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/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
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Accounting/Bookkeeping
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.
7 Tips on How to Adjust for Inflation Read More »
CFO Consulting
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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CFO Consulting
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
The following is meant to be a general list for business owners to reference. Not all items on this list will apply to your specific situation. Your accountant will provide you with guidance on the items needed for your business return. 1. Your books Making sure your business books are reconciled and up to date
Your Small Business Tax Preparation Checklist for 2022 Read More »
Tax
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