Small business accounting hurdles are scattered everywhere and failure to clear virtually any of them could cripple your business. Not being able to handle taxes and acquire banking loans could spell disaster for your business. Here’s why: Taxes Properly handling … Continue reading
Accounting Accuracy for the Survival of Your Business
Posted in Business Bookkeeping / Accounting, Outsourced Bookkeeping Services, Small Business, Taxes
Tagged bank loans
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Nonprofit Accounting: Volunteers vs. Paid Professionals
It has been said, and proven, that the number one reason nonprofits fail is due to poor financial management. With this being known, you really don’t want to take a chance with accounting for your nonprofit. Expecting a volunteer in … Continue reading
Posted in Non-Profit Accounting, Not-For-Profit Organizations
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Selecting an Audit Team for Your Nonprofit
An audit provides the highest level of assurance that a nonprofit organization’s financial statements are fairly presented and free of misstatements. Unfortunately, not every nonprofit can afford a full-scale audit. For small nonprofits that cannot, forming an internal audit team … Continue reading
Posted in Non-Profit Accounting, Not-For-Profit Organizations
Tagged audit, cpa, financial statements, internal audit
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High Income Tax Bill? Don’t Gripe, Count Your Profits!
We often hear grumblings this time of year about how high their income tax bill is. Sometimes, it seems to us that people would rather make less money than to have to pay taxes. We believe this is the wrong … Continue reading
Posted in Business Bookkeeping / Accounting, Business Finances, Cash Management, Income Tax, Small Business, Taxes
Tagged bank debt, business challenges, cash flow problems, consolidate debt, credit card debt, working capital
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Small Businesses Need to Keep Their Financial Systems Up-to-Date
Customers are flocking to your small business and you’ve been able to pay all your bills. Things are going great, right? From an outward appearance, it may look like you are on Easy Street, but is that what your financials … Continue reading
Seeking Nonprofit Accountant Looking For Better Balance!
We are currently hiring for a nonprofit accountant who is seeking a better work-life balance. Do you work longer hours than you’d like? Do you want more time with to honor personal commitments, such as family and friends? Do you … Continue reading
Nonprofits: To Avoid Common Accounting Mistakes, Perform a First-Quarter Financial Check-up
The first quarter of the year will be over soon, so it’s a good time to evaluate your processes to make sure your organization isn’t making any common accounting mistakes that seem to befall nonprofits. It’s still early enough in … Continue reading
Posted in Non-Profit Accounting, Not-For-Profit Organizations
Tagged accounting provedures, financial records
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How Small Business Should Handle Tax Notices – First, Don’t Panic!
The last thing you want to see in your mailbox is a thick envelope from the IRS. Refunds come in thin envelopes, not much larger than the size of a check. Tax notices arrive in thick envelopes. One of our … Continue reading
Posted in Business Bookkeeping / Accounting, IRS, Outsourced Bookkeeping Services, Taxes
Tagged fines, interest due, IRS audit, penalties
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Membership Organizations Face Special Accounting Challenges
Membership organizations like fraternities and sororities face special challenges when it comes to accounting. Many times these organizations use elected treasurers that only serve terms for the school year, which could only be five months or so. With the treasurer’s … Continue reading
Posted in Outsourced Bookkeeping Services
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Handling Nonprofit Endowments
Soliciting and accepting endowment gifts are a common practice by nonprofit organizations. Stability is the main reason to have an endowment. Small and new nonprofits often only think about the current fiscal year or the next payroll. It is important … Continue reading