Did you scramble to find copies of your vendors’ W9s last year? It’s time to prepare to make the job easier for this year. Here are some tips that can proactively help you slide through next January with ease:
Many small businesses choose to do their own bookkeeping for a variety of reasons, including perceived cost savings. Others hire a cheap bookkeeper or hire inexperienced staff to cut costs. The truth is, bad bookkeeping is costly; here is why:
Do you know where your business’ money is going? If not, it’s time to look further. A great way to find out is by using the cash flow statement, or statement of cash flows. Along with the balance sheet and income statement, the cash flow statement will identify where your revenue is coming from and where it’s going.
Have your clients asked for help finding a good bookkeeper recently? We offer the highest-quality bookkeeping services for small businesses in Cleveland. Here’s what some of our clients have to say about us!
While you don’t want to mismanage any of your accounting records, mismanaging a trust account (IOLTA – Interest on Lawyers Trust Account) can have terrible consequences. Keep in mind, trust funds are not your money, at least not yet.
What do you need in an Expense Report? To save you and your bookkeeper time, incorporate the following seven features into your Expense Report.
Budgets can feel like a chore or a forgotten item on the to-do list when you are caught in the throes of running your business. But, how often do your goals come alive if you don’t have a plan or if you don’t measure your results?
In-kind contributions can be an important source of non-profit revenue, particularly if the item or service is central to the organization’s mission. Often, in-kind gifts can help your non-profit provide programs and activities at a reduced cost.
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.