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From Our Blog

Lee Davis and Company Blog

The goal of the Lee Davis and Company Blog is to keep you updated on all things Quickbooks and ideas to improve your business. We will update the Lee Davis and Company blog every other week, so stay tuned for our updates.



Blogging Topics

Lee Davis and Company Blog explores all kinds of different topics from business advice, to personal development, to Quickbooks tips. It is our hope that you will use our blog as a way to grow as a person and entrepreneur. 

Business Advice

Lee Davis has over 30 years of experience managing businesses, both large and small and in a variety of industries. If you need advice for your business, this is a good blog to get it from. Find out more about Lee Davis. 

Learning from his clients:

As the president of Lee Davis and Company, Lee works with 40 different companies in Quickbooks, business advising and business management. This give him the unique opportunity to learn from his clients, which continually adds to his experience and knowledge about small businesses. 

Personal Development

Megan Davis is the primary blogger of the Lee Davis and Company blog. As a blogger on her blog, landingonsolidground.com, she blogs about personal development.

Transferring personal development to the business world: 

Thus, she takes what she has learned from her blog and brings that to the Lee Davis and Company Blog. She loves using what she has learned in personal development and applying it to the business world. She truly believes that there is nothing that you can’t achieve if you have the right teacher and motivation. 

Quickbooks Tips

Lee Davis, as a Quickbooks Pro-Advisor, is an expert on Quickbooks. In fact, he teaches training courses on Quickbooks. If you can’t make it to those, you should check out our blogs on some of our students and clients issues with Quickbooks.

Learning from your questions:

Because Lee answers all of his students and clients questions about Quickbooks, he is very familiar with any problems you might have with Quickbooks. Thus, he writes about common problems on this blog. 

Meet our Blogger: Megan Davis

Megan is a blogger for landingonsolidground.com where she blogs about her personal development. She is also a Life Coach, using what she has learned from personal experimentation and expert advice to help her clients achieve their dreams. She loves blogging for Lee Davis and Company because it give her an opportunity to explore business and the world of Quickbooks, bookkeeping and accounting. 

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Getting Financing for My Small Business

Getting financing for my small business was a process that I want to share with you. I think that my clients and others will benefit from learning about my experience and sharing my experience on getting financing for my small business will help me live out my purpose.

It is my goal to help small businesses, succeed and since capital is often an issue for the businesses that I help, I think this post might help small business owners succeed.

By going through the process of getting financing for my small business, I was better able to understand my clients struggle and better able to help them get financing themselves.

If you are interested in applying for an SBA loan, now is the time. 

If your credit score is in the range of 600, the SBA is a good option for you to think about refinancing your debt in to a lower interest rate debt. 

The SBA is currently accepting loan applications from loan institutions through the end of September. Under the current forgiveness program, the SBA is offering to waive the first 3 months of payments.

Be prepared.

One of the benefits of an SBA loan is that if the economy hits a downturn, the SBA will help you with loan forgiveness.

Getting Financing - I would love to help you.

My Journey – Getting Financing for My Small Business

When I started my QuickBooks consulting and training business, I used my home equity line of credit to handle my start-up costs and operations for approximately 15 months. Then, I made my first attempt at creating a business plan eight months after I started my business. 

Finish your business plan.

 I had done some work with SCORE “Counselors of America’s Small Business”, and I knew I needed a business plan.

Getting my business plan done wasn’t as easy as I thought, not necessarily because it was hard to write one, but because I wanted to write the best plan possible. 

Thus, it took me another seven months, drive, determination and a need for capital to finally complete the plan. 

Get a marketing company to help you with your marketing analysis.

I worked with a great company, Do Something Different Media, who helped me edit my plan. Rhiannon did some good research for me to help me figure out which niche I would fill. This was a good exercise for me as a small business guy. After meeting with Rhiannon, I felt more prepared to complete the section on marketing my business.

Make an appointment with an SBA approved lender to review financials.

Then, I sought assistance from an SBA approved lender to review my business plan, which included my financials.

You can call and make an appointment with a lender like Bar Harbor Bank and Trust. Please call Tiffany at Bar Harbor Bank and Trust and mention my name.

The lender will look at your financials to let you know what you need to do to improve your chances of getting a loan.

This is a key step to your success because it will help to position your financing to guarantee loan approval. Since debt is a big factor in loan approval, the lender’s suggestions are crucial.

I needed a few things at my first meeting.

When I first applied, the loan officer gave me a sticky note that said what she needed.

She needed: 

  1. a business plan
  2. an application
  3. and a explanation of what I wanted the the funds for.

Getting an SBA Loan - Now is the Time

Sit down with the SBA lender.

Having my business plan in hand and the loan application, I sat down with an SBA lender. The first lender looked at my application and told me she did not see the bank approving my loan. 

One area that seemed to be a challenge for the bank was the fact that the SBA would not consider the amount that I had already put into my business and financed through my line of credit. Initially when I began discussing the SBA loan, I had spoken with another lender, who had not mentioned this as an issue. 

Don’t be discouraged.

I was not discouraged since, after all, to me, applying for a loan was a process that would require both learning and patients.

I approached another lender, filled out the application, and my loan was approved.

The bank received a partial guarantee from the SBA, but all the important pieces of the application process, like the business plan, the application and good credit were still important to get my SBA loan. 

Using QuickBooks made the application process easier.

Because QuickBooks allows you to generate reports quickly and efficiently, I was thankful that my QuickBooks files were current, complete and correct.

Because I am a a Quickbooks Pro-Advisor, filling out the financial part of the application was much easier. If you need help with QuickBooks, I would love to train you.

There is no need to feel overwhelmed when getting financing for your small business. Just take each step slowly and with intention. Also, have patients and don’t get discouraged. This is a process that will help you better understand and grow your business. Reach out to Lee Davis and Company if we can assist you.

Getting Financing - read about how I got my SBA loan.

How can Lee Davis and Company help you get financing? 

  1. We could train you to become the best bookkeeper. 
  2. If you need someone to set up your QuickBooks, we could do that. 
  3. While we are not taking on any straight bookkeeping clients, we would love to manage your business for you. 
  4. If you live in the Peterborough, NH area, you could join our networking group, Our Town Networking.

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools, skills and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services (only in conjunction with Management Services)
  2. Small Business Advising 
  3. QuickBooks Training
  4. Management Services

We are looking for a bookkeeper and digital marketing expert. 

