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
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.
9 Easy Ways To Market Your Business On a Budget
These days, a small business needs to be in front of people more frequently than ever before. There are so many distractions that may take the potential customer away from you. Though, as small business owners, we need to have strategies in place to be able to consistently market our small businesses on a regular basis with little money when necessary. Follow along and find out how to market your business on a budget. Here are nine(9) tips to stay on budget while doing small business … [Read more...] about 9 Easy Ways To Market Your Business On a Budget
How Long Should I Keep Business Records
How long do you keep your business files? Do you keep them forever or do you get rid of them after a certain length of time? Keeping files for a business is different from keeping your personal files. There are many different types of business files that need to be kept at different lengths of time. Over the years small business owners have asked me these questions. To be honest, the IRS doesn't have a clear, across the board answer to this question so here is what I suggest. If you wish to … [Read more...] about How Long Should I Keep Business Records
7 Ways to Speed Up Bookkeeping Tasks for Startup Solopreneurs
As startup solopreneurs, there are many tasks need completing in a new small business. A lot of the to-dos are bookkeeping related, and not everyone loves to do bookkeeping tasks. But, if you don't set up a proper system now, you will most likely regret it later. So, lucky for you, I created a list of 7 ways to speed up your bookkeeping tasks. Do only a few at a time to help you speed up the process. Easy Steps to Speed Up Your Bookkeeping Tasks Make a list of all the bills you can … [Read more...] about 7 Ways to Speed Up Bookkeeping Tasks for Startup Solopreneurs
How to Pick a Payroll Service for your Business
I work with sole proprietors and small business owners who have 1 - 5 employees. But, a lot of small businesses have more than five employees. For larger small business companies, you will need to find a larger payroll service professional. Read on to learn about how to pick the right payroll service. Ask for recommendations from other associates. There are many people who use payroll services, so asking around will give you some direction on who to talk to. Check to see if they have … [Read more...] about How to Pick a Payroll Service for your Business
How to Show Income Breakdown on a Profit and Loss Report
While in QuickBooks reviewing my client's P&L report, I realized that it didn't show the breakdown of where the money came from. This particular client does not invoice through QuickBooks so the information wasn't being tracked. I wasn't going to add more work to the client's bill to duplicate the invoice process. So, instead, I created a different way to track this information. To save paper, money, and help the client, I created this quick trick on how to show income … [Read more...] about How to Show Income Breakdown on a Profit and Loss Report
How to Create a Solopreneur Business Tracking Expenses Sheet
When starting your business, you may start racking up business expenses. So, to not forget them, developing a business tracking expenses sheet works nicely. It can be created at the beginning of the year for the entire year and will help you keep on top of when things are due. This especially works well when there are bills that are issued quarterly or yearly. I found that this worked well for all my admin bookkeeping clients and helped me make sure all the bills were paid and … [Read more...] about How to Create a Solopreneur Business Tracking Expenses Sheet
How To Make Your Budget More Effective
Control your small business through budgeting is crucial to manage any small business. Every small business needs to check their incomes and expenses to make sure they have enough funds to do everything they want to do AND that needs to be completed. This is how I started an effective budget for my business. First, decide what software to use, like QuickBooks or Quicken or an online app that is reliable. There are many software applications out there so be sure to pick one you are willing to … [Read more...] about How To Make Your Budget More Effective
How to Create a Well-Organized Small Business Bookkeeping Binder
How organized are your small business bookkeeping papers? Are they all in one place or do you have them in files in a filing cabinet? There are benefits of creating a well-organized small business bookkeeping binder like the one I am going to discuss today. Five Benefits of making a well-organized small business bookkeeping binder. First, it allows you to keep all your business papers all in one place. Second, Employee files needs to be organized well. Visit Record-keeping policy from … [Read more...] about How to Create a Well-Organized Small Business Bookkeeping Binder
