Financial Tasks to Tackle in the Month of May
The month of May is a great time to tackle some financial tasks. Here are some things you can do to get your finances in order.
Avoid These 7 Frequent Accounting Mistakes
Accurate accounting data is vital for informed business decisions. So, it is crucial to set up your financial systems correctly from the start. Here are 7 frequent accounting mistakes and solutions to fix them.
7 Steps to Start a Business
Starting a business is romantic—being your own boss, developing your ideas, and chasing your dreams. But how? Here are seven smart steps to get you started.
How To Improve Your Month-End Closing
Preparing tax returns, compiling financial statements, and completing the month-end closing are just a few examples of the seemingly endless tasks of accounting. Thus, let’s talk about how you can improve your month-end closing process to save time and boost productivity.
Why Your Business Needs A Professional Bookkeeper
Professional bookkeepers do more than manage finances. They can also help you boost profits. They can help you save on taxes, invest wisely, and prevent costly financial mistakes.
Cash Flow Statement Analysis for Smart Financial Decisions
Cash flow is the movement of money in and out of your business and your business bank account. Think of cash flow like your car’s gas tank. You fill up the tank with gas, and it empties as you drive. The goal, however, is to always have enough gas in your tank to avoid running out. Cash inflows are your sources of income while cash outflows are your business expenses.
An Overview of Financial Statements
Investors and financial analysts rely on financial data to analyze the performance of a company and make predictions about the future direction of the company’s stock price. One of the most important resources of reliable and audited financial data is the annual report, which contains the firm’s financial statements.
The Importance of Financial Forecasting
Financial forecasting refers to financial projections performed to facilitate any decision-making relevant for determining future business performance. The financial forecasting process includes the analysis of past business performance, current business trends, and any other relevant factors.
What is the Accounting Cycle
Accounting is the process of gathering information on business activity, posting transactions, and producing true and accurate financial statements. The accounting cycle is a series of steps, completed in a specific order, that ends with a set of accurate financial statements. If you don’t follow each step in the cycle, you won’t produce accurate financial data, which can really be detrimental to a small business.
How to Pay Yourself as a Business Owner
Learn when and how you should pay yourself as a business owner.
Most Common Mistakes Why Businesses Fail
Here are five practices that business owners need to avoid in order to have a successful business.
Should You Do The Bookkeeping Yourself
The value of bookkeeping for your business has more benefit than just money. Here we will discuss some of the pros and cons of doing your own bookkeeping for your business.
How to Deduct Vehicles for Your Business Use
Learning how to deduct vehicles for business use will allow you to make the most out of your write-offs.
How to Record Vendor Bills in QuickBooks
Learning how to record Vendor bills in QuickBooks will allow you to track all of your expenses and run a A/P report.
How Business Structures Impact Bookkeeping
Business structures will ultimately affect how taxes are filed each year by the business and individuals. IN this blog, we will discuss the different business structures and how they operate when it comes to taxes.
Financial Accounting Overview
Here is an overview about Financial Accounting that is used by accountants to document, compile, and outline a business’s financial performance over a specific time period.
The Importance of Accounts Payable
Accounts payable are debts due by a business to its suppliers. Your payables must be correct for your balance sheet to be accurate.
8 Tips for Creating a Budget
A budget helps you avoid overspending and running out of money. To help you prepare, we’ve compiled 8 budgeting tips.
The Importance of Account Receivables
Understand the importance of account receivables, how to run reports, and how collections will impact your business. Read our article to learn more.
Why Is Employee Classification So Important
Proper classification is important for both the employee and employer to avoid costly penalties. Read our article to learn more.
Why Keep Business and Personal Expenses Separate
It is very common for small business owners to mix personal and business expenses. Unfortunately, to their own detriment. Read our article to learn why they should be kept separate.
Which QuickBooks Online Plan Is Best For My Business
Take a look at our article if you’re thinking about using QuickBooks Online for your business but aren’t sure which plan is right for you.
Accounting Methods: Cash or Accrual Basis?
There are two methods of accounting that businesses can use: cash basis or accrual basis. Although they sound complicated, read our article to understand the differences between the two and when to use them.
How to Use Invoices and Sales Receipts in QuickBooks Online
One of the best features of QuickBooks Online is that small business owners can issue either invoices or sales receipts. Read our article to learn the difference between the two, including when to use them.
The Actual Cost of Hiring an Employee
When hiring an employee, there are a few things to consider. One of them is the fact that the cost of hiring an employee is greater than their hourly wage.
