News & Updates

Credit cards have become the default way for many companies to pay bills. For some transactions and purchases, this makes logical sense. Paying off the balance on time every month can work well for many of the service-based businesses we provide bookkeeping. Several have rewards, cash back, and travel rewards, so often, this is the way businesses process their bills. Software subscriptions, office supplies, and utilities usually get charged to company credit cards. However, if you have a service-based industry that regularly receives vendor bills, you want to approach bill pay differently. There are several examples of industries that this […]

  Many people dread the first quarter of the year and just the thought alone of prepping for a tax return produces hives and panic. The following are tried and true tips, practices, and advice from a Certified Professional Organizer and an Advanced Certified QuickBooks ProAdvisor. Put those two levels of expertise together and it gives you one powerful opinion from real-life experience. We hope you enjoy these ideas to consider to reduce your stress level and make your next tax year a breeze. Don’t hop from one CPA or tax preparer to another. It makes it difficult for you […]

How to get your business out of debt Even years after the COVID-19 pandemic, SBA and EIDL loans have sunk small businesses. Despite efforts to help enterprises during a brutal pandemic, many small companies still have large amounts owed and are on an uphill battle trying to pay it all off. Add that to current credit card balances or lines of credit, and the debt load can quickly increase. Unfortunately, high debt balances encroach on a business’s cash flow, stifling the opportunity to grow and thrive. All the loans also give little in deductible returns. Interest is deductible, but that’s […]

Organizing The Chart of Accounts What is the chart of accounts inside QuickBooks? Why should it be organized? Does the chart matter?  The simple answer is that it completely matters, and organization is the key to using it effectively. The chart of accounts is a chart of categories and titles where money is organized into inside financial software. Without accurate mapping and a good strategy to label income, spending, assets, and liabilities, a business owner or operator will lack the capability to read and understand the reports. An organized chart of accounts is the foundation for building and completing helpful, […]

Determine Your Income Streams If you’ve ever looked at a profit and loss statement, you know it’s not ideal to see one income line item with one big number for sales. Sales of what? What was sold? Did you only sell one item or service? How much was sold? When we analyze revenue, we want to see more than just a large lump total of sales or services. What should you be tracking under revenue? To determine the answer, look at your website. What do you claim to sell or offer your customers? What choices do your customers receive when […]