Bookkeeping Tips

Who accounts for all the transactions of a company?
You may have guessed a bookkeeper and you would be right.
A bookkeeper can provide financial reports, manage customer receipts, provide tax information to the government among a multitude of other tasks.

Let’s think about a hotel for example. It takes several key components and key players to make a hotel run smoothly. Booking agents are needed to manage the reservations. Maintenance crews help to repair any damage done to a hotel while janitorial staff helps the hotel to look clean and pristine. If a restaurant sits inside of a hotel, there is also staff to help cook the food and serve guests. These components are all front facing but what about behind the scenes? Who accounts for all the transactions of a company?

You may have guessed a bookkeeper and you would be right.

A bookkeeper can provide financial reports, manage customer receipts, provide tax information to the government among a multitude of other tasks. Keep reading for more detail of what bookkeeping entails and planning strategies for your small business.

Continue reading “Bookkeeping Tips”

The Costly Effects of Payroll Errors

At any company, getting paid is important. Of course, distributing paychecks is the largest expense for any company but not distributing checks properly is even costlier.

At any company, getting paid is important. Of course, the purpose of performing a job is also important as well as how many fun, company trips are planned: people still want to be paid and paid correctly. In the long run, it can cost payroll significantly if they are not detail-oriented. Of course, distributing paychecks is the largest expense for any company but not distributing checks properly is even costlier. Here are a few reasons why.

Continue reading “The Costly Effects of Payroll Errors”

Tax Planning Strategies for Small Business Owners

Tax Planning Strategies
Small business owners with effective tax planning strategies will be better able to navigate shifting tax laws.

As a small business owner, you have a lot to remember. And while you’re keeping all those balls in the air, sometimes the thing that gets pushed down on your to-do list is your tax planning strategy, so that at the end of the year you’re scrambling to make some last minute tax decisions. Instead of all that scrambling, this year you should plan your budget to include some of these tax strategies made possible by the Tax Cuts and Jobs Act. Continue reading “Tax Planning Strategies for Small Business Owners”

Budgeting Tips for a Small Business

Budgeting Tips for Small Business
Good budgeting is especially important for small business owners to be successful.

As a small business owner, you know that your budget is absolutely crucial to keeping your finances in check and the growth of your business. While you can’t plan for everything, you can have a smart, solid budget that will account for bumps in the road and financial risks while helping you strive for success. Your budget doesn’t just account for product, employee payroll, or standard business expenses. Budgets also help you deal with losses, downturns, and the unpredictable. Here are just a few small business budgeting tips. Continue reading “Budgeting Tips for a Small Business”