Articles

In many small businesses, the role of Chief Financial Officer (CFO) simply doesn’t exist. Budgets are tight, teams are lean, and financial strategy often falls by the wayside. Can you use your bookkeeper, not just as a record-keeper or clerk,…

It is becoming more common for small business to outsource their bookkeeping services mostly because of cost savings and efficiency. Accurate and timely accounting is important to business success, however, hiring someone to do it in-house usually requires some of…

Most business owners understand what net profit is for their business and is mainly what they look at. The net profit of a business is the funds that are left over after the expenses are subtracted from the income that…

Tax season can be stressful for business owners, especially getting your books in order at the end of the year. If your recordkeeping isn’t in order, you may be in for a difficult time. As you wrap up the current…

Bookkeeping is the backbone of any successful financial system, whether for a small business, a large corporation, or even personal finances. At its core, bookkeeping is the process of recording, organizing, and managing financial transactions. These transactions include sales, purchases,…

When it comes to managing finances, the terms “bookkeeping” and “accounting” often get tossed around interchangeably. While they’re closely related, they’re not the same thing. Each plays a distinct role in keeping the financial wheels turning, whether for a small…

Managing a small business is no small feat. With handling clients, employees, and daily operations, bookkeeping often becomes an overlooked task. However, effective financial management is the backbone of any successful business. Here we explore some common bookkeeping mistakes small…

Whether you’re starting a small business or just want to keep better track of your personal finances, a simple bookkeeping system can help you stay organized and make informed financial decisions. Bookkeeping doesn’t have to be complicated—you just need a…

Choosing the right accounting method can significantly impact your business’s financial reporting, tax obligations, and overall financial strategy. The two primary accounting methods—cash accounting and accrual accounting—each have their advantages and drawbacks. Understanding how they work and which one suits your needs…

The chart of accounts (COA) is the backbone of a company’s financial system, serving as an organized framework for recording transactions. Whether you’re managing a small business or a large corporation, understanding the chart of accounts is crucial for maintaining financial clarity, ensuring accurate…