The Boston Consulting Group (BCG) has recently made available their Rapid Response Checklist to help navigate through this Coronavirus crisis. This checklist provides numerous timely suggestions for dealing effectively with this crisis. BCG lists out a number of suggestions and issues to consider. Reviewing this checklist might help to be sure you have not overlooked critical components needed to successfully traverse this rocky terrain which will likely continue for a while.Read More
Managing cash flow is one of the biggest challenges involved in running a small business. Thankfully, there are a few secrets you can use to keep the dollars flowing.Read More
Budgeting and forecasting are necessary evils to keep a company on track to meet their short-and long-term goals. Unfortunately, the process can be time-consuming and complicated. As CEO, you will want to make this yearly task move as quickly and painlessly as possible.
These six tips will act as a better way forward when completing your budget and forecast for the coming year.Read More
The cooler weather is hinting that the holidays are right around the corner, which means that the end of the year is upon us. Now is the right time to plan your year-end tax strategy in order to maximize your savings before December 31st!
Below are a variety of tax-saving strategies individuals and/or business owners should consider implementing:Read More
Your accountant is a critical part of your financial team. It is very important for you to have the right one on your team. So how do you know if it is time to get a new accountant?Read More
You most likely started your business because you are really good at something or knew how do something better. Maybe it was product design, marketing, manufacturing, etc. More often than not though, finance is not your strong suit. For many business owners, business finance is an area where they lack clarity and direction; it is even a source of stress and fear.
It Does Not Have to be That Way.Read More
Besides picking out the perfect addition or decoration for your rental property, you also need to think about whether the expense is considered a repair or maintenance type cost or capital improvement expenditure for tax purposes. This is very important because it significantly impacts your tax deductions if you are not in the trade or business of renting properties.Read More
At the 2014 Scaling New Heights conference in San Antonio, Brad Smith, CEO of Intuit, spoke at length about QuickBooks Online and the future of accounting data and processes. His vision, along with that of other industry leaders, is a future where the majority of businesses have cloud-based accounting technologies in place. With major accounting software systems such as QuickBooks, Xero and Freshbooks already marching to the cloud, business owners have a lot of considerations to make before moving their financial data to the cloud.
One questions that I often recieve from clients is what should I do to improve my chart of accounts? To answer that I have here 3 tips to improve your chart of accounts.