It has been said that the only two things that are certain in life are death and taxes. We’d like to add a third: inflation. You can be certain that costs will go up year after year. Housing is the easiest trend to follow (a $300,000 house today only cost $180,000 a...
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14 Creative Ways You Can Reduce Small Business Overhead Expenses
Steve Martin once said, “I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline-powered turtleneck sweater. And, of course, I bought some dumb stuff, too.” A small...
Keep Up With Receipts Like A Pro With These 3 Simple Tips
Every transaction in your business has to be accounted for. In the nonstop world of a small business owner, it can be a real challenge to keep up with receipts. You either forget to enter the expense in your accounting software, or you just guess at the amount. Either...
Why You Need to Know the Difference Between Profit & Cash Flow
Business owners seem to be in a constant search for one number to tell them if their company is doing well or not. We get it. You’re busy and would much rather spend your energy doing whatever it is you do instead of staring at numbers on a spreadsheet. Having one...
How to Win in the New Year With Solid Budgeting Habits
Money sure can seem like it has a mind of its own sometimes! One minute it’s there, the next it’s gone. If you’re not careful, what you have will leave faster than you can bring more in. The only way to maintain control over your money–in both your personal...
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How Often Do Small Businesses Get Audited? (And What You Need To Do To Prepare)
How often do small businesses get audited? And should you be concerned that your company might be next? These are questions that small business owners face at some point in their careers, and knowing the answers might help you avoid a lot of stress and headaches...
Is A Venmo Nonprofit Account A Good Idea For Your Charity?
Venmo nonprofit accounts are quickly becoming a big part of the charitable giving scene. But is it something your organization should be using or not? What are the advantages? Are there any downsides? We think you deserve the best information when it comes to making...
How to Prep For A Business Audit (And Streamline Your Company)
The mere mention of the word “audit” is enough to cause some business owners to break into a cold sweat. They’ve either been through one before and it wasn’t a pleasant experience or they know that their records are in such a mess that they aren’t prepared for one.In...
Understanding The Basics of Inventory Accounting (A Guide For Small Business)
The goal of any business is to make a profit…usually, as much as possible. To do that, you have to generate revenue. And to do that, you have to move some inventory. This post will help you understand how your inventory accounting impacts your business so you can...
Unraveling Nonprofit Financial Statements To Help Your Organization Do Even More Good
When you run a nonprofit, you have to make every dollar count. Nonprofit financial statements help you stay on top of your income and expenses in a way that shows how you are responsibly using donors’ money. In this post, we’ll unpack what makes nonprofit financial...