Did you know that there are five common key performance indicators? These include revenue growth, revenue per client, profit margin, client retention rate, and customer satisfaction. You will notice that multiple of these include looking at your business' financials. Keep reading, and we will guide you through why financial metrics are essential and how to measure them. [...]
Bookkeeping is not a task business owners should take on themselves. Many business owners think that DIY bookkeeping will save them time and money, but don't realize that the opposite is true. If you don't have the necessary skills and experience, your process may end up affecting your ability to run your business the way [...]
Managing your company's finances while inspiring confidence in investors to give you a chance, can be a balancing act. You want to keep your company and staff happy while showing outside shareholders that your business is a good bet. This is where financial reporting becomes important. Financial reports are collections of key financial documents that indicate [...]
When you're trying to make it in the entrepreneur world, developing your skills in business management is vital for success. You might be asking yourself, what is business management? If you are, you'll be pleased to know we have you covered. This entrepreneur's guide will help you understand the skills and business management hoops you'll [...]
Are taxes getting away from your small or medium-sized business? In 2018, the IRS found that Americans owe $131 billion in penalties, interest, and back taxes. This is because people underreport their taxes and end up owing more later. They may feel as if they don't have the time to keep up with their income and expenses [...]
Managing businesses’ books can seem impossible; some arduous steps and rules seem counterintuitive and seem to slow down the business flow. However, it does not need to be that way. To run a successful business, you need to know these fundamental bookkeeping processes. 1. Organize Source Documents Source documents are the beginning of what entails [...]
60% of small-business owners feel that they are not very knowledgeable about booking, keeping, and finance. But if you don’t understand basic bookkeeping techniques, it can be difficult to keep track of your finances and measure your success! To help, we created this guide to the 5 types of bookkeeping all business owners absolutely need [...]
There's never been a more exciting time to be in business. It's never been easier to start a business, for one. Many small- and medium-sized independent business owners have access to tools so powerful that would have been a dream even for a Fortune 500 CEO 20 years ago. That's one reason that over 627,000 [...]
Accounting. Just that word alone can send chills down the spine of the most seasoned business person. And we haven't even begun to talk about the intricacies of the financial world. Of course, outsourced bookkeepers have a firm grasp of such lingo; after all, it's part of their specialty. That being said, you're not the [...]
Did you know: more than 1/3 of small businesses in the US choose to outsource their bookkeeping? The benefits of doing this are manifest. Businesses can save money on an expensive in-house accounting department, entrust their financial operations to a team that has expertise and experience, and easily scale their accounting services. But how can [...]
