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Situation

What’s your situation? What is your capacity, today, to pursue a new opportunity? If something exciting, or life-changing comes your way, can you act? Situation is composed of a number of domains. Some are obligatory. I owe money to the bank. I have a mortgage payment. I have promised my employer that I will work […]Read More

Gross Margin

Gross Margin, perhaps our favorite accounting metric here at BookWerksTM, is calculated by subtracting what your product or service cost you (Cost of Goods Sold, or COGS), from what you sell your product for (Revenue). We typically express this as a % of Revenue. For example, if you sell an item for $9 that costs […]Read More

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Which is Better? QuickBooks or Xero?

While we use both systems here at BookWerks™, we prefer Xero to QuickBooks, because it is fun, innovative, user-friendly and cloud-based. There are no software upgrades to buy or install, and no problems with incompatible versions. In comparing Xero vs. Quickbooks, we have found Xero to be the better accounting option for our small businesses and entrepreneurial clients. Xero’s customizable dashboard is well-organized, easy to read and simple to navigate. You can display current bank balances, your Account Watchlist, and what bills need paying soon. Everything to do with running your business is found in the Business module, including options for invoicing, preparing quotes and making payments. Xero’s reports are attractive, highly-readable and just a few clicks away at any time. With a minimalist user experience, Xero is intuitive. Clients often ask our opinion on which to use. After trying Xero, these callers always report liking it better than QuickBooks.