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 […]
Setting business financial goals for 2023 Read More »
CFO Consulting
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
Bookkeeping & Accounting Tips for Small Business: 5 Things to Avoid Read More »
Accounting/Bookkeeping
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
3 Reasons to Prioritize Bookkeeping Read More »
Accounting/Bookkeeping
Here’s why your small business might want to consider the benefits of working with a virtual CFO. High level decision making A virtual CFO can analyze your company finances and provide expert advice to help you make more informed, strategic decisions for ongoing profitability. That senior level financial oversight can help you understand any risks or
How “Virtual CFO” Services Can Help You Grow Your Business Read More »
CFO Consulting
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 that you provide receipts and answer a few questions. Give the tax office the information they’ve requested promptly so they can
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
Want to avoid paying more than you should come tax time? Or a frantic last-minute search for missing financial records? This post is about providing guidance on tax planning for small business owners. New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial
Tax Planning for Small Business Owners Read More »
Tax
The outsourced bookkeeping benefits are numerous. These benefits include; working with an industry professional, receiving valuable financial guidance, saving time managing the finances, and saving money outsourcing the accounting function. Let’s talk about outsourced bookkeepers. Here are four benefits to hiring an outsourced bookkeeper to help you manage your business finances. Expertise An outsourced
Outsourced Bookkeeping Benefits Read More »
Accounting/Bookkeeping
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