When it comes to managing your business’s financial health, understanding and analyzing financial statements is crucial. Financial statements provide a snapshot of your business’s financial performance, allowing you to make informed decisions and plan for the future. In this blog post, we will explore the three primary financial statements: the balance sheet, income statement, and […]
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Accounting/Bookkeeping
Among those activities, financial reconciliation plays a vital role in keeping your finances and your business on track. Here’s what you should know about financial reconciliation and how it can help your business. What is financial reconciliation? Financial reconciliation is a process of ensuring your financial records are consistent and accurate. Basically, when you conduct
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Accounting/Bookkeeping
Here are more reasons why your business should consider eliminating paper receipts all together. 1. Digital receipts decrease costs Receipts eat into your profits. It costs money to buy the paper and the ink which is more than it costs to simply email receipts to clients. Your business saves money by not printing receipts for
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Accounting/Bookkeeping
Here are some of the benefits of outsourcing payroll: 1. Increased accuracy and compliance Outsourcing payroll to a specialized provider ensures accuracy in processing paychecks and taxes. Payroll providers have experts who keep up with changing tax laws and regulations and can ensure compliance with government requirements. By outsourcing payroll, businesses can avoid errors that
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Accounting/Bookkeeping
Here are bookkeeping and accounting tips for small business owners to keep you on the rails of success. Protect your business and reduce your stress by avoiding these five costly bookkeeping and accounting errors. Mixing personal and professional finances From day one, business owners should have a separate bank account in which to deposit their
Bookkeeping & Accounting Tips for Small Business: 5 Things to Avoid Read More »
Accounting/Bookkeeping
1. You’ll make better decisions You can only make informed decisions about your business when you have a full picture of your current financial situation. That means knowing how much money is in your accounts, what your cash flow forecast predicts, and how much money you owe. Without that information, it’s much more difficult to
3 Reasons to Prioritize Bookkeeping Read More »
Accounting/Bookkeeping
Wondering if it’s really worth the aggravation? Consider outsourcing the bookkeeping function to avoid the aggravation while leveraging the benefit of hiring someone to professionally manage your books. Read more about our monthly bookkeeping solution. Here are reminders on the benefits of bookkeeping and its contributions to small business success. Keeping track of expenses A reliable
Benefits of Bookkeeping: A Contribution to Small Business Success Read More »
Accounting/Bookkeeping
These four steps will help you get through the process with minimal stress and the best possible outcome. 1. Respond promptly Generally, if you file your taxes reliably and pay on time, there’s a good chance the government tax office contacted you for a spot check. In this case, all that may be asked is
Small Business Audit: What to do if you get audited? Read More »
Accounting/Bookkeeping, Tax
The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask the accountant these four important questions. 1. What’s my best strategy for increasing revenue? Every business owner strives to improve profit margins, but the best way to quickly and sustainably grow revenue will vary
Four Questions to Ask the Accountant Read More »
Accounting/Bookkeeping, CFO Consulting, Tax
An established, growth-focused company will employ the services of both an accountant and bookkeeper. The two professionals work in tandem to ensure business financials are up to date, accurate, and carefully monitored. If you are in the early stages of your business, you might choose to do the bookkeeping yourself or hire a bookkeeper part
What’s the difference between a bookkeeper and an accountant? Read More »
Accounting/Bookkeeping
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