Accounting
Your Daily Numbers
Some numbers need reviewing on a daily basis, and one example of this is cash. When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to make sure all the collections hit your bank account so you can feel confident that…
Read MoreDoes Your Accounting Department Have Holes in It?
Does Your Accounting Department Have Holes in It? You’ve got someone to do your federal and state income tax returns, and you have a bookkeeper. So that’s all that a small business needs when it comes to having an accounting department, right? Wrong. Large companies have many functions in their accounting departments, and small and…
Read MoreThe Short and the Long of It
The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics of a balance sheet is how it separates what you own and what you owe…
Read MoreDo You Have a Revenue Plan for 2015?
A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet. Start by listing…
Read MoreCatching Up with Your Contractors Before 1099 Time
In a little over a month, it will be 2015 and time for year-end accounting chores. One of those chores is getting your 1099s out, and now is a good time to tie up loose ends so the year-end process can go smoother. Here are some tips to do just that: Go through your vendor…
Read MoreWhat Is Real-Time Accounting (and Why Should You Care)?
Real-time accounting is when your books are caught up to the present and you know exactly where you stand with your account balances, revenue, and profit. It’s truly doing your accounting in real time. The opposite of real-time accounting is getting your books done once a year (or worse, being years behind). When you wait…
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