The QuickBooks Team Blog

Broken (MS) Window theory

Do you know the Broken Window theory? The infamous Malcom Gladwell discusses this in his book the Tipping Point. But Malcom borried the idea from Fixing Broken Windows: Restoring Order and Reducing Crime in Our Communities by George Kelling and Catherine Coles.

The theory basically says that if you repair a a broken window within a short periiod of time there is less of a chance for vandals to break that window or other windows again. It states that neighborhoods problems do not escalate as quickly.

Well, I am here to tell you about my broken Window's theory. .. which basically states that you don't need Microsoft Office nor Microsoft Windows anymore. I just bought a MAC (yes, I am back with a MAC after being away from one for 10 years), but I could have used Linux. And with my new Mac, I didn't load MS Word or MS Excel. Instead, I can use Google's Docs and Spreadsheets tools. There are a few drawbacks to the product such as I have to be on the Web to use them. But boy oh boy do I feel free. And I am not just saying this because I am an Intuit employee and Microsoft is one of our biggest competitors. Google's product is great for collaborating. I can work on a word processing type of doc and then share it easily with my coworkers and -- when they are editing the doc, I can see when they are editing it so that I don't add something that will override their comments. In fact, our Community team does most of our collaborative work using the Docs and Spreadsheets product.

So, if you are on a really tight budget or you don't want to load a bunch of software on your laptop/desktop, check out Google Docs and Spreadsheets. It is probably too early for Google's product to have a big impact... but it will be increasingly difficult for Microsoft to justify the cost for their product.. and it's raison d'etre.

Their belief/theory that we all need Windows and MS Office has bugs in it.

don't be afraid to fail

As some of you know, I am a New York Yankee fan. Yesterday, Derek Jeter went 5 for 5 in a playoff game. Almost unheard of. 5 times he stepped up to the plate and 5 times he got a hit.

After the game, he was asked the secret to his success (he will also probably be this years MVP) and he said: 'you just can't be afraid to fail.'

Just a morning reminder…… for all of us. Note: It isn't necessary to get a hit everytime you come are at bat! .. and that success can be 'just getting on base' I think some of us who start companies dream of being the next Steve Jobs (yes, I am sharing all my heroes with you today). Instead, just do what you enjoy and know that incremental improvements (just getting on base) can go a long way.

Wilder

Spinash and getting what you want

Spinash is top of mind right now. Users are blogging about it quite a lot. And everyone (well at least in my generation) grew up with Popeye.

I'm Popeye the sailor man
Popeye the sailor man
I'm strong to the finish 'cause I eats me spinach
                     I'm Popeye the sailor man

Since we might not be able to get our (inner and physical) strenght from old reliable sources such as Spinash, it might be necessary to tap new resources ---  So even though we might want spinash even more these days (this usually happens when someone tells you that you can't have what you want.. ....and you know that you can't always get what you need), it is important to lean on your business partners, friends, family and Small Business associations for support. It is also important to tap government funded resources to find out what is going on. Or are you the type that doesn't believe our government sometimes?

By the way. Since we should all be thinking about wrapping up our 2006 financials for our accountants, it might be worth taking a few minutes and reflecting on a discussion Popeye had with a tax man:

The Tax Man: You just docked?
Popeye: I has.
The Tax Man: Ah ha, let's see here, that'll be 25¢ docking tax.
Popeye: What for?
The Tax Man: Where's your sea craft?
Popeye: It ain't no sea craft, it's me dinghy and it's under the wharf.
The Tax Man: Ah ha. ahh-ha. This your goods?
Popeye: They is.
The Tax Man: Yeah. You're new in town right?
Popeye: If you call this a town, yes.
The Tax Man: Well, first of all, there's 17¢ new-in-town tax, and there's 45¢ rowboat-under-the-wharf tax, and one dollar leaving-your-junk-lying-around-the-wharf tax, so all together, you owe the Commodore $1.87.
Popeye: Uh, who's this Commodore?
The Tax Man: Is that the nature of question? There's a nickel question tax.

a Step Up for you guys

There seems to be lots of interesting buzz on the Web about the Google deal. But a lot of folks are missing the other partnership. In fact, it's an acquisition. Intuit acquired a little company called StepUp Commerce, Inc.

StepUp will power the new and exicting QuickBooks Listing Service, which helps Small Businesses get placement on (and their images up loaded to) services such as Google's Froogle.

As you can see, we are trying to help our customers build their own businesses. And after listening to them, it is clear that 'getting new customers' is one of their biggest pain points. Boy can I relate to this. When I had my bookstore I constantly thought about how to drive foot traffic into the store. I tried newspaper ads (those are slowly becoming extinct), flyers, discounts, home delivery (not pizza, just books), etc. And that was a few years ago. Now you have Google -- and everyone is going to Google first to find something. I know that Froogle still has a ways to go, but it's getting there..

70% of local customers (the youz and Iz) are using the Internet to find products and services. They are doing price comparison shopping, doing research etc. (such as seeing what other stores are in the hood)

Payroll! Need I say more?

OK -- I will come clean and say up front that I am highlighting Intuit's different payroll options.  One of the reasons I am doing this is because my friend, Paul, built a great site that highlights all of Intuit's Payroll related goodies.

They include:

• Standard Payroll handles the basics of pay calculations and check printing.
• Enhanced Payroll Plus also helps businesses fill out federal and state tax forms.
• Assisted Payroll Plus includes some outsourced services, such as tax payments.
• Complete Payroll is a full-service package that includes some human resource management.
• Online Payroll processes payroll for QuickBooks Online Edition customers. 
• Direct Deposit, an optional add-on to most other Intuit payroll services, electronically transfers employees' pay directly from your business's bank account to theirs.

