Saturday, November 12, 2022
I am always looking for cost cutting business moves, so last month when I decided to move my business address from Columbia, MD to Hanover, MD I knew I had several tasks to complete- in preparation for this change. Cost cutting? Since I reside in Hanover, MD I am making the trip to my business address much shorter.
My original attempt to notify the Maryland Department of Assessments and Taxation of the address change failed because I used the wrong form and did not remit a $25.00 payment to have the amendment recorded. The check was debited from my business checking account on November 10, 2022.
Another of my business cost cutting moves? In July 2016, I decided because I seldom write checks, to start printing my own for both my business and personal checking accounts. I discuss my custom check templates in this July 2016 blog post. See the image below for more on the blank checks I ordered.
Recently, I mentioned the keyboard on my Acer Windows XP Netbook is malfunctioning, so I am moving tools to other platforms. I developed the custom check templates using the Publisher version that came with Microsoft Office 2000 Professional version. Happy to report, had no problems converting the custom check templates from Office 2000 Publisher to Microsoft Office 365's Publisher version. See the illustration below.
In the above referenced blog post, I mention I use the Sunset version of Microsoft Money for Business (no longer available online for download). I used GNUCash for many years, however had too many issues so decided to use Microsoft Money for Business instead.
I mention this because I have been researching Quickbooks both as a developer and for use with my business, and believe I have the most cost effective solution for my business and personal finances.
One of the big advantages of Quickbooks over Microsoft Money for Business, is its ability to interactively communicate online with all of your banks to ensure account synchronization. I use both the Net Worth service offered by my personal primary bank (Bank of America) and my online Mint account to ensure all of my banks align with my offline copy of Microsoft Money for Business.
At this time, I do not mind I have to input some of the data to MS Money. Recurring debits, transfers, and deposits are automated, however a lot of the data is not. Bank of America and Mint use automated processes or aggregators to access real-time account balances from external account references.
I also use the non-business Sunset version of Microsoft Money to maintain financial and tax information for someone close.
I have to say, without Microsoft Money the cost to maintain these financial records would be a lot. I have cash assets that I need to be able to move quickly, especially now with the Fed's moves on interest rates. I am able to maintain this financial data effectively and efficiently with the Sunset versions of Microsoft Money.
Below, an illustration of some of the accounts and features I use with my version of the Sunset version of Microsoft Money for Business.
When will the business address change go into effect? The state has not updated the online business information, however I have begun to add the new address to some of the many areas I will need to update.