by Fran McCully | Jul 19, 2018 | Accounting, Business Tips
Fixed assets are special kind of assets in your business. They include land, buildings, equipment, furniture, and vehicles that your company owns. While we frequently look at expenses to cut costs, fixed asset management is another place we can look to find ways to...
by Fran McCully | Jun 21, 2018 | Accounting
Social security is one of those topics that seems to be minimized by statements like, “You can’t count on it,” and “By the time you reach retirement age, it won’t matter.” Those statements are not only incorrect; they contribute...
by Fran McCully | May 10, 2018 | Accounting, Business Tips
The income statement of any business is probably the most important report of all. It is a snapshot of the financial performance of your business over a period of time, such as a month or year. You might also hear it called the Profit and Loss Statement, or P&L....
by Fran McCully | Apr 26, 2018 | Accounting
The field of accounting has its own vocabulary, which can sound like a foreign language to some people. Your financial savvy will increase by learning a few new accounting terms. You’ll be “speaking accounting-ese” in no time, and you’ll become...
by Fran McCully | Feb 15, 2018 | Accounting, Bookkeeping Tips
Many new business owners are daunted by the idea of bookkeeping and accounting; most have not been trained to any degree in either field. Obviously, for the professional bookkeeper or accountant, both are fairly simple. Bookkeeping is the practice or profession of...
by Fran McCully | Nov 9, 2017 | Accounting, Business Tips
Your “Chart of Accounts” is the list of accounts in your accounting software. The accounts are listed in your reports, and the totals allow you to determine how much you’ve spent, made, own, or owe depending on the type of account. It’s essential to create a list of...
