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If you work in a state that requires the employee and the business to pay into workers compensation, such as Washington, you will need to do the following to set it up ( Assuming you want/need to track in Payroll – This is not necessary in all states ) : Setting up the Businesss [...]
In case you missed our recent weekly webinar, in which we demo’d the new scanTag feature in Lizzy that is used for Service Ticket Creation, in today’s blog, I’m going to describe just what scanTag is and how it is used within Lizzy. scanTag is a new feature that was added to Lizzy about a [...]
Frequently, when filling out our monthly ( or quarterly ) tax forms to send our sales tax payments to the state, we run across the issue where they want more detail on our “Exempt” taxes. ( If your lucky enough to do business in a state that doesn’t care – congratulations! ) But many states [...]
One of the confusing things with Lizzy is when you are told to make adjustments to your Owner’s Equity/Retained Earnings account. And it will never fail to throw your accountant into a tizzy. So let me explain what we mean, and why we mean, to help smooth things over with your accountant. Also, for the [...]
How does Lizzy handle her accounting? The answer to that is that she runs an Accrual Accounting Basis, with a slight exception regarding invoicing. First – why Accrual Basis? Well – lets define for us cash-basis vs. accrual-basis accounting. Cash basis is where income is not counted until cash (or a check) is actually received, and [...]