Most small business owners work long hours and have a lot to juggle. They are often switching between different tasks in order to keep things running smoothly. They have to manage advertising, product purchases, customer accounts, employees and do the bookkeeping. These tasks differ in complexity and number depending on the size and type of … Continue reading Outsource or Do It Yourself?
Importing Bank Statements Into QuickBooks
I was looking through some job offerings on Freelancer.com and noticed that some people were offering to pay to for someone to enter 12 to 20 months worth of bank statements into QuickBooks® Online Financial Software. That in itself is not so bad, but the bank statements were said to have anywhere from 150 to … Continue reading Importing Bank Statements Into QuickBooks
Costs of Goods Sold vs. Expenses
Understanding the difference between costs of goods sold and expenses can be a bit difficult at times. To better understand what you are dealing with, cost of goods sold is anything that is directly related to the cost of manufacturing a product or purchasing a wholesale product to resell. Let’s imagine that you are a … Continue reading Costs of Goods Sold vs. Expenses
Write Down Your Plan and Your Why
Do you have a plan for your business? Have you put down on paper what you want to accomplish with your business? Whether it is a bookkeeping business, a tax business or a coffee stand, a plan is the first thing you should do before opening your doors. By writing it down you will be … Continue reading Write Down Your Plan and Your Why
Financial Statements for a Business Loan
Bookkeeping should be up to date at all times. It’s a good idea to get into the habit of doing month end closings so you don’t get too far behind. One key reason for this is that the business may need to get a loan. The bank will be looking for a current income statement, … Continue reading Financial Statements for a Business Loan