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Dec 5, 2017

5 Easy Ways You Can Prepare For a Stress-Free Tax Season


It is tax time, and I know it is hard to contain your excitement! You may find this hard to believe, but, some people are not ready for tax season….shocking, we know. But, have no fear, UnitWise is here and available to help you make your tax season a breeze. Here are five easy ways you can prepare for a stress-free tax season.

5 Easy Ways You Can Prepare For a Stress-Free Tax Season

You might consider this post slightly premature but let's think back to last tax season? Did you wait until the last possible moment or were you prepared? Well, thankfully you have UnitWise on your side helping you prepare invoices, track sales, expense reports, and more.

1. Update Account, Expenses, and Income

As a UnitWise member, you have access to tons of accounts and reporting features that keep up with all your expenses. We offer premade accounts and reports that calculate your commission and saving, but at any time you can create additional reports that fit your needs.

For example, you can create reports based on your checking, credit amounts, or monthly bills. Within your account click edit in the action tab and enter the new expenses or change the balance of each account to manage your bills, expenses, and income.

Our Trip Logs feature allows you to track your travel expenses making it easier to manage tax information. Enter the details of your trips by clicking Account then Trip Logs within your UnitWise account.

2. Sales Receipts and Invoices

When a customer pays in full for an order, a receipt is created, and an invoice will be generated if a customer places an order without paying. UnitWise users can generate an invoice by clicking on invoices within their account. Here you will be given a list of your customers with all their information. Once the customer has been selected, enter the product names, quantity, and sales total. From here your inventory on hand will automatically be updated to reflect.

3. Manage Inventory on Hand

Import your inventory orders directly from InTouch using your UnitWise account. You can import orders up to 45 days after shipping. This transfer will take place in the background of your UnitWise account so you can continue to manage other aspects of your MK business.

As you update or create invoices or sales receipts, your inventory levels will automatically update based on your products sold.

4. Personal Use and Demo Products

Track your inventory items under the Customer Center. Here you can view the purchase history of each of your clients. In addition to customers, you can create an account labeled Personal Use or Demo Products. You can then generate an invoice for that specific statement and view the total amount of products used.

5. Year-End-Tax Report

After you have reviewed your account information for accuracy you can then go to your account Home > Reports and run all reports in the Year End/Tax Section for your fiscal year. Remember that your Personal Use/Demo/Donations can be used as tax write-offs.

Your Heroes at UnitWise Are Here to Help

While we are not professional tax preparers, we will be here for you every step of the way. We want to ensure that your upcoming tax season is as stress-free as possible. If you have any question about our features or how they work, don’t hesitate to contact us.


*Content found in the UnitWise blog is for informational purposes only. UnitWise is an independent business with no affiliation to Mary Kay®.


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