• Bookkeeping Tips

    Small Business Tax Preparation Mistakes to Avoid from the Pros

    tax preparation

    When it’s time to get your taxes in to the IRA, all your hard work over the year can come to naught in the heat of the moment. When you’re under intense pressure mistakes happen.  But they needn’t. We’ve compiled these small business tax preparation mistakes to avoid from the pros.  These are key areas…

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    Which Accounting Period is Right for My Business?

    a clock with tax instead of 12

    Perhaps you have just started a new business and you’re wondering how to choose the right accounting year for your business. Basically, there are two kinds of tax years: the fiscal tax year and the regular calendar year. The choice of your accounting year will significantly affect your accounting strategy and business taxes as you…

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    Top Payroll Service for Small Businesses

    payroll service image

    Contrary to what many people think, payroll is not a simple bookkeeping function or an annoyance that business owners or accountants have to take care of every month. It plays a crucial role in attracting, motivating and retaining employees. If miscalculation leads to errors, employees may become demoralized and dissatisfied. Errors in calculation aren’t the…

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    Small Business Accounting: Accrual vs. Cash Methods

    accountant working

    When it comes to managing your business’ books, one of the most important decisions to make is choosing which accounting method to use. Thankfully, there are only two options: accrual accounting and cash-basis accounting. While cash accounting recognizes expenses and revenues only when money changes hands, accrual accounting recognizes expenses when they’re billed and revenue…

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    How to Read Financial Statements

    Computer, smartphone and a pen

    Understanding financial statements is a great skill to have as a business owner. The numbers can tell you a lot when they’re subject to expert analysis. But when you’re a busy entrepreneur, your plate already good and full.  You don’t always have time to track performance, or for the kind of data analysis you need…

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    Creating A Projection For Your Small Business

    Accounting and bookkeeping projection for 2018 photo

    Why Create A Projection? Forecasting revenue & expenses for the year is crucial for your small business. Projections serve as a yardstick, which helps business owners plan and budget as the year progresses. The goal is to estimate Income & expenses for each month of the year. Once this is laid out, you will get…

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    Bookkeeping Tips for 2018

    2018 goals notebook and a pen

    Choose an Accounting Software (QuickBooks vs. Xero Accounting) If you haven’t already done so, you need to choose which accounting software to use in order to track your business finances for the new year. Two of the most popular options are QuickBooks Online and Xero Accounting. Click the links for further pricing & features on each.…

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    Small Business Bookkeeping & Financial Analysis

    Financial analysis on a computer

    Norton Financials is Hoboken, New Jersey’s source for Small Business Bookkeeping. The numbers can tell you a lot when they’re subject to expert analysis.  But when you’re a busy entrepreneur, your plate is already good and full.  You don’t always have time to track your company’s progress and success. Servicing existing clients and bringing in…

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    5 Easy Year-end Tax Tips – Small Business

    Business woman jumping from 2017 to 2018

    There are only a few weeks until 2017 comes to an end. Assuming the company books are tax-ready, below are 5 easy tips you can use as a small business owner to minimize your tax liability. 1.Consider purchasing new or used equipment. If your business is planning on purchasing equipment in the near future, it…

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