BudgetEase Blog - Making YOU Profitable™

    Two Things a Successful Entrepreneur Should Never Do

    I heard this advice at the JumpStart EXPO from a very successful entrepreneur. When it comes to small business bookkeeping there are two things a business owner should never do:

    The Top Outsourced Bookkeeping Services in Cleveland

    As the CEO and founder of BudgetEase, an outsourced bookkeeping service in Cleveland, Ohio, I meet with hundreds of small businesses each year. As prospective clients weigh their options when choosing a partner for their bookkeeping, I often get asked who do I respect in the region.

    Is it Time to Hire a CFO?

    When is it time to hire a CFO? I spoke to Tom Gentile, partner at part-time CFO firm BeaconCFO Plus in Cleveland, to find out. According to Tom, reaching a certain size is not the indicator.  Situations cause the need for a CFO. Here are some he mentioned:

    Forgot to do your Bookkeeping in 2016?

    OOPS! 2016 is over and you forgot to do your bookkeeping. What should you do? You are not the only one. Every day we get a call from an optometrist or property manager who never kept any records last year. Here is what we do when faced with this dilemma.

    Real Estate Agents: More Time for Clients, Less Accounting

    As a real estate agent, you are more than likely paid as an independent contractor. Tracking your income from commissions and fees may be easier (and more rewarding) than tracking all the tedious expenses you incur each year.

    'Tis the Season: Reflect. Relax. PLAN.

    Happy Holidays to you and yours! As you allow yourself time to unplug and reflect may you find the closing of another year peaceful.

    5 Ways to Make Your Year-End Smoother

    1) Reconcile

    If you haven’t already caught up, now is the time! Reconciliation puts a spotlight on accidental double entries and other errors. Make your life and your CPA’s life easier so you can address any potential write-offs or other items for your tax strategy. Reconcile those bank accounts!

    Your 2016-2017 Tax Planning Schedule

    December 31st is fast approaching and some advanced planning will allow for smooth year-end processing. Below are a few helpful dates to plan your activities.

    Why a Bank Reconciliation Makes YOU More Profitable

    Business owners often determine their cash balance by checking what the bank shows online in the accounts at a point in time.  You cannot accurately forecast cash flow unless you match and verify activity in the bank statement to QuickBooks or whichever accounting system you use.  

    Know Your Real Worth – The Balance Sheet Basics

    Just as important as a proper P&L Statement, business owners should put equal weight on having an accurate balance sheet. Some owners find it challenging keeping the accounts in this report correct.  The simple formula on the balance sheet is: assets = liabilities + owner’s equity. Knowing your business’s real net worth is about more than just balancing.