Are you ready for your personal taxes? Here is a handy checklist for business owners: Income reconciled. The most common mistake that I see with Etsy or other online sellers is that they would like to post the income netted…
Goals and Why they Matter!
One of the first things that I ask when I meet with someone new about their business, is what is their goal? Usually it’s a smattering of life/work balance/ successful business/adequate funding. However, that is not very specific. In the…
Year End Planning – Bookkeeping Challenge
It’s October now. Are your books in good shape for year end? Take a moment to check: Bank Accounts are Reconciled Credit Cards are Reconciled Fixed Asset transactions are reconciled. Accounts Receivable is Correct Accounts Payable is Correct These basics…
Today’s Bookkeeping Challenge
Today’s bookkeeping challenge: Have all the expense reports been prepared and paid? Why is that important? It’s easy to get behind and wait for people to submit expense reports. It can have a material effect on the financial statements and…
Are Your Networking Connections Useful or Not?
Today, I logged onto linked in. There was a declaration of “I have eliminated all un-useful people from my linkedin account.” It went on for a while. I wanted to comment, however, I was a bit worried that I might…
The Lure of ‘Instant Business Funding’
It looks like Intuit is getting into small business funding again. Hopefully, my linkedin feed won’t be peppered by all the QuickBooks Experts doing ‘thought leadership’ on what a wonderful opportunity it is.
Business License Check!
Today’s bookkeeping challenge is to double check that all your customers are properly licensed where they do business. This can be more difficult that it appears. First: Determine their nexus or where they do business. Nexus is the concept that…
10 Mistakes Bookkeepers Make When Starting a Business
Starting a Bookkeeping business has a fairly low investment cost. Many accountants have honed their professional skills, that when they lose their job, they think of starting a business around what they know best. However, I think you would be…
How do you Calculate Project Cost?
When I complete project management tasks for companies and non-profits; one of the most complex bits is to capture all the costs. Not just the obvious costs, the overhead, the labor and other non-obvious costs. Not all costs are foreseeable,…
Bookkeeping Challenge
Bookkeepers need to have quick reporting capabilities. The ability to quickly respond can greatly impact how your client views your work quality. Can you make the following reports in under five minutes? Sales Report by Product – Budget to Actual…