South Jersey executives are passionate about their businesses and work life, and some are just as enthusiastic — if not more — about what they do outside of the office, but don’t get the chance to go into detail about it. We thought it would be fun for three local executives to talk about their secondary passion, how they discovered it and how they are able to overlap it in some ways with their business. READ MORE
Understanding Accounting Basics
Step one to improved QuickBooks efficiency.
QuickBooks and other similar systems are invaluable. They help businesses pay bills, invoice clients, reconcile bank accounts and so much more. However no matter how integral a role they play, it is equally important for business owners to have at least a basic understanding of accounting practices and principles.
Is single-entry or double entry accounting better? What is the difference between cash and accrual basis? How do balance sheets and profit & loss statements differ? Add to these questions a new vocabulary with words like amortization, depreciation and chart of accounts to name a few. It is often not enough to rely on others to manage the system. A basic knowledge of how things work ensures data is being processed correctly and helps one manage their books accurately and efficiently.
VIA provides two (2) one-hour programs to help:
- Basic Accounting for QuickBooks: Learn the purpose of the accounting system and the accounting cycle
- Accounting for QuickBooks: Understand the use of a double entry method to classify, record and reconcile transactions
Ready to get started?
Charitable Contribution Strategies
We all know the 2018 tax law changes were significant and some of the
most sweeping in past decades. One such change impacted charitable
giving ~ something that had many nonprofit organizations worried.
Why? Many financial experts and nonprofits feared donors would view
it more beneficial to forego itemized deductions, which includes those contributions to charity.
Good news! This fear did not come to fruition. With the use of tax advisor recommendations, donors could take advantage of other charitable contribution strategies to include appreciated investments, IRAs and even increasing their gift amounts. Therefore one-time worried organizations have sighed relief and have a more positive outlook for the year ahead.
For questions about your personal giving and tax deduction options, please ask one of our professionals.
Defining Success One Case A Time
Most people enjoy a good story. If it ends well, even better. In business, many of best successes are told through case studies ~ a thorough and investigative analysis of a particular issue and the road to the best possible resolution. Examples of such illustrations are vast and virtually unlimited ~ it could be a company facing bankruptcy, a product launch into a new market or a new employee seeking to reach his or her full potential. Despite the any number of issues, successful resolutions are often a team effort. The NOW! Financial Network believes strongly in bringing together the right group of experts and takes a team-based approach to turning a case study into a real life success story.