Going Paperless with the Xero Inbox
Your Xero Inbox: Did you know it is true, you can be paperless! You do not need to store a shoebox, or files full of receipts anymore!
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Shopify New Management for Xero Integration
IMPORTANT UPDATE: July 2017 Shopify to Xero Integration is under New Management [info ]Mgmt: BOLD APPS for Shopify to Xero integration[/info]
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Q&A What reports should I run each month?
Robin from Flourish and Thrive Academy asked us: Q: What Reports should be running each month? A: There are 3 main monthly reports you should review. We call these your key Management Reports. Action Step: Run the following Reports and analyze each line and how they relate to each other. Doing this regularly will help…
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Disconnect Credit Card from Facebook Account
Brooke asks, Q: I’ve seen a lot of people getting hacked on FB and I’m scared it’s going to release my credit card info. I tried to cancel payment and I’m not sure how to disconnect my credit card from these socials? Any idea?
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Q & A : Shopify and Xero
Brandy asks: Q: I am in the process of setting up our Shopify POS. I’ve had two sales on it. Is there anything I need to do to document these sales or are they all going to be registered on Shopify? Can I run reports for retail/shop sales in Xero or do I need to…
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NAICS Code for the Jeweler that does Manufacturing, Wholesale and Retail
Ever filled out a tax form and wondered what the heck an NAICS (North American Industry Classification System) code was? Here are instructions on how to select the right NAICS code as a jeweler that manufactures a finished product and sells both wholesale and retail.
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Q & A : Owner’s Equity and Taxes
Shera asks: Q: So the owner’s draw doesn’t have any tax consequences like a salary would, correct? A: Correct – the owner’s draw account does not have any tax consequences like a salary. As a Sole Proprietorship or single member LLC (seen as the same as a Sole proprietor to the IRS), the Net Income (the…
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Q & A : Owner’s Draw #1
Sherie asks: Q: Before realizing I should have been putting everything to owner’s investment, I repaid our joint account for approximately $2500 last year. I wouldn’t have if I had used my personal account, but this wasn’t all my money! Can I just do an owner’s draw? Or would I have to set up and…
