MLM Easy Money Frequently
Asked Questions
Question: Can MLM Easy Money keep track of more than
one network marketing business at the same time?
Yes, the program is designed to manage up to 3 independent
businesses, with separate summaries and reports for each one.
Question: My company charges me sales tax based on the retail
price of the product everytime I make a purchase. Can the program be
set up to calculate this tax automatically?
MLM Easy Money's tax settings allow you to
specify how sales tax is calculated on both sales and purchases. If
you pay sales tax to your manufacturer, the program also handles the
crediting of any sales tax you collect on product sales.
Question: Since I consume a lot of the product I buy, I
decided to get a resale license and take care of sales tax myself.
Will the program help me determine how much sales tax I owe?
The program's Sales Tax Report keeps track of your taxable sales as
well as how much tax you've collected, so you can easily determine
your tax obligation, and whether or not you're putting aside
sufficient funds to cover it.
Question: I hear a lot about the Year 2000 problem with
computers. Will MLM Easy Money still work after that date?
MLM Easy Money is Year 2000 'compliant',
and will continue to function properly after that date. All year data
is stored in a 4-digit format, so the year 2001 is no more of a
problem than the year 1998.
Question: Will the program help me plan my income tax strategy?
The program helps you plan for taxes in two ways. By keeping you
aware of your net (pre-tax) business income, you can easily estimate
the amount of tax you owe at any given time. This not only allows you
to set aside sufficient funds, but also to make better decisions
regarding the value of a planned expense deduction.
Question: When I purchase product from my company on an
automatic monthly purchase, I pay a different price and different
freight and tax, than when I purchase otherwise. Can the program help
me with this?
The Special Purchases tool allows you to memorize up to 25 custom
purchases for each of your active businesses. These can then be
recalled with a click of your mouse, even if the price, tax and
freight are different than they would be for a regular purchase.
Question: When I sell product, I usually do it at my own
cost, since my goal is to get people interested in doing the
business. Can MLM Easy Money be configured to do this for me?
The Cost Recovery option causes the program to enter a product's
cost, rather than its retail price, anytime it's selected on the
Sales screen. By selecting this option, and configuring the freight
and tax settings so that they match those used for product purchases,
the program can be made to automatically determine the sale price
necessary to recover your original investment.
Question: I'd like to be able to keep track of my downline,
as well as prospects that I'm talking to about the business. Is there
any way for me to keep track of who's in which leg, so I can do
mailings to certain parts of my downline from time to time?
The Filter option on the Contacts screen allows you to separate out
the names and addresses of contacts you've assigned to a specific leg
of your organization. It also allows you to specify which levels of
that leg you want included, and to print address labels for those
selected if you choose.
Question: I have a number of different books and tapes I use
to get people interested in the business. Can I keep track of who's
got what using this program?
The Resources box on the Contacts screen allows you to instantly
update a prospect's record to show which tapes or books you've given
them and when. You can also set a follow-up appointment to
automatically remind you when it's time to check back and see how
they're doing.
Question: I understand that the IRS requires you to keep
additional records for certain kinds of expenses. What information is
required, and how do I keep track of it in the program?
Travel, meals, entertainment and mileage deductions, all require
additional recordkeeping, according to IRS Publication 463.
MLM Easy Money's Expense Wizard TM
automatically prompts you for this additional documentation each time
you record one of these expenses, and includes the entries in the
Expense History printout for tax documentation purposes.
Question: Does MLM Easy Money ever get upgraded, and
if so, what will it cost me to stay current?
MLM Easy Money is a rapidly evolving
program, based on the continuous input we get from people just like
you. Kynetics Software's upgrade policy has always been, and will
always be, to make the most current version of the program available
to all registered users, either on a complimentary basis, or for a
nominal charge. Kynetics is founded on the idea that customers are
our best salespeople. Ensuring that our 'salespeople' always have state-of-the-art
sales tools just makes good business sense. It's also our way of
saying thanks for your support!
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