Hello, if you are reading this post, perhaps you might know someone who could help us with bookkeeping or digital marketing. 

At Lee Davis and Company, we are looking to hire someone to be in charge of digital marketing. We are looking to grow our training business and soon will launch an e-book that we need someone to help promote. 

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Getting Financing - Having an SBA Loan is a good idea.

Upcoming at Lee Davis and Company:

September Zoom Training

Sign up for our Zoom Training to get learner-centered training that will help you become the QuickBooks expert for your small business.

Launching our eBook – Foundations for QuickBooks

If you don’t consider yourself an accounting person, get ready to become one.

Megan, Lee and Erica designed the book to help anyone learn the basics of accounting.

This book has many educational activities that will help you move from overwhelmed with accounting to competent with accounting.

Read more posts by Lee Davis and Megan Davis

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks
  7. Lee Davis and Company Management Services

Choosing or Becoming the Best Bookkeeper

Choosing or becoming the best bookkeeper can be tough. There are many choices and lots of advice out there, so you probably need some direction. We will make that decision easier for you by doing your research for you. First we will present the research from the web, and then we will go into how to become that bookkeeper.

If you are looking for a bookkeeper or would like to be a better bookkeeper, I would encourage you to read on. When you start looking for a bookkeeper, do some research and understand what you, as an entrepreneur ,should be looking for. 

Research – Choosing or Becoming the Best Bookkeeper

Intuit.com:

Elizabeth Joyce of Intuit.com suggests a few things in her article entitled, How to Help your Clients Choose the Best Bookkeeper that I wanted to share.  

1. A great bookkeeper has passion for learning and developing as a bookkeeper. 

If you find a bookkeeper who has achieved an advanced certification and who has used their certification to help small businesses, you have achieved the first step. Look for the words, “QuickBooks ProAdvisor” attached to the person’s name.

2. A great bookkeeper has experience that can be used to help you grow your small business. 

Bookkeepers come from all different backgrounds. If you are considering cost as your main concern, the range for a bookkeeper is between $40 and $70. 

Consider carefully a bookkeepers experience and ask multiple questions to understand their experience. Finally, ask yourself if that experience would be a great fit for you.

3. A great bookkeeper should help you grow your business. 

During the interview process, ask questions about the kind of work the bookkeeper has done to answer the question:

  • Does the bookkeeper have the ability to look beyond the numbers and help your small business grow? 
  • Can they look at the numbers and make suggestions that would improve your business operations?
  • Does the bookkeeper have the ability to understand your companies billing and collections?
  • Can they suggest opportunities for improvement?

4. Great bookkeepers are hardworking and trustworthy. 

First impressions go along way in determining if the bookkeeper is hardworking and trustworthy.

  • Did the bookkeeper research your company? 
  • What was your first impression about their dress, and their handshake. 
  • Were they confident when they spoke about the work they have done or they are doing.
  • What did their shoes look like?
  • Did you feel like they were approachable?

Benilyn Formoso-Suralta from Fit Small Business has a whole list of things that you should consider when hiring the best bookkeeper:

Among those things, I would note that these qualities popped out:

1. Attention to Detail

Your bookkeeper should annoy you trying to balance your books. If they don’t annoy you, you have the wrong person. The best bookkeeper is bothered by the books being off by one penny.

2. Understands your Business

They need to know your business inside and out. For example, they should know what your biggest expenses are and who you bill.

3. Organized

Great bookkeepers are organized and meticulous. You might consider how they keep their office or how fast they retrieve information. Look for systems to be in place to get things done.

4. Not Cheap

You do get what you pay for. While hiring an expensive bookkeeper might be difficult, hiring a cheap bookkeeper will cost you more in the end.

5. Local

Meeting with someone face to face may be necessary.

6. Contractor Instead of Full-time

This saves you money in the long run because your bookkeeping needs are not always fixed. There are times that you need more work done, for example, around tax season or the end of the year.

7. Someone in your Industry

Because you do need someone who understands your business, find a bookkeeper that has worked with clients in your industry before.

8. Accounting Degree

You need someone who understands and is interested in finance and accounting. If that person has a 2-4 year degree in accounting, that is preferable.

9. Problem Solvers

The best bookkeepers are awesome problem solvers, so ask the perspective bookkeeper: How have you solved a problem for your business or another business?

10. Good Communication Skills

A great bookkeeper not only can crunch the numbers, but can communicate with a whole team, so ask the perspective bookkeeper: What do you do to ensure that you are being understood when you communicate with your team or your clients?

11. Up to Date on Bookkeeping/Accounting Practices

Although the fundamentals of bookkeeping stay the same, software and applications, like QuickBooks are always changing.

12. Strong Commitment

Make sure that your business is a priority to your bookkeeper. Some bookkeepers take on more than they can handle. You need a bookkeeper who has made a commitment to your company.

The team at the Wizxpert.com had some great advice.

1. Customer Reviews

You can tell a lot about the bookkeepers out there by reading customers reviews. Check out their Google reviews.

2. Accessable

Get a bookkeeper who is available, even at high need times. You also want to hire a smaller firm, where you can get more personalized service.

3. Understands Cloud Technology

Your bookkeeper might use Box or Dropbox. Ask them which cloud storage database they are familiar with so that you can easily send documents to them.

Meryl Johnston of Bean Jinas had some great questions that you should ask your bookkeeper that I wanted to share with you.

1. What is the scope of your bookkeeping work?

So in other words, do you only help me with keeping my books or could you help me run my business?

2. What are your qualifications?

Are you a certified QuickBooks Pro Advisor or do you have an accounting degree?

3. What is your level of expertise?

In other words: can you clean up messes? Would you know how to fix a problem?

4. How familiar are you with my industry?

Have you worked with other clients who are in my industry?

5. How do you communicate with your clients?

Are you clear, concise, and when you write, does it make sense? Do you communicate with all of your clients regularly through phone or email?

6. How fast can you turn around my work?

What can you expect each week, month and year?

7. If the bookkeeper is away or sick, how will you get your work done?

Do you have a second person that can help with overflow work?

8. Is financial information protected sufficiently?

You need to make sure that the bookkeeper is taking the proper precautions to ensure that financial information is secure. You might ask if the bookkeeper has a secure fax by which to send information. Also, you could ask: how do you store my passwords?

9. How will you charge for your services?

Do you bill by the hour or is there a monthly flat rate?

Becoming the Best Bookkeeper

The way to become the best bookkeeper is to just take the research that I did for you and start making goals and adding to-dos for yourself.

