Small Business Bookkeeping to help business owners create accounting processes and reporting to understand the financial health of their business.
Although every aspect of overseeing a small business can be challenging, financial management is often uniquely complex. Even though a basic understanding of financial management may bring an entrepreneur through the first stages of business development, a comprehensive understanding is eventually required. In the content below, we seek to provide a helpful small business bookkeeping…
Small businesses thrive on the relationships they build with customers and product suppliers. However, at any moment, these relationships can struggle due to the lack of proper inventory management. To prevent a shortage or surplus of your company’s products, managing your inventory on a regular basis helps your business thrive in areas such as customer…
With uncertainty regarding how long the impacts of the Coronavirus pandemic will continue, experts suggest we are still in the beginning stages. Unfortunately, small businesses already feel the drastic affects. Whether this pandemic resolves within the next month or two or stretches on as a long-term crisis, we need to prepare. Therefore, it is time…
Small business owners who recently opened their doors may feel inexperienced with the operational tasks involving bookkeeping. Quickly, they understand that running a company involves more than selling products or services, growing your client base, and increasing revenue. For those inexperienced with accounting duties, we are here to help. Below, we discuss the basics of…
Most people can work through filing an individual tax return. However, when responsible for submitting your small business taxes, a lot more is at stake. Though 93% of small businesses confidently believe in their ability to accurately file taxes, almost one-third also speculate they are overpaying. Tax season is a stressful time for any business,…
Operating a small business is demanding. Financial management, customer service, excellent communication, negotiation, project management, networking, and leadership are few of the many business skills required to be more profitable. Amidst daily demands, nagging requests, and unforeseen problems, small business owners often oversee a tight budget. According to the U.S. Small Business Administration, nearly 50%…
Effective vendor management is an often overlooked process. However, it is one of the most critical processes to ensure the smooth running of your business operations while planning for future growth. Building (and maintaining) strong vendor relationships results in: • Better quality products – More often than not, improved product quality results in happier…
As a small business owner, determining the ideal time to administer payroll may sound simple in theory. But the reality is that your payroll schedule must take into account a number of factors including: state regulations, cash flow needs, overtime rules, and the types of workers or contractors you hire. Simply put, you should…