The BStore Blog

QuickBooks 2017 R8 and printing your 1099’s

Intuit has released QuickBooks 2017 R8, which is available via automatic updates. You can also go to the QuickBooks Update site to download the patch.

…if you are filing 1099’s right now, or if you use Capital One Bank, you probably should install this update right away.

QuickBooks 1099 Compliance

This release updates QuickBooks 2017 to the latest 1099 Compliance changes from the IRS for tax filing. It includes support for a new functionality in the 1099-Misc forms printing wizard in the Vendor Center to allow you to enter State tax withheld and Payer’s State ID with verification for two states, Wisconsin and New Jersey. Currently this is not stored in the database, it will only be entered in the wizard for immediate printing. Intuit says that in an upcoming release, these form elements will also be saved in the company file for later use.

Source: QuickBooks 2017 R8 – Practical QuickBooks

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The common issue lurking in staffers’ expense reports: How much are you losing?

Now may be a good time to review your company’s expense-report management process.

Why? When you think of that 8%-12% of your company’s total budget that goes to T&E, you think about all those hotel stays, airline flights, etc. But there’s something else that’s sneakily jacking up those costs every day. And no one needs to step outside your company’s four walls for it to happen.

So what is this stealth cash drain? Expense report errors.

One in five reports contains at least one error. The price to catch and correct a single error isn’t cheap:

  • $52, along with
  • 18 minutes of A/P staffer time.

Those estimates come from the Global Business Travel Association.

And while it may not seem like a big deal for your people to correct an error here and there, it adds up fast.

Take heart: There are strategies you can lean on to send errors on a one-way trip out of your company.

Source: The common issue lurking in staffers’ expense reports: How much are you losing?

‘Tis the (Filing) Season – Time for W2s and 1099 Reporting

Every year-end brings with it not just the holiday spirit, but also the underlying dread felt by small business owners – a creepy and back-of-your-neck hair-raising feeling associated with annual Every year-end brings with it not just the holiday spirit, but also the underlying dread felt by small business owners – a creepy and back-of-your-neck hair-raising feeling associated with annual business tax reporting and filing. That old saying about “death and taxes” has a lot of validity to it; sometimes they feel like the same thing to a small business owner. And this is the filing season. Ho ho ho.

Source: ‘Tis the (Filing) Season – Time for W2s and 1099 Reporting

Top Money Habits of Highly Successful Small Business Owners (infographic) | Invoice2go

TOP MONEY HABITS OF HIGHLY SUCCESSFUL SMALL BUSINESS OWNERS (INFOGRAPHIC)

Siobhan Ashleigh | Nov 1, 2017

Do you have good money habits as a small business owner? Are you doing everything you can to be in control of your finances, and to be financially fit?

We thought it would be interesting to collect advice from the true experts in the space – the accountants, tax professionals and finance experts who work with small business owners every day.

Specifically, we asked about the top money habits of their most successful clients.

They gave us some great tips and words of wisdom around setting up good business practices, staying on top of cash flow, and in general – how to think about small business finances.

Source: Top Money Habits of Highly Successful Small Business Owners (infographic) | Invoice2go