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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

What does your month end close process consist of?

Why monthly bank reconciliation is imperative

In today’s business environment, knowing how much cash your business has readily available is critical to the success of your organization.  This starts with the bank reconciliation, which enables effective cash flow management.

Bank reconciliations compare a company’s records to their bank records, which authenticates cash activity.  The bank statement is the source document issued by your bank confirming cash movement for a specific time period.

Topics: Accounting Accounting Methodology Cash Flow Management Accounting procedures Business Advice Bookkeeping

Bookkeeping Tips: Why are Inventory Counts important?

So why are inventory accounts so important?  Making sure you have an accurate account, can make the efficiencies and customer service in a business the best. Although most counts are time consuming and drain you resources, they are very important.

Topics: Accounting procedures Bookkeeping