Category: Best Practices

Know Your Numbers!

There are two methods used to track financial reports – cash basis and accrual basis. It is important to know what basis you are looking at when you are reviewing your financial reports. So let’s take a moment to dive a little deeper into each method, the differences between the methods, and why you would...

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Save Those Receipts

The IRS requires you to keep receipts for basically everything you spend on your business. Collecting, and managing those receipts is a critical workflow to determine for your business. Done well, this just becomes a way everyone works. Not done well, this becomes a time-consuming reconstruction effort well after the fact, and the potential to...

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Pay Fast & Easy!

Everyone wants to issue payments fast and easy, including our clients! We regularly field inquiries about how to remit payment to us electronically and avoid the hassle of printing out checks and sending them via “snail mail”. So what are the best options to remit payment electronically? Well, the truth is that will depend on...

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Reconcile, Reconcile!

We love technology. We love automation! Automation is becoming a bigger and bigger component of bookkeeping, and software like QuickBooks Online. We appreciate that AI can be a huge time saver, especially for very routine processes and codings. But you know what? Automation isn’t perfect. And automation currently makes mistakes. So how do we leverage...

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Value Your Business!

Do you know what your business is worth? I mean, really worth? When I say worth, I mean if you were trying to sell your business do you know what someone is likely to pay you for your business? The reality, of course, it that it is always hard to know what a business could...

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Cash Reserves – Set Your Goal!

Cash Reserves – how much is enough? This is a question we address with our clients quite frequently actually. It is wonderful to 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 need for cash may also be growing....

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Start Saving for Taxes Now!

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 all throughout the year. Month by month, or week by week they are putting money away for the tax payments...

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Train your Folks!

Sexual Harassment is a big deal, and now providing anti-harassment training is a legal requirement for all businesses in California that have 5 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...

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Be Consistent in Your Coding!

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 for any bookkeepers you know, now you know why). Let’s focus for a moment on Consistency – and why it’s so important. In...

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Review your 2018 Financials!

The time has come to wrap up 2018 and hand off your financials to your tax preparer. Now that you (and/or your bookkeeper) have poured over 2018 to ensure that everything is complete and accurate, it’s time to take a step back and really look at how your business performed last year. Did you grow...

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