Time and time again, we have heard the same old complaint about Payroll. 

"We want to use a reputable service, but they all seem to nickel and dime their clients."

Payroll companies are often accused of using the old bait and switch technique. They  advertise a low rate and then add on charges for W2s, 1099s, Time Tracking and Direct Deposits. You start out thinking that you are saving money and when the invoice comes, you realized that you have forked over more than you expected. In the end, you get a bum deal and the payroll company just shrugs and moves on to the next person. Ouch! That isn't any way to do business. 

At Accountingprose, we take pride in being honest and transparent. This is why we switched from an hourly billing rate to fixed rate bookkeeping. For the Small Business Owner, it just makes sense. You know how much you will spend each month on professional services and budgeting is a no brainer. 

This month we have also updated our fixed rate schedule to include fixed rates for Stand Alone Payroll. We recognize that some business owners already have a bookkeeper or just need a little extra help cutting checks to their employees. So, we came up with pricing that is fair and fixed.

But wait, there's more. Check out our fancy schmancy flyer which details what our fixed rate payroll is all about. 

Ready to take the plunge? Give us a call at 866-477-9708 and let us know how we can help you. 

Click here to Download the Pricing Sheet

Click here to Download the Payroll Flyer

--  
Cristina Garza | Chief Number Cruncher 
cristina@accountingprose.com
530 E. McDowell Rd., Ste 107491, Phoenix, AZ 85004
o. 866-477-9708  |  c. 480-359-6149 | f. 866-611-6989

I had a conversation with a friend the other day about networking. They wondered what I got out of spending so much time with new friends and business associates. To be frank, I thought they were kidding. I mean, I don’t really get anything. Usually, I buy my new associate coffee or a meal and just spend most of my time listening. I don’t give them a sales pitch, I don’t ask for their business and I don’t (usually) leave them with any sales flyers/literature. Instead of getting anything from networking, I do the exact opposite- I give.

I have found that networking is more about generosity rather than gaining any sort of immediate reward. I often hear my new associates’ troubles in the conversation. Maybe they are having a hard time getting health insurance or maybe their website stinks. When I hear these things, I do what comes naturally for me;  I connect them with people I know and trust. I make sure that they have someone they can rely on when the going gets tough. The beauty of networking is that when you need help, all you have to do is extend your hand. If you have built your network properly, there will always be someone there to help you.

So the next time you get invited to a “boring” networking function, go. Try to meet as many interesting people as possible and learn all about them. Find out what makes them happy; learn about their business and then try to connect the dots. Your new friend will be happy to have met you and the cycle will continue. More selfless networking leads to a mindset of abundance vs scarcity; which is a pretty cool place to be.

Interested in networking with us? Join us at:

CoHoots

Local First

Fuerza Local


-- 
Cristina Garza
Owner, Accountingprose

If you are a manufacturer, wholesaler or if you manage a lot of fixed assets, you probably have the same complaint about Quickbooks. It just isn't robust enough to handle your complicated needs. As a wholesaler with multiple warehouses, you want to know how many widgets you have in stock and you need to know where they are located. As a manufacturer, you may want to edit an assembly on the fly. If you handle many fixed assets, you are required to know where your assets are at all times. 

I believe that Fishbowl Inventory will handle all of these issues with ease. Some key features include: 

Multiple Location and Sub Location Tracking- 360 degree view of your inventory and fixed assets. This is great when you are handling a lot of items across multiple warehouses. You can track your inventory down to the bin. 
Barcode Scanning- Effortless, no data entry order fulfillment.
Clean Sweep Order Fulfillment- Fishbowl will guide you through your warehouse in a quick and efficient manner. No running back and forth between aisles, wasting time.
Manufacturing Option Groups- Create custom assemblies on the fly. This feature actually made me smile from ear to ear. 
Daisy Chain Several Bill of Materials- If you require multiple assemblies for your final product, this will act as your build guide.
UPS Integration- Accurately quote shipping for your customers. No more guessing or call backs. 
Quickbooks Reconciliation- No need to enter data twice. At end of your day simply reconcile and all of your revenue and costs will post to your books. 
True Cost Reporting- Apply shipping and handling at the time of item receipt  for more accurate financial statements.
Affordability- Only pay for the licenses you need. 

Check out this video with additional highlights...

As a Quickbooks Pro Advisor it, at first, pained me to know that all of this functionality is not readily available in Quickbooks. However, after considering the "limitations" of the product, I also realize that Quickbooks is not one size fits all. It really is a base accounting program that allows you to customize it for your very specific business needs. If Quickbooks was built with this functionality it would be too robust for the average user and the cost would be multiplied ten-fold. So, integrating add-ons is the best way to create a custom fit product.  

If you have a need for this type of functionality, I implore you to contact Fishbowl, get a customized demo and run a free trial for 14 days. You will see how Fishbowl will save you time, money and headaches. If you are not satisfied with their functionality, let me know. As your trusted advisor I will work directly with Fishbowl to find a solution that fits your needs. I only recommend products I genuinely think are useful for your business. 

--  
Cristina Garza | Chief Number Cruncher 
Accountingprose
530 E. McDowell Rd., Ste 107491, Phoenix, AZ 85004
o. 480-359-6149 | f. 866-611-6989
www.accountingprose.com   

Note: As a small business owner, you are required to maintain timely filings with taxing agencies. This post should be a primer on filing privilege tax in the City of Phoenix- but not the final word. The City is a great resource for information and welcomes your inquiries. Additionally, we are here to help you navigate the world of privilege tax. 