To Dos:

  1. Communication – This week, I check in with my 2 of my clients to see how they are doing.
  2. Coverage – Hire someone to pick up my overflow.
  3. Certification – Get certified or trained in a new software.
  4. Organization – Set up a system for your work.
  5. Scope – Write down the scope of your bookkeeping experience, and try to broaden it through jobs and experience.
  6. Customer Reviews – Send out Google Reviews after a few months of working with a client. Put reminders in your calendar, so you get it done.
  7. Assessable – Have a time every day to answer all emails or texts related to your clients.
  8. Cloud Technology – Research and start using the popular cloud storage databases.

Goals:

  1. Problem solving – This week, if I have a problem, I won’t put off the problem, I will try to solve it right away.
  2. Attention to detail – This week, every time I finish writing an email, I will read it over two times to look for errors.
  3. Scope – Find mentors in business that can broaden your skills.
  4. Experienced in an industry – Read 1 book a week about the industries that you are focusing on.

If you don’t find yourself becoming the best bookkeeper, keep making goals and to-do lists. You will become the best bookkeeper you know.

Conclusions:

So, I am the Megan, the blogger for my papa, Lee Davis, the owner and bookkeeper at Lee Davis and Company, and I can say that my papa is an excellent choice if you are looking for a bookkeeper or small business manager in the Monadnock region of New Hampshire. He just fits the bill. After writing and researching this post, I can say that without a doubt.

While we are not taking on any straight bookkeeping clients, if you would like to level up in business, reach out to my Papa. He is made for bookkeeping and managing small businesses. He will do whatever he can to improve your bottom line. His persistence, dedication and skill are unparalleled.

Also, it looks like a lot of the qualities of the best bookkeeper are easy to cultivate. If you are looking to become the best bookkeeper, you can do it. You could start by taking our training course, which is held online periodically. You could also get in touch with my father. He is an awesome mentor to many business owners in the New Hampshire area. If you live in the Monadnock region, you could check out the Our Town Networking, which my Papa started.

Conclusions by Lee Davis, our bookkeeper and manager:

All in all it is challenging to find the right bookkeeper, but don’t overlook the importance of networking to find the best bookkeeper. The best candidate may come from a trusted advisor, like your accountant, a close friend or a fellow networker. 

Finally, I want to encourage you to hire a bookkeeper and not rely on an accountant to keep your books. Your accountant can’t do your bookkeeping. A great bookkeeper and great accountant fill two different roles. Use them to your advantage.

How can Lee Davis and Company help you choose or become the best bookkeeper? 

  1. We could train you to become the best bookkeeper. 
  2. If you need someone to set up your QuickBooks, we could do that. 
  3. While we are not taking on any straight bookkeeping clients, we would love to manage your business for you. 
  4. If you live in the Peterborough, NH area, you could join our networking group, Our Town Networking.

Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools, skills and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services (only in conjunction with Management Services)
  2. Small Business Advising 
  3. QuickBooks Training
  4. Management Services

We are looking for a digital marketing expert. 

Hello, if you are reading this post, perhaps you might know someone who could help us with digital marketing. 

At Lee Davis and Company, we are looking to hire someone to be in charge of digital marketing. We are looking to grow our training business and soon will launch an e-book that we need someone to help promote. 

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis and Megan Davis

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks
  7. Lee Davis and Company Management Services

Not Afraid of the Phone

At Lee Davis and Company, we are not afraid of the phone. Why? The phone is how you get a lot of things done. Why? Because most people are afraid of the phone, and people can easily say, no to you over email or text. That’s why, at Lee Davis and Company, we are not afraid of the phone. We want to do everything in our power to solve your management problems, so we do what others are not willing to do – we pick up the phone.

Research:

I did a little research on why we should not be afraid of the phone.

Why do we avoid the phone?

According to the Inc.com article, the reasons why we are afraid of the phone are:

  1. You don’t have to waste time with chitchat.
  2. You can get your message out, regardless the timezone or the receiver’s whereabouts.

For me, I think those reasons are true, but I think that it just takes so much energy to communicate with people over the phone. I have have always had a little social anxiety, so talking on the phone has always stressed me out. It just takes much less energy to send a text or cut out talking on the phone by using online resources.

Why shouldn’t we avoid the phone?

According to the Inc.com article, we need to use the phone when you need to:

  1. get an immediate response.
  2. work with multiple people.
  3. avoid giving someone a written record.
  4. convey some kind of emotion.
  5. clear up confusion.
  6. break bad news.
  7. share important news.
  8. schedule something that is complicated.
  9. avoid offense or conflict.
  10. add a personal touch.

Another reason that you shouldn’t avoid the phone is that it helps you to build relationships and avoids misunderstanding.

Therefore, even though it’s tough to pick up the phone, sometimes we have to. In fact, this week, Lee picked up the phone and got things done for his client.

The Story – Lee Davis and Company is not afraid to pick up the phone for you.

A non-profit had an obsolete credit card payment system, and they were going to expand their opperation. Lee recommended that they get a new credit card processing system, which would be PCI compliant.

In the process of using the new credit card system, their internet was spotty at their new location, so they decided to use Square. Square proved to be a difficult system to balance the accounts with the bank and get reporting. While the executive director wanted Lee to use Square because of its ease of use, Lee decided to investigate the credit card processing system that they were already paying for to look for an enhanced tech tool, similar to Square.

Picking up the Phone 

After his investigation of the credit card processor and meeting with the credit card sales team, Lee came up with a solution. The credit card sales team provided a piece of technology that would allow the client to process cards easily at no cost, and Lee Davis and Company provided the PCI compliance. So, the end result is that the client will have a better tool to work with using the clients credit card processor. 

Every problem is figuroutable.

This is just one example of how Lee Davis and Company solved one of its client’s problems by investigating and digging to come to a workable solution for the client. We believe that every problem has a solution. Everything is figuroutable and within a reasonable cost. 

Expect persistence.

We are persistent and are not afraid to pick up the phone to fix the problem. That’s who you hire when you hire Lee Davis and Company. We will do everything in our power to fix your problems, so that those problems are in the past. 

Square is not the best tool to use if you need to know a lot about the products that are being sold. It is more appropriate for small business entrepreneurs that have few products and little need for reporting. 

Have we convinced you to stop being afraid of the phone?

You really should not be afraid of the phone. It is something that will set you apart from more and more people who refuse to pick up the phone to make their life easier.

