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               July 22, 2014

Cash Accounting No Longer An Option?

Big Government Wants All Small Businesses To Post the Cash -

                                                             Before They Even Collect It


On July 10th, a subcommittee of the House of Representatives' Committee on Small Business held a hearing to discuss the merits of using cash basis of accounting in small businesses, and whether small businesses should be required to use the accrual basis.


What does this mean for you? This would only be a one year windfall for the IRS, but an ongoing headache for most small businesses.


Most business owners think in terms of "cash in" and "cash out," especially when starting a new business venture. This means that you claim the income when payment is received, and claim the expense when it is paid. Accrual accounting claims the income when the invoice is created and the expense when a bill is received from a vendor. This potentially creates a tax liability for small businesses.


For example, let's say that your business invoices a client on December 31 for a very large job that is a significant part of their annual revenue. The client has a history of paying after 90 days. Using the cash basis, the client is invoiced on December 31st, the income is not taxable until the payment is received. With the accrual basis, the income becomes taxable on the date of the invoice (December 31.) This could create a financial hardship for your business if the payment is not received from your client until April 1 or later after taxes are due.


Owning a small business is hard enough without the complication of forcing business owners to spend more time on bookkeeping and taking time away from generating revenue.



QuickBooks Mobile will be discontinued effective July 31, 2014

from Intuit


The mobile app for QuickBooks Desktop (QuickBooks for Windows Mobile Companion App) will be discontinued effective July 31, 2014


Why are we discontinuing this app?

It is always a hard decision to discontinue a service on which our customers have come to rely and we've also heard from many business owners about the importance of managing their business on the go. To better support this need, we are focusing our mobile efforts on QuickBooks Online. Our renewed focus is to make sure we grow with you into the future.


What are the options for you?

You can stay on your current QuickBooks desktop software; however, mobile service through this app will be discontinued. If you've enjoyed the ability to access books through the mobile app, you can still enjoy the same benefits of working on the go with QuickBooks Online.


Before you rush and move over to QuickBooks Online (QBO) for mobile connectivity, it is essential you understand this CRITICAL point:


*   QBO and QuickBooks desktop software (QBD) are VERY different versions of QuickBooks.


Do a full evaluation of the QBO option via the free trial and then decide if it makes sense to completely move your business operations to that platform. 


If you want to stay on the desktop version of QuickBooks (QBD), know that you can also consider having it hosted for 24/7 access to QuickBooks from any device as well.


If you have any questions, give us a call.




If you run a business, you may be missing a gold mine of effective online marketing opportunities. Social media is known for connecting people around the globe and successfully promoting international causes and businesses. It is less well known for marketing local businesses in their communities. But there is a whole world of marketing opportunities available for location-based businesses.


The team at Off-Site Business Services is dedicated to helping your business succeed in the social media space. As a business, your staff is focused on managing the day-to-day activities that make your business unique. You know social media is important, but you might lack the time and resources to optimize your brand's social media presence internally.


You work hard for your business. We work just as hard to ensure that your brand's message is consistent on social media. By allowing us to handle your social media, we free your time to concentrate on what you do best.


The social media landscape changes often, with industry developments daily. Improve the efficiency and stretch the value of your social media investment by allowing us to handle the research and social media management. No matter what challenges or opportunities come about in social media, we position your business to be ready.


Why use Social Media?

  • More visibility
  • More time
  • More money
  • Peace of mind knowing you are staying on top of social media for your business

What you get:

  • Set up 3 profile pages and planning strategy
  • Two posts per week on three platforms (Facebook, Twitter, LinkedIn)
  • Monthly analytic report
  • Reporting of client care issues
  • Approve friend requests
  • 30 minute phone consultation per month to discuss goals & strategy
  • Research what others in your industry are doing

Investment in Social Media

  • One time set up cost: $149.00
  • Monthly package: $349.00

Free 30 minute consultation and 10% off first invoice through August 30, 2014. Call us today for details.

Fact About OSBS: 
In 2013, Off-Site Business Services processed over $5 million in Accounts Payable for clients. 
Off-Site Business Services, Inc.

Full-time Professional Office Management-Without the Full-time Cost.

Kimberly Shannon


Refer a new client and receive a $25 VISA gift card

                                                        (after $100 of paid services).   

   Call for a free one-hour consultation.


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