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,...
Sometimes, our clients want their staff to receive a specific amount as a “bonus.” To accomplish that, we need to determine the correct gross bonus amount to yield their desired net paycheck. That’s exactly what happened recently for one of our clients, who want to reward a recently hired employee for going above and beyond...
It is important to stay on top of reconciling your bank, credit card, and loan accounts every month. If you keep your accounts up to date and reconciled, you will find the process quick and efficient. Your monthly reconciliations will show you where your finances stand and alert you to inaccurate or fraudulent activities. Correcting...
One of our beloved clients has operations in the United States, as well as in Canada. As such, their bookkeeping has always been complicated, given that the exchange rates vary day today. Some of these exchange rate changes can make a significant difference. So how to produce accurate books? Well, ZümiFi has an answer for...