The Small Business Tax Help Blog

Posts Tagged ‘budget’

Question: Please suggest a topic for my project, please, I beg you all:)?

Please help. Give me some ideas for my culminating activity, please:)?
For my culminating activity, I am to prepare for the following scenario: you are applying for a student grant given to students who wish to start up their own summer business.

Your culminating activity is made up of the following:

A two page report outlining the details of your summer business. Include information about the name of your business, the type of business, and the details about the business (What is the purpose of the business? What is your target market? What materials/inventory do you need to get started? How much money do you require for startup? Where is the business located? How many people will be working? How much money do you expect to earn during the summer? etc.etc.). Include appropriate charts/graphs, for example showing your projected revenues and expenses.

Answer: I think that I would go with Lawn Care.
Name of business -(insert your name) Lawn Care
Type of business-basic lawn care, pull weeds, mow lawn, rake leaves, plant flowers, ect
Purpose of the business- is affordable lawn care for the person who is too busy to get to it themselves
Target Market- homeowners
What materials/inventory you need-rake, hoe, shovel, work gloves, old clothes, work shoes/boots, weed wacker, lawn mower push/rider, wheel barrel, ect
How much money do you require for startup? Depends do you have these items if not go to store and write down the price of items and list this in your report.
Where is the business located? State where you are willing to go to do this lawn care…..ie 20 mile radius from your house.
How many people will be working? Yourself or maybe you and a friend?
How much money do you expect to earn during the summer? I would say that you could probably earn 500 for the summer.
Your expenses would be gas and if you had to purchase any equipment
In your report I would attach a sample flyer that you would post around the neighborhood ie store, park, gas station, hand out to friends and family give to parents to hand out at work. I would include your prices on the flyer.
Hope this helps.

BTN’s 2011 Corporate Travel Index

Average 2010 negotiated corporate hotel rates and January 2011 food prices each softened a bit from the previous year’s levels, allowing business travelers some expense-report relief before potential price hikes take hold, according to Business Travel News’ 2011 Corporate Travel Index, the annual examination of the daily costs to stay in a hotel, eat three meals and rent a car in 200 U.S. and …

Nuskin Business Scam or Opportunity?

Question: I use my personal bank account for my business often (even though I have a business account)?

…How do I record those expenses from a personal account for business use in QuickBooks Simple Start? Should I add a new bank account, or record everything in my business checking register and just indicate it was owners equity? I normally track all personal account business expenses with an excel spreadsheet-so I have two sets of books–which is confusing at times. How should I correct this?

Answer: Each time you use your personal account to pay for a business expense, you should record it as a loan from owner, a liability the business owes to you. When you reimburse yourself from the business account, the loan is debited. Recording it as owners’ equity is not a good idea.

Small business adviser | Keeping cash flow in control

Question: My business earned a profit of $25,000 in 2010, but I have no money in the bank. How can that be? Answer: Your question addresses the difference between profit and cash flow. Understanding these two financial concepts is critical to running a successful business.

Summarizing budget data with a PivotTable: Excel 2007 Creating Business Budgets from lynda.com

Question: Is there a Mac version of Excel?

I have a Apple Mac computer less than a year old. It didn’t come with word and Excel. It has Apple software, but I don’t know much about it. There are lots of applications on here but I have no idea what they do. Is there a Mac equivalent to Excel that may already be on my Mac? Or is there a free program I can download somewhere? I just need a simple spreadsheet that will add up the accounts for my business if I put in my sales and expenses each day. At the moment I write them in a book and use a calculator and it takes ages.

Answer: You can try Open Office or Neo Office, which are free, or buy MS Office for Mac. The latest version is Office 2008.

Steps to improve finances in 2011

The holiday trim has been packed away. The parties are over. That New Year’s resolution to lose 10 pounds? Abandoned. It’s not too late, however, to resolve to improve financial health in 2011. We’re not talking about run-of-the-mill resolutions.

Business Plans : How to Write a Budget for a Business Proposal

Question: Is there a simple program/spreadsheet to enter previous business records into?

I had a lot of trouble with my accounting software the past two years and it’s a mess. I tried to use Quick books but it is a pain trying to enter old records into as it really wants to manage your accounts. Is there a simple program or spreadsheet that I can get that will just allow me to enter my deposits and expense (within a category) for two accounts that would be acceptable according to IRS guidelines? I appreciate your help while I try to clean up this mess.
Unfortunately it hasn’t been profitable since 2007. Actually trying to clean up the mess…..

Answer: PRESUMING YOU have a profitable biz, why bother with all that?
hire a PT accountant or take all your data to a CPA;
i have other friends who started doing what you are doing and
when they realized the time invested/wasted, they chose
to pay for all of that and sold more goods and services every time
they THOUGHT of handling the accounting.

EcoSys Renames Flagship Planning and Cost Controls Software to EcoSys EPC

EcoSys, the industry leader in planning and cost controls software, has renamed its web-based enterprise solution to EcoSys EPC. The new name will better communicate EcoSys’ planning and cost controls expertise in industries including Oil & Gas, Utilities, Engineering & Construction, Information Technology, and Government.

Big EZ Books Business Edition – Basic bookkeeping spreadsheet software for a small business

Question: ACCOUNTING HELP..A General Ledger for month 1 to 31st march is being made?

where do dese go

6.Depreciation. A standard depreciation amount of $350.00 for Equipment, Furniture & Fittings and Motor Vehicle is applied each month so that the monthly and year-to-date profit figures are more accurate. This amount is posted as a Debit to Depreciation Expense and a Credit to Accumulated Depreciation.
7.Cash At Bank. A download of the bank statement showed that all cash receipts and payments had been processed. One item not yet accounted for was Bank Charges of $28.00. GST is not charged on this item.
8.The owner, James Hing, drew out $1000 in March from the business for personal expenses.
9.Entries for Depreciation and Drawings are made through the General Journal and worksheet.

END OF MONTH ADJUSTMENTS or DURING THE MONTH and CLOSING

for more details on the assignment go2

http://dayalaman.250free.com/ICCAcctAssignment_a06.htm

Answer: 6) Debit the Depreciation expense by $350 and credit the Accumulated depreciation also by $350.
7)Credit the cash at bank account by $28.
Debit the drawings account by $1000

Wajahat Ali: Fighting Wells Fargo and Foreclosure

Could it be that the best chance to save a young family from foreclosure is a 28-year-old Pakistani American playwright/attorney who learned bankruptcy law on the internet?

(Personal Finance Budgeting) – GET YOUR FREE SOFTWARE HERE