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5 Critical Issues with Keeping Your Books on Spreadsheets

Accurate financial records are a key component in running a successful business. It is imperative for business owners and managers to ensure that transactions are properly recorded, and that data can be retrieved for audit and analysis at a moment's notice.

Topics: Accounting Accounting procedures Business Advice Bookkeeping

How Do You Know Your Invoices Are Getting Paid the Right Way?

Keeping track of your business's financial data is a critical element of the accounting strategy. Tracking the financial data provides you with insights on your revenue stream as well as future cash flow. An organization that doesn't track its financial data is at risk of lagging on payment deadlines. This could lead to damaged relationships with vendors and creditors.

Topics: Accounting Accounting Methodology Accounting procedures Collection practices

10 Ways To Improve Your Cash Flow Position

Running a business means you are in charge of every aspect of the business. Your responsibility to your business financial health is what keeps you afloat to service your clients needs. In order to achieve a healthy financial perspective, it is important to know where your cash lies within your business.

Topics: Accounting Cash Flow Management Accounting procedures

Why Record Keeping Is So Important

 

A company’s financial statements tell the story of a business. The income statement will provide you a story of the present-day state of affairs.

While the balance sheet provides you with a historical picture of the assets, liabilities, and equity over the lifespan of the business.  Record keeping plays a significant role in providing the supporting details to paint the full picture of the story.

Topics: Accounting procedures Advice Bookkeeping

Month end close process checklist

 

Are You Ready for Year End?

The end of the year is upon us and for small business owners it is an important time of the year.  Review this list to see if you are ready.

Topics: Accounting Accounting procedures Best practices Bookkeeping