Sticking to a budget can be one of the most crucial elements of success in any business, organization, or project. But it’s equally important to be open to revising your budget at the mid-year point. Knowing how and when to revisit your budget is a skill many business owners and managers overlook. As a result, […] Read more “How to Revisit Your Budget Mid-Year”
Tag: accounting
Are you starting a small business and unsure of how to handle your bookkeeping and accounting records? This is definitely a common challenge for many small business owners yet it is a vital aspect of running a business. One question you might have about this subject is whether you should use the cash basis vs […] Read more “Cash Basis vs Accrual Basis Accounting: What’s the Difference?”
Business owners know the challenges of running a business. Your business has lots of expenses and keeping track of them isn’t easy. Keeping track of expenses can make or break a company. So, having a top of the line expense tracking program is a must. Expensify can help you manage business expenses and more. Keep […] Read more “A Better Corporate Credit Card: An Expensify Review”
Did you know that there are more than 30 million businesses in the US alone and just 50% of them survive for more than 5 years? Apart from management or administrative problems, most small businesses fail simply because the owners are unable to calculate their annual budget properly. The yearly budget is more important than you might […] Read more “How to Set up a Monthly and Annual Budget for Any Small Business”
As a small business, you likely don’t have fully-staffed accounting and bookkeeping departments. But you still need to balance your books, pay your taxes and do financial planning. The problem is these endeavors are complex and time-consuming and you’ve got a business to run. Sure, you could hire more people to help you out, but […] Read more “Hubdoc 101: The Basics from Your Hubdoc Reviews Experts”
The biggest challenge for small businesses is focusing on their core products and service offerings when there are so many issues that need attention. For example, payroll is a complex and time-consuming task that must get done. Your employees have to get paid properly and have access to a lot of important information. To be […] Read more “Considering the Gusto Payroll Service? The Basics You Need to Know”
The Rolling Stones famously told people to get off of their cloud. The City of Chicago, on the other hand, is perfectly happy for your business to be on the cloud. But you’ll need to pay taxes to the city for the privilege of doing so. Chicago’s so-called “cloud tax” set off howls of opposition […] Read more “The Chicago “Cloud Tax”: What Startups Need to Know”
Is hiring a part-time CFO or accounting freelancer a viable option for your business? Entrepreneurs by nature are overachievers. They believe in what they are doing and believe that they can do it all. But the reality is that once an early stage company gets some traction, all the entrepreneurial spirit, talent, and energy drinks […] Read more “5 Reasons to Outsource Your Start-Up’s Finance & Accounting Teams”
If we could impart one reality to our small business clients, it’s this: if you’re not intimately in touch with your business’s financial health, you’re leaving money on the table. Period. It’s important to start using accounting software, such as QuickBooks, earlier in your business and move away from the Excel spreadsheets. That’s why as […] Read more “8 Reasons To Use Accounting Software vs. Spreadsheets”