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 […]
What You Should Know About Tax Deductible Expenses
Do you know what types of expenses are deductible from your business taxes? A lot of factors can play into this, including what industry your business is in and whether you are a startup or not. The most common expenses that are deductible are any that are “ordinary and necessary.” Let’s dive into the different […]
Think you can hold off on hiring a bookkeeper? Let me change your mind!
It can be hard to justify hiring a bookkeeper, especially when your cash is low. What you might not know is that it can be more expensive to hold off with getting a bookkeeper. This is especially true if you are months off or your books are a mess. Let’s explore exactly why it’s important […]
How to Keep Your Business Budget With Black Friday
Ah Black Friday! Basically the free ticket to spend, spend, spend. It’s hard enough sticking to a budget throughout the year but the holiday season with all the sales makes it even harder. What can you do to stick to a budget? Obviously, there will be purchases that you want to get. So make a […]
A Succinct List of the Most Common Business Taxes
Taxes…they’re basically a guaranteed part of life, whether you like it or not. But taxes as a business owner is something else. You have your sales tax, both retail and wholesale, your wage withholding, oh and don’t forget your quarterly! What do all of these mean and how do you calculate them? [Just a disclaimer: […]
Forecasting the Future: What You Need to Know
You step into the bookkeeper’s dark office, closing the door behind you. She sits in front of you, several monitors behind her all showing the same thing: QuickBooks Online’s logo as a screensaver, dancing around like a rubber ball in a bouncing castle. “Please take a seat,” she points at the chair in front of […]
How to Maintain Cash Flow and Protect Your Business from Failure
One of the biggest killers of businesses is cash flow, specifically when there isn’t enough to keep the business going. Cash is king, as they say but this is especially true when you are trying to keep a business alive. A lot of this comes down to paying attention to what expenses you have currently […]
Six Good Reasons You Need a Bookkeeper as a Tradesman
A lot of you may be wondering, “If I already have a CPA or accountant, why would I need a bookkeeper?” While accountants are very talented at what they do, most don’t have the time to focus on the details that is bookkeeping and instead prefer to refer their clients to a bookkeeper. Bookkeepers are […]
Why you need a quality bookkeeper during a pandemic?
With the pandemic seeming to never end, small business owners are trying to reduce their money output to save money and keep their business running. Some may be thinking of letting their bookkeeper go. While this is completely understandable, let me tell you reasons why you, as a business owner, should hold onto your bookkeeper. […]