Everyone talks about how bookkeeping is a great way to prepare for taxes. That’s the first thing people think of when they think of “bookkeeping”. Ok, true. Having sound accurate up-to-date books certainly gives you a leg up for tax time. Having a valid Profit & Loss statement gives the accountant information that will streamline …
…no, that’s not a typo. September (unbeknownst to me at least) is Self-Improvement Month, Disaster Prep Month, Responsible Dog Owner Month, AND National Velociraptor Awareness Month… among other things. So, let’s break this down. In honor of Labor Day (yeah, that’s on the calendar too!) and kids going back to school (disaster!), we are focused …
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We see it all the time – during discovery sessions, we find assets that are not posted on the books. Let’s review the top four we typically see missing. Top 4 Missed Assets Often, assets get overlooked and never make their way onto the books. There are four common asset areas where business owners struggle …
The real question is which is most appropriate to your business! Both have value in the right situation. Cash basis accounting is best used for personal finance and microbusinesses. This is the method that chronicles transactions as they occur. No invoices are recorded until they are paid, no bills are documented until the money is …
