How to Develop and Improve Accounting Systems

Every business needs a good accounting system, but putting one in place is much easier said than done. Even improving an existing accounting system can be a struggle if you’re not sure what gaps exist in your system, so here are some ways you can identify your needs, and then either develop a new accounting…

Read More

4 Benefits of Financial Accounting for Business Owners

I talk to a lot of small business owners, and I don’t think I’ve ever heard one of them say they went into business so they could do financial accounting. At the same time, if you want your business to succeed (much less thrive) you need to keep accurate recording, summarizing, and reporting your company’s…

Read More

10 Accounting Terms Explained

Like most industries, accounting has its own jargon for describing certain things within the industry, and while these terms might make communication easier for accountants talking to tax professionals and other accountants and bookkeepers, it can leave a lot of other people feeling lost. That can make it scary and counterproductive when you’re trying to…

Read More

5 Steps for Preventing Expense Fraud

While there are benefits to giving your executives and upper management employees company credit cards or reimbursing them for the expenses they incur while on business trips and wining and dining clients, using that credit card for personal expenses can sometimes prove too tempting to resist, even for employees who mean well. While the occasional…

Read More

Effective Debt Management for a Business Owner

Sometimes you have to go into debt to start or build your business. It’s not necessarily a bad thing, but it can be scary, especially if you start falling behind on your payments. Ideally, once you’ve had a chance to build your business and leverage the resources you bought with your borrowed money, you’ll be…

Read More

Can Accounting Software Help Reduce Costs?

I always say that I don’t know anyone who went into business to do bookkeeping. Creating and sending invoices, recording payments, and reconciling your revenue and expenses with your bank statements all take time, and as a business owner, you have enough on your plate without having to deal with all those repetitive tasks. The…

Read More

When Are Business Taxes Due in 2022?

We all know individual taxes are normally due April 15th, but in 2022, that deadline is April 18th. But what if you own a business? Understanding when business taxes are due depends on the kind of business you have, so let’s start by taking a look at all your options for incorporating your business. Sole…

Read More