Ramit Sethi, blogger and author of I Will Teach You To Be Rich says that if you owe someone, you need to pick up the phone and try to negotiate that loan or liability. Most people will not pick up the phone. This goes for anything in life. If you are the one to pick up the phone, you will be the one that can get things done and get better results.

This advice has already helped me.

I’m Megan, blogger at Lee Davis and Company. After writing this post, I was faced with an obstacle that required some phone calling. I just picked up the phone and called. The result was that I did get transferred a few times, but in the end, I got to the bottom of the problem. I am so thankful for this advice because it doesn’t serve me to be afraid of the phone. I hope that we have convinced you to not be afraid of the phone.

If this advice to be not afraid of the phone will help you. If it does, share it and help others who need some encouragement to start picking up the phone.

Persistence is my Lee’s super power.

My Papa, Lee Davis is the most persistent person I know. He really will is not afraid of the phone. I am so proud of that. He just picks up the phone and calls whomever he has to to fix a particular problem. If you are his client, he really will do whatever he can to help you find more success. That is what makes him so awesome.

How can Lee Davis and Company help you if you are afraid of picking up the phone?

  1. Business Management – We would love to pick up the phone for you. Let us do the hard work to help you find even more success.
  2. Business Consulting – Perhaps you need a little push, or you don’t know who you should call when you pick up the phone, we would love to direct you.

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools, skills and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services (only in conjunction with Management Services)
  2. Small Business Advising 
  3. QuickBooks Training
  4. Management Services

We are looking for a digital marketing expert. 

Hello, if you are reading this post, perhaps you might know someone who could help us with digital marketing. 

At Lee Davis and Company, we are looking to hire someone to be in charge of digital marketing. We are looking to grow our training business and soon will launch an e-book that we need someone to help promote. 

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis and Megan Davis

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks
  7. Lee Davis and Company Management Services

Get a Credit Card for your Small Business

Do you need to get a credit card for your small business? One of the reasons why a pediatrics practice (who has been in business for 60 years) hired me, was to help them get a credit card. Why did I need to help get a credit card for their small business? They needed a way to efficiently keep track of expenses and cash in on perks a credit card offers.

Why did a pediatrics practice need Lee Davis and Company Management Services?

A pediatrics practice needed both bookkeeping and management services, so they hired Lee Davis and Company. Lee looked at their QuickBooks and cleaned up their books. Once he took care of the low-hanging fruit, he turned to some other tasks that needed to get done to make their business run more efficiently and cost-effectively.

The Story – Getting a Credit Card for the Small Business 

One of the tasks that one of the partners had for Lee to do was to get a credit card for them. Lee researched the credit cards available. Next, Lee turned to one of the partners to help him with the task. The partner applied for a credit card and was turned down. 

Did Lee Davis and Company give up? No!

Lee went to the company’s bank and asked if the company could get a credit card from them. The bank only offered the option of opening up a debit card. But, this solution didn’t accomplish the company’s goals. They wanted to be able to use points and cash back perks. 

Did Lee Davis and Company give up? No!

Next, Lee Davis tried American Express. He applied for the American Express card for himself and was approved for the card. Then, he went back to the pediatrics company and advised them to also apply for an American Express card. 

Did Lee Davis and Company succeed? Yes!

Why is this the right solution?

A credit card is a good choice for a business because of the cash back rewards. Over the next 6 months the company could save $700 to $1,000. 

The partners and employees also don’t need to turn in any receipts for expenses they incur for the business. This allows the company to eliminate a time-consuming task that leads to errors in bookkeeping, thus increasing efficiency in their business.

Lee Davis and Company is working on a list of management tasks for the pediatric practice. Opening a credit card is just the beginning. 

What else is Lee Davis and Company Management Services going to do for the practice?

Lee Davis and Company is going to: 

  1. Help them with their financial reporting – We are going to put together their financial 
  2. Move them over to QuickBooks Online, so that the partners can access their books from a variety of devices from a variety of locations
  3. Help them file for their PPP loan forgiveness
  4. Look for ways to increase quality of the product but decrease the overhead of the practice

What has Lee Davis and Company done for the pediatric practice? 

Lee Davis and Company has:

  1. Put together an expense form for them to keep track of the various expenses for the practice, so at the end of the year, the partners could look at who submitted what. 
  2. Cleaned up messes, which helped them trust their accounting information to reduce their accounting cost

Would you like to see more of these helpful posts? 

Check out our Facebook, Linkedin or Pinterest that we update regularly. 

We would love to help you rock your business! 

How can Lee Davis and Company help you with the management of your company? 

  1. We could train you to use QuickBooks. 
  2. If you need someone to set up your QuickBooks, we could do that. 
  3. We would love to manage your business for you. 
  4. If you live in the Peterborough, NH area, you could join our networking group, Our Town Networking.

Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools, skills and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services (only in conjunction with Management Services)
  2. Small Business Advising 
  3. QuickBooks Training
  4. Management Services

We are looking for a digital marketing expert. 

Hello, if you are reading this post, perhaps you might know someone who could help us with digital marketing. 

At Lee Davis and Company, we are looking to hire someone to be in charge of digital marketing. We are looking to grow our training business and soon will launch an e-book that we need someone to help promote.

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis 

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks
  7. Lee Davis and Company Management Services

Lee Davis and Company Management Team

Lee Davis and Company Management Team would love to help you, the business owner. Let us take you from overwhelmed to thriving or from surviving to thriving. This service is for business owners who would like to see their business expand or need help making financial decisions.

Part-Time Manager

You might not have enough work to hire a full-time manager, but you would like someone else to manage your business. That’s the perfect spot for us. We would love to be your part-time manager, help you run your business, so you can focus on what you do best.

Lee Davis and Company Management

Lee Davis and Company works as a team to manage your business. The team consists of Lee Davis, your financial and business expert, Erica McIntyre, your technology expert, and Megan Davis, your words and creative expert.

We work together as a team to help make your dreams a reality.

Lee Davis, your manager

Lee Davis, your manager, has 50 years of small business management experience. He began his business career in high school, working for his father, a small business owner. Their company restored old New England homes.

Then, he helped turn around the campus bookstore that he began working for while attending Hawthorn College in Antrim, New Hampshire.

After that, he took a job managing an orthopedic office, and he managed orthopedic offices for over 20 years.

