When you hear the word “budget,” what do you think about? Most people would say something similar to “Ugghh!” If you would rather do just about anything besides create a budget, you’re not alone. The word “budget” brings up connotations of endless numbers, constraints, the opposite of freedom and creativity, and hard work, none of which are very desirable. Yet, the benefits of a budget are huge. Budgets can help you with … [Read more...]
What Is Cloud Accounting?
One of the most exciting changes in the accounting industry is cloud accounting. The concept is easy to grasp: cloud accounting simply puts your accounting system in a private space online so that it is fully accessible to you via a browser or a secure remote connection. Two Ways to Be in the Clouds There are primarily two ways to have your accounting system in the cloud. First, it can be “hosted.” This means that the … [Read more...]
Five Ways to Protect your Cash
As entrepreneurs, we work hard for our money, and the last thing we need is to have it disappear due to fraud, hackers, or identity theft. Some people have called 2013 the year of the hacker, which is worrisome. But you’re far more likely to experience risks with disgruntled or financially desperate employees and contractors. Mistakes happen, too, and when they do it can be costly to get them corrected. Here are five ways … [Read more...]
Five Places to Find More Profits
It’s always a good idea to be on the lookout for ways to increase your profits, and luckily, there are many ways to do that. One way is to focus on cost-cutting, and here are five places that are good to periodically review for cost-cutting possibilities. Telephone Re-negotiating with the phone company every one to two years is a really good idea. Many telecommunications companies will often bargain with you or offer you a … [Read more...]
Seven Year-End Adjustments to Make to Your Books
Year-end is coming up for many businesses, and it’d be nice to know what your final revenue and profit numbers will be for the year. Before we can calculate these key numbers, there are year-end adjustments that may need to be made to your books that will change the numbers. Here are seven common ones. Bonuses It’s great to give bonuses to employees at year-end, but it’s not so great to forget about the tax part of it. … [Read more...]
