Financial statements show not only where a company stands financially, but also where it may be headed. Contractors who work with their financial advisors to analyze their statements can often catch problems early on before they turn into bigger issues. The income statement is one of a company’s m…Read More
How often do you seek out your accountant’s advice on other areas of your business excluding taxes? Small business accountants are savvy financial advisors who can assist you with more than just filing tax returns, and regular meetings with your outsourced accounting service provider can help you …Read More
Having a good idea is one thing, and turning into a successful business is another. As a small business owner, you may have taken a few accounting courses throughout your education and are familiar with balancing the books, but most entrepreneurs don’t have the expertise to run the entire accounti…Read More
Small business accounting can be time-consuming, especially for entrepreneurs without an accounting background. Managing accounts payable and accounts receivable is an important skill to master. You need to be able to track what you owe a supplier, what you’ve sold and what your customer owes you,…Read More
When your small business started off, it may have been viable to record all your financials manually in a book kept in the drawer of your desk. As your business grows, having accounting processes and procedures in place is absolutely essential to ensure financial health. It is likely your competitio…Read More
Billing schemes. Skimming. Check to tamper. Small business bookkeeping fraud is a real risk for entrepreneurs of fewer than 100 employees. As a small business owner, you may have implemented procedures to prevent bookkeeping fraud. However, nothing is 100% guaranteed to work. Median fraud loss for s…Read More
Knowing how to work with the numbers in a company's financial statements is an essential skill for small business owners. The meaningful interpretation and analysis of balance sheets, income statements, and cash flow statements can help entrepreneurs determine the health of their business and make b…Read More
The day may soon arrive when you’re ready to sell your business. You may even have a price in mind, based on similar businesses that have sold recently in your area. Even if your not quite ready to sell, knowing the value of your business can be highly useful if the right buyer comes along. Beside…Read More
Running a startup involves lots of complexities. Many of the startups fail in the first few years of their inception. Young entrepreneurs tend to make mistakes such as improper management, lack of knowledge of all domains, especially non-core activities, and poor market analysis. Despite working for…Read More
The revenue for accounting, tax preparation, and payroll services in the United States are set to generate around 160 billion US dollars in 2018. That’s a lot of people spending a lot of money on accounting and bookkeeping services. Since so much money is spent on outsourced accounting and bookkee…Read More
