Over the years, I have met many people, many of whom are very successful, who lack self-confidence and self-esteem because they do not have a college degree. I call this the Scarecrow Effect. You remember the Scarecrow in “The Wizard of Oz.” He felt he was not smart. He even sang a song called “If I Only Had a Brain.”…
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Ask the Accountant… Question: Do I need account numbers in addition to account names? If so, are there particular numbers? Answer: I like using account numbers with account names for accounts in the chart of accounts (COA) because it makes it easier to distinguish one account from another more readily, as some account names are…
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QuickBooks Online (QBO) is one of several options from QuickBooks. It is very different from QB Premier or Enterprise, which are more robust and better suit our industry. For instance, QBO does not have customer sales orders, which are pivotal in QB Premier and Enterprise. That being said…
Read MoreA mid-year business review isn’t always convenient or fun, but the benefits are crystal clear. It can help bring incomplete marketing projects to life, ditch activities that don’t work and improve internal processes. If you want to perform such review for your company, here are the six steps we follow…
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Ask the Accountant… Question: What report will tell me what orders are in progress with suppliers? Answer: Open purchase orders in QB Premier are orders that have been submitted to suppliers and are in production. Once you receive the invoice from the supplier, you adjust the purchase order to match the supplier invoice exactly, and…
Read MoreThroughout the years, I have seen talented salespeople enter this industry with an eye on becoming a million-dollar producer. They work hard early on, have some customer wins, and see their sales increase. By years two and three, they become much smarter regarding the nuances of this industry. They see sales continue to progressively grow,…
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Ask the Accountant… Question: How can I find out if and when I emailed an invoice to a client out of QB Premier? Answer: QuickBooks has a nice feature on its invoices called “See History.” It is a button on the top left of the invoice template just to the right of the word “Invoice.”…
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You have all heard the saying, “Money doesn’t grow on trees.” We all get that. But what no one tells you is where money does grow. The truth is that money grows in “other people’s pockets.” So how do you get your share of money in “other people’s pockets”? Relationships. I have said for decades…
Read MoreConsidering the promo distributor business is a B2B, account-based type of business, as a distributor, your time is best spent on LinkedIn. While there are many people teaching how to use LinkedIn to get more business, few are talking about the great benefits of LinkedIn Company Pages…
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I have said many times that there is no excuse for not making $500,000 per year in this industry, whether you are a business owner or a sales rep. Time is money. You heard it before. But do you really believe it? Do you really treat time like money? Think about it this way. Let’s say…
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