Posts Tagged bookkeeper
When most small business owners think of the terms bookkeeping and accounting, they often use them interchangeably. While it’s true both bookkeeping and accounting are important in the management of your company’s finances, some key differences between the two functions do exist. Therefore, business owners need to understand the roles of each and how they work together to ensure your company’s success. (more…)
Congrats! You’re a small business owner who has turned your passion into a profitable business. Every day, you get to work on something you love. That’s what most business owners strive for. But running a business also comes with a long list of to-do tasks that you may not love doing. However, these tasks must be done to keep your business successful and growing. Bookkeeping is often cited as one of these least favorite tasks by business owners. (more…)
While many businesses can heat up during the summer, a lot of businesses experience a major slow-down. With the kids out of school, people are often busy taking vacations or participating in warmer weather activities. If your business goes through seasonal doldrums, why not take advantage of the downtime to review your business budget? You can review how your year has gone so far and plan for what you want the rest of your year to look like. (more…)
Is your business going paper-free or at least relatively paper-free? While the idea sounds terrific, it can create a mess if you still operate your business bookkeeping systems like you did 30 years ago. If you are fighting a muddle of chaos, chances are that you don’t have a clear updated process in place, and that can do nothing but aggravate and stall your progress. (more…)
Most financial advisors tell people they need to have an emergency fund to cover unforeseen financial issues; job loss, medical expenses, or home repairs, that may occur in their lives. The same can be said for businesses, too. (more…)
As a small business owner, are you handling your production, marketing, administration, and bookkeeping on your own? Doing it all yourself is one of the biggest mistakes that many entrepreneurs make when running a business. (more…)
Did you know that the cost of labor can be one of the largest expenses a small business can have? It’s second only to the cost of real estate, according to the U.S. Department of Labor. Depending upon the industry you’re in, labor costs can range from 10% to 30% – or more. For your small business, your labor costs can quickly eat up your earnings if they’re not monitored and adjusted accordingly.
Small business owners often need to acquire the services of other businesses. When inquiring about the services a company provides, you may be presented with a bid, quote, proposal, or estimate. Many companies often use these terms interchangeably. However, the definition of these terms can mean different things to different people and in different industries. (more…)
As a small business owner you will, more than likely, encounter a customer who never pays his bill. It would be wonderful if that were not true, but if you talk with your small business owning peers, you will find everyone has a story to tell. But when it happens to you – at least for the first time – you might be a little baffled. NOW what do you do? (more…)
Way back in 2015, we wrote a blog about the Pros and Cons of Hiring Contractors vs. Employees. In this article we shared that experts predicted by 2020 contractor workers or freelancers would make up half of the full-time workforce. This trend, now commonly referred to as the “Gig Economy” is on track to meet that prediction by 2020 or before. Are you on board? (more…)
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