As a small biz owner, you have specific payroll responsibilities that are required by government agencies. These agencies can be federal, state or local. Some of these responsibilities include, but are not limited to, withholding amounts from your employees' compensation to cover income tax, social security, Medicare, and other payments. Yes, I know that this all sound a bit like Lions, Tigers and Bears...If does, then we are still on the same page. If it doesn't, here's some additional info on basic payroll 101 stuff.

And if you want to learn more about payroll, maybe you should attend the American Payroll Association Leadership Forum on Payroll Best Practices. It takes place in August 16-18th in Chicago. God, can you believe August is here already.

Deductions!!!

Well, I decided to take a vacation finally, and visit my old bookstore (yes, I do have a little sellers remorse) in East Hampton, New York. And on the way, I decided to stop at a cyber cafe and write about deducting travel expenses.

First of all, here is where you can find all the appropriate forms for deducting business travel. (Do you think I can deduct this trip, even though I already sold the store? :  )

Some potential deductions include:

- Plane, train, cars and other travel expenses from your home's front door to your destination, whether it is to your office or someone elses.

- Gasoline.. even air in your tires

- Bus fares, taxi cab fares, train rides, etc.

- Meals and hotels

- Tips given to the bell hop, the guy at the front desk or the waiter/waitress at a restaurant.

The best advice I can give you is keep track of your expenses!!!! And keep them all in one place. To stick your some of your receipts in your wallet, some in your suitcase and some in your jacket pocket. Those little damn receipts are way too easy to loose.

And my second piece of advice is use a separate credit card from your personal credit card to track your business expenses. That way you get a nice year end summary report of all your expenses.

Well, time for me to get back on the road. I will write more when I reach my destination....

Until then, here's some more tips.

Know thy customer

Cash might be king

but the customer is what makes or breaks your business. So, what can you do take care of you customers?

- Keep track of them -- names, addresses, birthday's etc.

- Use a simple electronic list to keep track of them, such a good POS system or a simple contact manager database

- Don't forget their birthdays (I just got a great interactive bday card from a local bike shop)

- Keep track of your customers who spend the most

- Keep track of customers who have not contacted you in a while

- Integrate their transactions into your financial accounting system.. which can help basic invoicing, cutting checks and more...

What do you recommend to keep track of customers? I am all ears.

Meet Small Business, Tax and QuickBooks Mac Experts

This summer, we have a new member of the team, Shanee Wright, a student from North Carolina Agricultural and Technical State University. She is working on our Small Business Ask The Expert program on our Community Website. Every once in a while, Shanee will be visiting us to let us know what great things are happening with our Ask The Expert Program:

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Find answers to your small business and tax questions, contact an experts below:

• Earle McEwen (Tax expert)
• Mike Block (Tax expert)
• Anita Campbell (internet Small Business Expert)
• Henry Reeves (Accountant and Director of Shenandoah Valley Small Business Development Center.)

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Learn more about QuickBooks for Mac users at one of the links below!

• Expert: Caren Schwartz.
• Experts: Gale Kirsopp & Michele Sacco

    Couldn't find your QuickBooks for Mac questions? Try looking here: more QB for Mac 

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Some helpful sites

Some useful sites.....

1. NOLO.com - good articles for businesses starting out and also some good advice.  Most on staff appear to be lawyers so good place for info to make sure you're covered.  Includes picking/registering business names, obtaining licenses, ownership structures, LLC, selling/buying businesses, etc.
2. www.morebusiness.com - has different templates by industries and other tools for busineses.
3. www.proposalwriter.com/small.html - section for small, minority and women-owned business
4. www.womanowned.com - for women owned businesses.

July 4th and SBOs

Happy July 4th (Since many folks will be leaving tomorrow early for the long weekend), I thought I would jump on line tonight and say that Intuit (Quicken, QuickBooks and Turbo Tax) all salute SBOs (Small Business Organizations) -- the backbone of America.

We support SBO's financial independence!

And... since many of you (Small Business owners) will be working this weekend, know that you are not alone. There are many small businesses out there, working the cash register with you.

Some tips to help you get on track for financial independance:

- write down your financial goals: research has shown that if you write down you goals, you increase the probability of reaching htem.

- put specific amounts of money away each month (again, write down what you will put away)

- continue to do the work you love: this will make it seem as if you have more freedom

- save, save, save (yea, i know that this is not that original)

- put together a budget: it is amazing how we spend money.

- research your state and local tax laws.

- remember -- lots of stuff can be a tax deduction :  )... these include supplies, business cards, gas, phone bills, internet access and more

So again, Intuit salutes Small Businesses and the American Entrepreneurial Spirit! See below.

Fourth of July Websites

Alphabet Soup's Fourth of July
Betsy Ross Home Page"
"Billie's Independence Day Page"
Charlene's 4th of July
Declaration of Independence
Fourth of July Celebration - 20ishParents.com
Fourth of July On The Internet
Cyber Grandma's Independence Day Page
Dazzle's Fourth of July
Family Corner Magazine
"Happy Fourth of July"
The Holiday Spot 4th of July
Independence Collage
Independence Day On The Net
Kidz July 4th Clip Art
Mandy's July 4th Links
Marvelicious Patriotic Background Sets
My Mom Is A Survivor Cookout Recipes
Practical Kitchen 4th of July