The Basics

Sales Tax vs Privilege Tax

Phoenix does not have sales tax, instead we have a privilege tax for the privilege of doing business with the City. The terms Sales Tax and Privilege Tax are used interchangeably, however.  A privilege tax takes the burden off of the consumer and places it on the business owner. If your business is required to collect "sales" tax from your customers, you are responsible for remitting a sales tax report (based on your gross taxable sales minus deductions) with a payment on a monthly, quarterly or annual basis- depending on your filing requirements. 

Tax Exemption

If you buy products to resell or for use in a project, you may be eligible to purchase products with no sales tax. You must have an Arizona Form 5000 on file with the vendor you are purchasing with in order to receive the benefit of not paying tax. Nonprofits, however, are not eligible to use this form and are required to pay sales tax on all purchases. As a vendor, you should keep this file on file for 6 years in the event you are audited. Be sure that the form is filled out completely and that the contact and entity information are correct. If the business changes locations or entities, the form becomes invalid and you may be subject to the tax that went uncollected. 

A good rule of thumb when deciding whether or not to pay sales tax at the time of purchase is to consider who the final consumer will be. If you are purchasing products as the final consumer, then you should pay tax. If your client will be the final consumer, they should pay tax. If you purchase a product tax free with the intention of reselling it or incorporating it into a project, but then consume it within your business, you should pay use tax on it.  

Use Tax

This may be a little confusing. The difference between sales tax and use tax is sales tax is paid by the seller, but use tax is usually paid by the buyer.  Let's pretend that as an owner you buy inventory tax free because you intend to sell it at a later date. If you pull this inventory item off of your shelves and consume it within your business, you are responsible for paying use tax on it. Here is a fancy pdf about Use Tax. 

Sales Tax Return

If your business is required to collect tax from your customers, you must submit a sales tax report with payment on a monthly, quarterly or annual basis. Timely payers get the benefit of infrequent filing, so remember to file on time.  You may request a change in filing frequency after you have established a minimum of 6 months of reporting history. After you obtain a sales tax license through the city, you will begin to get pre-populated sales tax forms in the mail. You may opt to fill these out and mail them back or e-file. E-filing is a more convenient way to pay and you can submit the form and payment online up to 11:59pm the day the form and payment are due. 

Excess Tax

If you collect more tax from your customers that necessary, you unfortunately do not get to keep it. You must remit it back to all taxing entities (City, State, County if applicable) or the customer (if you can identify them). You and your bookkeeper should double check your Quickbooks file to make sure you have set up your clients and item list properly. For instance, you should not be collecting sales tax for clients that reside in places you don't have nexus in. If you don't have inventory, sales people, or a large amount of clients in the state in which they reside- do not collect sales tax. You may also provide goods and services. You should ensure that you are only collecting sales tax on your goods and not the services. Again, working with a super smart bookkeeper will save you a lot of headaches come tax time. 

Penalties and Interest

If, for some crazy reason, you fail to file and pay on time, you are going to get hit with penalties and interest. In fact, your penalties may be as high as 25% of your total tax due. Don't fret over interest calculations, our friends at the City of Phoenix will do that for you. Just send in your payment and wait for a notice to arrive in the mail. When this arrives, please pay this on time to avoid further charges. 

Credits

Did you get a notice in the mail that says you have a credit on your account? Before spending your new found dough on penny whistles and bubble gum, give the City of Phoenix a call and see why you have a credit. Your account may have been accidentally paid by another taxpayer. If this is the case, once the error is corrected, you may owe the money back. First rule when dealing with credits: Call First!

Factored Tax

Did you make a sale and fail to collect tax? Did you include tax in your final price? Are you a contractor who does not itemize tax on your invoice? Factoring tax might be just what you are looking for. As a contractor, this form is incredibly helpful. If you are factoring tax in any other industry, check this link.

...

As a business owner, you are required to keep your tax filings up to date. Don't wait until the last moment to ask questions- use your resources to get the help you need. Your accountant, bookkeeper and the City of Phoenix are here to help so please reach out when you need us. 

Finally, while this post covered the City of Phoenix, don't forget about other taxing entities. You may owe taxes in other cities or even other states. Your bookkeeper or accountant will help you make sense of your tax filing requirements. 

Important Contact Information 
City of Phoenix- Tax Payer Assistance Program
Christina Schultz 
Phone 602.262.6586, 602.256.4364
Fax 602.534.1995
tax@phoenix.gov

--  
Cristina Garza | Chief Number Cruncher 
Accountingprose
530 E. McDowell Rd., Ste 107491, Phoenix, AZ 85004
o. 480-359-6149 | f. 866-611-6989
www.accountingprose.com    

One of the biggest hurdles to overcome when speaking with new clients is the dreaded "money talk". Since the beginning, I have charged an hourly rate. In this rate I include things like Cloud Hosted Quickbooks, SmartVault Document Management and Business Reply Mailers. I know that as a consumer I don't like little fees tacked on for a product or service. I run my business with total transparency. After a while I had begun to realize that having a competitive hourly rate is great but having a fixed rate for ongoing service is even better. 

So I introduce to you our fixed rate schedule: 

This means that you know up front what your ongoing monthly bookkeeping costs are. There is never a discussion about tracking time and unless you need a more robust version of Quickbooks or added Log-Ins, there are no additional ongoing fees. 

For our clients who require historical write up service (e.g.- you haven't kept the company files current for months or years) we will quote a flat rate to get you  updated and then you will be transitioned into one of the above flat rates. 

We try to make it super simple to work with us and hope that you enjoy this change as much as we do. 

--  
Cristina Garza | Chief Number Cruncher 
Accountingprose
530 E. McDowell Rd., Ste 107491, Phoenix, AZ 85004
o. 480-359-6149 | f. 866-611-6989
www.accountingprose.com