In today’s electronic age, we’re seeing more and more functions transition over to technology, including that of business payroll. Rather than processing physical paper checks, employers have the option to pay their employees electronically via direct deposit into their bank accounts. If you’re not yet offering this option to your team, or you’re still on […]
Hiring a professional bookkeeping firm can seem like an overwhelming task. You don’t want to take any chances – especially with your important business finances. So, how can you make sure that the company you hire will be a good fit? Simple. Know what questions to ask ahead of time. This will help give you […]
Depending on where you are in your business, using a business credit card may or may not be wise. We’d like to touch on some of the “do’s” and “don’ts” of business credit so you can determine if you are using yours wisely. DO You keep things separated. On this blog we’ve talked about keeping […]
Calculating your daily sales outstanding (DSO) is a relatively straightforward process. By dividing your accounts receivable by the annual revenue Managing Your Daily Sales Outstanding per day, you’ll have a better understanding of the average number of days it takes your business to collect from customers. Logically speaking, a low DSO means that your customers […]
Most businesses rely on an in-house bookkeeper to handle their bookkeeping needs. Usually, this in-house bookkeeper is an office assistant who handles bookkeeping in addition to various other tasks. Having bookkeeping handled by non-specialists is error-prone and expensive especially when you can outsource bookkeeping at a fraction of the cost while dramatically improving its quality. […]
I’m a huge fan of checklists and couldn’t live without them. They get me through my day and help me make sure I’m not forgetting something vital. It also saves me from a mountain of post-it notes and little “reminders” that get lost just when you need them. So, if you’re ready to get your […]
Maintaining the books of accounts is a crucial aspect in every business. Any business is not only the realization of the vision of an entrepreneur but involves the efforts of many individuals and multiple resources. Accounting is one such resource. In order to ensure a smooth functioning of each segment of the business organization, a […]
Small business owners often wear many hats from head chef to chief bottle washer and everything in between. Bookkeeping is one of those many hats and one of the most important. Tracking accounts receivable and accounts payable are fairly simple but what about tracking all those varied and random expenses? Create a filing system for […]
In the present age, taking the help of an outsourcing company can give a home business than others. Outsourcing combines various supreme benefits and provides customers with an expert and cost effective way to manage finances. Outsourcing allows the organization of tasks adequately. Financial and accounting duties should not be taken lightly. Thus, there is […]
Whether you keep your own books or outsource the bookkeeping to a dedicated professional, it’s important to have a good grasp on bookkeeping basics. We all know our bank account debits and credits but what about all those other accounts we use? Here’s a handy acronym to help you remember how to record transactions properly. […]
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