Internal Fraud Prevention

How to Prevent Internal Fraud We see it in the newspapers every few months: “This great little business just got taken for tens of thousands of dollars by an employee/ contractor/ friend/ family member.” “We trusted them implicitly.  They were like family.” “We feel so betrayed.” Internal fraud happens to small businesses every day, but it does not have to …

External Fraud Prevention

There are many different facets to the fraud issue for businesses.  Check out this article from Legal Shield of 8 Ways To Protect Your Business From Fraud. It is important to note that the eight concerns they list are mostly related to external fraud.  The 8 protections that Legal Shield lists are: Loan Scams – The basic rule of thumb …

Demystifying PayPal

At our office we get a lot of similar questions, and when we see a pattern of something people commonly struggle with, we like to offer extra help.  We have been getting a lot of questions regarding how to handle business PayPal accounts, so don’t worry, you are far from alone in your confusion.  Read this blog to get some …

January – 1099 and W2 Filing

Happy New Year from Polymath! We hope that the last year has been a great year for you, and we would love to be part of your strategy to make this year even better. January is our busiest month here at Polymath. We are going to be working hard to ensure that 1099’s and W-2’s are sent out on time …

Top 5 Reasons to Switch to QuickBooks Online

You may have noticed that we talk about QuickBooks Online quite a bit.  We are fully aware that this is not the only bookkeeping software out there but it is our favorite and the one that we recommend to the majority of our clients.  So, why should you switch to QuickBooks Online for your business? It can seem scary sometimes …

Employee Holiday Gifts – Done the Right Way

Giving Your Employee Holiday Gifts It is getting to be that time of year once again and as a business owner you are considering the best way to show your appreciation to your amazing staff.  That is wonderful, and we never discourage appreciation, but make sure that you do it right and account for everything correctly in your books.  Things …

Death of a Sole Proprietor

Dear Polymath Readers, I want to share a story with you that I hope can help you as you make decisions about your business. This summer, I had a friend pass away.  She had her own business and was the Sole Proprietor.  Death is a funny thing; it really makes you learn a lot about bureaucracy and people.  Going back …

QuickBooks Online – Change Payee on Multiple Transactions

Added Feature Allows User to Change Payee on Multiple Transactions When looking at your downloaded transactions have you ever wanted to enter a payee and a category for more than one transaction?  Well, QuickBooks’ most recent update has enhanced the modify feature to give you the ability to do just that.  If you are already using this tool to update multiple categories, …

QuickBooks Updated – Add Bank Description to Memo

 New feature lets you add the bank description to the memo QuickBooks Online is listening to their customers and making regular updates based on feedback.  A recent update that we are very excited about is a feature where you can turn on a setting and have QuickBooks Online automatically copy the downloaded bank description into the memo line of a transaction. …

Troubleshooting Emailing QuickBooks Invoices

Hey QuickBooks fans!  We’ve been noticing ourselves and receiving reports from our clients that when emailing QuickBooks invoices and reports from within QuickBooks Online the emails have been getting caught in spam filters.  This issue is because an update was made so that when emailing QuickBooks invoices they are being sent with a return address of donotreply@intuit.com rather than the sender’s actual …