When is it too late to start a budget? Some business owners don’t use a budget, and as a result, aren’t sure where money is being spent. Maybe you created some projections at the beginning of the year but are missing the mark on the sales side. Even though half the year is over, you can gain some valuable insights by assessing your first-half actual results to create a new budget.
The current economic environment has been challenging for all business, particularly small business. To that end, it’s important to know your Burn Rate and adjust spending accordingly.
You may have heard people talking about scenario planning given the current state of the business environment. Should you be scenario planning? Before deciding whether you should, or should not, allow me to explain what it is.
The question many of our small business owners have is how to manage fixed assets. Here we walk you through identifying which assets are fixed, and then an example of depreciating a vehicle.
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.
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:
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?
When hiring new employees, it is important to consider all the steps and pieces of your business that will be impacted by the human resource investment. Not only are you paying the hourly wage or salary, but also potentially: