Bookkeeping

How To Handle Cash Flow: 5 Handy Tips

When running a business, "cash flow is king" is a phrase you may have heard thrown around and honestly, it’s not untrue. Many a fundamentally sound business has found itself going under due to running out of cash, especially if owed some money. It’s good to think about and plan ahead to avoid this. Let's have a look at the ways to do this. Make A Business Plan – Project Income … [Read more...]

How to Take Charge of Your Business Receipt Process

For many business owners, tax time feels like a big interruption to normal business operations. Imagine that you’re driving down the road and you’re pull over. Being pulled over increases your travel time, and it will take you a few minutes to get back on the road and up to speed again. Preparing your business’ taxes may feel the same way. Like pulling your car over, tax … [Read more...]

Why Outsourcing Is One of the Best Things You Can Do for Your Business

Time is the most crucial limitation for any entrepreneur or small business leader. Outsourcing makes it possible for you to keep your attention focused by streamlining productivity into the hands of specialized experts. It saves you the hassle of investing precious resources and hours. You can look forward to building your company for the long-term without stressing over the … [Read more...]

5 Must Have Tools for Small Business Owners

Looking to make your small business more productive in 2018? Most successful entrepreneurs are always looking for ways to make their business more efficient. It's not just having the right tools at the click of a button. It's about having the right toolset that works for your business, that will all make the difference. If, in 2018, one of your goals is effective business … [Read more...]

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...]