A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet. Start by listing […]
Catching Up with Your Contractors Before 1099 Time
In a little over a month, it will be 2015 and time for year-end accounting chores. One of those chores is getting your 1099s out, and now is a good time to tie up loose ends so the year-end process can go smoother. Here are some tips to do just that: Go through your vendor […]
What Is Real-Time Accounting (and Why Should You Care)?
Real-time accounting is when your books are caught up to the present and you know exactly where you stand with your account balances, revenue, and profit. It’s truly doing your accounting in real time. The opposite of real-time accounting is getting your books done once a year (or worse, being years behind). When you wait […]
How to Read Your Balance Sheet
The Balance Sheet is an important report in your business’s financial statements. Most small business owners are unsure of what all of the numbers mean on this report, so let’s see if we can shed some light on what they mean. A Summary of Balances One big characteristic of a balance sheet is that it […]
Oops: Do You Owe Sales Tax and Not Realize You Do?
One of the side effects of our last economic slowdown was in state government budgets; states searched hard for new income, and many of them found a great source by cracking down on sales tax collections. Their new hot buzzword: nexus. Nexus means a connection that a business has with a state, and it has […]