CPA Blog | Liguori Accounting

Financial Metrics Every Small Business CFO Should Track

May 23, 2023

Gross Profit Margin: The gross profit margin is a fundamental metric that measures the profitability of your products or services. It represents the percentage of revenue that remains after deducting the direct costs associated with delivering your offerings. By monitoring this metric, you can assess your pricing strategy, evaluate the efficiency of your operations, and […]

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Choosing the Right Business Structure

May 10, 2023

In this blog post, we will discuss the four most common business structures: sole proprietorship, partnership, limited liability company (LLC), and corporation. Sole Proprietorship A sole proprietorship is the simplest business structure, where a single individual owns and operates the business. The owner has full control over the business and assumes all liability for its

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Using Financial Reconciliation to Keep Your Business on Track

April 26, 2023

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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Considering Digital Receipts for Your Business

April 12, 2023

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 every customer. On a per-unit basis, receipts might not seem like a big cost.

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Accounting/Bookkeepingaccounting education, Liguori Blog, small business

Benefits of Outsourcing the Payroll Processing Function

March 1, 2023

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

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Accounting/BookkeepingLiguori Blog, Outsourced Accounting, Payroll

7 Tips on How to Adjust for Inflation

February 15, 2023

1. Study your data Your numbers are always helpful, but in times of rapid inflation, you’ll be especially thankful that you keep a nice, clean set of books. Analyze your data to learn what products and services make you the most money, which ones cost the most to offer, and identify where you can save.

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What is a fractional CFO?

February 1, 2023

Navigating Challenges Small businesses and startups typically have a streamlined staff, which keeps costs down and allows the business owner to focus on healthy growth. But sometimes, a financial challenge comes up that is beyond the skill or experience level of those on the team. This is where a fractional CFO can be of great

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Setting business financial goals for 2023

January 18, 2023

You’ve got to see where you’re coming from to know where you can realistically go. At year’s end, review the business financial goals you set last year and use your numbers to see how you measured up. Whether or not you met your goals, that information is valuable. What circumstances enabled you to meet your

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Bookkeeping & Accounting Tips for Small Business: 5 Things to Avoid

December 21, 2022

From day one, business owners should have a separate bank account in which to deposit their income and pay their business expenses. It’s also crucial to designate a business-only credit card. Come tax time, separate statements will make submitting claimable expenses quick and easy, while reducing the risk of a painful audit. Letting accounts receivable

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3 Reasons to Prioritize Bookkeeping

December 7, 2022

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 know when you can afford

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Accounting/BookkeepingAccounting, bookkeeping, Liguori Blog, Outsourced accounting & bookkeeping, small business