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 »
Every business owner should know their break-even point. It’s the number that tells you how much you need to sell before you start making a profit. Once you pass it, every sale adds directly to your bottom line. Here’s a simple example for a service business: Imagine you run a consulting business. Here’s the formula: …
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 »
Ready to take the leap from solopreneur to employer? Hiring your first employee is exciting but can feel overwhelming. Let’s break down when it’s the right time and how to handle payroll without losing your sanity. You’re ready to hire when you’re consistently turning down good work because you don’t have time. If you’re working …
Hiring Your First Employee and Payroll Simplified Read More »
Tired of scrambling to pay bills at the last minute? Or worse, getting hit with late fees that eat into your profits? Let’s fix that chaos once and for all. The secret to stress-free bill payments is creating a simple routine. Pick two days each month for bill payments, maybe the 1st and 15th. Mark …
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 »
Business credit cards can be incredibly useful, but only if you choose the right one. A business credit card should support your operations and financial goals. The right card can help you manage cash flow, earn rewards, and simplify your business spending, but not all cards offer the same benefits. Here are a several key …
Nobody wants a surprise letter from the IRS. And when it comes to your business income, there are a few red flags that could draw attention even if you’re not doing anything wrong. Here are some of the most common income-related red flags we see and how to avoid them: If the numbers are off …
There’s no shortage of financial advice out there for small business owners especially with so much of it circulating on social media. You’ve probably seen the posts that say you should invest more, save less, raise your prices, hire faster or the opposite. The truth is, not every tip applies to every business. What works …
What to Watch Out for in Business Financial Advice Read More »
