Category: Accounting

If you’re like most people, the mere mention of a cash flow statement probably sends you running for the hills. But trust us, it doesn’t have to be that way! A cash flow statement is one of the most important financial statements for a business, yet it is often one of the most misunderstood. In… Continue reading How to Read & Interpret a Cash Flow Statement

  As a business owner, one of the most important things you can do is set up a budget. A budget will help you track your expenses, understand your cash flow, and make informed decisions about where to allocate your resources. There’s no one-size-fits-all approach to setting up a budget, but there are some general… Continue reading 6 Tips to Set Up a Business Budget With Ease

  Profit First accounting — or Profit First bookkeeping — is a relatively new concept in the business world. Usually, business owners would think about how to spend money on the business before ever thinking about what they were going to take home. This sounds great for the business, but it may not actually be… Continue reading What Is Profit First Accounting? Definitions, How Tos, and Examples

  The Shopify marketplace is home to over 500,000 businesses, ranging from home decor to apparel brands. The ease of ecommerce, as well as fraud analysis and abandoned cart recovery, are game changers for many sellers in this place. And a particularly useful feature of Shopify is the report feature, specifically its — sales tax… Continue reading How to Handle Shopify Sales Tax for your Online Store

  What Is BPO Accounting?   The definition of Finance and Accounting Business Process Outsourcing (BPO accounting) is simple. You simply delegate all the activities associated with finance and accounting to a third-party service provider.   With BPO accounting options, you can tap into finance process improvement expertise that you would not normally have access… Continue reading What is BPO Accounting? Pros, Cons, & Costs

There are a lot of things involved in the payroll process. Manually inputting employee time-ins and time-outs, tax processes, printing paychecks, etc. takes a lot of resources when you think about it. If you want to be more efficient with your time, money, and effort, and simplify your payroll and other related processes, then maybe… Continue reading The 5 Best Online Payroll Software for Small Businesses

  Depreciation is the process of determining how much a tangible asset has decreased in value over time. Essentially, a tangible asset is a piece of physical property with economic value. There are multiple methods of calculating depreciation, including straight-line and accelerated methods. Knowing which method works best for your business is crucial.   Here… Continue reading How to Calculate and Understand Straight Line Depreciation

We highly recommend that you use accounting software online so that you can enjoy the greater convenience that it provides. This will help you ensure that you are always prepared with organized records ahead of tax season deadlines.   In this post, we’ll show you our 5 favorite accounting software tools for small businesses. They… Continue reading The 5 Best Accounting Software Tools for Small Businesses in 2022