Small Business Bookkeeping: Can You Save Costs Outsourcing Your Bookkeeper?
The question of whether to hire outsourced bookkeepers is not a new one. Small business owners have been grappling with the decision for years. The truth is that you have only a few options for keeping your books. You could hire someone to work full-time in your office. You could have one of your employees […]
How to Read Financial Statements Like a Pro
Managing a business well requires insight into your financial situation. Yet, it’s hard to have a clear understanding of where your company stands unless you know how to read the financial statements you receive from your small business bookkeeping service. These documents can help you make the right decisions for your company. How? They give […]
What Are the Costs of Poor Data Entry for Your Small Business?
Small business accounting has made a tremendous journey since the days of paper ledgers and handwritten entries. Now, small business bookkeeping software makes entries easier and more reliable. However, even now, data entry presents challenges. Whether you do your accounting by hand or enter it into an accounting program, poor data entry can create a […]
QuickBooks 101: 8 Common Mistakes to Avoid
QuickBooks is a phenomenon in the software world. It was an immediate success and, nearly 40 years later, is still by far the most popular self-service accounting software. Intended to enable small and medium-sized businesses to do their own books, the software has been upgraded and improved many times and now offers a wide range […]
Financial Forecasting for Small Businesses: What Should You Include?
To rephrase a well-known bit of wisdom, “You can’t know where you’re going if you don’t know where you’re going.” Financial planning is essential to both running your business in the short term and growing your business over the long term. You probably already do some financial forecasting now, no matter what type of business […]
Should You Consider a Virtual CFO for Your Small Business?
If you’re running a small business, a chief financial officer (CFO) can provide expert-level guidance for managing normal operating accounting while also helping you plan long-term strategy for growing the company. The CFO is generally the third-highest ranking executive in a company and, as such, one of the highest paid. Many entrepreneurs simply don’t have […]
Should You Use Accounting Software or Outsource Your Accounting?
When you’re working hard to grow a small business, accounting functions like a map of where you are, where you’ve been, and most importantly, where you are capable of going. Every day, it is critical to have an accurate, error-free understanding of your company’s assets, liabilities/costs, income, and cash flow. And every year, it is […]
Financial Consulting Services
Have you ever started to create an investment portfolio or manage financial records for either your personal needs or business functions only to realize that you could use some advice to make your decisions? Or maybe you’ve found yourself facing a crossroads where you were unable to decide on which financial decisions would be best […]
Should Small Businesses Carry Debt?
When you’re first starting out in the business world, financing can be a useful and often necessary tool to jumpstart your business. However, this debt, without proper care, can begin to cause problems rather quickly. If you understand how to handle your small business debt properly and you know the difference between good and bad […]