Welcome to the month of July. We are done with the first half of the year and started the countdown to the remaining half of the year. Our Newsletter for this month is on an integral part of every business; an area that is generally misunderstood by most business owners, but interestingly plays an important role in every organization. Have you taken time to look at your Cash flow Statement? Can you tell where Funds are disbursed in your Business? Do you understand the effect of your Spendings? The art of struggling to understand and manage your cash flow can be a huge distraction to your business; in this series, we will be providing you with quick tips on the basic method of understanding your cash flow. Our Areas of Concentration will be on: - Definition of Cash Flow - Drivers of Cash Flow in a Business - Facts about Cash Flow - Quick Tips on Understanding your Cash flow and applying it to your Business. - Managing your Cash Flow effectively. What is Cash Flow? Cash Flowis the movement of money into or out of a business, project or financial product, and can be measured at any specified period of time. The Following are the drivers of Cash flow in a Business: Accounts Receivables (These are money owed to a Business by its customer, as a result of services provided or goods sold). Inventory. Accounts Payables (These are Vendor Payments, owed to vendors, for goods bought/services received on credit). Capital Expenditures(Purchase of Equipments) Borrowings/Debt Servicing. It is worthy to note that your Cash Flow originates from 3 Basic Operations: a) Cash Flow from Operations b) Cash Flow from Investing c) Cash flow from Financing Most Business Owners have problems with Understanding their Cash Flow because of the following facts: a) A Profit or Loss in a Business does not equal Cash Flow. b) An Increase in Cash in your Business is not always good. c) A Decrease in Cash is not always bad. Many Business Owners have problems understanding and interpreting their Cash flow, because of the technicalities involved; but I want to challenge you today, to take the simple test below, write down your answers and put it into practice, and watch your business grow; I bet you will be so thankful for this enlightenment: Focus on the TOP 3 changes in your Cash for the Month. Decide whether each change is good or bad. Write one line description of each change and look at the effect, it has on your Business. Once you are able to prove the effect of the change in your Business, hold on to the result and use it as a base, in your Decision making. By doing this exercise periodically, you will have a better grasp of your cash flow, and see its effect on your Business growth.  I will like you to try this exercise and forward your feedbacks. In my next article, I will be giving you tips on how to effectively manage your Cash flow in your Business. Please feel free to contact us, if you will need further help in understanding your Cash flow and producing your Cash Flow Report. We will love to help you. Remember: The best time to take control of your Cash Flow is RIGHT NOW.

REVISIT YOUR GOALS: This coming year,2013,it will do you good to think about your how you want your life to be,set your own agenda  and learn how to make your life better. Think about what floats your boat, then take ACTION to make your dreams a reality. My dear, you will be glad,you did. HERES WISHING YOU A HAPPY NEW YEAR AND A PROSPEROUS 2013.

It is important for every business owner to have an effective accounting system in place, so that they can increase their efficiency and manage their finances effectively. When a client comes to us in need of Bookkeeping /Accounting Services, it is noticed that most of the time,many of the business owners do not have an accounting system in place and this puts their businesses and finance in a great mess. An  accounting System is the basis of a good business and goes a long way, in showing how the business can handle its profits,manage its expenses, handle its payroll and invariably increase its net worth. We always advise our clients, to get QuickBooks, to handle their accounting/bookkeeping records. QuickBooks is a set of accounting software solution that is designed to manage payroll, inventory, sales,purchases, invoices, receipts and other needs of a small business. It is usually tailored to meet the needs of every different industries and business types. We always encourage our Clients to use Quick Books and if they cannot afford it; we can set up their company QuickBooks file on our system, and prepare their reports and send in electronic files to them, to view, their company financial position. We will go ahead to list a few reasons,why you should use QuickBooks for your Business Accounting Software: QuickBooks can be customized to work, whichever way, you desire. It is specifically designed to be flexible and adaptable to a wide range of businesses. In addition,Quick Books have customized accounting packages for all industry typesincluding the ones for Contractors, Retailers, Health Care Professionals, Non-Profit Organizations, Real Estate Industries and several others. We also advise our clients on the suitable type of QuickBooks to use for their business and invariably help them in setting up the Software,to suit their Business type. QuickBooks has been proven to be stable, reliable and consistent with using the best accounting practices, to produce financial statements, which most companies use to make business