Intuit, the maker of QuickBooks, recently entered the 401k market and is getting some good traction. Why is it worth noting? After all, there are hundreds of 401k providers out there and most are investment institutions with much better financial pedigrees than Intuit’s. However, Intuit is taking an innovative approach that might fill a void for small businesses. 401k plans are widely considered to be a powerful tool for retirement savings and for employee retention. Unfortunately, they are usually complex and expensive to administer. Read more »

Scanners have two broad applications: scanning documents and scanning pictures. This being a bookkeeping blog, the focus will be on document management. Paperless is the word of the day and scanners are becoming an increasingly important tool in most businesses, whether your objective is to distribute information more effectively (e.g. Read more »

Wonder about the difference bewteen a Roth-IRA and a Traditional IRA? When making a Roth contribution the amount does Not create a tax deduction.  But the earnings grow and are withdrawn tax free, under current law. An IRA contribution results in a tax deduction. Read more »

A few years ago, the QuickBooks Audit Trail feature could be turned on and off. However, in the most recent versions of  QuickBooks, the feature is always on. Even the administrator can’t turn it off. It has its drawbacks, but for the most part, it is a very useful feature, albeit under-utilized. Quick primer on the Audit Trail. This feature automatically tracks all the additions, deletions, and modifications made to transactions in your data file. Read more »