Your chart of accounts is the foundation of your bookkeeping. It organizes all your income, expenses, assets, and liabilities into categories. When it’s set up properly, you get clear financial reports that make decision-making easier. But when it’s messy, it can: Examples of how to clean it up: The goal is to create a chart …
Bookkeeping isn’t always the most exciting part of running a business. But here’s the truth: ignoring it, or getting it wrong, can end up costing you a lot more than just time. We’ve seen small mistakes snowball into expensive clean-up jobs that business owners never planned for. Here are some mistakes we’ve actually seen clients …
Avoid these bookkeeping mistakes (they cost big in clean-up fees) Read More »
As a solopreneur or start-up owner, managing your books can feel overwhelming, but it doesn’t have to be. The right bookkeeping software helps you stay organized, save time each week, and have confidence in your financial decisions. Clear, accurate records mean fewer surprises at tax time and better insight into how your business is really …
The best bookkeeping tools for solopreneurs and start-ups Read More »
Got multiple businesses under your belt? Maybe you’re running a consulting LLC while also operating a separate product business? Here’s the golden rule that’ll save you major headaches: each business entity gets its own set of books. If you have multiple businesses with different EINs (Employer Identification Numbers), they need completely separate bookkeeping systems. Think …
How to Manage Your Bookkeeping When Juggling Multiple Income Streams Read More »
If you’ve been feeling frustrated every time you open your accounting software, you’re not alone! One of the questions we hear often is: “How do I know if it’s time to switch accounting platforms?” Here are a few signs it might be time: 1. You’re outgrowing your current system What worked when you first started …
If you’ve ever looked at your financial reports and found yourself wondering what EBITDA and net income really mean, you’re not alone. These two terms show up often in financial statements, but they tell very different stories. EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. In simple terms, it gives you a picture …
When it comes to bookkeeping support, many business owners wonder: Is it better to hire someone local or go virtual? While working with a local bookkeeper might seem more traditional, virtual bookkeeping offers flexibility, speed, and modern convenience that fits today’s fast-paced business world. Here’s why more business owners are choosing to go virtual: Everything …
Why More Business Owners Are Choosing Virtual Bookkeepers Read More »
Most business owners create a budget once, feel good about it, and then don’t look at it again until the following year. But if you’re not reviewing your budget regularly, it’s probably not working as well as you think. Business isn’t static, prices change, revenue shifts, expenses creep in, and unexpected things pop up. So …
Your bookkeeper or accountant plays a big role in keeping your business finances on track, but if they’re not meeting your needs, it might be time to make a change. If you’ve ever found yourself saying: What to Look for in a New Bookkeeper or Accountant The right bookkeeper or accountant does more than just …
Is It Time to Switch Bookkeepers or Accountants? Here’s How to Know Read More »
Fraud can happen in any business, no matter the size. It often starts small with an unapproved expense, a missing transaction, or a duplicate payment. If left unchecked, these little red flags can turn into serious financial losses. The good news is that most fraud is preventable when you know what to look for and …
How to Spot and Stop Fraud in Your Business Finances Read More »
