If you have a very small company with only a couple of checking or credit card accounts (designated solely for your business) and don’t want to pay for QuickBooks, how can you keep track of your financial records?
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Whether you operate a small business or large enterprise, you will have to account for payroll. Properly posting and reporting payroll will be a recurring task. If you follow best practices, you will journalize your payroll and use a payroll clearing account.
At the start of each year, you probably make goals and have dreams of where you would like your business to go and how to make it grow. You prepared what you thought to be a realistic budget. Preparing the budget is the first step; reviewing it at least monthly is as important to the success of your company. Don’t let your budget gather dust and never look at it again.
There will likely be a time when you are dealing with clients that may be negatively affecting your business. These are some of the red flags you should look out for:
Even small and medium-sized organizations can accept donations of stock. Here’s how:
When it comes to bookkeeping for small businesses, bank reconciliation is a very important aspect for any company. Reconciling your bank statement involves comparing your business transactions and balances with the bank’s transactions and balances.
Recently I converted a client from Sage Accounting software to QuickBooks Online. It was a learning experience that I thought would be beneficial to share. There are important steps to take when converting a file to QuickBooks Online. I'll outline them here.