Next, Lee Davis started his own business, Lee Davis and Company, doing primarily bookkeeping. After doing the bookkeeping for some businesses, Lee started managing his clients businesses, and he loved it. This was exactly what he wanted to be doing. It used all of his experience, and he loved helping turn around businesses.

Now, Lee Davis and Company primarily manages businesses. In fact, while we still does some bookkeeping, our team only takes on clients that require the Lee Davis and Company Management Team.

We are all excited about this change of focus because Lee is doing what he loves to do, manage businesses.

What value does Lee Davis bring to your company?

Lee Davis could help you with:

  1. Business Coaching – Do you need a road map to reach your goals? We would love to help you achieve those goals. 
  2. Financial Preformance – Would you like to see your company make more money? Let our Quickbooks Pro-advisor look at your books to let you know what you need to do to get on the right track. 
  3. Review Financial Statements – Let us look at your balance sheet and income statement to see how we can help you. 
  4. Tax Solutions – We would love to work with your CPA to maximize tax savings. 
  5. Payroll Services – Using QuickBooks Payroll Services or another payroll provider, we would love to help you with your payroll. 
  6. Notes Payable – We will review your notes payable and work with lenders to reduce your overall financing cost. 
  7. Budgeting – We will create a budget and cash flow projections to help you plan to succeed. 
  8. Workers Compensation – We will save you time and money handing the management of reporting workers comp audits. 
  9. Build Communication – Are you having difficulty communicating with your staff? We would love to come up with solutions that will make that easier for you. 
  10. Accounting – Let us take over some of the tasks that your accountant does.
  11. Loan Applications – As part of our business management services, we will help you apply and attain loans. 

Erica McIntyre, your technology expert

Erica Davis is one of Apple Inc’s Apple Care experts. She helps Lee Davis and Company by designing our website and supporting our clients by coming up with technology solutions. Erica not only brings her technology knowledge to the table, but she brings her creativity as well.

What value does Erica McIntyre bring to your company?

Erica McIntyre could help you with:

  1. Technical solutions – You might have a problem that could be solved using technology. Erica will research technical solutions that would help you become more efficient.
  2. Technical coaching– After discovering the technology that will make you more effective, Erica will coach you on how to use those technology solutions.
  3. Website development – Perhaps you don’t want to spend a lot of money on a website but know you need a website, Erica and Megan work together to create the perfect mini website for you.

Megan Davis, your word and creative expert

Megan Davis is a blogger for her websites, Landing on Solid Ground and Selling Social New Hampshire. She also does all of the blogging for Lee Davis and Company. She loves coming up with creative solutions to all problems, whether that’s parenting or business.

Her posts are not only full of information but jammed packed with solutions for you.

In addition to her blogging, Megan is also writing books on personal development, cooking and QuickBooks.

What value does Megan Davis bring to your company?

Megan could help you with:

  1. Branding – Are you having difficulty coming up with the perfect words to describe how awesome your business is? Let Megan help you come up with the words to clearly communicate the value of your business.
  2. Website development – Do you want a website, but don’t want to pay an absorbent amount of money? Let Megan and Erica work together to create a mini website that you can be proud of.
  3. Website assessment – Perhaps you already have a website, but you want to know how to make it better. Let Megan give you feedback on how you can improve your website.
  4. SEO Advice – Maybe you have a website, but you are not getting the results you want. Let us give you solutions to improve your website traffic.
  5. Business advising – With Megan, use her creativity to come up with solutions for your businesses problems.

Lee Davis and Company Management Team

If you are looking for a way to level up in businesses and get rid of some of your stresses, but you don’t want to hire a full-time manager, this is the best solution. You get the value of a management team for a fraction of the price.

We would love to start working with you. There is nothing more exciting than helping our clients achieve their dreams.

Every single client that we have had has been happy with our work because we are a company that believes in doing an excellent job and going above and beyond to make our clients happy.

We know good work, and we do good work.

How much do your management services cost?

Strategizing – $750

Sit down with Lee Davis and Company Management Team, and we will give you a road map for what your next steps should be to start rocking your business.

What does this service include?

  1. Researching your company and looking at your financials
  2. 1 hour meeting to discuss your company and your next steps and goals

Strategizing and Mini Website – $1,100

Sit down with Lee Davis and Company Management Team, and we will give you a roadmap for what your next steps should be to start rocking your business. You also would like a mini website that reflects you and your brand.

  1. Researching your company and looking at your financials
  2. 1 hour meeting to discuss your company and your next steps and goals
  3. 1 hour meeting with Megan and Erica to discuss your website.
  4. Mini website designed by Megan and Erica.

Part Time Manager – $1,500 – 3,000 a month

Hire the Lee Davis and Company Management Team to manage your business.

What does this service include?

  1. Researching your company and looking at your financials
  2. 1 hour meeting to discuss your company and your next steps and goals
  3. Doing all of the work to get your business on track

Why we would like to help you:

Lee Davis and Company Management Team would love to start working with you so that your company starts realizing its dreams. We know that we can help you.

Lee Davis and Company Management Team in Action

Here is an example of what Lee Davis and Company Management Services can do for your company. We will not give you the company’s name, but this is a real company that Lee Davis and Company manages.

We will call the company, Craigs Landscape and Design after the QuickBooks’s Test Company that you can use to explore QuickBooks.

Before Lee Davis and Company Management Team

From a customer’s perspective, Craigs Landscape and Design was thriving as a business because they had many clients and no problem finding new clients. 

 But, on the inside, Craigs Landscape and Design needed some management help to get their finances in order. 

  1. They had loans and other expenses that were eating up their monthly profits.
  2. They needed their bookkeeping in order. 
  3. Furthermore their income statement and balance sheet were not correct.

That’s why the owner of Craigs Landscape and Design hired Lee Davis and Company to manage his business.

After Lee Davis and Company Management Team

Lee and Company did a few things for Craig’s Landscape and Design. 

Lee Davis and Company Management Team…

  1. cleaned up their books.
  2. put a financial plan together for them, including increasing revenue and analyzing expenses.
  3. moved their billing to QuickBooks.
  4. purchased an iPad for them so Craig, the owner could get the invoicing done on job sites.
  5. got their loans refinanced through the SBA.
  6. helped to get the financing for a major piece of equipment.
  7. added a line of credit for working capital.
  8. helped them get a PPP2 loan. – Once his books were in order, it was much easier to apply for loans.

Does any of that sound like something you need? We would love to help you by managing your business. 

We know that we can help you too.

