Used by Contractors, Service-Based Businesses & Accounting Students
Don’t Delay, Learn Cash Basis Accounting in
4 to 6 Hours
Cash Basis Accounting For Quickbooks is the only book on the market that can teach small business owners cash basis secrets to help you manage their finances, save thousands of dollars, and meet important tax deadlines. Business owners like you can avoid IRS audits, late fees, or last-minute accounting fees. This book is intended to be used with most desktop versions of Quickbooks, to include Pro, Premiere and Enterprise versions.
“I'm so happy I found this book. My law firm uses Quickbooks, we do a good job with it, but we don't do a GREAT job with it. There are so many features to Quickbooks and so many ways to do something that works but we just knew there had to be a better way. This books clarifies the process and teaches how to maximize the result and minimize the effort by simplifying everything. This book will pay for itself many times over in just one month! The author is clear, concise, and absolutely an expert. I've already recommended this book to other service providers and contractors that I know.”
“Hi Mike, I just finished your Quickbooks manual. Took me 4 hours 10 minutes. It was a great refresher, (I had taken a QB’s 6 week course previously but that was over 10 years ago) and I did learn quite a bit of ‘new stuff’ as well. Thanks for suggesting it. Great explanations, simple to follow, a valuable tool to keep nearby as I do my year-ends for my small business!”
“Mike Russell has been such a delight to work with. He makes the entire taxpaying process so easy for me as a small business owner. He helped me find write-offs that I had overlooked and walked me through the entire process step by step. I never have and never will use anyone else!”
Genevieve Yang – Jeweler
“After years of struggling with Quickbooks I asked Mike Russell to step in and set me up properly. Mike met with me beforehand to assess my needs. He then set up a custom system with categories unique to my business. At last, my income and expenditures finally makes sense to me. This helps my bottom line. I highly recommend Mike for anyone experiencing accounting system challenges. He truly is a wise owl and delightful to work with.”
Buffie Harris, designorbit.com
“This book proved invaluable for my consulting business. It guided me, step-by-step, with screenshots, through the process of setting up Quickbooks and performing typical accounting functions. Chock-full of good advice I wouldn't have considered asking. This book saved me a lot of time and headaches. I have already recommended to friends in the service industry.”
Save Time & Money
Our book is a step-by-step, humorously written bookkeeping manual designed to help business owners who have fallen behind and need an easy, affordable way to catch up and stay current so they can file their taxes on time and save money on outside accounting fees. For students of accounting, it teaches you that Cash Basis Accounting is the foundation of accounting and should be learned before attempting the more complicated accrual method.
Topics Covered in the Book
- Customizing a Chart of Accounts for your specific company needs
- Reconciling bank & credit card accounts each month
- Make money performing this work as a side gig
- Identify company overhead for more accurate bidding and profits
- Organizing & recording an entire year or years of business transactions
- Being a bookkeeper for a contractor or any other service-based business
- Recording payrolls from an outside service
- How to track and report specific job costs
Easy Quickbooks Tutoring for Everyone
Whether you’re managing your own business, learning the foundations of accounting, or just want to strengthen your skills to offer bookkeeping services, our Quickbooks lessons can help.
- Learn the ins-and-outs of cash basis accounting via Quickbooks
- Conduct your own business accounting without the pressures of outsourcing
- Record debit card and ATM transactions, payroll, and business expenses
- Update accounting records using easier cash basis accounting method
Service Based Businesses
- Save money each year by doing bookkeeping in-house
- Get caught up on Quickbooks accounting as quickly and easily as possible
- Separate direct job costs from company overhead for accounting purposes
- Develop valuable bookkeeping skills to prevent falling behind in the future
Business Students & Professors
- Discuss the ways real-life business accounting works in its simplest form
- Learn how to bring a business that has fallen behind in bookkeeping up to speed
- Explore the differences between cash basis accounting and accrual accounting
- Learn tricks of the trade from premier accountants with decades of experience
What are the primary differences between cash basis accounting and accrual accounting?
Cash basis accounting is used more widely across the world because it corresponds to the same method most small to medium size businesses file their tax returns. Accrual accounting is more complicated and exact, and better fit for large businesses. Also, cash basis accounting is especially useful for businesses which are behind in bookkeeping. Accrual accounting is a more appropriate option for businesses which are already up-to-date with their bookkeeping.Learn More
Do I have to record Accounts Receivable & Accounts Payable on the cash basis method of accounting?
No, this is what makes the cash basis method much easier. We only record income when we receive it and expenses when we pay them.
Are there any expenses that can be written off my taxes on the cash basis method that I actually don’t have to pay in order to receive the benefit?
Yes, Payroll taxes and anything that you charge on your credit cards before the end of the year.Learn More
Can I buy vehicles or equipment on the cash basis method and still receive the Section 179 bonus depreciation write-offs on my tax return?
Yes, you can even wait until the last day of the year and either make a small down payment or no down payment at all. As long as you enter into a contract by the end of the year.
If Accounts Receivable & Accounts Payable don’t get recorded using the cash basis method, then these accounts won’t show up on the Balance Sheet. Are there any other typical accrual accounts that still do show up on the Balance Sheet using the cash basis method?
Yes. Notes Payable, Payroll Taxes Payable and Sales Tax Payable are all typical accrual accounts that would still show up on a cash basis Balance Sheet.Learn More
If I am a year or more behind with recording my business bookkeeping, which method of accounting should I use to get caught up?
You should use the cash basis method of accounting, because it’s more straight forward. You only have to record cash in and cash out, for the most part. You do not have to concern yourself with recording all the accruals. It takes a lot less time and effort and you will have the information required to file your tax returns on the cash basis of accounting.
Important Tax Deadlines
Deadline for corporate tax returns
Extended Deadline for corporate tax returns
Final deadline to file corporate tax returns