• Tips and Guidance for Creating a General Ledger for Your Business

    Preparing financial statements on general ledger

    The record you create with double-entry bookkeeping is the basis for your general ledger.  The general ledger is a compilation of all the financial records you’ve kept since the inception of your business. Your general ledger acts as a complete archive of all the financial transaction you’ve made for your company since you started out. …

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    Which is Best: Single-Entry or Double-Entry Bookkeeping?

    On-boarding specialist creating accounting plan

    Good and transparent accounting is the bedrock of any successful business.  Keeping your books straight is a major priority whether you like it, or not.  Somebody’s got to do it! But an important question you need to answer is:  which is best:  single-entry or double-entry bookkeeping?  It’s a crucial decision but one which needs to…

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    Questions to Ask Before Choosing a CPA For Your Business

    Question mark

    A Certified Public Accountant is essential to the financial administration of any business, large or small.  Bookkeeping is necessary organization, but a CPA goes beyond this function. Not all CPAs are going to be right for your business.  Everyone you know will probably offer eager recommendations and those are a good start but getting the…

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    Brace Yourself! The 2019 Budgeting and Business Planning Season is Here

    Conceptual budget planning

    We can hear your groans from way over here, but budgeting and planning are necessities when you’re running a business. Sure, you’re busy.  Your world spins a little faster than a lot of people’s because you’re an entrepreneur.  But you’re a smart entrepreneur – which is why you’re here, reading this. If you’ve been putting…

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    Reasons to Use Time Tracking Even if You Charge a Flat Rate

    Business money and time tracking

    You’re a devoted adherent of the “flat rate” pricing structure.  It’s easy.  What you see is what you get and you deftly avoid the administrative headaches associated with tracking the hours of your team. But to know the true value of your services, time tracking is a useful tool.  Here are a few reasons to…

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    Key Financial Performance Indicators You Should Be Tracking

    Conceptual business and financial growth

    Key Performance indicators let you know how you’re doing – for real.  These tracking and measurement tools paint a picture of your organization’s true financial wellbeing. With the information provided by KPIs, you’re able to see where your weaknesses and strengths are, allowing you to make critical course corrections that save the ship from running…

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    How to Scale Internal Controls as Your Company Grows

    Internal controls checking balance sheet reports

    Most entrepreneurial efforts are boiler room operations at their earliest layer.  The principals are usually friends or close business associates, so there’s a lot of trust and excitement. And those early days are often very informal when it comes to keeping track of what’s coming in and going out. But the early days are when…

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    Tried and True Tips for Fixing Your Business’s Cash Flow Problems

    Cash flow concept image

    Money waxes and wanes.  Like the tides, it comes in and goes out and sometimes, the tide leaves you high and dry – just surviving. Cash flow problems are a normal phenomenon when you’re doing business.  But you can fix the problem with some smart tweaks to stop them having their way with your business.…

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