Accounting for Jewelers is celebrating its remarkable 10-year anniversary today. As we look back on a decade of accomplishments, growth, and partnership, it’s an opportune time to reflect on the incredible journey that has brought this company to where it stands today. From humble beginnings to becoming a trusted name in jewelry accounting, let’s delve...Read More

PAYROLL PROTECTION PROGRAMGreat News! The PPP Forgiveness has changed thanks to the PP Flexibility Act that passed into law last Friday.We’ve been boggled with calculations previously, and now it is all much simpler.Here are the revised Guidelines:24 weeks to use the funds instead of 8.until Dec 31 to return to Feb 15 headcount, instead of...Read More

The Jewelers Board of Trade (JBT) has partnered with Mariel Diaz, founder and Managing Director of Accounting for Jewelers, to offer two free financial educational webinars: “Understanding Financial Statements” and “How to Develop an Annual Budget”. All registrants will receive a recording and accompanying worksheets. • Understanding Financial Statements, October 16, 2018, 2:00 – 3:00 pm EST...Read More

The Changes in Sales Tax Laws You Should Know as an Out of State Seller Welcome to the evolution of Nexus. Having a physical presence in a state is no longer the only thing that dictates if you are required to collect and remit a state’s sales tax as an out of state seller. Economic...Read More

Q:  How can I show a Net Profit and owe on Credit Cards (and / or Loans)? I had to pay tax on my Net Profit, but I don’t even have that cash in the bank to pay off debt. A:  Explanation of how you can show a Net Profit, while having debt: Taxes don’t...Read More

Michelle Asks: Q. Do I have to offer the 2/10 Net 30 discount?  Is it expected? And should I include penalties if paid after 30 days?  I’d like to be paid a deposit with the balance paid within 30 days of product receipt.Read More

You probably already know that if you are self-employed, then you are to pay self employment estimated taxes to the IRS each quarter, right? But you may think you have to mail in the remittance slip that came with your filed return for the prior year, and you can, but that’s not the easiest and...Read More

Why Accounting for Jewelers prefers Xero over any version of QuickBooks… For the first 17 years I did bookkeeping, I never loved the actual programs. I enjoyed the purpose of organization and reporting outcomes, but the process was a chore. Xero Accounting Software changed my world. It was the missing key that made everything understandable...Read More

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...Read More