New QuickBooks Online Features: 24-Hour Direct Deposit, QuickBooks Capital and 1099 Contractor Convenience

As you may know, Intuit is always looking to enhance your experience – and your business – through the power of QuickBooks Online (QBO). And, by being in the cloud, you’ll never have to upgrade or load in a new version of QBO.

Here are some of the latest features:

24-Hour Direct Deposit

Setting up payroll days in advance can be challenging and stressful, especially when you’re low on cash flow. That’s now a thing of the past with 24-Hour Direct Deposit in QuickBooks Online Payroll and QuickBooks Full Service Payroll.

That’s right – you can now enjoy one-day processing to submit your payroll – and this feature is free! This means you can compensate employees faster, have cash on hand for an additional day, and experience the flexibility and control of running payroll when and how you want it.

It’s a win-win for you and your staff. Click here to learn more.

QuickBooks Capital

Need to hire more staff or purchase more inventory? Another new feature to hit QBO is QuickBooks Capital. Now, within QBO, small businesses can apply for loans to get more money to grow their businesses.

You simply fill out an online publication, and in minutes, you are done. Then, in 2-3 short days, you will get the decision, and if approved, you can receive up to $35,000.

For more information, click here.

1099 Contractor Convenience 

You may have heard of the Latin phrase omne trium perfectum that says everything in three is perfect. I’m going to second that in this case.

The third new feature within QBO is all about 1099 contractor convenience. Now, contractors can set up QuickBooks faster, while employees can deliver 1099s much easier through QuickBooks, without all the paper. This puts the power and control in your hands, which in turn makes it easier for Sound Business Services come tax time.

Don’t have time, or maybe you’re on QuickBooks Desktop? No need to worry! We offer electronic filings of 1099s and can set it up for you. We use Track1099, which handles both QBO and QuickBooks Desktop.

You Can’t Do It Alone – We are Here to Help

While Intuit makes everything easy and convenient for you, our help and expertise is key to getting you the best solutions when and how you need them. Otherwise, you are facing some very complex issues and spending way too much time away from doing what you do best: running your business and pleasing your customers.

So, whether you are already experiencing QBO, feel ready to take the plunge or simply are using QuickBooks Desktop, we are here for you. Contact us today to learn more about these features and many others, and you’ll be on your way to growing your business and improving your work/life balance.

Make 2018 Great With These New Year’s Resolutions

Happy New Year!

As we settle back into our businesses from the holidays – hopefully feeling relaxed and rejuvenated – it’s time to shift to 2018 and making this our best year ever.

That means taking the good from 2017 and building upon it, as well as learning from the mistakes and challenges to become stronger, both personally and professionally. This also means looking to the One in Whom “… we live and move and have our being,” and seeking His direction and blessing upon the new year.

As you know, managing or running a business is a tall order. A new year brings more expectations and demand, and without practical planning, smart strategies and certain tools in place, your business will suffer and never reach its full potential.

Here are some New Year’s Resolutions for 2018 that all of us can aim for to take our businesses to the next level and have a terrific year:

I Will Work on Being a Better Leader

Running a successful business requires us to be great leaders. This certainly doesn’t happen overnight, and demands a lot of our time and attention.

Being a great leader means knowing when to delegate. In our businesses, we often want to do everything ourselves to make sure it’s done to our satisfaction, but this is not only unhealthy, it’s unrealistic. You must build the team you want and train them properly to carry out tasks in the way you see fit because everything your employees do is a reflection on you and your business.

In growing your team, it’s important to find people who will go the extra mile to please your customers and represent your business the right way. Finding these people is a challenge, but retaining them for the long haul may be even harder. So, work on your communications and make sure they know how much you appreciate and value your team. This can be a simple thank you by email or in person.

I Will be a Goal-Setter

Setting goals is always important, but especially in business. Our business goals must be realistic and attainable. Otherwise, we will just be drifting along and not reach our full potential.

Realistic and reachable goals require an action that we can consistently work on to achieve. For example, “I will get X more clients in 2018,” or “I will increase sales by 20 percent this month by offering a 5 percent discount to key customers.”

These are goals you can strategically meet through proactive planning and hard work. When – not if – you hit your goals, your vision and action will pay off and take your business to the next level.

I Will Give Back to the Community

As you may know, I’m passionate about living out my faith, striving to do the right thing and investing in others. That’s why giving back to the community is so important to me.

Show your goodwill by serving on a committee, mentoring someone, volunteering or donating to a special group that makes a difference in someone’s life. Helping make this world a better place should be understood, but we are often too wrapped up in our own lives to step aside and take the time to work toward a greater cause – one bigger than ourselves. Jesus set the ultimate example of giving back as indicated in Matthew 20:28: “Even as the Son of Man came not to be served but to serve, and to give his life as a ransom for many.”

I Will Work on My Business

We are always working in our businesses, but if we don’t take the time to step back and work on our businesses, our business’s future and potential will be very limited.

That’s why it is so crucial to invest in your company’s future. Do you need to improve your technology by updating your hardware and software? For example, do you have the latest version of QuickBooks or, better yet, do you want to convert to QuickBooks Online? Should you dive into social media, create or improve your website, or blog about current trends or issues? Your digital presence and image is so important these days, so not doing these things will lead to your competition surpassing you and your business suffering as a result.

Perhaps, spend more time in front of your customers and clients. Email and phone are great ways to facilitate communication and save time, but there’s still nothing like face to face. It’s the best way to build trust and credibility, providing the opportunity to take your customer/client relationship to the next level.

So, set aside time each day – maybe 15-30 minutes – to truly work on your business. Be committed to the strategies you choose and practice them regularly.

I Will Work on Understanding and Capitalizing Cash Flow

As business owners, we often overlook cash flow or simply don’t understand it. But, keeping good books and knowing what numbers mean are two keys to business success. In other words, you must know if you are truly making money; not just what’s in your bank account.

That requires discovering trends in your data and knowing what they mean, and making correct adjustments and assessments. It’s about determining the reason behind spikes and downturns, and acting upon them.

This may seem overwhelming and time consuming, but don’t worry because we are here to help! As your trusted advisor, we are responsible for not only protecting your most sensitive information, but also using it to transform your business. That means studying your data, taking actionable steps and providing you with real solutions to ignite business growth and success.

Let us know if you want us to take a look at your current situation, and determine what you can do to take those steps and reach your full potential.

I Will Work on My Work/Life Balance

As business owners, we often have so much responsibility and monetary investment that we neglect work/life balance. Doing so takes a huge toll on you personally and professionally.

The blood, sweat and tears that we pour into our businesses should never go away, as it’s our livelihood. But, we must also not let it compromise those things that truly matter most – our health, our family and where we will spend eternity.

That same passion and care we put into our businesses must also be applied to our personal lives, as we will never get that precious time back. Missing your son’s basketball game or your daughter’s piano recital may seem harmless, but over time, it can really add up and lead to regret.

Create ways to be with the people you love and spend that much-needed time together. That may mean exercising some of the other New Year’s Resolutions above by delegating work and setting goals.

Whatever route you choose, it will lead to a better life for you, and not hurt your business, if planned properly.

Make 2018 the Best Year Yet!

If we apply these New Year’s Resolutions, I believe we will all experience substantial growth in our businesses and our personal lives in 2018. I would love to get your feedback on these, as well as some of your own New Year’s Resolutions. Contact us today with your input!