January 2015 - Luxa | Tulsa Payroll Services

Small Business Bookkeeping Tips: Payroll Entry

on Jan 29, 2015 8:09 AM

Small business accounting advice for payroll entry activities As payroll specialists we always want to ensure that employees are compensated accurately – the first time around. With so much time spent on gathering data, inputting time, and processing – who wants to spend time doing it all over due to simple…

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Topics: Best practices| Payroll

Small Business Bookkeeping Tips: Expense Tracking

TEAM LUXA

on Jan 26, 2015 4:00 AM

Creating and tracking customer invoices in your bookkeeping tasks Some of our clients ask us about different bookkeeping practices that we have experience in managing. One particular question we get is “What things do I need to include when creating a customer invoice?” Being efficient at this may seem basic and…

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Topics: Best practices

Outsourcing Facts That Might Surprise You

TEAM LUXA

on Jan 22, 2015 10:19 AM

How outsourcing in Oklahoma can help the local business owner Maybe you have heard the term “outsourcing” but do you know it’s history in the U.S.? The press and media have used outsourcing to describe “off-shoring” activities big business use to drive local work to foreign labor markets. However, outsourcing is…

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Small Business Bookkeeping Tips: Recording Transactions

TEAM LUXA

on Jan 22, 2015 4:50 AM

Bookkeeping tips to identiy how often to record transactions Entrepreneurs are often focused on day-to-day operations and would rather avoid getting caught up in the monotony of recording detailed sales, purchases or other business related transactions. In addition, the frequency of recording transactions or quantity may seem to be burdensome at…

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Topics: Best practices

Small Business Bookkeeping Tips: Annual Profit & Loss Estimates

TEAM LUXA

on Jan 20, 2015 7:00 AM

Bookkeeping tips on measurment Often times, business leaders need to make decisions that will impact their bottom line. How strong is my reserve, what are inventory levels like, and what expenses are overloading the budget? To know how to answer these questions your business bookkeeping must be accurate. (more…)

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Topics: Forecasting

Small Business Bookkeeping Tips: Expense Tracking and Receipts

TEAM LUXA

on Jan 15, 2015 10:00 AM

Bookkeeping tips on how long to keep receipts Many business owners ask how long they should hold on to their business records. The easiest answer is seven years. Because the IRS can audit your records for up to six years after you file a tax return, a generally accepted time to…

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Topics: Best practices

Bookkeeping Tips: How Often To Look At Aged Receivables

TEAM LUXA

on Jan 13, 2015 12:32 PM

Basic accounting for checking your aged receivables How often do you find you are celebrating your sales victories only to find out later that some of these accounts haven’t paid their 1st invoice or they are paying late? It is not uncommon for business owners to focus their attention on…

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Topics: Best practices| Collection practices

How To Create Marketing Goals For Small Business Owners

TEAM LUXA

on Jan 12, 2015 3:07 AM

How effective can goal setting be? Are you stuck in the process of planning out your marketing strategy 2015? Many small business owners realize that marketing is going to take time and a lot of planning. You might have some great ideas on how to promote your next product or service…

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Small Business Bookkeeping Tips: Handling Large Volumes of Cash

TEAM LUXA

on Jan 10, 2015 11:53 AM

Bookkeeping advice for small businesses owners In today’s business world, most companies no longer deal with large cash transactions. They either use electronic banking, lockbox or checks. However, in some industries, cash transactions may still occur: re-sale of used equipment, used cars, restaurants and such. (more…)

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Topics: Best practices

Small Business Bookkeeping Tips: Mixing personal & business expenses?

TEAM LUXA

on Jan 8, 2015 1:28 AM

Bookkeeping Advice for Small Business Expenses Running and owning your own business is not a skill they teach in high school or even college, for that matter. Mixing your personal and business expenses happens to nearly every client we talk to that consider getting help with their bookkeeping tasks. You…