Accounting software is the backbone of any profitable business. It’s easy to get lost in the day-to-day running of your company and forget about your finances. But if you aren’t keeping track of expenses, you may miss out on ways to increase profits! After all, a business owner doesn’t just want a good balance sheet;…
Read more
Why do Integrative Health Professionals need a Chart of Accounts? As an integrative health professional, it is imperative that you know how the health of your business is doing at all times. The categories on the chart of accounts feed directly into the financial statements, such as the profit and loss, as well as the…
Read more
We want to ensure that you are managing your finances like a pro, so this simple guide will help walk you through the ‘Making Deposits in QuickBooks’ process. Receiving Payments in QuickBooks Online When you receive payments in QuickBooks, please make sure that the “Deposit To” account is “Undeposited Funds”. This will allow you to…
Read more
QuickBooks Online integrates with Amazon! Many small businesses now use Amazon for a large portion of their business purchases because of the ease of shopping. The downside to using Amazon has been the difficulty in knowing what the individual charges were for and how to allocate the expenses. When we would close out the books…
Read more
Most small business owners would agree that their Profit and Loss or P&L report is among the easiest financial documents to understand. Two parts of your P&L report The top half of the P&L report lists the income the business has received for the period covered. After subtracting the cost of producing your goods or services,…
Read more
Yesterday you had a great idea, today you have a new business – now what? Good news for new business owners: according to the US Small Business Administration, nearly 80% of small businesses survive their first year. However, that number begins to drop as time rolls on. Only half of new businesses pass the five-year mark,…
Read more
Running your own business can give you flexibility and control, but it can also be challenging. If you are like a lot of small business owners, accounting is one your least favorite business tasks! Did you know that good bookkeeping is crucial to business success? You can both protect your business and reduce your stress by avoiding these ‘4 Costly…
Read more
What is a Chart of Accounts? The chart of accounts a system for categorizing all of a company’s financial accounts. A chart of accounts is usually divided into five categories: assets, liabilities, equity, income, and expenses. Why do photographers need a Chart of Accounts? The categories on the chart of accounts feed directly into the financial…
Read more
A Business dashboard is a valuable business intelligence tool, offering an “at-a-glance” view of a company’s performance. Some business owners use dashboards to track KPIs (key performance indicators) for just one aspect of their business, such as sales growth or financial data. Others want an overview of data from various sources, such as their accounting…
Read more
On average, small business owners spend 10 hours each week bookkeeping activities, such as recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in…
Read more
