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QuickBooks Tip – How To Record Payment Processing Fees

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QuickBooks Tip – How To Record Payment Processing Fees

A common problem people have when recording payments received from customers in QuickBooks is when fees are taken out prior to the payment funding so that the net amount received is less than what the customer actually owed and paid.

When this happens you go to record a payment from the customer and if the customer paid (eg) $5,000 you only received $4,855.00 because the payment processor took out 2.9% or $145.00. The problem is if you only record $4,855.00 as ...

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QuickBooks For Companies With Billing Systems

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QuickBooks For Companies With Billing Systems

This question came in from the contact form here on my website:

Comment: I was browsing how-to videos on how to use QuickBooks.  Here’s my dilemma:  I have specific software for practice management for patient accounts.  It keeps track of services rendered, products purchased, and payments. I can generate patient bills and claim forms to submit to insurance carriers.  But, I need to track our business bank accounts. Out practice management software does not do this, but I don’t ...

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[YouTube Question] Year End Closing With QuickBooks

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[YouTube Question] Year End Closing With QuickBooks

Kenneth wrote in a while back and asked if I could cover how to close out and transition your QuickBooks company file into a new year.

YouTube Question 1

The quick and simple answer is that QuickBooks does a lot of the work for you. The key is in setting your fiscal year in the company information. Once you set that date, QuickBooks will post a closing entry which takes you net income ...

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Cloud Based RSS Feed Readers – What Do I Do Without Google Reader?

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Cloud Based RSS Feed Readers – What Do I Do Without Google Reader?

I was all excited back on March 13, 2013 when I sat down to write my next blog post. I had been wanting to get this out there for a while and especially since I had specifically discussed doing it with Charlie Russel I knew that he would be excited about it. We had talked about doing a post on Google Reader and RSS feeds in general to help people understand what they were, how they worked, and ...

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Turbo Charge Your Productivity with Daily Digital To Do Lists In Evernote

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Turbo Charge Your Productivity with Daily Digital To Do Lists In Evernote

Are to do lists really useful? Do they help us or hurt us? I suppose the safe answer is that like anything in life if we use them properly they can be useful. Melissa Galt recently put out a blog post in which she offered a tip for how to break up you to do lists into bite sized chunks that you can easily digest and accomplish.

Melissa suggests starting with a piece of legal size notepad paper and then ...

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Introduction To SmartVault

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Introduction To SmartVault

When I recently interviewed Eric Pulaski, CEO and Founder of SmartVault I was blown away by what SmartVault can do.

I have used and still do use several file sharing services including Drop Box, ShareFile, and Google Drive. ShareFile is expensive and I have been looking for an alternative to it for some time. The key to ShareFile for me was that I was able to have a branded login portal through which I could send and receive files ...

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How to efile your 1099s at the Last Possible Minute

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How to efile your 1099s at the Last Possible Minute

I have to be honest. I have always hated doing 1099s. There has never been an efficient way to do this and since it only comes up once/year you really don’t get to.practice at it and find newer and better ways to get it done more efficiently. I hate wasting time chasing down mindless details, rerunning reports to make sure everything is showing up and then trying to fjgure out what is wrong when it doesn’t work.

Then there are those ...

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Music At Work – The New MySpace

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Music At Work – The New MySpace

“Singing is a trick to get people to listen to music for longer than they would ordinarily.”

-David Byrne, Talking Heads

What do you think? Please post your comments below.

Ever since I was a kid, I have loved to listen to music. When I was in high school, I was known for walking around with my Walkman and headset. Every opportunity I got, I was listening to something—even when I went to sleep. Thinking back, I can remember many songs ...

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What Is A Mind Map?

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What Is A Mind Map?

The best way to learn and retain information is based on the way YOU think!

Please post your comments, questions, and suggestions below!

Try The Brain Here:

Think Faster Work Smarter

It’s that time again when everybody is thinking. We’re thinking about how to wrap up last year and we’re thinking about the year to come. If only you could create a map of your mind to keep track of all of your ideas! With so many goals in so many areas, ...

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Modeling Health Insurance Costs For Small Business In MS Excel

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Modeling Health Insurance Costs For Small Business In MS Excel

Many people tell me that getting focused on the accounting in their small business is about as exciting as dental surgery. My response is that what they are really saying is that succeeding in your business is as exciting as dental surgery and if that’s the case then you should close the doors to your business and get a 9-5 job before you do a lot of financial damage to yourself and your family. I am not saying that every ...

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