Do you know where your business’ money is going? If not, it’s time to look further. A great way to find out is by using the cash flow statement, or statement of cash flows. Along with the balance sheet and income statement, the cash flow statement will identify where your revenue is coming from and where it’s going.
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:
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.
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.
Do you struggle with keeping track of your Travel Mileage at your small business or startup? Do you find keeping track of your mileage to be a tedious task? I do. At the end of every year, I go through my calendar, note all the business events that I drove to, calculate the mileage using Google Maps, add up the miles on an excel spreadsheet (and I don’t drive nearly as much as many of you), and after multiplying by the allotted mileage reimbursement, I have entered a tidy business expense.
If your small business has fixed assets or property, how do you determine the amount of depreciation to be entered into QuickBooks? Best practice is to use your accountant’s depreciation schedule, adjusting journal entries or an accountant copy update file to bring your QB in line with the tax return. If none are available, use this approach:
The selection process for deciding which bookkeeping tool is best for your business can be tedious and challenging to decipher in terms of features and benefits. If you've landed on QuickBooks®, congratulations! You've chosen what we at BudgetEase consider a necessary and highly effective tool to help make YOU more profitable!
It is known that most Americans leave several days of vacation on the table each year, but what about the business owners? We rarely break away from our beloved business for evenings and weekends, let alone a few days or a week away. Pride and passion drive our vision, mission and ideally a strong bottom line.
Here are few reasons why you should give yourself permission to vacation:
If you have a very small company with only a couple checking or credit card accounts (designated solely for your business) and don’t want to pay for QuickBooks, how can you keep track of your financial records?