Business growth is a goal every small business owner wants to accomplish. However, there is no such thing as overnight success. You need to work hard so you can accomplish your goals. Although small business owners try to avoid incurring additional expenses, a company cannot successfully operate without a good bookkeeper. A bookkeeper keeps your […]
Start-up businesses fail because of placing other business goals ahead of cash flow. Although it is necessary to generate sales leads and build your brand, cash flow is still an important aspect of your business. Your company needs cash in purchasing additional products, building up your team and even growing your business. Cash flow shortage […]
When starting your own business, cutting costs by avoiding unnecessary spending is the technique you want to employ. To some business owners, hiring a bookkeeper is tantamount to an expensive luxury. Some would rather resort to DIY bookkeeping to file or fill out the necessary paperwork. However, not hiring a bookkeeper can also be a […]
Is there a technique that business owners and bookkeepers should employ when it comes to maintaining clean and error-free records? Good record-keeping practices must be observed so taxes and other important bills are paid on time and the business’ financial standing is properly identified. There is no need to consider complex techniques because all it […]
A business owner relies on financial statements to find out about the performance and condition of past and future operations. It is considered the lifeblood of any business because it clearly provides an idea which direction your business is heading. Balance Sheet There are three important elements that should be found in your balance sheet: […]
Your business can head straight towards the pit of disaster if you do not pay heed to one of the most important aspects of bookkeeping: cashflow. From using your business accounts for personal expenses to failing to keep important receipts, all of these can wreak havoc on your business. When a business is faced with […]
When it comes to maintaining your books, a bookkeeper should play an important role. It is critical that you discuss your concerns with your bookkeeper and this is where setting up a bookkeeping system comes in. There are businesses that are dragged into a lawsuit because of mishandling funds. Your business cannot afford bad bookkeeping […]
When you are dealing with large amounts of money on a regular basis, people who are appointed to accurately monitor expenses can be easily tempted. When these anomalous transactions are discovered, business owners are already clueless about the unexplained financial activity. As a business owner, ensuring fraud risk is minimised is in your hands. The […]
Bookkeeping technology has evolved and it keeps on getting better and better. A task that used to require hours can now be done in minutes. Any information can be retrieved from a database and the tasks that can take so much of a bookkeeper’s time are now fused into one. When the latest bookkeeping technology […]