While we all have to keep our monthly books up to date for tax and other compliance reporting purposes, we should never stop there. Your books hold a wealth of information that you can use to run your business better. Here are five reports you should never be without. Budget-to-Actual Profit and Loss Statement Hopefully, […]
The Chart of Accounts is the backbone of your accounting records. It is a list of all of the accounts – bank, loan, asset, revenue, and expense – in your General Ledger, which holds all of your accounting transactions. Think of your Chart of Accounts as a collection of buckets that hold dollars of items […]
Are you familiar with Clubhouse? This social media platform is still pretty new, but currently picking up steam. Perhaps one of the easiest ways to describe Clubhouse is like this: When you were a kid, did you ever hold a glass to a wall with your ear glued to it in order to hear the […]
Every business organization owns assets that need to be protected from threats. If these assets are not protected, business owners may face losses and an interruption in business operations. One way to be proactive in reducing organizational risk is to implement strong internal controls. The concept of internal control is a foundational principle for accountants. […]
All small businesses need cash to operate, and there are many ways to generate the required cash. The most common way that many businesses get started is when the owner makes an investment from their savings or other personal cash. But what if it’s not enough? In this article, we’ll take a look at some […]
In accounting, a key term to know is “internal control.” Internal control is the series of processes and procedures that are performed within the organization to ensure the integrity and accuracy of the financial information and reporting of that organization. Internal control is very important to consider in order to protect the business owners, employees, […]
Sometimes it’s hard for business owners to know how to take their businesses to the next level of growth and profitability. If you’ve been stuck at the same revenue or profit level for a while, it could be because knowing how to scale your business is not a skill in your skillset — yet. Enter […]
We’ve been in a pandemic for what seems like five years now, right? All joking aside, if you’ve been lucky enough to work from home this past year, then it’s possible that you are in the process of going stir-crazy. Or maybe you’re simply ready to shake things up a bit. Working from home has […]
Do you have a lot of customer service inquiries in your business? If so, it can be a challenge to manage them all. Being responsive with customer service can make all the difference in your company’s success, so it makes sense to take a look at some tools that can streamline the process. The most […]
If you keep any kind of digital information in your business, you have a chance of becoming a victim of a cybercrime. The odds have increased exponentially during the pandemic, with more cyberthreats and scams floating around than ever before. Here are some ways to reduce your chances of getting attacked. Social Engineering Social engineering […]