The Amazing Benefits of Having a Bookkeeper
As a business owner, you have a lot on your plate. You’re managing employees, overseeing operations, and making critical decisions that impact the success of your business. However, one area that’s often overlooked is bookkeeping. Having a bookkeeper can make a significant difference in the success of your business, and here are some key differences between […]
Is a Bookkeeper Important for Your Business?
When thinking about hiring new staff, the primary focus often falls on those who can directly drive sales. This is especially true when scaling your business. However, it’s essential to ask yourself some critical questions: Can you afford to hire an employee? Do you know which sales stream is the most efficient? A bookkeeper can […]
What Value Does a Bookkeeper Bring to the Table?
The value of a bookkeeper is not always clear. Business owners hire bookkeepers for different reasons and at different stages in their business. It all comes down to what is causing your pain or what you find the most difficult. You may also just want to stay in compliance with the IRS to protect your business. Here […]
Hate Your Bookkeeping? Here’s Four Reasons Why
Most business owners hate doing the bookkeeping work. Each of us have our own kind of talents and weaknesses. This is what makes our world a beautiful place. That’s why in business it’s always best to outsource the things that you are least talented in. For me, that was my website. But for you, it […]
What You Need to Figure Out Your Profit Margin
When scaling your business, the number one thing you want to keep in mind is your profit margin. Profit margins are how much you are making with each project minus any overhead costs. Percentages do vary with 4 to 6% for commercial contractors. It can also get up to 23% for residential contractors like remodelers. […]
Here’s How to Stop Getting Burned from Underestimating Jobs
Do you find you underestimating your jobs all the time? You might need to start getting help from your bookkeeper or figure out how to track your expenses. This is one way you can start getting a better understanding of what projects cost. You will then be able to better estimate your jobs. Let’s start […]
Which Accounting Software is Best?
Quickbooks Online is the most common accounting software in the US. But did you know there are other accounting softwares? They range from subpar to somewhat comparable to QBO. All work for the same purpose though: keeping track of your income and expenses. What makes each one different? Let’s take a look! Quickbooks Online is popular […]
Three Invoicing Mistakes: How to Avoid Them
Not enough cash is the number one killer of small businesses, no matter what the industry. You can’t grow if you don’t have enough money to pay for supplies, marketing, and payroll. It’s worse with the trades industry. A lot of times clients are slow to pay or aren’t charged until the end of a project. […]
Cash or Accrual Basis: What You Need to Know
Have you heard your accountant or bookkeeper toss the phrases accrual or cash basis? What does it actually mean? How does it apply to you and your business? It’s important to know the difference because it changes how you run your business. Let’s get into the differences. Let’s say you make an invoice for $1,000 to […]
When is the Most Effective Time to Hire a Bookkeeper?
You might be asking yourself, when should I hire a bookkeeper? That’s a great question! The best answer is when you feel ready. But here are some other instances that might force you to hire a professional: These are all good ideas of when it’s best to hire someone to do your bookkeeping, such as […]