Let us help you. Contact us today through this website or email Lee at [email protected]

Invoicing with QBO Made Easy

Invoicing with QBO? That’s what you are looking to learn more about?

Alright, so you (the entrepreneur) have delivered an awesome product. Now you want to get paid. We would love to help you with that. So, we have come up with this post to explain how you can use QuickBooks Online to send invoices to your clients.

We have tried to make this post as exhaustive as possible. If you like, we would love for you to subscribe to our Facebook, Pinterest or Connect with us via Linkedin.

Who is “we”?

Lee Davis and Company is a small business management and bookkeeping company that helps clients run the business of their dreams. We work with clients, primarily in the New Hampshire area, to help them run their businesses more efficiently.

How do we help our clients run their businesses more efficiently?

We help our clients by:

  • training them to use QuickBooks online and desktop.
  • managing their QuickBooks.
  • managing their businesses.

We would love to help you run your business more efficiently.

How can Lee Davis and Company help you?

Here is what my Papa, Lee Davis, CEO of Lee Davis and Company has to say about invoicing with QBO.

QBO has a great invoicing product that will allow you to create an invoice and apply a deposit that should be applicable to your service. 

You can also send out your invoices and record a final payment once the service or product is received. 

This blog cannot teach you all you need to know about how invoicing with QBO works, but it is a good place to start. 

Here are the steps you need to take to create a successful invoice:

1. Go online and access the test company in QBO Craigs Landscape and Design. 

I found that if I used the test drive too many times it asked me to log in. To get around this problem, just Google “QBO test drive”. It will bring you to the test drive every time and you don’t have to log in.

Use this company as a way to work and learn how to use QuickBooks Online. We use this awesome tool for all of our training courses.

This is a great tool that you will use in our training course. It is awesome to be able to explore QuickBooks before you buy it.

2. Click on the “+New” button to get to the Receive Payment page.

Receive Payment page for invoicing with QBO

3. Choose a customer.

select the customer for invoicing with QBO

4. Select payment method.

5. Put the money into the account, Undeposited Funds.

6. Select invoice you wish to receive payment from.

6. Select invoice you wish to receive payment from - invoicing with QBO

7. Then hit save, and close.

My questions about invoicing with QBO for our expert, Lee Davis:

What mistakes do your students or clients make when invoicing with QBO?

Mistake #1 – They don’t set it up.

When they are invoicing, if they use the option of online payments, they quite often don’t understand how to set it up and maximize the benefit of receiving payments online.

Use the feature. Set it up today. Customers today prefer receiving an online payment and being able to pay their bills online. Thus it is important to use this feature.

Success!!!

One of my clients was able to increase his cash flow by $30,000 by using invoicing with QBO. What could you save?

Mistake #2 – They don’t use categories in invoicing with QBO.

Also, my clients don’t understand that categories can be used for submitting their fees quickly.

If you have a charge for mowing, you need to set up different categories in QuickBooks for different levels of mowing. Then, you can send out charges right on the job for whatever job you do.

This allows you to send out your invoices faster and get paid faster.

QuickBooks has a feature that allows you to set up recurring invoices. This saves my clients quite a bit of time. Many people don’t utilize this feature enough.

2. What is a tip that you might give to someone just starting out with invoicing?

Tip #1 – Set up Categories.

Start slowly. Take one or two clients to invoice, and set them up, setting up the various categories that you need to create.

Setting up Categories

  1. To set up categories, go to the gear first.

2. Next, go to Products and Services.

3. Then, hit New.

3. Select Services.

4. Create a code under Name for example, “Mowing” or “Mowing 2”.

5. In the description box, write a description that the client would see, so instead of “Mowing 1” writing “Lawn Mowing”.

6. Write the sales price.

7. Choose the account that you want to put the money into. You might just choose sales, or it might be more specific like real estate sales.

8. If you purchased something for this service, then you can add that information in purchasing information.

Tip #2 – Get email addresses because you can e-mail your invoices, which saves money and time.

You save money on postage and you get paid faster. Some of my clients send their invoices when they are on a job. If they were not sending an invoice electronically, they would have to wait until they got back to their offices. What this leads to is the invoices getting done in bulk once a week, which slows the speed that clients get paid.

Send your invoices electronically, and everything is done efficiently and it is relatively free to do so. Furthermore, many people these days really like getting their invoices electronically, so you are creating happy customers.

Is there a way to rock invoicing?

Rock invoicing with QBO by Customizing

You can customize your invoicing to add a message to let your clients know that you have a new product or sale.

How do you customize your invoices?

  1. To customize your invoices, first go to the gear.

2. Next go to “Custom form styles”.

3. Start customizing your invoice using the options available.

Conclusion

If you are using excel to do your invoicing, get ready, QuickBooks is going to rock your business. Invoicing is not something you can do with excel, and the kind of features that are available with QuickBooks Online (QBO) makes it a must have for businesses.

Would you like to see more of these helpful posts?

Check out our Facebook, Linkedin or Pinterst that we update regularly.

We would love to help you rock your QuickBooks!

How can Lee Davis and Company help you with your invoicing with QBO?

  1. We could train you to use invoicing in QuickBooks. 
  2. If you need someone to set up your QuickBooks to use this awesome feature, we could do that. 
  3. If you need someone to send out your invoices for you, we could do that too. We would love to manage your business for you.

Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. QuickBooks Training
  4. Management Services

We are looking for a bookkeeper. 

Hello, if you are reading this post, perhaps you might be a bookkeeper or know someone who is a bookkeeper. 

At Lee Davis and Company, we are looking to hire a bookkeeper to service the ever-growing number of clients that we have on our roster. 

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis 

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks

Simple Budgeting in QuickBooks

How can I do simple budgeting in QuickBooks? Is that what you are looking for? My Papa, Lee Davis, the owner of Lee Davis and Company would love to help you.

Lee Davis is an expert in QuickBooks and small business management. He does the QuickBooks and small business management for many local New Hampshire businesses.

If you need help running your business, Lee would love to help you. There is no need to do it all, and there is no need to be a wiz at business to own your own business when you hire Lee Davis and Company to help you.

Let’s start with your QuickBooks question: How can I do simple budgeting in QuickBooks?

Everyone needs simple budgeting.

The little things matter. Money you spend on coffee matters. Monthly subscriptions matter. Lowering interest rates matter. Every little penny matters.

It’s hard to remember that when you think about the purchasing power of a penny, but pennies add up, and that’s why you need a budget.

