Sage 50 and QBO differ when it comes to affordability and the ability to meet the needs of certain industries. If you are a product-based business, go with Sage 50. However, if you sell services or you have simple inventory requirements, you can save a few bucks by choosing to use QuickBooks Online. When to…
About the Author
Crystalynn Shelton
Crystalynn Shelton is a CPA and staff writer at Fit Small Business, specializing in small business Bookkeeping, Accounting, and Taxes. She is also an Adjunct Instructor at UCLA Extension where she has taught hundreds of small business owners how to setup and manage their books using QuickBooks for 8 years. Prior to joining Fit Small Business, Crystalynn was a Senior Learning Specialist at Intuit for 3 years and also ran her own QuickBooks consulting and training business. When Crystalynn isn’t writing or teaching, she enjoys rollerblading in Venice Beach and reading a good book.
Freelance Bookkeeping Rates: Hourly Rate vs. Flat Rate
Most freelance bookkeepers still bill their clients at an hourly rate. However, the flat-rate method is becoming increasingly popular. In this guide, we will explain how flat-rate billing works, compare and contrast hourly rate vs. flat rate and discuss factors like geographical location that can influence the freelance bookkeeper rates you can charge your clients. If…
How to Complete IRS Form 720: Quarterly Federal Excise Tax Return
IRS Form 720 is used to report and pay your federal excise tax liability for certain products that are manufactured, produced or imported like fuel as well as services like airline travel. It is not used for alcohol, tobacco and firearms, which use Form 5000.24. We will discuss how to complete Form 720. To avoid…
Zoho Books vs Xero: Price, Features & Who’s Best in 2018
Zoho Books and Xero offer a variety of features, but your budget and business situation will determine which one is right for you. If you have 10 employees or fewer, choose Xero because payroll is included at no additional cost. However, if you’re a solopreneur that employs 1099 contractors, go with Zoho Books. When to…
IRS Business Expense Categories List [+Free Spreadsheet]
Due to the vast number of industries that exist, it is impossible to list every single business expense. However, there is a comprehensive list of common IRS business expense categories applicable to most businesses. In addition, streamlining the process of tracking your business expenses will ensure that you don’t miss out on any tax deductions….
5 Best Law Firm Accounting Software 2018
The best accounting software for law firms makes it easy to manage general accounting, handle trust (IOLTA) accounting, track billable hours and manage client billing. We evaluated each product based on the ability to perform these functions plus cost and ease of use. We started with eight products and narrowed it down to our top…
Xero vs. QuickBooks Online: Price, Features, & Who’s Best in 2018
Xero and QuickBooks Online are pretty even in the features they offer, but your business situation will determine which one is right for you. If you have ten employees or less, choose Xero because payroll is included at no additional cost. However, if you prefer an accounting software most accountants are familiar with, choose QuickBooks…
How to Set Up Products and Services in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover how to set up products and services in QuickBooks Online. You can follow along on your own QuickBooks Online account. If you don’t have one already, click here to sign up for a free 30-day trial and follow…
6 Best Invoice Software for Small Businesses 2018
The best invoice software allows you to streamline your invoicing process and get paid much faster by allowing customers to pay online. We evaluated each product based criteria such as the ability to create recurring invoices, send automatic payment reminders to customers and run an accounts receivable (A/R) aging report to stay on top of…
How To Set Up the Products and Services List In QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover how to set up your products and services list in QuickBooks Online. To complete this lesson, you can either watch the video below, read through the step-by-step instructions, or do both. Let’s begin! If you’d like to learn…
6 Best Trucking Accounting Software 2018
The best trucking accounting software makes it easy and affordable for small or large trucking companies to track loads, expenses, and run trip reports. This helps facilitate billing customers, paying drivers, and filing quarterly International Fuel Tax Agreement (IFTA) reports. We looked at several products and narrowed it down to six, including a free option….
6 Best Business Expense Tracker Apps 2018
The best business expense tracker apps allow you to capture receipts electronically, import credit card transactions, and integrate with most accounting software products. As a result, employees spend less time tracking down receipts so you don’t miss out on any tax deductions. We evaluated a dozen options and narrowed it down to the top six….
