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Hi. My name is Terry, and I'm the President of Quicksilver Accounting & Consulting,  Wilmington NC.

I created this blog to offer little hints, ideas, strategies and sometimes just silly excerpts from life to help other entrepreneurs gain insight.

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Written in Wilmington, NC

Friday
Aug102012

I just called to say I love you...

ADP published an interesting survey taken by the Accounting Today Executive Research Council in June 2012 of 1500 online panelists.

The subject:  What is the most effective ways to communicate proactively with your clients. 

Even though it was a survey for accountants, I believe this information can be used by many different types of companies to promote client relationships.  Are you doing any of these?

At the top: Placing a phone call -unconnected to scheduled work-  39%.

See the rest of the survey

Sunday
Jul082012

It's official... Sitting Disease

I ran across an interesting article in Bloomberg Business Week that just confirms what I knew- that sitting in a chair at the office for hours on end was not healthy.  What accountant can't relate to this?  Now there is an official name for it;  Sitting Disease. Office workers unite-  get out of your chair every hour- go chat to your co-worker, or take a short stroll down the hall, get up and move!   Read more...

 

http://www.businessweek.com/articles/2012-06-28/kill-your-desk-chair-and-start-standing

Wednesday
Feb152012

Could this happen in your state too?

Lately states are looking in all directions for revenue because they have lost so many Federal dollars. I read an article from Bloomberg Businessweek  (February 19 edition) about a program in Italy that they have been using to increase tax dollars. Could it be long before you see it here as well?

It seems Italy's police have been stopping people who have very high end cars.  They aren't really concerned if they had a traffic violation- no- what they want is your registration with name and address.  They feed this back to the government to find out if the owners have declared enough income to justify their lifestyle and its been reaping rewards.  What next?  Hope they don't check out my Rolex- it was a gift!

Now you know, there are some pretty nice cars traveling our byways...

so I'm just saying its possible here as well..  

Tuesday
Feb142012

$17.6 billion...wow

I was quite amazed when reading an article today in Bloomberg Businessweek that $17.6 billion is expected to be spent on Valentines Day this year.  Yesterday I heard a quote that the average $ per person breaks out to $119.  My husband thought that was high, but I reminded him that many get engaged on this day- so the diamonds are pushing us all up the totem pole.  

I have been truly blessed to have loved ones who care enough about me to send me beautiful flowers, cards, chocolates and dinner last night (before the crowds).

There are many small businesses that depend on these type of events to bring a large portion of their yearly income- and for those companies who work so hard to bring us this happiness, I truly commend them and hope that their take of the $17.6 billion is everything they need to continue.  It's been hard for some of these smaller companies in the last few years- so think local when you are purchasing candy for your love one, please use the local florist, spa's, restaurants, etc.   They need our business.

 

Sunday
Dec182011

New IRS mileage rate

The new mileage rate has been published for 2012 by the IRS .  The amount will be 55.5 starting January 1.    If you use QuickBooks, why not track your expenses for mileage this year in the program? Here is how:

First, set up a 'dummy' customer called "Terrys Mileage" (insert your name) for yourself unless you will be  job costing per client.

Go to the Company file and open the 'Enter Vehicle Mileage' window. Open the Mileage rates window at the top, enter 0101/2012 and put in the new rate.  Your all set now.

When you drive, keep your records and come back to QuickBooks either every week, or once a month.

Open the Enter Vehicle Mileage, enter your vehicle (add new will show the first time) and continue with the form.  You don't have to put in the odometer reading if you would rather not- you can put in the dates and the total miles driven and then tie it to "Terrys Mileage" for the customer (unless of course you really would like to enter per client... Add any notes and click Save and Close.

When you are ready to run your report, go to the Report Center under Jobs, Time and Mileage and run your report for Mileage Summary or Detail,etc.  for the dates you would like.   It will tally all your entries per vehicle for you there. This is a great tool for year end tax - no more having to add up columns trying to figure out what you did all year!