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As small business owners we all have different needs. The bookkeeping systems we select may vary, the specific reports that we access to make crucial business decisions may vary, even the frequency of our accounting may be vary. But at the foundation of it all is what we call a Chart Of Accounts. And your […]
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Launching a small business enterprise is always a challenge, but keeping it successful and growing it is the real hurdle. An huge number of new company startups struggle to turn a profit and only a small percentage will persevere to go on to become bigger and more successful. So what steps can small business owners and managers take to […]
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Late last year a post by Angie Mohr on Intuit’s Small Biz Blog attempted to differentiate between an accountant and a bookkeeper. It helps to know the difference when you decide what is actually needed. Especially if you want to get good value pricing return on service. “Many times it depends on the industry and […]
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Launching a small company takes nerve and determination — and so does ultimately divesting of your beloved company. The decision to sell can be nerve wrenching, but whether you’re selling because the work is no longer fun or because you need more time outside of your business, the preferred end result is often the same: You must ensure that you’re […]
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An employee job termination is always uncomfortable, whether it’s for good cause or due to a business downturn. Workers who are fired or laid off often have bad misgivings about your business and some may act out their emotion in hurtful or violent ways, attempting to sabotage your company. Here are seven key steps that you […]
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Of all the changes included in the Microsoft Office 2010 suite, the biggest changes were to Outlook 2010. Largely used by companies and students, Outlook often seemed as if it were being left in the dust when each new set of Office products was released. Usually the only changes to Outlook were changes in the […]
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Often times small company owners and managers gauge their business results by their checking account. But if you’ve been in business for awhile, you already know that cash rarely equals income or profit. And even if you know what your company income is, do you really know how to read your cash flow and financial reports? For most […]
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Recently we looked at a new client’s balance sheet and saw that there were way too many accounts that gave rise to issues based on our understanding about his company. We realized that he perhaps didn’t fully appreciate the importance of his balance sheet and how to read it. It is crucial as a business […]
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Fact: Sony was forced to shut down its popular PlayStation Network for weeks in April and May after a massive hacker attack targeting credit card information and other personal data compromised more than 100 million user accounts. The company was criticized for waiting a week to inform consumers of the hacker data breach, which was […]
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The accounting firm Brown Smith Wallace has been counseling its business clients on ways to save money on their taxes by taking advantage of some government incentives. Accounting Today’s Michael Cohn talked with two of the firm’s accountants last week about the tips they give their clients. Cathy Goldsticker, a member of the tax services […]
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As the owner of a small family company one day you’ll need to exit the business. You can stay on as long as you can, but eventually, you’ll have to plan your exit.
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Cash is the lifeblood of any small business. Here are some tips to help your business maintain a sufficient cash flow to meet its financial goals and run efficiently: Tips from Rick Smith CPA – Toughen up your credit policies. Review the payment terms you offer to customers and tighten them up if slow payment is […]
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Our own Catalyst QuickBooks cloud solution for small business accounting and bookkeeping and demo video may be reviewed here. Developed by Cloud 9 Real Time, we don’t know how we managed without for so long. As the economy commences to regrow and stabilize, companies are looking to rebuild. When posed with the prospects of either growing or being left […]
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As a small business owner, if you aren’t concerned about a tax audit, you should be. An IRS audit can be a troubling experience even if you’re completely prepared. Make no mistake, your IRS auditor won’t be especially charming. Due largely to a humongous budget deficit, the government is trying to close a $300 billion gap […]
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Here’s a scenario for you: You’re the sole owner of a corporation and have no employees. Every once in a while you find yourself a bit short, so you let the company pay for some of your personal expenses, such as dry cleaning, spa treatments and house cleaning services. You’re not depriving a business partner […]
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Growing too fast can be dangerous to your company’s health. Use the Sustainable Growth Rate ratio in order to track your company’s financial ability to grow. What typically tops the list of worries of the chief executive officers of fast growing companies? Financing that growth, according to surveys over the years. This is because many companies […]
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