Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for tax purposes and to manage their finances. More businesses are moving away from paper to digital receipts. Here are more reasons why your business should consider eliminating paper receipts all together. 1. Digital Read more about Considering Digital Receipts for Your Business[…]
Payroll is a critical function in any business. It involves calculating and disbursing employee salaries and wages, processing taxes, and complying with legal regulations. Payroll processing can be complex and time-consuming, and mistakes can have serious consequences. Outsourcing payroll processing can help businesses save time, money, and resources while ensuring compliance and accuracy. Here are Read more about Benefits of Outsourcing the Payroll Processing Function[…]
Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and profits are shrinking. Here are seven tips on how to adjust for inflation. It’s undoubtedly challenging, but you can adjust for inflation by following these tips. 1. Study Read more about 7 Tips on How to Adjust for Inflation[…]
A fractional CFO (Chief Financial Officer) is a finance professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level CFO to your business without the cost of hiring a full-time, in-house employee. Fractional CFOs can service several clients at once. Because their financial management skills are Read more about What is a fractional CFO?[…]
Companies tend to progress more consistently if the owner sets business financial goals and makes a plan to achieve them. The new year is a natural time to decide what you want to achieve and how. With that in mind, read on to learn the steps for setting financial goals for your business for 2023. Read more about Setting business financial goals for 2023[…]
TD Bank surveyed small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. However, Read more about Bookkeeping & Accounting Tips for Small Business: 5 Things to Avoid[…]
If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s a frustrating chore that takes up a lot of time and is easy to put off until tomorrow. However, avoiding your bookkeeping is dangerous. Not knowing your company’s financial Read more about 3 Reasons to Prioritize Bookkeeping[…]
Every small business can benefit from the dedicated financial management expertise that comes with having a CFO. However, very few small businesses have the means to hire someone full time for this role, particularly in the lean early years. Often, it’s the first few years when a company is starting up that establishing good habits Read more about How “Virtual CFO” Services Can Help You Grow Your Business[…]
Business owners, tax season is right around the corner and although you may be dreading it, there are things you can do to feel better prepared. Here is your small business tax preparation checklist for 2022. Don’t stress, prepare! Your books Your structure Your due date Your income Your deductions Your home office expenses Your Read more about Your Small Business Tax Preparation Checklist for 2022[…]
The 5 signs you need an outsourced CFO. When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. As Read more about 5 Signs You Need an Outsourced CFO[…]