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:
As last year winded down and you looked toward this year, you probably had goals and dreams of where you would like your business to go and how to make it grow. You prepared what you thought to be a realistic budget. Preparing the budget is the first step; reviewing it at least monthly is as important to the success of your company. Don’t let your budget gather dust and never look at it again.
1. Download Bank Transactions
If your bank doesn’t offer this service for free, consider using another bank. Downloading to QuickBooks has become a universal service.
2. Review you General Ledger monthly
A quick review monthly to make sure all your transactions are in the correct account will make year-end a breeze.
Many of our clients agonize over starting a conversation with a lender to obtain a loan to grow their business. They don’t know where to start. Here are 3 places for small businesses to look to borrow funds.
Sometimes bookkeeping for small businesses can be frustrating, both for you as an entrepreneur and for your bookkeeper. They slow you down by asking questions about things that you would rather not deal with, like:
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.
5-Point Checklist: What to Send Your Accountant
Where does the time go? If you are already looking at the calendar and wondering how to accomplish a lot of reporting in a short time for tax season, we understand.
There is a double Employer Tax whammy hitting employers in Ohio for 2017:
- FUTA Tax Credit is lower.
- Ohio Jobs and Family Services Rate is temporarily higher.
If you are an employer filing W-2s and 1099s for the work completed in 2016, there are no longer two dates to remember. Now, employers have one date to file