BudgetEase Blog - Making YOU Profitable™

    Do I Need an Accountant, Bookkeeper, Controller, or Fractional CFO?

    It can be confusing for small business owners to determine what professional service is needed. Typically, more than one service is necessary. Below are the differences in professional services available for you to determine which ones are best for your business.

    When You Hire the First Employee at Your Small Business

    One of the most exciting things a small business owner will do is hire their first employee. Though it make take some time to find the right person, after you're through the interview and references check process, and you're ready to say, "You're hired!", there are a few things you need to plan for on your end. We have some tips to help you get started.

    Year-end is Around the Corner: Finish the Year Strong

    It’s that time of year, rounding out the fall season and sliding into the last few months of the year. We get lost in the day to day work and those unexpected events. Take a moment to take stock in what you and your business have right now and see where you are compared to where you started the year.

    Sales Tax Struggles

    When we do catch-up work, sales tax issues are a constant challenge. Many business owners struggle to figure out their sales tax, but we have four steps to make things easier and help keep your sales tax payments accurate.

    Major Issue: Undeposited Funds Managed Incorrectly

    9 out of 10 clean-up projects we work on involve mismanaged undeposited funds. Sometimes thousands of entries are hiding behind the scenes. As a result, income is overstated and our client doesn’t have a realistic grasp of how their business is doing.

    CPAs and Bookkeepers: Why You Need Both

    Our clients often ask us to help prepare their taxes in addition to the small business bookkeeping assistance we provide. Instead, we refer our clients to a CPA firm to provide tax preparation assistance. Why? Let’s look at the primary purpose of a CPA and a bookkeeping firm.

    6 Bookkeeping Time Savers for Small Businesses

    When it comes to running a small business, there is so much involved. Marketing, production, staff, research, development... the list goes on and on. Finance is also a big and important part, and keeping accurate tabs on your company's financials is crucial. To help business owners along, here are some bookkeeping time savers to help make financial management a little more efficient.

    4 Advantages of Outsourced Bookkeeping Services for Small Businesses

    Your business has a focus and chances are it is not bookkeeping. You can try to manage your accounting needs in-house, assign some tasks to an office manager and take others on yourself, but think about a day where you didn’t have to do any accounting work. Your office manager could focus on customer service and you could focus on running and growing your business. In addition to making better use of your time, scalability, cost and expertise are other reasons why outsourcing your accounting operations makes good business sense.

    Benefits of Budgeting for Your Business

    Just as a personal budget can help ensure enough money is saved for retirement, a business budget can help ensure the company can succeed long into the future. Budgets also help start-ups step off on the right foot. Even without historical expenses data, taking the time to forecast income and expenses for the month, quarter and year(s) ahead will help keep your business lean, efficient and open for business.

    Comparing and Adjusting a Business QuickBooks File to Match a Tax Return

    Want to make sure your business QuickBooks (QB) file agrees with your tax return? Best practice is to use your accountant’s adjusting journal entries or an accountant copy update file to bring your QB in line with the tax return. If neither are available, we suggest using the following approach.

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