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. …

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…

The time has come.  You’ve got all your ducks in a row and your ticket and hotel are booked.  You’re headed off on a much-needed vacation. But in the back of your mind, the wheels are spinning at warp speed.  You’re walking away from your business, leaving it in the hands of your trusted employees. …

Is the title alone making your head hurt?  Don’t worry.  It’s not as complicated as it sounds. Instead of starting with the subject of the title, why don’t we first define how a business plan, a forecast and budget are all part of the same thing? All three of these practices boil down to having…

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…

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…

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…

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…

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…