decisions that will move their companies forward. With Quick Books,you can make forecasts and budget projections, which are necessary tools if you want to move your business forward. You can contact us for more details regarding these business tools, and how to use it to work for your Business. You can grow your business with QuickBooks. QuickBooks will help you design a business plan to use while trying to secure a small business loan or line of credit, and also planning for the future. This software can create a projected Balance Sheet,Profit & Loss Statement and statement of cash flows in the formatrecommended by the U.S. Small Business Administration. The Use of QuickBooks can save you time on Bookkeeping and paperwork, because many of the simple Bookkeeping tasks are handled automatically in QuickBooks, thereby making it easier to run your business effortlessly. We have seen clients that tried doing their Bookkeeping on Microsoft Excel, and gone through so many headaches,to clear or balance an account item,after spending long hours without any solution; With QuickBooks, you do not have to exert as much effort and you are sure of getting immediate results and a reconciled account, which shows up immediately. You can create your Company Invoices with QuickBooks, as well as your receipts, and send them via email to your customers, rather than using a Microsoft template,that you always have to edit, which may lead to several errors and repetitions.With QuickBooks, once you create an invoice, it is synchronized with your accounting system. QuickBooks enables you to view your Accounts Payable(Vendors) and your Accounts Receivables (customers) without stress, and this will give you a clearer picture of how to handle your vendors and customers effectively. With QuickBooks, you can easily generate reports you need information on, so that you will always know where your business stands. As a business owner, you need to know whether you are making money or not, or whether your business is healthy or profitable. If you need to know further on how to use QuickBooks to perform this function, we are always available to train you, and show you the multiple ways, that you can generate over 100 reports on QuickBooks, which will invariably move your business forward. Every Business owner wants to get paid for their services and will also need a faster means of payments to improve the company cash flow; With QuickBooks Online Payments,you can e-mail an invoice or statement, through which your customer can easily pay you with a credit card or bank account transfer. This is really a great feature,because you do not have to wait for the check in the mail anymore. QuickBooks encourages paying your bills online, by setting up your current bank account on QuickBooks; you are ready to pay your bills without licking any envelopes or printing paper checks. You can even pay anyone from your credit card companies to your pizza service. In addition, the Online Banking feature lets you download your monthly statement from your participating bank directly into QuickBooks for easier reconciliation. Do you know that you can set up your liability accounts like Loans, Notes Payables,Credit Cards and Line of Credits on QuickBooks? Once this is done, you will be able to know your monthly balances, and see your principal and interest payments every month; doing this takes off so much stress than having to wait for the statements from your Bank ,or paying the extra charges, that will be required,in the event that you loose any of the statements. Payroll can be done via QuickBooks, this saves our client a lot of stress and money, because it will eliminate your dependence on payroll companies to prepare your payroll; and you get to see the number of hours, that your employees have worked in total for each pay period, in addition to the net amount that they are due,after tax liabilities. You are also in control of your Company Tax liabilities and payments. These are just a few of the reasons for using QuickBooks Accounting Software for your Bookkeeping services; we have found out that most business owners always underutilize a lot of the QuickBooks features, either because of ignorance or lack of training. You can always contact us to train you on how to best utilize your QuickBooks Software.We offer various QuickBooks services at very affordable rates. Our  QuickBooks Services include: -         QuickBooks Setup -         QuickBooks Personalized & Group Training -         QuickBooks Supervision/Review -         QuickBooks Support -         QuickBooks Tune Up -         QuickBooks Cleanup -         And many more It is always important to make the best use of your QuickBooks software in order to get the best financial reports for your business. Using QuickBooks Accounting Software is a smart and affordable way to get a handle on your books. Accurate records enhance educated decisions for your business and will save you money. WHY DON’T YOU CALL US TODAY ON 202-422-4586 to schedule an appointment; so that we can show you the best way to use your QuickBooks Software, and if you do not have one, DON’T WORRY, We can always purchase one for you or set up your QuickBooks Company file on our system and send you regular reports, so that you can manage your business effectively and make great business decisions. Please also feel free to fill out our contact form, so that we can get in touch with you to respond to your needs. We will love to help you.

