Bookkeeping

When most people think of business growth, they usually think about something like sales or marketing – something that plays a direct role in bringing money into the business. But keeping track of your money is just as important as bringing it in. For example, tracking your money can help you keep more of it…

I’ve never heard anyone say they started their business so they can do bookkeeping. Most people start their own businesses because they love doing the work the business was set up to do. Unfortunately, that’s just a small part of owning a business. Another important part is tracking your income and expenses so you can…

As an employee, finding out how much money you’re making is easy. In fact, your employer’s HR department does it for you. They subtract your taxes and health insurance payments for you, so just one glance at the check will tell you how much will end up in your bank account. Owning your own business…

Managing your finances is one of the most important things you can do as a business owner. After all, you’re in business to make money, so why wouldn’t you want to make sure you’re making the most of that money? Unfortunately, a lot of small business owners don’t think beyond paying their bills and making…

It would be nice if keeping track of your business’ financials was as easy as invoicing a client and collecting the money for that invoice, but the truth is there’s much more to it than that. In reality, each transaction for your business goes through an eight-step cycle. I know that sounds like a lot,…

Managing and tracking your cashflow might not be the most exciting part of your business, but it is of the utmost importance if you want to keep your business running smoothly. Cashflow is the lifeblood of any business, and it is especially crucial for small businesses. Without proper management and tracking of cashflow, you risk…

When you first started your business, you probably didn’t even realize how many different kinds of accounting you have to choose from. Most people assume it’s a straightforward matter of keeping track of the money coming in, the money you spend, and making sure your income always exceeds your expenses. But let’s say you send…

Every business needs a good accounting system, but putting one in place is much easier said than done. Even improving an existing accounting system can be a struggle if you’re not sure what gaps exist in your system, so here are some ways you can identify your needs, and then either develop a new accounting…

I talk to a lot of small business owners, and I don’t think I’ve ever heard one of them say they went into business so they could do financial accounting. At the same time, if you want your business to succeed (much less thrive) you need to keep accurate recording, summarizing, and reporting your company’s…

Like most industries, accounting has its own jargon for describing certain things within the industry, and while these terms might make communication easier for accountants talking to tax professionals and other accountants and bookkeepers, it can leave a lot of other people feeling lost. That can make it scary and counterproductive when you’re trying to…