DataCraft News | December 2008

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Season's Greetings from DataCraft!

Note from Monica
Merry Christmas and Happy New Year!
Welcome to our newsletter. I hope it finds you healthy, happy, and prosperous in spite of what we see and hear in the news.

Most of us are trying to find a silver lining in the economy. While it's tempting to hope that someone else can "fix" the overall economy and its impact on our individual businesses, each one of has the power to hang on and even grow through the recession. As a leader, you are looked to by your family, your employees, and your coworkers to lead the way. Here are a few thoughts about how to do that:

Practice positive thinking. According to the Mayo Clinic, positive thinking may actually provide health benefits including "better coping skills during hardships", "decreased negative stress", and "greater resistance to catch the common cold". Try it - it's portable, non-fattening, and free. I'm feeling better already!
Avoid negative or irrational self-talk. Go ahead, admit it. We ALL talk to ourselves whether aloud or through our thoughts. When our self-talk is predominantly negative, we risk losing focus and hinder our ability to reason and solve problems. Do you:

               Overemphasize negative aspects of a situation and filter out the positive?
               Personalize bad events and blame yourself?
               Tragedize by expecting the worst to happen?
Come on, lighten up on yourself!

Understand your numbers. Author, business coach, and all-around great guy Ole Carlson states in Beneath the Armor, "Understanding your numbers is not an option... You are in business to make money. Get everyone's attention." You can start by determining what the most critical success factors are for your business. Next, figure out how those factors can be measured. And finally, track and communicate your progress. Whether the news is good or bad, you will have the information you need to make intelligent decisions.

The Business Cycle Dating Committee of the National Bureau of Economic Research declared on November 28, 2008, that U.S. economic activity peaked in December 2007 marking the beginning of our current recession. Recession is defined as "... a significant decline in economic activity spread across the economy, lasting more than a few months...", begins when the economy reaches a peak in activity, and ends when an economic trough is reached.

Although it may seem that the current economic conditions are mines waiting to blow up, consider Civil War Admiral David Glasgow Farragut's words; "Damn the torpedoes! Full speed ahead!" You're an American small business person, you're a leader, you can do it!

DataCraft Accounting Services
It's hard to believe that we're already in the middle of December. The year is quickly drawing to a close and we're all busy trying to wrap up this year while getting into gear for 2009.
But don't become overwhelmed with all that this time of the year brings us; let Kathy and Nona, our accounting experts, help you with your year-end closing process.
Kathy and Nona are also able to help you with your accounting services year-round including:

Monthly, quarterly, and annual financial statement preparation including, cash disbursements, cash receipts, sales transactions, and journal entries
Payroll processing
Payroll tax deposits
Quarterly payroll tax returns
Bank reconciliation
Sales tax preparation
Worker's comp insurance audits

You have enough to worry about, so let DataCraft help you take care of your accounting.
For more information about our accounting services, please visit our website or give us a call at 815-965-9800.

Best wishes this holiday season from all of us at DataCraft!

10 Reasons why you shouldn't care about accounting
Business owners really know how to provide quality products and great services for their customers. But when it comes to simple accounting basics that can impact the success of their business, many business owners are left in the dust... (click here to continue reading)

Microsoft CustomerSource Page
Did you know that if you are a Microsoft Dynamics GP customer that you have access to the latest Microsoft training, white papers, and service plan options at your finger tips? Did we mention that it's all free?
If you missed the Microsoft Dynamics Customer Roadshow in September, you might not be aware of Microsoft's CustomerSource site. The user-friendly page is full of valuable resources that can help you use your GP software more efficiently. Click here for more information about the Microsoft CustomerSource page.

FAQs on TRAVERSE and OSAS Enhanced Payroll and Tax Reporting
Have some questions about Enhanced Payroll and Tax Reporting? Here are some frequently asked questions (and answers!) for TRAVERSE and OSAS.

Attention QuickBooks users! QuickBooks 2009 offers new and improved features
Intuit, makers of QuickBooks, listened to what customers had to say and used their suggestions to help develop QuickBooks 2009.
The 2009 package now includes a client data review center and improved versions of the accountant's copy and bank reconciliation. For a more complete view of how QuickBooks 2009 will help you work smarter, click here.
If you have any questions about QuickBooks, have no fear, Nona -our QuickBooks guru- is now a Certified QuickBooks Enterprise and Pro Advisor for QuickBooks 2009.

Ask the Bean Counter
Have a question about business systems, accounting, or those pesky financial ratios? The Bean Counter is here to help! Submit your questions, and our Bean Counter expert will get back to you with an answer.

Just a thought...
"To find joy in your work is to discover the fountain of youth"
- Pearl S. Buck

Business Clarity