Running a small business can be both exciting and challenging. At the core of every business, the goal is simple: to generate profit. But as many business owners know, consistently growing that profit is often easier said than done. Let’s dive into your business and discuss strategies that can put more cash back in your […]
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As a small business owner, you know (if you don’t; listen up!) that bookkeeping is the backbone of financial success and business growth. Accurate data and regular review ensures your business is on track to meet its goals. Healthy financials are not just to wave around, they confirm that you have adequate cash flow to
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Running a small business comes with its own set of challenges. One of those challenges is managing expenses. Managing expenses is crucial to ensuring long-term success in your business. While some costs are evident, others might slip under the radar. In this post, I’ll uncover five common, but often overlooked expenses that small businesses should
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Are you unsure of what type of backend accounting software you need? Or what you need to be able to do with said accounting software? In this guide I am going to share with you my personal favorites and price/capacity for any small business at any stage of growth! **This post contains affiliate links.** Excel
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Starting your journey of understanding the accounting world can feel like stepping into a complex maze of numbers, ledgers, and financial reports. Fear not! The accounting cycle is the roadmap that simplifies the journey, providing structure and clarity to the back end of your business. In this beginner’s guide, we’ll unravel the accounting cycle, step
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Cash VS Accrual for Your Small Business **This post contains affiliate links. All products recommended are tools/software I use daily! When it comes to managing your small business’s financial transactions, selecting the right accounting method is crucial. Two methods of recording financial transactions are cash basis and accrual basis. In this blog post, we’ll explore
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Deep Dive to Understanding Financial Statements for Your Small Business Financial statements are the backbone of assessing a company’s financial health. These documents provide a clear snapshot of a business’s performance, position, and cash flows. In this post, we’ll dive into the different types of financial statements, discuss their importance, and examine how they work
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In the crazy world of entrepreneurship, small business owners often find themselves juggling multiple roles to keep their ventures afloat. Amidst the hustle, it’s easy to overlook the foundational aspect that can significantly impact a business’s success: bookkeeping. In this blog post, we’ll jump into the importance of bookkeeping for small businesses and uncover why
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Reconciling your bank account is an essential part of bookkeeping. It involves comparing the balances on your bank statement with the balances in your bookkeeping records to ensure that they match. This process helps you identify any errors, discrepancies, or fraudulent activities, and ensures that your financial records are accurate. In this post, we will
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Bookkeeping errors can have serious consequences for a business, such as inaccurate financial statements, tax problems, and even legal issues. Here are five common bookkeeping errors and how to avoid them: Data Errors Data entry errors can occur when numbers are typed incorrectly, transposed, or omitted altogether. These errors can lead to inaccurate financial statements
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