Don’t be fooled by low-priced items.

Businesses get you with low-priced items. You might think to yourself, “Oh that doesn’t cost very much; I can afford that.”

But, when it comes down to it, those low-cost items are breaking the bank. That’s why you need a budget. That’s why this post on simple budgeting with QuickBooks will help you succeed in business.

For more information on how to rock your expenses, check out our post on tracking business expenses with QuickBooks.

So, Papa, How can I do simple budgeting in QuickBooks?

Many businesses look at their financial reports to see where they have been, rather than to see where they are going. Wouldn’t you like to know where you are going? That’s using QuickBooks to its fullest potential, and that’s what I would like to help you with.

What does the budget do for me?

The budget in QuickBooks shows you both, where you have been and what might happen to your business. 

Am I close?

 The budget tool answers the question of how close am I to reaching  my goals. This is based on current information and trends that are occurring or have occurred in your business historically. 

Cash Flow Analysis

The budget allows you to drop the information into a spreadsheet and create a cash flow for your banker or the board of directors.

Do I need more cash?

How is your business managing your cash?

  Budgets is a great tool to look at the cash needs of your business. 

If you are just starting out and you are looking for a small business loan, the SBA will require both a budget and a cash flow analysis. 

Check out my post on getting a small business loan.

How do I get help?

 While you may not have experience in preparing either a budget or a cash flow analysis your QuickBooks Pro-Advisor and your accountant can be very helpful in assisting you with these important financial tools. 

After you have gone through the process of using these tools, use them to manage and grow your business.

What are my takeaways from this post?

  • Budgeting in QuickBooks allows me to come up with a cash flow analysis that will help me track the pennies.
  • It will also be beneficial for me to know what is coming up according to trends; that’ the power of budgets in QuickBooks. Because it is a computer based program, it can crunch the numbers and make projections.

Questions on simple budgeting in QuickBooks:

What are some mistakes people make when using simple budgeting in QuickBooks?

My clients don’t have a budget.

The first mistake is that clients don’t prepare a budget. Businesses need to review annually what they are spending. After they review what they are spending, they can make decisions about how they need to move forward in the upcoming year.

Instead of reacting to what happens in their business, they can make informed decisions based on the numbers

My clients don’t keep good records.

The second mistake is that my clients often don’t keep good records on their expenses so that they can review their expenses and see what they are spending money on.

For example, if my clients know what they are spending on bills, they might be able to negotiate better contracts or fees.

What are some small business expenses that you think businesses need to cut out or decrease?

The biggest expense that any business has is their human resources. You should review what you are paying in wages and workers compensation and make sure you are getting a maximum return on the people you are hiring.

Outside Contracts

You should also look at outside contracts to make sure those contracts are producing a return on investment.

Bank Fees

Look at your bank fees. If you feel like you are spending a significant amount on your bank fees, consider changing your bank. I work with Bar Harbor Bank and Trust that doesn’t charge a monthly service charge. If you don’t have a bank that offers free checking, find one.

Loan Interest

Look at the interest you are paying on loans. If you are paying high interest rates, call your broker to find out what you can do to lower your costs. Having a good banking partner can help you with expenses.

Credit Card Expenses

Review what you are paying in credit card expenses. Make sure that either you or your employees are not overusing your credit cards.

How have you seen businesses us simple budgeting in QuickBooks in a powerful way?

I have seen my clients be able to use simple budgeting in QuickBooks to make important business decisions. For example, a company needed to purchase a piece of equipment instead of rent a piece of equipment. That only become apparent when we reviewed their budget in QuickBooks.

What’s the power of QuickBooks budgets?

When you create the new budget, you can bring over the data from the previous year and put it in by month, and then you can edit it. Therefore it’s not just a computer that is crunching your numbers, but you are able to influence the budget.

It also helps you to think about what ifs:

What if I didn’t have this expense?

What if I had higher revenues?

Since I have this revenue, what should I do about expenses?

How can Lee Davis and Company help you with simple budgeting in QuickBooks?

  1. We could train you to use simple budgeting in QuickBooks.
  2. If you need someone to set up your QuickBooks to use this awesome feature, we could do that.
  3. If you would like someone to help you get your books in order so that you could use simple budgeting, we could help you do that.
  4. We would also love to help you get control of your expenses and stick to your budget by managing your business.

Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

We are looking for a bookkeeper. 

Hello, if you are reading this post, perhaps you might be a bookkeeper or know someone who is a bookkeeper. 

At Lee Davis and Company, we are looking to hire a bookkeeper to service the ever-growing number of clients that we have on our roster. 

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis 

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks

Is QuickBooks right for me?

Is QuickBooks right for me? That’s your question. you are trying to answer. We, at Lee Davis and Company can help you with that.

My Papa, Lee Davis is an expert in QuickBooks and small business management.

Here is what Lee Davis has to say about the question: Is QuickBooks right for you?

Before you get started in QuickBooks you should consider your business needs and ask the question is QuickBooks the right business tool for you?

Consider the following things:

Quickbooks is a great tool.

It makes accounting so much easier by translating the foreign language of accounting into lay terms so that anyone can understand it, regardless of your background in accounting.

QuickBooks requires time and commitment.

In order for you to be successful, you need to spend some time working in the software. Just like any new form of technology, there is a learning curve.

At the beginning, you might feel overwhelmed, but as you become familiar with the software, your initial difficulty wears off.

If you would like an easier transition, check out our training course. We would love to help make your transition to QuickBooks as easy as pie.

Get trained.

You could, of course take our training course, which is an intimate class with no more than 7 students, lots of hands on learning and an opportunity at the end to have one-on-one coaching from me.

If you would like a more traditional course, there are other brands that you could consider, such as Real World Training. They offer a two-day training course, that costs $550.00.

Should you hire a bookkeeper?

Many small businesses often start out not being able to afford a bookkeeper; however for many small businesses it may be a necessity.  A bookkeeper may allow you to focus on running your business and focusing on your craft.

Check out our bookkeeping services to see if hiring a bookkeeper is right for you. This option takes a huge burden off of you, and we would be very happy to do that for you.

Get a QuickBooks Pro-Advisor to set up your QuickBooks.

Using a Quickbooks Pro-Advisor for training or for your bookkeeping allows you to get setup correctly and follow-up training.

The set up of your QuickBooks is very important. You want to have your books running perfectly. This only happens if you have a good programer for the QuickBooks software, a QuickBooks Pro-Advisor.

