A profit and loss forecast is one of the key documents that any business should produce. It allows you to set financial targets for the business and to arrange the business in a way that brings in the most profit. However, the process of making a profit and loss forecast is not an easy one. …
Running a small business is not easy especially if you are considering expanding your business. That is why you have to keep an eye on your expenses. In order to do this you need to build a spreadsheet that can help you track your expenses. The post will be about how to prepare such a…
Small business accounting is a critical process that can make or break a business. However, there are many things that can go wrong with this process. One of the biggest issues is that small businesses often do not have the budget to hire an accountant, so they have to do their own bookkeeping. This can…
Staffing services and consulting firms report that demand for accounting staff is rising. This may be true, but a major barrier to filling these positions is accounting’s waning popularity. You’ve heard the statistics: fewer students are choosing accounting as a major, and fewer CPAs are licensed each year. Recent declines in tax departments’ staff and…
Business in today’s world is fast-paced and the need to keep track of expenses and revenues has increased tenfold. That is why we have accounting software that can give us a lot of insight into the financial workings of our business. But one system that is widely ignored is the general ledger. Here is why…
If you are considering bankruptcy, you’re probably wondering what kind of bankruptcy will work most in your favor. What is Chapter 11 bankruptcy? Is Chapter 11 bankruptcy the best option for you? How does Chapter 11 bankruptcy work? We will show you how Chapter 11 bankruptcy works and how it can help you. Understanding Chapter…
You’re probably wondering why you need to know about Chapter 7 bankruptcy when your business is doing great or growing. This blog will explain why you need to know about bankruptcy, how it works and the benefits it can have to your business. Understanding Chapter 7 Bankruptcy For individuals, Chapter 7 bankruptcy is the most…
The record keeping requirements of businesses are covered in a variety of different areas. The trick is to understand both how business records must be kept, and the penalties for non-compliance. Let’s look at what you need to do to keep accurate business records. What are good business records? Business records are necessary for any…
It is true that hard work is not enough for the success of business. It is equally essential to make sure that you have some extra routine to improve your business. A routine is the way to success and these habits are those that make sure that you have a great routine for your business….
In this day and age, payroll tax is a hot topic. It is important that you only use a payroll service that you can trust to look after your payroll taxes. This blog looks at the different aspects of payroll tax and how payroll services can help your business. What is payroll tax? In the…
