Small businesses often begin as passion projects. You start doing something you love and then discover a market for your products or services. You may begin selling those products or services, recognize that you need to purchase more supplies, and hire a part-time...
If you’re a small business owner or entrepreneur, you’ve probably heard of GAAP, the Generally Accepted Accounting Principles. This set of accounting principles provides standard rules and methods for businesses to collect and report financial information. In...
If you’re like most small business owners, you probably haven’t put much thought into accounting methods. You may or may not even be aware that you have options when deciding how to do your accounting and that your choices will impact how you produce your financial...
Making sales and bringing in money is among the most enjoyable parts of running a small business. Revenue is a proof of concept for your business idea. It shows that people are interested enough to pay you for what you’re selling! But running a sustainable small...
Running a business is no easy feat. You must juggle the demands of your customers along with keeping your records in check. Although most business owners don’t enjoy diving into spreadsheets and number crunching, keeping track of all the money that goes in and out is...
Maintaining accurate financial records is crucial to the smooth operation of any small business. Bookkeeping entails maintaining precise and accurate records of all assets, liabilities, income, and expenditures through a solid chart of accounts. However, many small...
Due to record-high inflation rates, Americans have watched prices soar over the past two years. Unfortunately, these same increases haven’t come in the form of raises or other income increases, which has left many people in severe financial hardship. Although many of...
Being a freelancer allows you to work on projects that interest you at your own pace. Freelancers can pick work from several clients across many time zones and in different areas of expertise. This freedom, however, comes at a price. Freelancers and self-employed...
Whether they've just gotten started or established a franchise, business owners can face inevitable challenges and struggles. Bookkeeping is one of the critical aspects of owning a business, and inefficient bookkeeping practices can result in serious problems....
As a business owner, you are likely very busy. With all the day-to-day responsibilities business owners face in managing and running their business, managing the business’s books can feel tedious and it can be tempting to put off bookkeeping responsibilities...
When managing your business, navigating the financials and federal compliance can feel inundating without proper knowledge or training. When considering partnership with an outsourced financial professional, are you having a hard time distinguishing a CPA from an...
Most small business owners and entrepreneurs juggle every aspect of business management, from administrative tasks to bookkeeping duties. At some point, however, many owners reach a point where managing every task becomes overwhelming, an ineffective use of time and...