Wow, it’s March already, and I bet that many of us have started receiving those tax refunds in the mail. For some of us, it’s not that much,while for some of us, it’s a whole lot of Big Money. Whichever category, you are in; remember that you need a good plan for your money. The important thing is that many of us have started planning on how to spend it; but I have these tips for those of us that want to give the refund a PURPOSE, because if you don't do this, you will find out that you have nothing to show for your refund at the end of it all. Here are some tips about what to do with your Tax Refund Money: Start (Add to) an emergency fund: It is always good to set some money aside for a rainy day. It is good to start off this fund with your Tax Refund, because if you decide to store that much, away from your regular paycheck or income, it will take you months or even years to make a significant deposit in your emergency fund. Pay down a Debt: If you have a lot of debt like credit card debt, title loans, car notes, student loans, hospital bills, payday loans amongst others, this will be a great time to put your refund to work by paying off these debts and eliminating your debts. You will discover that you will have so much peace of mind when you do this, and peace of mind goes a long way in keeping up a good health. Invest It: You can invest your Tax Refund in yourself, your business, your children or your family. Investing in yourself can be in form of getting an education, career training or personal improvement; you can also give your family a treat and splurge a little bit, but don't over indulge. Refinance your Mortgage or Make Home Improvements: When you refinance your mortgage, you will still pay closing costs and fees, use your refund to pay for the closing costs, and you will save thousands of dollars per year on mortgage interest. If you are happy with your mortgage rate, take a look around your house, to see how you can improve your home with some energy saving appliances. Remember that it is good to spend money now to save for later. Give to a Charitable Cause: Giving some of your Refund to a worthy charity is a great idea, more so when that donation is tax deductible, everybody wins. For some people, giving to charitable organizations is non-negotiable, but on a tight budget, donations can unfortunately go down to the bottom of a list, but you have to note that contributing to charity is an excellent use of capital and provides a huge spiritual and societal benefit. Start your Own Business: Perhaps, you have been looking for seed money to start off your long desired Business or take it to the next level; you can use your refund to get you moving in the right direction. It is a great opportunity to turn your refund into income for years to come and get a few more small business tax deductions next year too. Put it into an IRA or workplace retirement Account: Using your refund to get a head start on Roth IRA contributions is a great move, it can let your three-digit tax refund grow into a four digit addition over the course of the years, in addition, it is like using your refund to create a tax deduction. Create your own food bank: We know that it is cheaper to cook your meals than eating out, but the problem, might be the need to stock up on Food Supplies, many people struggle to find money to build this up, when they are living from paycheck to paycheck, but this is the best time to change, and stock up your home with food (both perishable and non-perishable).You will be surprised at how much savings, you will make and for many months to come, you would not have to think of eating out or buying food stuffs. Improve your Health: This is the best time to schedule that appointment to see your Doctor, Optometrist, Dentist or Physical Therapist, many people have been putting off these appointments during the past couple of years due to employment or insurance problems; perhaps you should use some of your refund to improve your health. Fix Your Car/Buy a New One: This is the best time to take your car for a Car Service, if you have not done that in a while, or alternatively even get another car, if your previous one has been giving you problems, you will be glad you did, because every time, you drive in it, you will remember that you used your refund to get it or put your car in that great condition. Pay up your Bills in Advance: There are so many bills, that we all pay from month to month, including our mortgages, insurances, child care expenses, utility bills and telephone bills; Instead of thinking of how we can scale through paying these bills as each month is approaching, we can pay up a couple of months ahead, so that we can relax and use the free funds from the following month for whatever we want to do. This sounds great right? Establish a Financial Strategy: Do you realize that working with a financial adviser can help you manage your tax refund and show you areas, of investing it and how to get great returns from your investment, You can always call on us at ROSYAN BOOKKEEPING SERVICES to show you how to manage your refund and get your ultimate returns on investments. Please feel free to let us know how you have spent your tax refund or how you intend to spend your tax refund, and we can also advise you on how to make the most from it. For those of us ,that are not getting refunds, how do you ensure that you are ready to write that check to IRS on tax day? CALL US TODAY ON 202.422.4586.You will be glad you did.

