Small Business Bookkeeping to help business owners create accounting processes and reporting to understand the financial health of their business.
If you’re like most businesses, then there’s a good chance that you offer credit terms to some of your customers. This is known as your accounts receivable or AR as it represents the balance of money owed to a firm for goods delivered or services rendered but not yet paid for by customers. In…
While we don’t recommend doing the books on your own (unless you’ve got an accounting background), it’s still important to have a good grasp on the drivers of your business finances. That being said, let’s take a look at the 23 bookkeeping terms every small business owner should know. Accounts receivable – many businesses…
Whether you use accounting software like Quickbooks, an Excel spreadsheet or your an old school ledger book, the ultimate goal of bookkeeping is to reconcile a trial balance. Said another way, the final total of debits and credits must match in order to complete the reconciliation of your accounts. As you may already be aware,…
“Doing the books” is not something that comes naturally to most small business owners. However, it is one of those critical tasks that can make or break your business in the long run. If you don’t already have a robust system in place for tracking your everyday financials, then keep reading to learn the basics…
Calculating withholding taxes is arguably the most challenging aspect of administering payroll. One wrong move could result in costly errors, penalties or worse case scenario, an IRS audit. So how do you failsafe your business in an environment with ever-changing tax laws, especially in light of the newest major tax reform — the Tax Cuts…
Completely eliminating paper in your small business may not always be practical but even a small reduction in paper usage could yield cost savings and boost productivity. Let’s take a look at the benefits of running a paperless office and our top 7 tips for going paper-free: Benefits of a Paperless Offices Saves Space Over…
If you’re ready to spend less time running your business and more time growing your business, then it’s probably time to outsource your bookkeeping needs. Keep reading to learn the Top 7 Tips for getting started with outsourced bookkeeping for your small business. Understand the Difference between Bookkeeping and Accounting Learning the key differences…
Happy New Year from all of us at RQB! The start of a new year is the perfect time to reflect on the past – so you can make plans for the upcoming months. In order to have a thriving business, you need to constantly evaluate existing processes to see if any modifications need to…