9/5/23 — Summer Financial Health Check: Assessing Your Business’s Financial Well-Being
Do a Summer Financial Checkup for Your Small Business Summer is prime time to assess your business finances and make data-driven decisions to finish the year strong. Follow these 5 steps: 1. Analyze Revenue and Expenses Review income and expenses from the first 6 months. Identify trends in your financial statements. Compare actuals to […]
8/1/23 — Cash or Accural Method
Cash vs Accrual Accounting: Which Method is Best For Your Small Business? Choosing between cash and accrual accounting impacts how you record financial transactions. Understanding the differences can help select the best method for your business. Cash Accounting Basics With cash basis accounting, you log revenue when received and expenses when paid. This approach provides […]
7/25/23 — Summer Bookkeeping Tips: Stay Organized Amidst the Sunny Season
1. Streamline Expense Tracking Summer often includes additional expenses like travel, conferences, marketing events, team outings, and seasonal promotions. Carefully track all these costs through receipts and expense reports. Record them in your accounting system right away for hassle-free bookkeeping. Staying organized will also simplify tax preparation later. 2. Embrace Cloud-Based Accounting Software Consider migrating […]