Life of E's

Question: What is the difference between a book keeper and an accountant? I know that Heather (of Champion Assistants) is going to help me set up Quickbooks properly and begin the process of entering the financial information, teaching me things along the way. So, besides the tax form filing for the yearly taxes, what am [...]

Tags: accountant, bookkeeper, Champion Assistants, CPA, Quickbooks, taxes

Question: When schools (or school districts) purchase products or hire me to do workshops, they are tax exempt, correct?  I’m sure it is a good idea (and maybe required by law) to have their tax exempt information.  Is this correct?  If so, how do you go about getting that information and where do you file [...]

Tags: Quickbooks, tax exempt

Question: A principal wants to order some of my booklets and use a purchase order. He wants to know if I accept purchase orders and the specifics for ordering this way. I’ve never accepted purchase orders before. How do I go about this and what do I tell him that he needs to do? Also, [...]

Tags: payment, PO, purchase order, Quickbooks

Question: How do I pay myself? Let me explain:  For accounting purposes, I would like to deposit all the money I make from my services and products into my business checking account.  However, I will need some of this money to pay my personal bills.  What is the best way to do this? I know [...]

Tags: accounting, employee, incorporated, officer, paycheck, Quickbooks, QuickBooksPro, S-Corp