choosing a bookkeeper

Choosing a Bookkeeper for Your Business

Choosing a Bookkeeper What is a Full-Charge Bookkeeper? A Full-Charge Bookkeeper is a liaison between you and your CPA (Certified Public Accountant). Bookkeepers facilitate everything in your day-to-day management accounting routines: accounts-payable, accounts-receivable, data management, account reconciliations, recording journal entries, creating detailed reports, software training, interfacing, and working with your CPA to ensure that your taxes are filed correctly and …

Have You Faced Your YEWU? – Time for Year-End Wrap-Up!

Last year, as I was heading home from the office on New Year’s Eve, a beautiful (and hilarious scene) dropped into my mind. We had been busy facilitating Year-End Wrap-Up appointments for all of our wonderful clients. At Polymath, we loving refer to this process as the YEWU (™). That fateful evening, I realized that the YEWU was also so much …

empower your passion

Empower Your Passion

Picture a world where everyone you know is doing what they love and loving what they do. Empower your passion, and the rewards will follow.

Catalytic Leadership Types

Many of us see leaders only as people who facilitate meetings, speak in front of groups, and manage teams of people. Everyone can be a leader in their own way. There are a lot of different kinds of leadership roles, types, and skills. The key is finding your forte. Being a leader does not mean you have to be on your A-game all of …

Collecting W-9 Forms

What?  I just finished last year’s taxes!  Why would I think about this year’s already?  I’ll worry about that at the beginning of next year. Actually, now is the perfect time to start thinking about your taxes because you know all of the things that made your previous year’s taxes more challenging than they needed to be.  Here is one thing …

To One of My Heroes

I have only known Kaydee Peterson for a couple of years, and in that time she has inspired and helped my firm grow on so many levels. It was Kaydee who mentioned the National Advisor Network to me back in the late summer or early autumn of 2014. She encouraged me to join, saying that it was one of the …

Employee Gift Card Rewards?

We often hear from clients who want to offer cash bonuses, gift cards, and other appreciation and incentives to their employees. Generally we advise them to take caution in this, and to be sure to ask their tax accountant for tax compliant procedures. Our friends at Mammoth HR up in Portland have published a great blog on this very topic! …

Our Favorite Nerd

We have an opportunity to recognize someone who has been very influential to Polymath, and we want to do it right. It is time to reward all of his great work with as public of a Thank You as we can muster on our little website and social media circles. We hereby officially nominate Seth David of Nerd Enterprises, Inc. for …

Being an Exceptional Visionary Leader

Predictable Success Many of you know that some things shifted for Polymath following Woodard Events’ 2015 Scaling New Heights conference in New Orleans. One of the primary changing factors for these changes was Les McKeown’s keynote on Predictable Success. That presentation opened up worlds of realizations for me on what we were doing right, where we could improve, and what …

Keeping On Task

It has been really exciting in the past two months to start implementing all of the changes that Ingrid brought back in a whirlwind of excitement after Scaling New Heights, all the way back at the end of June.  One of the newer tools that we just started using internally is TSheets.  (Check out our page for more information about …

Why We Don’t Have a Reconciliation Tutorial Video

Some of our viewers have requested a video that provides detailed instructions on how to reconcile their bank accounts.  The biggest reason we do not have a reconciliation video is because we do not recommend someone who is not an accounting professional do their own reconciliations.  There is a certain amount bookkeeping that the average business owner can do on their …

Take Control of Your Business

Who is in control? If you have ever sat down with Polymath for an initial consultation you have likely heard us say “you’re holding the keys, you’re driving the bus.”  If you haven’t had a meeting with us, what that means is that we want every business owner to be in control of their own business. We encourage our clients …

What Should Your Rates Be?

As independent business owners, there are many challenging questions around how to set our rates.  We need to have a profitable business, and we need to ensure that our customers can and will pay the amount that we are asking.  This is true in both product and service industries. If you are selling a product, what is the correct markup? …

Financial Reports for Small Business

The whole point of having bookkeeping software to manage your business is so that you can get the answers you need when you need them.  Regularly reviewing your reports will ensure that you stay informed so that you can make educated business decisions.  The two most common reports that you should be reviewing for your business are the Profit and …

QuickBooks Online Feature Allows Online Payment for Recurring Invoices

QuickBooks Online Feature Allows Online Payment for Recurring Invoices   How To Create a Recurring Invoice Many users are dependent on memorized transactions to save time every month and avoid forgetting a routine task.  Recurring invoices are especially handy if your business is subscription based or you have multiple client who always pay the same amount on a set schedule. …

Tracking Gift Certificates In QuickBooks Online

One area where many of our clients get confused is how to manage and track gift certificates using QuickBooks.  This is understandable, gift certificates are a liability that becomes income and tracking them can easily become confusing. Let’s take a look at the full gift certificate process from start to finish using the example of Penny’s Pies. Penny has been …

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 …