Do you know that Inputting checks, managing bank accounts and creating reports doesn't have to be an intimidating process? Wow,we have entered the second month of the year 2013, and I know that so far, it has been a great and fantastic season for us. For most people in the States,this is a period of tax preparation and filings, for both individuals andorganizations. We should know by now, that having a good bookkeeping system is essential to having a successful and smooth tax filing season. I know from experience, that some small-business owners view bookkeeping as a burdensome task that takes them away from running their business. It makes others nervous, and they may second-guess their knowledge and skills in fear of the Internal Revenue Service knocking on their door. I want to let you know that, you don’t have to be intimidated or bored by accounting or Bookkeeping. Successful business owners don’t view bookkeeping negatively. They have adopted a few basic procedures to stay on top of the paperwork. By doing so, they save time, money and a lot of stress. I have listed below the basic steps to gain control of your business bookkeeping tasks: 1.    Use accounting software such as QuickBooks: QuickBooks is a set of software solutions, designed to manage payroll, inventory, sales and other needs of a small business. Each package is developed according to different industries and their needs. The great thing about QuickBooks is the fact that it combines a variety of accounting processes into one user-friendly system, and this is why it is highly recommended. You have to become at least generally familiar with theQuickBooks software, this includes basic knowledge like knowing how to input checks, enter vendors and customers, reconcile bank accounts, and create reports and other data. Once, you have this in place, you can choose one of these different ways to maintain it: Do it yourself: You can take a class on the software or alternatively, CALL ON US for a one on one training at a great rate; We can also help you to set up your QuickBooks Chart of Accounts; once this is done, you can dedicate time each week to input information and reconcile bank statements. Please note that if you fall behind on inputting transactions, it can be difficult to catch up. This is when most people throw bank statements and receipts into a box and procrastinate. If this happens, don’t worry, you can still call on us to help you sort out your data, input your transactions and prepare your reports. Train and hire a family member to maintain the books. From a supervisory role and internal control system standpoint, it’s still critical to have a basic working knowledge of the software and procedures. We can help train your family member and also provide regular support, when needed, so that you can relax and go on with your business. Hire a local bookkeeper to provide the services you need, and turn the books over to your certified public accountant for planning and tax preparation at the end of the year. A bookkeeper will certainly be more skilled and knowledgeable than you or a family member, and you do not have to pay as much,as you will pay a CPA to do the Job. One smart strategy is to negotiate a fixed monthly fee so you can budget for the service. Engage your Bookkeeper to provide all bookkeeping services, and transfer your tax preparation to your CPA, by doing this, you are putting in place a great check and balance between what your Bookkeeper and CPA are doing. This will also ensure that you are getting most of your tax deductions accurately. 2.   Scan your receipts, business cards and other important paperwork. Some software products import directly into QuickBooks. Utilizing this type of tool will help save time and paper, and help audit-proof your record. 3.  Separate personal accounts from business accounts. Don’t mix the two.Keeping personal and business bank accounts and credit cards separate will make bookkeeping much easier and help maintain your corporate veil if you have a formal entity. 4.  Avoid cash.Instead, use your debit or credit card religiously. When you use cash you lose track of potential write-offs. If you have to pull money out of an ATM, note on the receipt the purpose of the withdrawal. 5.  Go paperless.Storing tax documents for at least six years can be a hassle. Another option is to purchase a small fireproof safe to store important personal documents(passport, life insurance, etc.) along with a regular backup of your bookkeepingsoftware and tax returns saved on a flash drive. For extra data protection,consider off-site physical storage or online data storage for these records and scanned files. 6. Auto-track your mileage. Keeping a written record of all your business, charitable and medical auto mileage can be a pain. Look into a satellite-assisted service, phone application, or software program. 7. Meet with your CPA at least twice annually. Review your business plans, financials, tax deposit amounts, payroll procedures and tax strategies.The cost of taxes is too high to leave your plans to chance. Just a few minutes on a regular basis can save thousands of dollars. Also, remember that your CPA should be bringing you strategies and ideas in these meetings. If the meeting consists of you throwing out ideas and your CPA shooting them down, you have the wrong CPA. Find a planner who is reaching out to you with ideas and strategies on a regular basis. We are available to help you out with your QuickBooks Bookkeeping Services and training,and we also offer other accounting/Bookkeeping services at great rates too. Why don’t you give us a call today and see how we can save you and your business tons of money. Email us for more details on rosyanbookkeepingservices@gmail.com ,we would love to hear from you.

