What tasks do you perform for your business that give you the most return on your investment? Is bookkeeping one of them? Doubtful. Sure, you need up-to-date, accurate numbers so you know how you’re performing, but in and of itself, keeping the books does not generate any income. What if you could outsource this job to […]Read More
If you’re not suffering from staffing issues, you’re in better shape than most small business owners these days. Because of the lack of staff, many owners are doing tasks they thought they wouldn’t have to handle anymore. One solution to your time crunch is to relieve yourself of activities that are non-revenue-generating, such as bookkeeping. […]Read More
It’s not healthy to only be known for your work ethic, yet that is the situation many small business owners find themselves in. Is your company in the driver’s seat? Take this short quiz: Are you stressed, anxious or exhausted most of the time? How’s your physical health? Your mental health? Do you have a life […]Read More
America is experiencing a labor shortage unlike any in our past. With employees taking non-traditional jobs, retiring early and starting their own businesses, organizations across sectors are struggling to stay fully staffed. Here are four sets of actions you can take to address the worker shortage: Make the work more gratifying and viable for the long-term, improve […]Read More
What’s the value of a balance sheet? It can help you know your company’s net worth, how much money you have made, and where your equity is located. Balance sheets are also essential for attracting investors, securing loans and selling a business. What is a Balance Sheet? The balance sheet provides a picture of your […]Read More
Bookkeeping is the practice of tracking financial transactions so you see exactly what you are spending, where your revenue is coming from, and which tax deductions you can claim. Why it is important: It helps you catch more deductions on your taxes. When you log every transaction by category, you know at a glance which […]Read More
A common woe of small business owners is falling behind on bookkeeping. That can be a problem for three reasons: You might lose track of cash flow and find yourself unable to meet payroll or bills You might not be able make informed decisions about growing your business You could be faced with a big […]Read More
Bookkeepers are responsible for recording every financial transaction in the appropriate place. That can just look like loading your transactions into accounting software. But bookkeeping is more than just transferring numbers into a spreadsheet—it takes detailed analysis and legal knowledge. Your bookkeeper will help you survive an audit by making sure your financial records are […]Read More
Your Bank Account The first thing you need to do, after registering your business with the state, is open a bank account. It is best to have an account separate from your personal account. Open a business checking account first, then a savings account to put aside money for taxes. Many entrepreneurs start with putting […]Read More
At a minimum, you need to know what you owe your vendors and what your customers owe you. You need to create files or online folders for each of these “buckets.” Your Accounts Payable folder will include bills, receipts, bank statements, credit card statements, and proof of payments (credit card logs, bank transfers, cash receipts). […]Read More
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