We want you to get to know a client of ours, Homewatch CareGivers. They provide kind, compassionate and qualified care to their homebound clients, tailored to their unique needs and in their preferred surroundings. Two of their main objectives are high-quality care and interpersonal relationships. We hear over and over how the team at Homewatch provides the much-needed care for families and friends that can’t take care of themselves. We can’t recommend them highly enough.
In short, yes. It is recommended that small businesses reconcile their accounts at least monthly, although some small businesses reconcile daily for cash flow reasons. This step-by-step video shows how to reconcile your bank account using QuickBooks.
The process of comparing your balance (known as the book balance) to the bank’s records (bank balance) is important for the following reasons:
Meet Maximum Value Partners, LLC, a company dedicated to helping small businesses grow. As a dynamic duo, Adam Sonnhalter and Jack Mencini work together to provide high-value coaching to business owners. At BudgetEase, we have seen their coaching in action with our clients. Their results are impressive.
Bookkeepers are an integral part of your financial process. They do the heaving lifting to keep your financial information up to date and correct.
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 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.
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.
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.
If you pay your employees every other week but your income is recognized monthly, your revenue will not be matched to the expenses that helped earn it. On your income statement (P&L), expenses would be understated some months and overstated others.
One of the benefits of hiring an accounting/bookkeeping expert is the ability to meet with them after month-end close, to have them explain your financial statements to you and to help draw your attention to important aspects of the financial data. A monthly financial review meeting is a good starting point to ensuring your business is staying on track. Here is what we recommend you review: