4 Tips for a Happy Accountant

Maintaining good working relationships with those you do business with is very important, and your accountant is no exception. A little extra effort and consideration on your part can keep your accountant happy, allow them to do the best job possible for you and your business to reap the rewards. Be Consistent with your Bookkeeping Unfortunately, it is all too common for small business owners to put off doing the books for weeks or even months at a time. Your accountant [...]

Read more...
do you understand accounting

SmalI Business Deadly Sin #9: Trying to Use Programs that Require You to Understand Accounting

Do you understand debits and credits? Journal entries? The difference between assets, liabilities, revenue, expenses and equity? No? You’re not alone! Most small business owners have not been trained in double entry accounting, yet the vast majority of accounting programs on the market require this high level of understanding.   The introduction of computers and software has brought small business owners the ability to keep double entry bookkeeping records, but not the skills to go along with it. This is how many [...]

Read more...
do a bank reconciliation

Small Business Bookkeeping Deadly Sin #1: Not Reconciling Your Records to Your Bank Statement

The first ‘Deadly Sin’ small business owners are notorious for committing, is not reconciling their records to their bank statement. Performing a bank reconciliation is the most important indicator as to the quality of your records because it indicates that everything that has gone through your bank has been included in your accounts. It is one of the simplest ways to make sure that your financial data is up to date, and it’s one of the first things that [...]

Read more...
9 deadly small business accounting sins

The 9 Deadly Small Business Accounting Sins…& How You Can Avoid Them

Businesses are successful for one fundamental reason. It rarely, if ever, is about luck or talent or how much money they started with. And it certainly is not dependent on knowing some ‘secret’ others don’t. Sure, you must have a good product or service and a bit of common sense. But after spending over 30 years all up as a qualified accountant, it is clear to me that business success comes to those who have their ‘house’ in order. [...]

Read more...