When Should a Small Business Hire a Bookkeeping Service?
Knowing when to hire a bookkeeping service is less about reaching a particular sales number and more about recognizing when your current bookkeeping process no longer gives you the time, accuracy, or financial visibility your business needs. At first, many small-business owners handle their own books because the transaction volume is manageable. However, as a […]
In-House Bookkeeping vs. Outsourced Bookkeeping: What to Consider
Bookkeeping is an essential part of running a small business, but outsourced vs in house bookkeeping is not a one-size-fits-all decision. Some businesses prefer to keep bookkeeping responsibilities inside the company. Others use an outside bookkeeper or accounting service. In some cases, a business may use a combination of internal staff and outside support. The […]
Monthly Bookkeeping Checklist for Small Business Owners
Use this monthly bookkeeping checklist to review transactions, reconcile accounts, organize records, review reports, and prepare for the month ahead.
Business Expenses: What to Track and Why Accurate Records Matter
Tracking business expenses is an important part of understanding how your small business uses its money. In contrast, revenue tells you what your business brings in, while expenses show what it costs to operate. When business expenses are recorded consistently, you can review spending, organize financial information, prepare for tax reporting, and make better-informed business […]
Business Budgeting: How to Build a Practical Monthly Budget
Learn how to build a practical small business monthly budget using expected income, fixed costs, variable costs, reserves, and budget-versus-actual reviews.
How to Read a Profit and Loss Statement
How to Read a Profit and Loss Statement Learning how to read a profit and loss statement can help small business owners understand how their business is performing. Sales alone do not tell you whether your business is earning a profit. You also need to understand your expenses and how much money remains after those […]