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Down 2 The Penny has been supporting QuickBooks Online users for over thirteen years. With a primary focus on small professional service businesses, Down 2 The Penny offers a host of customized services and applications that go beyond standard compliance work like bookkeeping.

Growing your business requires discipline and a commitment to knowing where your business currently stands, where it's been and where it's headed. Down 2 The Penny can help you find the financial clarity that you need to make informed decisions while also providing you peace of mind knowing that you have a supportive partner who is invested in your ongoing success.

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52 Ways To Manage Your Small Business Expenses & Increase Your Profits Right Now!

Are you running a small business and struggling to stay profitable? Managing your expenses effectively is key, but it can be overwhelming. Don't worry, Down 2 The Penny is here to help.

Download my free guide and discover 52 practical and straightforward ways to cut costs and boost your bottom line that you can start implementing today! Even small changes can have a significant impact on your bottom line so stop hesitating and grab your free copy today and learn some practical strategies that generate real results.

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The Down 2 The Penny Difference

Welcome and thank you for visiting! Down 2 The Penny Small Business Solutions' core purpose is rooted in a desire to empower entrepreneurs by providing them with the tools and support they need to make sound business decisions. As a small business owner myself, I know how challenging it can be to succeed in today’s competitive market. That's why I bring a personal touch to everything I do. Rest easier knowing that your business is important to me and I am committed to providing the same level of meticulousness and attention to detail that I pour into my very own business endeavors.

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I am Advanced Certified by Intuit in the QuickBooks Online family of products.

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QuickBooks Online Products

Having a well-designed, intuitive accounting system in place is critical when running a small business. The QuickBooks Online family of products gives you the freedom and convenience to manage your business finances from your PC, Mac, smartphone or tablet. Take advantage of discounted pricing of up to 30% off of your first year on new QuickBooks Online subscriptions purchased through Down 2 The Penny Small Business Solutions.

Why QuickBooks Online
✓ Easily track income and expenses	✓ Quickly run financial reports
✓ Manage and pay bills	✓ Monitor sales tax owed
✓ Track mileage	✓ Keep up with 1099 contractors
✓ Send estimates	✓ Capture receipts
✓ Invoice customers and accept payments	✓ All data is protected using industry-standard SSL encryption
✓ Access your books securely anywhere you have online access	✓ Compatible with third-party apps to expand functionality

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Latest News

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Why Establishing An Expense Policy Is Good For Business

By Jeff Ajhar • October 21, 2024

In the fast-paced and sometimes chaotic world of small businesses, managing expenses can be a daunting task. Without a clear and concise expense policy in place, businesses are at risk of overspending which makes it difficult to stay on budget. There is also a greater likelihood of employee fraud which, of course, comes at a cost. To avoid these pitfalls and promote a culture of accountability and transparency, creating a well-defined expense policy is essential for small business owners. The Significance of an Expense Policy A well-constructed expense policy serves as a comprehensive guide that outlines the rules and regulations surrounding company expenses. It helps to set clear expectations for employees, ensures compliance with regulatory requirements and helps to promote responsible spending practices. With an expense policy in place, small businesses can streamline their financial processes, minimize errors, and reduce the likelihood of fraud or misuse of funds. Moreover, a well-structured expense policy fosters trust and transparency within the company. It is a fact that employees are more likely to adhere to guidelines when expectations are clearly outlined and this will result in improved financial management and operational efficiencies. From approving expense reports to reimbursing employees in a timely manner, an expense policy can streamline the entire expense management process and enhance overall business operations. If your small business does not have a formal, written expense policy in place, don’t worry. I’ve got the steps to help you get on track. Steps to Create Your Unique Small Business Expense Policy 1. Define Objectives and Guidelines Begin by determining the goals and objectives of your expense policy. What are the permissible expenses? What documentation is required for reimbursement? Setting clear guidelines will help in laying the foundation for an effective expense policy. 2. Involve Key Stakeholders If applicable, collaborate with finance, human resources or any other key stakeholders or owners to gather insights and input for creating the expense policy. Consider the needs and concerns of employees when formulating expense guidelines to ensure buy-in and compliance. 3. Establish Approval Processes Define the approval process for expense claims, including who is responsible for reviewing and approving expenses. Implement clear protocols for pre-approval and post-approval to ensure consistency and accuracy in expense reporting. 4. Communicate Policy to Employees Once the expense policy has been finalized, be sure to communicate it clearly and effectively to all employees. Provide training sessions or written guidelines to ensure that everyone understands the policy and knows how to comply with its provisions. Owners should consider requiring each employee with purchasing authority to sign a copy of the policy to confirm understanding and a willingness to abide by the established policy. 5. Regularly Review and Update As the dynamics of your business change, it is critical to review and update the expense policy periodically to reflect evolving needs and situations. Regular revisions ensure that the policy remains relevant and effective in meeting your current business requirements.

