Sales Person
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IC-Home Edition |
| (Situations
that apply to Sales
People classified as employees) |
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This is
not Business Accounting
But, it tracks Business Expenses |
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| Out of Town Travel |
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- need
to look ahead for expenses that need to be paid
--(even if bill not
received) |
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-Shows which expenses
need immediate
attention
-Has "look ahead" to
see which expenses will be due |
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| Scheduling Bills and
Expenses payments |
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| -A
few Companies send reminder emails |
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Automatically
shows Bills and Expenses to be paid |
| -Planned
Expenses need separate scheduling |
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Automatically
shows Bills and Expenses to be paid |
| -Reliance on software
to
schedule activity |
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Automatically
schedules next Due Date for Bills and Expenses to be paid |
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| Promotional Business
Expenses |
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-Promotional gifts
--Save money for
planned gifts
--Set target date for
each gift event
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Expense items can be
established with a
target date:
-amount to spend
-a reminder lead time to start shopping |
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| Holiday based
Business
Expenses |
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-Holiday
Gifts by individual
-Holiday cards mailings
--Buy cards
--Postage |
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Expense items can be
established with a
target date:
-amount to spend
-a reminder lead time to start shopping |
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| -Other Business Related
Expenses |
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-Buy a new PC,
-Buy new tools,
-Buy new briefcase,
-Buy GPS for car travel,
-Other non-planned expenses,
-License renewals
-Business insurance
premiums |
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Expense items can be
established with a
target date:
-amount to spend
-a reminder lead time to start shopping
-recording deposits allows for funds to be allocated toward expenses
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| Tax Filing |
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-Gathering
and tallying unreimbursed sales expenses
-Need to separate Business expenses
for IRS tax reporting |
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-just
define an expense type and set it as tax deductible (only once)
-when the expense is paid, amounts are automatically accumulated
-automatic tracking tallies to
the corresponding tax form reports |
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| Miscellaneous Issues |
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| -Little time for checkbook balancing |
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Balancing is
just a few
clicks
-place a check mark next
to payments and deposits that ckeared the bank
checkbook
balancing report printed with a click of the mouse
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| -Some
expenses are reimbursable other are not |
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-define
reimbursable expenses
-define non-reimbursable expenses (they are tax deductible) |
-Some
Expenses are paid with Cash
(-Tolls
or Parking; -Bellman;-Luggage
Handler; gasoline) |
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-when
an expense is paid, just indicate how it was paid |
-Some Expenses are
paid by check from personal account
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-just
tell the program that the expense was paid with cash
-the previously withdrawn is replenished
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-Some
Expenses are paid with Personal Credit Card |
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-when
an expense is paid, just indicate how it was paid |
| -Some
expenses are paid with Cash, check and credit |
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-when
an expense is paid, just indicate how it was paid |
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| Checking Account use |
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| Same
checking
account used
for personal and Sales related expenses |
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-Individual tracking provides for the
distinction of each expense
paid;
-define once personal and sales
related
expenses
-expenses are automatically tallied by expense group and type
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Separate
checking account used for Sales
related expenses
-Have two or more checkbooks |
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-Manages multiple
checking accounts |
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| Credit Cards use |
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| Same
credit cards used for personal and Sales related expenses |
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-when
an expense is paid, just indicate how it was paid
-amounts automatically flow to the proper reports |
Separate
Credit Card used for Sales related
expenses
-have only one
checking account and pay the
card from that checking account
-not all stores accept all credit cards |
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-Individual
tracking for distinction of each item
charged;
-Expense payments are
carried to the corresponding line for tax
preparation reports |
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