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Category Archives: Accounting
Get Finance-Savvy with 10 Accounting Terms
It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset: Essentially, assets are what you own. These include your bank accounts, business equipment, and even the amounts that customers owe … Continue reading
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Three Costly Accounting Mistakes to Avoid
Small business owners have a lot on their plates, and time simply does not allow you to become an expert in all the areas required for running a business. Here are a couple of common mistakes that we see all … Continue reading
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Your Daily Numbers
Some numbers need reviewing on a daily basis, and one example of this is cash. When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to … Continue reading
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Does Your Accounting Department Have Holes in It?
Does Your Accounting Department Have Holes in It? You’ve got someone to do your federal and state income tax returns, and you have a bookkeeper. So that’s all that a small business needs when it comes to having an accounting … Continue reading
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The Short and the Long of It
The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics … Continue reading
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Do You Have a Revenue Plan for 2015?
A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you … Continue reading
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Catching Up with Your Contractors Before 1099 Time
In a little over a month, it will be 2015 and time for year-end accounting chores. One of those chores is getting your 1099s out, and now is a good time to tie up loose ends so the year-end process … Continue reading
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What Is Real-Time Accounting (and Why Should You Care)?
Real-time accounting is when your books are caught up to the present and you know exactly where you stand with your account balances, revenue, and profit. It’s truly doing your accounting in real time. The opposite of real-time accounting is … Continue reading
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How to Read Your Balance Sheet
The Balance Sheet is an important report in your business’s financial statements. Most small business owners are unsure of what all of the numbers mean on this report, so let’s see if we can shed some light on what they … Continue reading
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Oops: Do You Owe Sales Tax and Not Realize You Do?
One of the side effects of our last economic slowdown was in state government budgets; states searched hard for new income, and many of them found a great source by cracking down on sales tax collections. Their new hot buzzword: … Continue reading
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