fbpx

Entrepreneur Tips

Calculating and Reporting Year-End Inventory

What Is Your “Year-End Inventory Value”? This is the total dollar value of all products in your warehouses as of the end of your fiscal year. We adjust your inventory account in QuickBooks to ensure the balance in your warehouse matches the balance in QuickBooks. Why Do We Do This? We do not have direct…

Filing 1099s- Who Gets One?

It’s the 1099 time of year again! But what does that mean and who should pay attention? Read on to find out! First off, it’s not the 1099 you’re used to this year! Of course with everything else going on in 2020, the IRS decided to throw one more curve ball and change the decades-old…

How Much Should You Be Spending On Payroll Processing?

Finally, an article written for the budget-conscious small business owner who wants a simple answer to the question, “How much do payroll services cost?” Sort of… We hate to break it to ya, but as is often the case, the answer is not so simple.  That’s because payroll processing fees depend on multiple factors that…

Tips to Make Small Business Bookkeeping Easier

Nobody enjoys bookkeeping any more than they enjoy doing laundry. Nevertheless, it has to be done. But what if we told you there’s an easier way? One that would significantly reduce the amount of time and effort you spend on this tedious task? Well you’re in luck, because in this article we offer accounting advice…

What Are The Deadly Sins of Bookkeeping?

As an accounting firm, we’ve seen our fair share of bookkeeping mistakes. But some are worse than others.  While some mistakes are relatively minor and can easily be corrected, others are far more egregious and can have devastating consequences. In this article, we’ll be talking about the more serious offenses; the ones that can end…

Benefits of Outsourcing Your Bookkeeping Services

In business as in life, there are tasks you enjoy doing and others that are pure drudgery. It’s safe to say that for most entrepreneurs, bookkeeping falls into the pure drudgery category.  The good news is, you don’t have to do it.  Wait. Let us rephrase that, because what we really mean to say is…

What Is Bookkeeping? A Step-by-Step Guide to Bookkeeping

Confused about what bookkeeping is and what exactly it entails? You’re not alone. Every year, hundreds of entrepreneurs come to us with little to no knowledge of bookkeeping—and that doesn’t make them any less intelligent or capable of running a business.  So don’t feel stupid for asking questions like, “What is bookkeeping?” and “Should I…

34 Accounting Terms Every Entrepreneur Must Know

If accounting makes your head spin, you’re not alone. Many entrepreneurs feel this way—and rightfully so! It’s a complicated field, after all. But don’t worry, in this article, you won’t actually be doing any math (whew!). Instead, we’ll teach you some basic accounting terms you need to know in order to talk shop with other…

Inspirational Quotes for Struggling Entrepreneurs

Are you a struggling entrepreneur on the brink of giving up? Read these inspirational quotes before you make a decision you may regret for the rest of your life.  “I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.” — Steve Jobs, co-founder of Apple Inc. “Tough times…

How to Calculate Your Net Income: Easy Explanation + Examples

Being a small business owner comes with a lot of challenges, especially if you are new to being in business. One of those challenges is learning the terms that go with running a business which includes learning about accounting and bookkeeping. In this article we’re going to cover the concept of net income, which many…