A QuickBooks Pro-Advisor knows exactly how to set up your QuickBooks. After that, the software will do most of the work for you.

Check out our post on post on Trouble Shooting for Setting up QuickBooks.

Good data in good data out. 

Detailed financial reports save time and money. That’s why QuickBooks is a valuable tool. You could keep a spreadsheet of all of your transactions and the totals for each category you might have in QuickBooks, but then you wouldn’t have access to the reports that QuickBooks provides.

The financial reports allow you to make more strategic decisions in regards to your business.

What part of your business is losing money?

How much do you have to make to break even?

How much are you spending on a daily, weekly, or monthly basis.

All of these things are just clicks away. That is why QuickBooks is right for you.

Did Lee Davis, my Papa convince you?

Did he answer your question: Is QuickBooks right for me?

It’s definitely right for me. I don’t have much of an accounting background, and I would love to be able to see how my business was doing daily. QuickBooks is the perfect software to help me do that.

I also need my Papa, Lee Davis to help me with set up. That’s what I learned from writing my post on Trouble Shooting Setting up QuickBooks.

Our training at Lee Davis and Company:

My Papa, Lee Davis has designed a course for his clients that he would love to share with you. While you could do the Real World Training course that QuickBooks offers, you might want to hire someone who would be available to answer questions after the course is over.

That’s the advantage of hiring Lee Davis and Company to do your training; we are a small business that really cares about each and every client we serve.

Training is also a passion for my Papa, Lee Davis. He loves teaching his QuickBooks course and helping his students master the QuickBooks software.

What can Lee Davis and Company help you with that relates to this post: Is QuickBooks right for me?

Lee Davis and Company would love to help you by:

  1. Set up your QuickBooks.
  2. Train you on how to use your QuickBooks.
  3. Manage your QuickBooks.

We would love to be the company that helps you rock your books so that you can rock your business. That’s what makes us happy.

Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

We are looking for a bookkeeper. 

Hello, if you are reading this post, perhaps you are a bookkeeper or know someone who is a bookkeeper. 

At Lee Davis and Company, we are looking to hire a bookkeeper to service the ever-growing number of clients that we have on our roster. 

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis 

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start

Is QuickBooks right for me?

Steps Before Setting up QuickBooks

What are the steps before setting up QuickBooks? If that is your question, perhaps you are like me. You are in the early stages of your building your business, but you are having some success and you now need to set up your QuickBooks.

If you are looking to answer that question: What are the steps before setting up QuickBooks, we, at Lee Davis and Company, would like to help you.

Let’s start by asking my Lee, the founder and CEO of Lee Davis and Company, our resident QuickBooks Pro-Advisor and all around business and QuickBooks expert.

Lee, what should we do before setting up QuickBooks?

Steps Before Setting Up QuickBooks:

Before you install the Quickbooks application, get your documents ready.

Make the process a lot more efficient by getting together the following business information:

Financial Records:

1. All Business and Personal Accounts

This includes bank and credit card statements used to operate your business.

2. Check Registers – used to record checks written. 

The check register will help with the detail on how to record the expense.

3. Credit Card Statements

If you have used your personal credit cards to start your business, gather all the statements and receipts to record them appropriately.

4. Business Income Register 

For companies that have been in business greater than a year, getting together the income you made by all sources will be helpful. 

If you are just starting up, a list of your customers will be helpful. 

If you have daily receipt summaries, they are also helpful.

5. Deposit Slips/Deposit Book

These records of deposits should have all deposits made to your business account.

6. Records of Bills Paid for Expenses

You need to have a record of bills paid for expenses that have been incurred in the operation of your business. 

These bills are important to determine how to correctly account for the expenses in your business. (See our post on expense tracking.)

7. Loan Documents

Compile any loan documents that you have for your business.

Tax Records:

1. Previous Year’s Tax Return

You need a complete copy of your last year tax return.

2. Employer Identification Number (EIN)

Dig up that tax document you got from the IRS, showing your Employer Identification number.

3. State and Local Documents

You might need information that you got from the state or local governments, like unemployment information.

Business Records:

1. Business Plan

If you are considering any type of small business loan, having a business plan is necessary. Check out our guide to getting a small business loan.

If you don’t have a business plan, I highly recommend that you work on that. I have found that it is a very important document to have, not just for your records, but to direct your business.

While that might sound overwhelming, I have discovered a simplified template on the SBA website, the Lean Start Up Plan, that makes putting together a business plan quick and painless.

2. List of Vendors and Customers

You need a complete list of your vendors and customers, along with their addresses including email address.

What are my takeaways from this post, steps before setting up QuickBooks?

1. Keep good records.

I am not a very good record keeper, but I have to become a good record keeper when I start my business.

Tip: I might suggest coming up with and writing down your methods of keeping good records.

  • There are many tricks in QuickBooks that Lee recommends, like using your smartphone to take pictures of your receipts.
  • I also file things on my smartphone, which I love. I just take a screenshot of the file and save it on my phone. This might not be good for some sensitive information, but it works for a lot of things.
  • On your computer, you can also password protect documents and keep them in a file.
  • Perhaps, you should make a file on your computer with all of these documents listed above. It would be useful to have the EIN, business plan and tax returns in the same file on your computer.

2. I need to start keeping these records now.

My business is in its infancy, and because I really didn’t make any money in the first year, I really lost track of my spending and all of the documents that Lee listed.

Because I intend to make money soon, I should be keeping track of all of my expenses and necessary documents for setting up QuickBooks.

Get a checklist for this post.

We would love to help you rock your QuickBooks, so we have made an easy checklist for you to have on hand when you set up your QuickBooks.

We hope that it will help you. If you find it helpful, we would love for you to share it with others who need help with their QuickBooks.

Thanks for allowing us help you with setting up your QuickBooks.

How can we help you with the Steps Before Setting up Your QuickBooks?

We would love to help you with the steps before setting up QuickBooks. There are a few things we could do for you:

We could:

  1. help you sort through your records to come up with the appropriate documents.
  2. set up your QuickBooks for you.
  3. train you before you use QuickBooks.

Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

We are looking for a bookkeeper.

Hello, if you are reading this post, perhaps you are a bookkeeper or know someone who is a bookkeeper.

At Lee Davis and Company, we are looking to hire a bookkeeper to service the ever-growing number of clients that we have on our roster.

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis 

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start

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Location: Across from Toadstool Bookstore parking lot and next to Movie Theater

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