Random Tax News You can Use
Extended personal tax due dates for 2020 IRS: Federal tax returns (1040) are now due on Monday, May 17th. IRS: If you are normally required to pay 1st quarter estimated taxes for the current year (2021) on April 15th, …
Author: Alan Phillips
Taxes and COVID-19
We do not usually write articles about tax issues, but we recently found some noteworthy articles related to taxes, the pandemic, and COVID-19, for you to think about. These are all courtesy of the “Accounting Today” Daily Briefing, to which …
Need to write a “one-off” check? here’s how
Occasionally you may have to write a check to pay a bill and will probably never have to write a check to that particular company or person again. We call this a “one-off” check, and It is not really necessary …
Finding a Key Performance Indicator (KPI) to Measure Your Business
Every business owner has some way to measure the growth and success of their business. My father-in-law was a commercial and industrial movie producer. I asked him what he considered a key performance indicator (KPI) that measured the health of …
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Sage 50 2020 is available for download
Sage 50 2020 was made available to current Sage BusinessCare subscribers on July 17, 2019, via a download notification from within the Sage 50 application (Select Services, Check for Updates from the top-level menu to find this download). We recommend …
Closing the Year in Sage 50: Some items to consider
Many of our clients generate their tax and financial reports on a calendar year basis. With that in mind, here are some year-end accounting items that should be reviewed as the calendar year draws to a close. These same points …
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Period End Closing in Sage 50: A Checklist
There is no formal period end closing in Sage 50 within an open fiscal year. There are, however, several important steps that we recommend all users should complete before issuing and filing financial statements for that period. Proper period end closing …
Using a Modern General Ledger
In a recent white paper “The 10 Essentials of an Effective Financial Solution”, the first point identified as essential in the paper is a “modern general ledger”. Let’s see how Sage 50 meets this criteria. Premise: The modern general ledger (G/L) …
Sage 50 Global Options – Part 1
Sage 50 Global Options are accessed from the top menu bar. This item contains often overlooked choices for various application configuration options that span multiple Sage 50 company databases (hence the term “Global” for this menu choice). The “Global” menu choice on the Options menu …
Financial Reporting A-B-C’s in Sage 50
Most business people today are familiar with the two standard financial statements: Balance Sheet and Income Statement. But there is a third meaningful statement available in your Sage 50 software: the Cash Flow Statement.