Bookkeeping

7 Tips to Get Your Small Business Accounting Practices in Order

You’ve recently launched a new business and it’s started to grow. Now is the best moment to get organized and pay some attention to all accounting related issues. Every business owner has to make a detailed to-do list and stick to it at all times. That way, all emerging challenges can be taken care of as soon as possible. Go ahead and keep reading, since it will help you to get … [Read more...]

What is a P&L, or Profit and Loss Statement?

A P&L is a financial statement that summarizes all the revenues, costs and expenses that a business has incurred over a period of time.  The P&L is a helpful snapshot of the company’s ability to generate profits, either by increasing revenues or by reducing costs and expenses. Usually P&Ls are reported quarterly or on an annual basis, as part of a company’s … [Read more...]

5 Money Management Tips for Your New Small Business

There is nothing more exciting than making that first sale or obtaining that first client for your new small business. After all your hard work, your “baby” is off and running. To keep that momentum going, however, you need to put some clear money management practices into action. Here are five tips to get you started. Keep Accurate Records Get into the habit early and you … [Read more...]

Seven Accounting Solutions for Your Small Business

Benjamin Franklin once wrote, “In this world nothing can be said to be certain, except death and taxes.” And to that, many a small business owner can add accounting. As a small business owner, you naturally want to spend your time making your product or service the best it can be, not crunching numbers. The problem is that if you don’t spend some time balancing your expenses … [Read more...]

Do You Really Need an Accountant for your Small Business?

As a small business owner, it is natural to try to cut operating costs wherever you can. One of the ways you may be doing that is by managing your own finances. You may figure you can always get help at tax time and handle things yourself the rest of the time. Whether you are a sole proprietor or operate an employee-based LLC or corporation, however, a good accountant can … [Read more...]

Importance of Budget Planning: Avoiding Lost Opportunities from Cash Flow Shortfalls

There are many things to consider when managing a business; hiring, marketing, and actual delivery of the goods or services to your clients. At any stage of delivering value to your clients, things can go wrong. Miscommunication can lead to missed deadlines, poor internal controls can lead to quality problems, and staff can leave on short notice; leaving you in the … [Read more...]