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940 Quickbooks Annual Payment

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I have run across this problem this year and last, so I though a post would be nice, since I could not find help anywhere in QuickBooks support.  Also I was on hold with QuickBooks for 46 minutes to get an answer.

The problem was that the Federal Unemployment is withheld for each quarter, but the payment is only due once per year.  I wanted to combine those payments into one, but there was another problem.  My state has borrowed money from the federal government in order to pay their unemployment.  So when I printed out my annual 940 form there was an adjustment for “credit reduction”.

That sounded like a good thing to me, a Credit Reduction.  But in fact it is an additional charge.

So I go into QuickBooks to print the check for the year, except it only lets me print the four checks one at a time, and the total amount does not reflect the “credit reduction”.

So after waiting 46 minutes on hold, I got the answer.  First I need to make the adjustment for my state being fiscally irresponsible, and borrowing money it hasn’t repaid.  (By the way, I asked the IRS if I would get this money back, once the state repaid the loan.  They said no.)  Big surprise.

So to make the adjustment do these steps.

  • Click on employees, payroll taxes and liabilities, adjust payroll liabilities
  • Put in the date for 12/31/__
  • This will be a company adjustment and the item name will be “federal unemployment”
  • Enter the amount for the credit reduction
  • In the memo field, enter “credit reduction”
  • Click “Ok”

That takes care of step number one.  Now we need to combine the payments into one check.  This is how you do that:

  • Now click on “related payment activities” in the employee payroll center.
  • Then click on “create custom liability payments”
  • Make sure the dates are from January 1st to December 31st of the reporting year
  • Then Click “Ok”
  • Put a check mark on “federal unemployment”
  • Now you should be able to print and create one check for the proper amount.

Thanks QuickBooks and the IRS for this information.  It only took 2 hours to get.

I hope this helps at least one person.  Good Luck!!

940 Quickbooks

 

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What Are Your New Year’s Resolutions as a Business Owner?

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New Year’s Resolutions as a Business Owner

Here are a few of the top resolution suggestions for small business owners. (mashable and fox business news.)

  • Go Mobile. If you haven’t yet you must. By 2015, more U.S. Internet users will access the web through mobile devices than through PCs.
  • Delegate. Give up control of administrative tasks to others and you’ll free up time for what  will keep you in business. Bringing in revenue.
  • REFRESH your website.  Any referrals and links that bring people to your website should bring them to current and engaging content.
  • Find one new way to get in touch with customers.( Blogging, Facebook, Coupons). Try to be where your customers are.
  • Make planning a weekly habit and set a budget for your plan.
  • Grow and evolve your products and services.
  • Get your books ready for tax time early.  
  • Don’t procrastinate.
  • Go Local.  Make sure your business has updated local listings on key search engines like Google PlacesBing maps, and Yahoo maps.
  • Keep yourself motivated and inspired and reward yourself for new milestones reached.

This may seem like a lot but set small goals and you will eventually get it done.

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Healthy Living Uncategorized

Eating Healthy

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Did you know that one cup of cooked spinach has more protein than Meatloaf? spinach2It’s almost twice as much. And according to Dr. Fuhrman, the author of “Eat To Live”, broccoli has twice as much protein as steak, per 100 calories .  If you want to lose weight forever, eat only high nutrient foods.  You can eat all you want and maintain a healthy weight.  With most diets you are hungry all the time.  By eating high nutrient foods, you will eat a much higher volume of food, thereby curbing your hunger.

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SEO Uncategorized Weekly Tips

It’s Time to Consider Mobile Marketing

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If you haven’t thought about mobile websites and mobile marketing, now is the time. 

Mobile internet usage is only going to increase and is expected to overtake desktop internet usage in the next year or two.  Here are are some mobile stats I found online.

One half of all local searches are performed on mobile devices.

Global mobile traffic now represents roughly 13% of Internet traffic.

There is a huge growth rate in mobile traffic across the world especially in Asia which had an increase of 192% between 2010 and 2012.

 29% of mobile users are open to scanning a mobile tag to get coupons.

1 in 5 smartphone users scan product barcodes, and nearly 1 in 8 compare prices on their phone while in a store

From April to September in 2011, mobile email opens increased 34%, while webmail and PC opens decreased by 11% and 9.5%, respectively.

Will these stats encourage you to invest in mobile marketing?  They should.

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How to Handle Unhappy Customers

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All businesses need to know how to handle unhappy customers.  Every business will have them. There is no cookie cutter approach for handling dissatisfied customers.  Here are a few fundamentals that may help.  Knowing what to say and how to say it may save the relationship.

I. Listen actively to their problem or complaint.

2. Try not to interrupt.

3. Do your best to understand express empathy and apologize.

4. If you know what will fix the problem offer a solution.  If you are not sure what the solution is ask the customer what you can do to make them happy.  If it’s doable, take action as soon as possible and follow up in a few days to make sure they are happen with the resolution.  You can even go above and beyond and send a hand written note or give a gift certificate or great discount.

5. If there is absolutely nothing that will make the customer happy, remain polite and professional. Apologize that things didn’t work out as they would have liked.  Offer a refund or partial refund if possible and move on.

Remember, your most unhappy customers are your greatest source of learning. (Bill Gates )  Use this valuable feedback from the customer and continue working on improving your business practices.

 

 

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What MotivatesYou?

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Running a business in today’s economy on a good day can be a tiring and stressful venture.  On a bad day it can be even harder.  It’s easy to get overwhelmed if you don’t find ways to stay motivated. What motivates you?  Is it just the fact that you love what you do? Do you read daily motivational quotes?

This question: How do you stay motivated everyday was asked of the community members on Manta.com.  Here are some comments in response to that question. The number one answer seems to be

1. “Being my own boss motivates me.

Other motivators:

2.  “I look at my kids. That’s all the motivation I need.”

3.  “I think of all the people whose lives will be positively impacted by what I do.  How I can help the community.”

4.  “I love what I do and am motivated by others who love what they do and are successful. “

5.  “I read my mission statement which reminds me of my goals and purpose.”

6.  “I attend motivational seminars or view podcasts.”

7.  “I pray for guidance and encouragement.”

Whatever your motivation, each day is a new chance to get it right, to be stronger and better.  Make sure you find your motivation and have the courage to continue.  Yes, running a business can be a roller coaster but when the roller coaster goes down it has to go up again.  That uphill ride can be exciting and rewarding so here is a quote to get you started.

“Many of life’s failures are people who did not realize how close they were to success when they gave up ”  Thomas Edison

 

 

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Why Do I Need SEO?

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SEOSEO is the acronym for Search Engine Optimization.  Every website needs this as it is the proven way to help get your business found online in organic searches.  It is just not enough to have a nice looking website and have it live on the internet.  With SEO you get more visibility, which means more visitors and more prospects.  If your competitors are spending time and money on SEO and you are not, you are going to get lost in the crowd.

If you ask different people what is the most important part of SEO you will get many different opinions.  There is On page optimization which  includes keywords, meta tags,  page title,  content, including text, video, and images.  Off page optimization may include  link building, press releases, directory submissions, forums and blogs.  To make your site search engine friendly both of these techniques should be used.  One thing is for certain. SEO along with social media will give you the best chance of  increasing your exposure.

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