Build up your Personal Balance Sheet Do you know that everyone has a personal Balance Sheet? Just a reminder,A Balance Sheet is a financial "snapshot" of a Business at any given point in time.It shows your assets and liabilities and tells you your business networth.  It is a rule that every Businesss has a Balance Sheet,so also should every individual have a personal Balance Sheet,Our Personal Balance Sheet is defined as our ability to make a difference wherever we are,and this difference creates a value for our personal life. As we gain abilities,our personal Balance Sheet improves and ultimately helps us to reach our goals. For instance,when we find ourselves in a situation,we ought to assess it and jump into it, to make something happen,whether we get credit or not;our Personal Balance Sheet goes up and will make us much more valuable,this indicates that whenever we approach any situation,we should rather consider it as an opportunity for personal growth,and watch our personal balance sheet improve. Finally,as we build our personal abilities to make a difference,we will be rewarded,just as a business balance Sheet shows the value of a business. My Dear Friends,this is the first month of a new year,it is not too late to go out and make a difference in the world and watch your personal value grow.You will greatly be rewarded for this.

It's December already and it's that time of the year,when we close our Books and get ready for the Tax Period. Are you ready for Year End Closings? Do you know what you will need to carry out special Bookkeeping tasks,to see you through this period? Do not worry,We are here to help you,get over the Year End hassles,so that you can be ready for Tax filing on time. We have listed out, Special Bookkeeping tasks,that you need to put in place as you approach year end; once you do this,you are assured of a smooth transition into the new Accounting Year : CHECKING YOUR CUSTOMER ACCOUNTS:As you prepare your Books for the end of the 2012 Accounting Cycle,you will need to review your Customer Accounts.This is done by going through your Accounts Receivables,when you do this,you are monitoring customers that are owing you,so that they can pay you your outstanding balances before the end of he year.This is also a good time to review customer Accounts for possible Bad Debt Expense.In addition,this is the time to be more critical of past due Accounts.Remember,that you can use any Bad Debt to reduce your taxes,so if you believe that a customer is not likely to keep up his promise on a Past due Account,it is advisable to write off the loss. ASSESSING VENDOR ACCOUNTS:The end of 2012 Accounting Period is the perfect time to review your Vendor Accounts,to be sure that they are all paid in full and ready for the new cycle.You also have to ensure that you have entered ino your Vendor Accounts,any bills that reflect your Business Activity  in the period being closed,otherwise expenses from the period may not show up in the appropriate year end financial statements. For instance,Make Sure that you review outstanding Purchase Orders,to be sure that your vendor accounts are not missing orders,that have been completed,but have not been billed in your Books.You have to record the bill in December to reflect the receipt of the inventory during the Tax Year,even if the vendor will not bill you,for that inventory until January. REMOVING INACTIVE ACCOUNTS: The Closing process is a good time to assess all open Accounts and verify that you still need them.If an Account has no transactions in it,you are free to remove it at this time.However,it is advisable to make a list of the Accounts,that you need removed during the year,so that at year end,you will delete all inactive accounts.You have to ensure that there are no transactions entered into any of these Account. PROCESSING 1099S & W-2S FOR VENDORS/STAFFS:At the end of each year end,you must prepare,print and send IRS Form 1099 to your vendors,as well as W-2s to your staffs,not later than January 31st.Use 1099-Misc to report payments made to vendors,who performed business related services for your company.Remember that if total annual payments to the vendor do not equal or exceed $600,you are not required to prepare a form 1099-Misc to that vendor. If your Business takes out a loan,you should have set up long-term liability account to track it,during the year end,you will have to ensure that