Cash Reserves – how much is enough? This is a question we address with our clients quite frequently. Of course, it is wonderful to go beyond those day-to-day cash crisis needs, but the next level of success often means that while your cash position may be stronger, your cash need may also grow. So if...
According to a recent survey by Clutch, 74% of businesses with ten employees or fewer did not have any documented budget for 2022. What??? A solid budget is a key factor in ensuring your success. A budget will focus your attention not only on the specific goals you want to set (like Revenue Goals) but...
I know, I know … you are sick of taxes! And you just paid them (or at least an estimate of what you will owe). But here’s the thing – smart businesses save for taxes throughout the year. So month by month or week by week, they are putting money away for the tax payments...
Sexual Harassment is a big deal, and now providing anti-harassment training is a legal requirement for all businesses in California with five or more employees. The new law, effective now for 2019, states that all Supervisors must receive at least two hours of anti-harassment training. All other employees must receive at least one hour of...
When Melinda used to teach new business owners about bookkeeping, she always shared that bookkeeping truly has three keys to success – Organization, Consistency, and Discipline (and if the acronym OCD fits any bookkeeper, you know, now you know why). Let’s focus a moment on Consistency – and why it’s so important. To run clean,...
Now is the perfect time of year to remember why it is important to get documentation from your vendors as part of a complete set-up before you remit even one payment to them. Everyone is currently under pressure to issue 1099s, which must be sent out no later than January 31. The biggest question is,...
If you have inventory in your business, you will need to conduct a physical inventory count on or about December 31. So plan your count today! First, you will need to get an accurate count of all items on hand and how many you have of each. You will also need to assign a value...
Most business owners are so busy getting things done that they sometimes miss keeping track of what they have. For example, if you are buying computers, equipment, or furniture, you must report all these business property items on a 571-L form wherever you are locally registered to do business. They will then determine how much...
Now is the perfect time to start thinking about your budget for 2023. ZümiFi highly recommends taking advantage of the budgeting feature offered in QuickBooks Online Plus. Whether you are creating a budget for the first time or if you need to adjust your budget, we have a few tips that can help you get...
As of January 1, 2018, the new tax laws went into effect that will change what types of expenses will be tax deductible. Meals and Entertainment deductions are changes that will impact our clients the most. Here is a quick summary of some of the changes and how they affect your bookkeeping: Entertainment: Under the...