create linked accounts for each member of the family.
Keeping business and personal finances separate in QuickBooks
Keeping business and personal financials separate is essential for any freelancer or small business owner. The usual advice is to keep two separate QuickBooks company files--one for business and one for personal finances. While ideal from an accounting perspective, this method isn't the most practical solution for a busy professional. Here's how to keep your finances separate while also being able to see the whole picture in a single report.