Statement of Owner’s Equity, Formula and Examples
Every financial decision you make leaves a mark on your business. Profits, losses, additional investments, and personal withdrawals all change your owner’s equity over time. A statement of owner’s equity brings all of that information together in one report. It shows how your owner’s equity changed during a specific accounting period, making it easier […]
Small Business Bookkeeping 101: Everything You Need to Know
Building your business is exciting and challenging, requiring you to wear multiple hats, including bookkeeper. However, it can be easy to put bookkeeping on the back burner, especially when you are dealing with all the other aspects necessary to keep your business running from day to day. With that in mind, let’s talk about why […]
Find and Hire a Bookkeeper for Your Business (Tips & FAQs)
With your business growing by leaps and bounds, bookkeeping is taking up a larger portion of your weekly routine. You are ready to pass on this task to an expert, one who can make sure everything is categorized appropriately while also making sure that your financials are accurate and up-to-date. Let’s dive into why you […]
Hiring a Bookkeeper for Your Small Business: Essential Steps and Benefits
Your business is growing, and new opportunities are around the corner, but you are struggling to determine whether you can move forward with them. Why? Most often, business owners are wearing multiple hats, and while an opportunity might bring greater sales and potential profits, the truth is they don’t have enough time in the […]
What Does a Bookkeeper Do? 11 Most Common Duties
Growing a business means understanding the financial health of your company, and then making decisions that support expansion. The problem for many small businesses is that taking care of the financials is time-consuming. Too many business owners wait until tax time or when they need updated financials for financing to address their bookkeeping. Having […]
How to Calculate Year Over Year Growth | Definition & Formula
To make the best decisions for your business, you need to understand where you are financially, what areas of your products and services have grown, and where changes might be necessary. Having the right financial information in place can assist you in analyzing your business and crafting budgets that support future growth and expansion. […]
Owner’s Draw vs Salary | How to Pay Yourself
While we all have different reasons that made us decide to start a business, the truth is that we also need to make a living. Working for free is not a likely option for most business owners, but figuring out how to get a paycheck from your business can be challenging, especially in the […]
GoDaddy Cuts Online Bookkeeping | Here’s 7 Alternatives for 2023
With GoDaddy announcing that it will no longer provide bookkeeping services as an option to its customers, many current clients are wondering what options are available, both for initially migrating their online data and for tracking their expenses and income moving forward. While it can be challenging to transition your bookkeeping to new accounting […]
Accrual Accounting vs Cash Accounting | A Simple Guide
Building a business involves understanding how cash flows in and out. Your financial statements are key to that process, but to make sure your financial statements can allow for accurate comparisons across time, you need to have a consistent form of accounting in place. With that in mind, let’s talk about what types of […]
Bookkeeper vs Accountant | What Makes Them Different?
Building a business takes hard work, but at the end of the day, you like to see your bottom line reflecting a profit as evidence of all your time and effort. Still, as your business grows, you may find there is less time for you to sit down and “do the books.” Outsourcing this […]