One of the biggest challenges small businesses face is deciding how much to charge for their products or services. If you get this right you will have a highly profitable business. On the other hand, if you get this wrong you won’t be in business much longer. Thankfully there is a system to make sure …
Creating a chart of accounts is the first step to getting your accounting in order. As an entrepreneur, you are most likely dealing with all aspects of your business and have no time to focus on charting your finances. This post will provide you with information on how to create a chart of accounts for …
Bookkeeping 101: How to create a chart of accounts Read More »
Financial statements are windows into the health of your small business. Unfortunately, more times than not these reports get tossed in the trash, never to be looked at again. In this article, we outline what the two most popular statements are and what to look for in them. What is an Income Statement? An income …
Bookkeeping 101: Income Statement vs. Balance Sheet Read More »
This post is one of many in a series we’re calling, Bookkeeping 101. In this article, we’ll teach you how to increase financial margins in your business. One of the most important objectives of running a small business is maximizing financial margins. Before we can talk about how to increase them, though, we need to …
To run a business smoothly, everything has to be organized. Finance and accounting are no different! A chart of accounts is a great example of how we keep things organized. What is a Chart of Accounts A chart of accounts is a list that categorizes all of your small business’s transactions. This list is typically …
In today’s marketplace, it is very common for a business to extend credit to its customers. Extending credit is a great way to reach a segment of customers that may not have the cash flow to pay the full cost of a product or service upfront. It can be a great way for a business …
It can be hard to find the best accounting software for your small business. There are so many companies that provide bookkeeping solutions but which one(s) are best for my small business? To help, we have compiled a list of the top 4 accounting software providers we like that can help you with bookkeeping. – …
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Congratulations! You have taken a bold step and decided to open your own business. Like many of those before you, you are filled with excitement and can’t wait to serve your first customer. There is only one problem, you don’t know where to begin, but don’t worry, we’re here to help. Before you start your …
