Why Having a Budget Is Important

As an entrepreneur, you likely place a high value on freedom. When the word “budget” is mentioned, you might cringe and feel like it hampers your freedom. But it’s really the opposite. Here’s why. According to a 2019 article in Small Business...

Cool Tech Tools: Zoom

More and more small businesses are finding virtual meetings useful. Virtual meetings have many advantages: No travel time is needed for participants, so you’ll save on gas and auto maintenance. They create an ability to visually connect with remote employees,...

Five Key Reports for Your Business

Each month, your accounting system yields actionable information for you to run your business better. Here are some key reports that all business owners should review every month. Balance Sheet A quick review of the balance sheet can tell you the balances of your...

Understanding Cost of Goods Sold

The account on your income statement called Cost of Goods Sold can be confusing to non-accountants. In this article, we’ll attempt to de-mystify it and explain how it works. Cost of Goods Sold is an account in your Chart of Accounts that is a very special type...

Mid-Year Review

Can you believe that half of 2019 is gone already? That means it’s a great time to take stock of how your business has done for the first half of 2019 so that you can meet your financial goals for the entire year.  On Track for Sales Are you on track to...

Do You Know Who Your Top Customers Are?

Every business has customers, and while all customers are important, most entrepreneurs will agree that some customers are more important than others. This may be due to the amount of revenue the customer brings in, their ability to refer new clients to you, the...

Accounting-Related Policies

Setting customer expectations in your business is essential to gain the trust of your customers, avoid conflicts, and maintain a high level of customer service. One way to set customer expectations is to clearly state policies that are customer-facing. Many of these...

How AI Is Changing Accounting

Artificial intelligence (AI) has arrived in the accounting profession in a big way. The good news is it’s streamlining accounting tasks, finding patterns in data you can take action on, and generally making things better. Here are just a few places we’re...