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A Guide To Safeguarding Your QuickBooks Online Data

By Jeff Ajhar • August 9, 2024

Protecting your financial data is of paramount importance in today's digital landscape. As a QuickBooks Online user, there are essential security measures that you should implement to safeguard your sensitive information. Let's take a look at some best practices for securing your QuickBooks Online data to ensure that your financial records remain safe. Best Practices For Keeping Data Safe Strengthening Your QuickBooks Online Security One of the first steps in securing your QuickBooks Online data is to prioritize comprehensive access controls. This begins with the use of strong passwords, two-factor authentication and careful management of user permissions to limit unauthorized access to sensitive information. Make it a point to regularly review your active user accounts and remove any unnecessary or inactive users to minimize the risk of sensitive information being accessed by those that shouldn't have access to it. Additionally, ensure that your QuickBooks Online account is connected to a secure internet connection. Avoid using public Wi-Fi networks when accessing your QuickBooks Online data as these can leave your information vulnerable to cyber threats. Always consider using a virtual private network (VPN) to encrypt your internet traffic when away from your home or office to enhance the security of your online activities. In many cases, your internet security software will include a secure VPN application that you can use. Implementing Effective Backup Strategies Backup and disaster recovery are crucial components of a comprehensive data security plan. Since QuickBooks Online is a cloud-based application, Intuit routinely backs up your QuickBooks Online data to ensure that your financial records are protected in the event of a system failure, natural disaster or cyber attack. However, it is important to note that, outside of QuickBooks Online Advanced, standard backups performed by Intuit are done so at the server-level at periodic intervals. They are not real-time backups. This means that if you have a need to restore your data, it can only be returned to the point in time that the last server backup was performed. For greater flexibility and safety, it is best to consider a third-party solution that allows restoration to a specific point in time. When selecting a backup solution, look for options that offer secure, encrypted storage and the ability to restore your data quickly in an emergency. Additionally, ensure that your backup process is automated and that you have the ability to regularly test your backups to verify their integrity and reliability. Staying Vigilant Against Cyber Threats Cybersecurity threats, such as phishing scams, malware, and ransomware can also compromise the security of your QuickBooks Online data. Educate your employees on common cyber threats and how to recognize and report suspicious activities. Implement strong antivirus and anti-malware software to protect your internal systems from these malicious threats. Furthermore, stay up-to-date with the latest security updates and patches for any applications you use that integrate with QuickBooks Online as well as any devices that you use to access your financial data. These regular software updates will help address vulnerabilities and strengthen your overall financial workflow security.

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Unraveling the Mystery of Small Business Credit

By Jeff Ajhar • June 17, 2024

As a small business owner, you're likely no stranger to the world of personal credit, but did you know that your business has its own credit profile, separate from your personal one? Business credit is a critical component of your company's financial health and understanding it is essential for making informed decisions about your business's future. Let's delve into what it is, how you maintain a strong credit profile and what small businesses can do to improve their credit status. Navigating the Realm of Business Credit Business Credit and the Foundation for Growth In simple terms, business credit refers to the creditworthiness of your business, based on its financial history, payment habits and credit utilization. A strong business credit profile can open doors to new opportunities, such as access to loans, credit cards, and other forms of financing. It can also help you negotiate better interest rates, terms, and contracts with suppliers as well as increase your credibility with potential partners and investors. On the other hand, a weak business credit profile can limit your business's growth potential, increase the cost of borrowing and make it more difficult to establish relationships with vendors. Business credit is often measured in the form of a report with a score similar to what is done when assessing personal credit except that the scoring range is typically different than those associated with FICO scores. The Experian Intelliscore Plus , Equifax Payment Index and Dun & Bradstreet PAYDEX models provide a range of scoring between 0 and 100 while the FICO LiquidCredit Service model uses a scale that ranges between 0 and 300. Unlike consumer credit scores that can be accessed for free, business credit scores often require a paid subscription plan with one of the aforementioned credit reporting agencies. Maintaining a Strong Business Credit Profile So, how do you build and maintain a strong business credit profile? The process begins with establishing a business credit history. This can be done by: Registering your business with the relevant credit bureaus, such as Dun & Bradstreet, Experian and Equifax Obtaining a business credit card or loan and making timely payments Keeping your business's financial records up-to-date and accurate Monitoring your business credit report regularly to detect any errors or discrepancies In addition to these steps, it's essential to maintain good credit habits, such as keeping credit utilization ratios low, avoiding late payments and diversifying your credit mix. By doing so, you'll be able to demonstrate your business's creditworthiness and build a strong business credit profile over time. Improving Business Credit If your business credit profile is less than stellar, don't worry – there are certainly steps you can take to improve it. Here are some valuable tips to get you started: Pay your bills on time, every time. Late payments can significantly lower your business credit score. Keep your credit utilization ratios below 30%. This will show lenders that you can manage your debt responsibly. Don't apply for too much credit at once. This can raise red flags with credit bureaus and lower your score. Consider working with a business credit consultant or financial advisor to help you navigate the process. By following these tips and maintaining good credit habits, you will be positioned to improve your business credit score and overcome prior credit hurdles.

Professional Certifications

I am dedicated to offering my clients an exceptional experience when working with me. To that end, I am constantly striving to expand my QuickBooks Online knowledge and know-how. That’s why I have chosen to complete Intuit's rigorous QuickBooks Online training program. This commitment to ongoing product education has earned me the prestigous title of Advanced Certified QuickBooks ProAdvisor. I am also a proud Certified Method: CRM Partner showcasing my expertise in the premiere CRM application that seemlessly integrates with QuickBooks Online.

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Certified Advanced QuickBooks Online ProAdvisor

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