How to Prepare for Your Year-End Financial Review: A Guide for SMBs

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As the year draws to a close, it’s time to take stock of your business’s financial health. A year-end financial review isn't just a box to check—it’s a crucial opportunity to assess your profit and loss, evaluate growth potential, and…

Top 5 Accounting Mistakes Small Business Owners Make and How to Avoid Them

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Proper accounting is the backbone of any successful small business. It ensures that your financial records are accurate, helps you make informed decisions, and keeps you compliant with tax regulations. However, many small business owners,…

How an Accounting Pro Can Help You Create and Stick to a Budget

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Maintaining a clear and effective budget is crucial for success. Yet, many businesses are overwhelmed by day-to-day operations, often making financial decisions without a solid forecast. This can lead to unexpected financial troubles and missed…

The Hidden Costs of Sloppy Bookkeeping

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A recent Stanford study reviewed the aftermath of the Enron collapse and the repercussions to Enron's accounting firm's former clients. The primary trend they identified was when former clients issued accounting restatements or revisions because…

Warning Signs That You Should STOP Managing Your Own Books

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Warning Signs That You Should STOP Managing Your Own Books  On the one hand, it's almost a prerequisite for entrepreneurs of all types to have that "can-do spirit." That sense that nobody else sees things quite like they do so, whatever it…

All the Signs That You May Need Some Assistance With Your Bookkeeping

Especially in the early days of a business, it can be natural to want to handle as many day-to-day tasks yourself - bookkeeping included. Sometimes, it's in an effort to save money. Often, entrepreneurs just feel like they're in a better position…

Keeping Up With Receivables: Know Who Owes You

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QuickBooks Online provides numerous ways for you to know which customers owe you money – and who is late. There are so many financial details to keep track of when you’re running a small business. You have to make sure your products and…

The Right Accounting Method for Your Business

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Every small business — whether a respected local mom-and-pop retailer, a startup tech company, or an online venture — has accounting and bookkeeping responsibilities, including selecting the accounting method that works best for them. …
Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

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Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit? Tax lingo, even without getting into the weeds of the Internal Revenue Code, tax regulations, IRS rulings, etc., can be confusing. Two frequently used terms that taxpayers…

Brush Up On Your Bookkeeping Habits

Now's the time! Are you the type who makes New Year’s resolutions? Though the vast majority of those who pledge self-improvement focus on losing weight or exercising more, deciding to brush up on your bookkeeping habits may actually be smarter…