One of the most exciting things a small business owner will do is hire their first employee.
Here are a few tips when you do so:
What is a donor restriction and why is it different from a board restriction? In this quick video, Cindy Gill explains the difference:
I hear regularly "I want to improve my profitability."
Here is the P&L from a company that improved their return on sales to 20% from -3.6% the prior year:
Stop by if you are having a hard time setting up your QuickBooks, are not sure what version of QuickBooks you should use or know there is something wrong with your QuickBooks that you don’t know how to fix, As a small business owner, financial stability is important.
Small business owners wear many hats, and it's easy to let things slip through cracks (like that great marketing campaign you were going to do for the holidays). It's nothing to feel bad about... when priorities shift, your attention and time needs to as well. There are plenty of tasks that can be tabled, but there are some that border on dangerous when delayed, and bookkeeping is one of them when you get too far behind. When you let it pile up, the details start to slip and are harder to reconstruct. So, we thought we'd share a few of our sagely tips that seem to be useful in keeping the time spent tracking your finances as efficient and effective as possible.
There are a lot of options for financing your small business. You can opt for the traditional method of a loan via a bank. Alternatively, you could take advantage of crowdfunding.
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 notice:
Client doesn't Pay on Time:
Anything over 90 days is a big red flag. Slow payment reduces your profit margin. This client may not be as profitable as you think. The more time it takes to pay you, the more likely your client will forget the great work you did for him or her. Your client is paying at least a few of their bills. Make sure you are one of them.
With the holidays behind you and the beginning of a new year, your small business has an important deadline approaching. If you have paid $600.00 or more to individuals in the form of non-employee compensation you are required to provide a Form 1099 to those by individuals by January 31, 2020.
We share a lot of information with our readers because, frankly, there's a lot to talk about when it comes to finances and it's our favorite topic! Here we've compiled our most popular posts of 2019 so you can be sure you didn't miss them!
There are many tasks involved with small business bookkeeping. These tasks often take much longer than we expect because concepts are easier to understand than to implement.
Here are some simple solutions to your bookkeeping problems:
