As a small business owner, you probably have lots of deductions for your business. But are you taking all the deductions? There are probably deductions you don't want to make because 1. you don't have the paperwork to support it or 2. You have paperwork, but it's so disorganized that you just don't have the time to sort them. To make your life a little easier this time of year, I created this post with business deductions tips to make this process simpler to manage. First, use a software like … [Read more...] about A Complete Guide to Home Office and Business Deductions
Small Business Bookkeeping Tips Archive Page
Welcome to our Small Business Bookkeeping Tips archive page to help you and your business streamline processes. Read the archive posts for bookkeeping tips to use in your business.
Accounts Payable Tips Every Owner Needs to Know
Have you ever lost or forgotten to pay a bill? When it happened, how did you feel going on a frantic search for the bill/e-bill wasting time and energy finally realizing you must have deleted it? Anxious? Then giving up and contacting the payee and requesting another bill feeling ashamed that you lost it in the first place. You are not alone. We all have that stressed anxiety when forgetting a task that needs to be done. Here are accounts payable tips that will help reduce stress while doing … [Read more...] about Accounts Payable Tips Every Owner Needs to Know
10 Ways a Bookkeeper Can Help a Business
There are many different tasks a bookkeeper can do to help small business owners besides reconciling the bank account. Below are ten ways they can help your business. Ten Ways a bookkeeper can help You Reconcile your bank accounts: Reconciling your bank accounts each month will keep your books in order and reduce your stress at tax time. Reconcile your credit card account: many companies charge on the credit card for supplies and other things needed to run the business. So, … [Read more...] about 10 Ways a Bookkeeper Can Help a Business
3 Important Things You Need To Know About Data Entry
I have offered bookkeeping services for about 10 years now and there are 3 important things you need to know about data entry when venturing into your new small business. You can get into real trouble if you don't have your bookkeeping in order. Here we go. ALWAYS start your business with a good bookkeeping application and process! Whether it is QuickBooks Pro, QuickBooks Online, Quicken, or any other software or online service, the application needs to be established. Spreadsheets are OK if … [Read more...] about 3 Important Things You Need To Know About Data Entry
Easy Ways to Track Mileage for Your Small Business
Whether you are tracking your small business mileage for tax purposes or tracking mileage to bill clients, it is important to keep good records. It's really frustrating and stressful at the end of the year, you are missing information because you didn't track it properly or consistently. Then, you have to run around tracking down all the information that should have been tracked all along. I know we have all been there. But, this year, let's vow to keep our mileage tracking more … [Read more...] about Easy Ways to Track Mileage for Your Small Business
8 Small Business Reference Websites Every Owner Must Use
Did you ever look for information online and just get frustrated about where to go and what to look for? There are so many reference blogs and sites on the Web that it can be overwhelming for a small business owner like yourself. Lucky for you, here are my favorite reference websites. Reference Websites for small businesses startups IRS.gov for updated information on tax and payroll information. Yes, I know, you may be thinking that the IRS site is too complicated to use. It has gotten a lot … [Read more...] about 8 Small Business Reference Websites Every Owner Must Use
Make Bookkeeping A Priority for Your Small Business
I work with plenty of small business owners that feel bookkeeping frustrates them. They don't want to do it. They don't even understand the importance of it. I'm here to tell you that it is important and it most is done properly to be effective. Make Bookkeeping A Priority For Your Small Business First, you will need to understand the benefits of having an efficient bookkeeping system: Making sure your cash flow has a system. By using a budget and tracking specific transactions … [Read more...] about Make Bookkeeping A Priority for Your Small Business
5 Essential Bookkeeping Tips for Small Business
Bookkeeping has many detailed steps. If you are not a detailed person, this may be a struggle to handle. I have many clients that when they started their business didn't know how to manage all the details in bookkeeping. And, by the time I started working with them, we had to create systems on not only how to keep the books, but also the system of how to keep the paperwork so that I could get it into the books. This week we are going to talk about the five essential bookkeeping tips … [Read more...] about 5 Essential Bookkeeping Tips for Small Business
How To Create A Small Business Emergency Savings
It's no secret that disasters happen even in business. But are you ready for it? How much money do you need in your small business emergency savings (Rainy day fund) to help you in the case of those moments? This question is the question we are going to tackle today. First, we need to determine what your current monthly expense is in your small business. If you use a bookkeeping software, this will be pretty easy to do. Print out last year's Profit and Loss report (P&L) and categorize … [Read more...] about How To Create A Small Business Emergency Savings
