Accounting 101-Issue 59

Fear in Business:

Avoid Fear in Your Business Books

Just like that we have entered the last quarter of the year and 2019 is almost over. It is no surprise that the year has gone by as quickly as it has. When you are running your own business, you more than likely find that time is an elusive commodity. Wearing as many hats as we do, it is no wonder that we have reached the last quarter and have no idea where the time has gone. This is usually about the time where fear starts to set in as business picks up, holidays are around the corner and the end of the year approaches. These four tips will help you avoid that fear and put that energy into running your business successfully to the end of 2019. After all, let’s leave fear where it belongs, around Halloween.

Accounting 101-Issue 58

School Is In: Back to Business 

It is September, and the theme everywhere is back to school. Back to school involves the end of Summer and vacations along with the beginning of schedules and increased business activity. It is a great time to take steps that will ease us back in during this time period and the rush of the last four months of the year.

Accounting 101-Issue 57

Creating Profit: Is your business positive? 

Many small business owners understand that their numbers are important and that they should be looking at them. However, many small business owners are confused by what they should look at and what the numbers actually mean in a financial report at the end of each month.

Accounting 101-Issue 56

2019 Half Over: Build Healthy Business Financial Habits

It is surprising but true, half of 2019 is done. Checking in on business finances should be done monthly at the very least, but the halfway mark for the year is a great time to look at financial reports and have enough data on which to make decisions. This is also a good time to not only look at your books but also all of your business goals in general to measure the progress and make any course corrections as needed.  

Accounting 101-Issue 55

There’s an App for that…

As we step away from a busy first quarter that included taxes, we move into the second quarter which can mean many different things to different business owners. Business might be picking up as we get to the warmer months or business may be slowing down as the summer months may be your slowest business time. Whichever situation you find yourself in as a business owner, there are ways to make this time easier and smoother going forward. Technology has provided us business owners with the gift of apps to enable us to run our businesses smoother and with greater ease. In this newsletter, I will describe different areas that apps can be applied in your business.  

Accounting 101-Issue 54

Taxes Done, Now What?

Just When You Thought You Were Done Thinking About Your Finances This Month

April has arrived and there are a few important things that are happening this month. It will start to feel more like Spring, for most of us tax season will come to a most welcomed end and the first quarter is done. There is much to cover this month so let's get right to it.

Accounting 101-Issue 53

Spring Into Action-

It is hard to believe but we are already in the last month of the first quarter.  For some of us, it is the much-anticipated return of Spring. It is also time to spring into action in regard to your business finances. With the end of the quarter quickly approaching, it is an important time to actually look at your business reports and make any changes if necessary. Take the time to review your books, taking a look at your Profit and Loss and Balance Sheet within your financial system. These should be relatively easy to run in a financial system.

Accounting 101-Issue 52

Loving Your Books-

February has long been known as the month of love. In continuing with that theme for this month's newsletter, there are many ways that love is a component of having a small business. It is the most important necessity when it comes to having your own business. It is because you love what you do that you are able to invest tireless amounts of your time, energy and money into your small business. Without that love and passion, it would be incredibly difficult to achieve the business success you desire in your business.

Accounting 101-Issue 51

Small Business Owners-Accounting Goals: Have you started them?-

Happy New Year! It is already January in the new year, seems like yesterday we were planning our goals for 2018. Nevertheless, it is a great time to reflect on past results and prepare to take on 2019 by storm with your small business. The beginning of the year is a great time to set those goals in motion that you have for your business. It is a time to set the foundation so that you can put yourself in the best possible place to achieve them in 2019.

Accounting 101-Issue 50

Happy Holidays-Business Accounting Plans-New Year-

It’s the last month of the year, at this time you may be running in a million directions in your business. For some of us this month is our busiest, for others it’s where business tends to slow down significantly and yet others are already in planning mode for the new year. In whatever situation you find yourself in your business, as this year comes to close, it is the best time to assess where you are at financially in your business.  

Accounting 101-Issue 49

Small Business Accounting-Benefits of Being Prepared-

We are officially down to the last two months of the year. It’s also the 2 year anniversary of Balance Financial Solutions! I want to take a moment to thank you all for the support and trust you have so graciously given me during these first two years. It has been an amazing experience and I look forward to growing the business with you and being on your team to help you understand the story behind your business numbers. 

Accounting 101-Issue 48

Small Business Accounting-Top Tips for Your Business-

One of the areas that most business owners seem to dread and put off until they can no longer ignore it, is accounting. Most times this area is only touched upon once a year, at tax time. There are many instances when business owners just do not understand the accounting of their business. With the tax season quickly coming to an end, I have put together a list of top tips when it comes to small business accounting. Regardless of how the accounting was done for your business last year, with these tips you can right the ship for your business this year. 

Accounting 101- Issue 47

What type of accounting professional does my business need?-

There is much confusion over what type of services are offered by which type of accounting professional. The more common types of professionals that are used interchangeably are bookkeeper, accountant and tax accountant. While the services they each offer do build upon each other, they each offer their own type of services. Below is a list of services that each type of professional may offer. This will assist in deciding which type of professional you need based upon the needs of your business.  

Accounting 101- Issue 46

Lean Beginnings: Starting Your Business Small-

In our quest to start our small business, we may think that we need to spend on everything to begin. But the reality is as small business owners just starting out, lean is the best way to go. Don’t over-complicate or do so much that you begin and are already behind financially. You do not have to sign up for everything nor have the latest and greatest systems in place.

Accounting 101- Issue 45

Mid-Year: Is your business accounting in order?-

It’s already July, that means half the year is over. All those goals that you had set up for your business in 2017, should be theoretically half completed. Hopefully you will take the time now to look at those business goals and perform an honest evaluation. 

Accounting 101 - Issue 44

Accounting Reports: Have you looked at yours?-

Small business owners should make themselves very familiar with certain reports for their business. This allows owners to not only see how the business is doing but also allow them to make changes and improvements along the way.

Accounting 101- Issue 43

Automation In Accounting-

When you open a business, as an entrepreneur, we wear many hats in the beginning. As you start to piece your business together, you will find that there are two processes that will help immensely in your business. Those processes are automation and delegation. Automation is when you set up processes in your business to run by themselves. Delegation is handing off tasks to others in the business. 

Accounting 101- Issue 42

Top Ways to Get Paid Faster-

In small businesses, there are many activities that need to work smoothly in order for the business to be successful. We need to make sure we create the product or service for our clients, ensure our vendors/suppliers are paid on time and collect the receivables from our clients for what was provided. Each of these areas entail a set of ways to come together in order for the activity itself to run smoothly. 

Accounting 101-Issue 41

Small Business Accounting-Top Tips for Your Business-

One of the areas that most business owners seem to dread and put off until they can no longer ignore it, is accounting. Most times this area is only touched upon once a year, at tax time. There are many instances when business owners just do not understand the accounting of their business. With the tax season quickly coming to an end, I have put together a list of top tips when it comes to small business accounting. Regardless of how the accounting was done for your business last year, with these tips you can right the ship for your business this year. 

Accounting 101- Issue 40

Which accounting professional does my business need?-

There is much confusion over what type of services are offered by which type of accounting professional. The more common types of professionals that are used interchangeably are bookkeeper, accountant and tax accountant. While the services they each offer do build upon each other, they each offer their own type of services. Below is a list of services that each type of professional may offer. This will assist in deciding which type of professional you need based upon the needs of your business.