Want Your Business to Grow? Start with Your Numbers! When people start a business, they’re usually excited about a big idea. They want to use their skills and talents to make money, feel successful, and have more freedom than a regular job. And if you ask a business owner if starting a business improved their life, many will say yes—but not always for the reasons you’d think. Many people imagine that […]
Why Accurate Financials Are so Important Have you ever had one of those “Aha!” moments—when you suddenly understand something that had previously seemed mysterious or impossible? I’ve had more than enough of those, maybe more than I’d like to admit. But each “aha” means growth, right? One of my most significant life moments of clarity (besides my faith) was finally understanding how crucial accurate accounting is for running a successful business. Let me share my story, and hopefully, you’ll see why having precise, trustworthy financials isn’t just helpful—it’s essential. In my early adult years, I lived in a Colorado […]
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 […]