Posts Tagged ‘Accounting’
Cash Versus Accrual Under the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act of 2017 has led to changes in the way companies choose to be taxed. Prior to the tax reform, many businesses were required to use the accrual method of accounting. But with the change in tax law, businesses with $25 million or less in annual revenue over the prior…
Read MoreBest Smart Apps for Successful Small Business Owners
Running a business can be hectic. Using technology can be useful and assist in day-to-day operations. The first step in integrating technology the right way is in knowing which apps work best in helping accomplish what needs to be done. Here is a quick list of some that helps make tasks a little bit easier: Accounting Apps No business…
Read MoreDon’t Forget These 4 Essentials for Efficient Cash Flow Forecasting
A businesses cash flow forecast can help businesses to predict the profitability of the business to help pay for outgoings and plan for the future. It’s a vital financial tool that can help to understand business performance and meet costs. Whilst it can be relatively straight forward to put together, cash flow forecasting can also…
Read MoreUnderstanding What a Bookkeeper Does
If you own or manage a small business, you may worry so much about certain financial issues that you have trouble sleeping at night. Some of these issues might include lost receipts, not getting paid for products or services, not knowing where your business stands financially, or being audited by the IRS. Fortunately, help is…
Read MoreBookkeeping vs. Accounting
If you own or manage a small business, you know the importance of accurate financial records. You also know that your business success often depends on having a clear financial path forward. Bookkeeping and accounting are two processes businesses rely on to accomplish these goals. Some business owners take on bookkeeping and accounting tasks themselves.…
Read MoreQuick Stay-at-Home Guide to Starting a Small Business
Many parents are opting to stay at home while the kids are growing up. Some are supplementing their family’s income by working from home, often launching a new business enterprise there. Here’s a quick stay-at-home guide for starting your own small business. Decide on Your Business Structure Most in-home businesses begin as sole proprietorships. This…
Read MoreAccountant vs. CPA: The 5 Main Differences
The terms “accountant” and “certified public accountant” or “CPA” are often used interchangeably. But they’re not exactly the same thing. All CPAs are accountants, but not all accountants are CPAs. Here’s a look at the five main differences between them. Education Accountants generally have an associate’s or bachelor’s degree in accounting, though in reality they…
Read More3 Most Efficient Ways to Set Up Your Business’s Financial Systems for Success
Your financial system should be as precise as the grooves in a vinyl record. A solid financial system includes components like your accounting software, purchase approval process, receipt collection process, system for budget creation, and even your point-of-sale (POS) software. These are just a few examples; anything related to handling finances is part of your…
Read More5 Essential Steps to Prepare Your Company’s Finances for the Holidays
With the holidays right around the corner, initial visions of sugar plums dancing in your head have likely made way for long shopping lists and travel plans, and I bet your wallet’s already feeling it. Trees, decorations, presents, food, parties—it can all add up. But what about your small business’s finances? In the midst of…
Read More4 Easy Tips for Successful Small Business Accounting
As a small business owner, you likely wear many hats. In an average day, you may serve as a clerk, a customer service liaison, a marketer, an analyst, and even an accountant. With so much to do and so little time, it’s often hard to devote enough energy to any one task—and that includes managing…
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