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Category Archives: Bookkeeping Tips
Watch Out for These Five Common Accounts Payable Errors
Paying bills is never fun, but paying bills you shouldn’t pay in the first place is even worse. There are many risks that can part a small business owner with their hard-earned cash, and here are five to watch out … Continue reading
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Get Organized with This 32-Item Year-End Close Checklist
A great way to make a wonderful start to 2020 is to wrap up 2019 feeling organized and on top of the world. Here’s a checklist of items that you can start on now to make your year-end close go … Continue reading
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Using Custom Fields in Your Accounting Software
Custom fields in your accounting software are data fields that you can define yourself. They are typically associated with customers, vendors, employees, and items, and they can help you store and categorize additional information about these stakeholders and your products … Continue reading
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Avoiding Accounts Payable Errors: What to Watch Out for
When you pay a bill in your business, are you 100 percent comfortable that the bill payment is correct and justified? Is there ever a chance that that bill is fake or fraudulent? What about duplicates? With so many fake … Continue reading
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Buying a Car or Truck for Your Business?
When you purchase a new vehicle, you get the fun of riding around in a new car with the new car smell! Our job has just begun – to get your new asset recorded properly on your books. We thought … Continue reading
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Is There Really a 4-Hour Workweek?
Tim Ferriss made the 4-hour workweek a popular concept in his 2007 book. But is there such a thing, and more importantly, can business owners like you and me cash in on it? As the last of the Baby Boomers … Continue reading
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Signs You Might Be Outgrowing Your Accounting System
If you’re struggling with your accounting system, it might be a sign that you’re ready for something new. Perhaps your company has grown so much that it’s outgrown its older accounting solution. Here are several indications to look for that … Continue reading
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What’s Your DSO?
If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO … Continue reading
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Five Ways to Streamline Data Entry
Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate … Continue reading
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Navigating Nanny Taxes and Household Payroll Compliance
Time is precious for most of us these days, and often, we need help at home so we can have more time to run our businesses or careers. That may mean hiring help for personal tasks such as caregiving for … Continue reading
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