the payments,that you have been making towards the loan were correctly split between Principal and Interest,so that you are sure of proper and accurate recording. When you purchase Office Equipments,Buildings,Computers,Vehicles or other Assets that have useful lives of more than 1 Year,you will need to add them to your Balance Sheet and record a depreciation of the Assets periodically. RECONCILIATIONS: It is important to ensure that you reconcile all Cash,Loans,Credit Lines and Credit Card Accounts with the Statements and also file and keep Reconciliation Reports. RUN REPORTS: Lastly,you have to ensure that you have an ending inventory Balance for your year end period,obtain your principal balance of loans and interest payments for the year end from your Bank; Get your Bank reconciliation reports and verify their accuracy to the books.Enter adjusting entries as necessary and ensure that the balances on your books corresponds to what you have in your source documents. We know that these tips have helped you and as you are ready to proceed with your year end steps,We are happy to inform you that we are available to help you prepare adequately for Year End and ultimately get you ready for taxes. EMAIL US AT ROSYANBOOKKEEPINGSERVICES@GMAIL.COM OR CALL 202.422.4586 FOR MORE DETAILS. We would love to hear from you.

Reasons why you need bookkeeping services It is significant for a business to have transparent record keeping systems which would make the transaction clear and comprehensible. This article highlights seven factors why we need to keep an effective accounting book. Also you can understand the importance of bookkeeping services by going through this article. It also gives you quick tips about why you needbookkeeping services for your business. 1. Recording the business transaction would help you to monitor the financial success or failure of your business. You probably don’t know where you are going if you didn’t realize where you have been. Hence,understanding the existing scenario of your financial status is much important to achieve the heights and avoid the unexpected loses. An effective financial method provides you the answers to your entire questions about the growth scale. 2. Keeping a record would help you to make future business decisions. Every business decisions have to be finalized by considering the financial consequences happened earlier and the same can be done only if we retain the accounting books properly. Without the precise data and financial information,it is extremely difficult to predict the impact of any given action. 3. Maintaining account books would help you to file the income tax records accurately. Every business entity has to file income tax returns and pay incometaxes. With proper records, it is very easy to prepare the tax returns and filing also can be done on time without any hassles. You will be under/overpaying your taxes,if you fail to maintain proper records of your transactions. 4. Keeping the older transaction would help you to plan the budget for the forthcoming year. Preparing budget would keep you on the safer side and help you to avoid the unwanted expenditure. 5. Keeping good records would help you to prepare payroll tax returns and Sales tax without any hassles. If you are doing a partnership business, you can avoid unwanted issues in profit distribution by retaining your business transactions accurately. 6. You need Bookkeeping services, so that you do not have to burden yourself running your business and taking care of your Accounting Records, a bookkeeper will readily take your data in whatever form, it is (Receipts,Bank Statements, Files, Folders, Debit Notes, Credit Memos)and turn them intofinancial reports and present the information to you in the form, that will help you make great Business Decisions. 7. Finally, retaining bookkeeping services would help you to understand the transactions which are all profitable and the unwanted operating expenses. You can avoid those expenditures and prepare an effective budget to optimize your business financially. Hence, bookkeeping plays an essential role in every business. Outsourcing bookkeeping would really be worthwhile. Why don’t you contact us today to help you with your Bookkeeping Needs? We will take your data and organize, analyze, reconcile and send it backto you in a clean, organized, structured and Accurate Report. You will be glad you did.