Tag: accounting
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Bookkeeping Tips for Self-Employed
Being self-employed comes with many responsibilities, one of which is keeping track of your finances. Accurate bookkeeping is essential to understanding the financial health of your business and making informed decisions. Here are some bookkeeping tips to help self-employed individuals stay organized and on top of their finances. Keep a monthly budget to track your […]
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Sensible Investing Benefits
Sensible investing offers several benefits, both in the short term and over the long haul: Risk Management: Sensible investing focuses on diversification, which spreads out risk across different assets, sectors, and geographical regions. This helps mitigate the impact of any single investment performing poorly. Consistent Returns: By avoiding speculative or overly volatile investments, sensible investing […]
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Common Errors in Tax Preparation
Mistakes can happen when you’re preparing your taxes, even with all the technological automation on hand. A good way to avoid the oversight is to keep a list of common errors that can happen when making your report. •Assuming the wrong due date•Confusion over the most advantageous filing status•Not claiming the Earned Income Tax Credit•Failing […]
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Reasons Why Your Business Needs an Accountant
Do you ever think your business needs an accountant? There is a high percentage of small business owners shutting down after just a year of operation and most of the time it is due to making wrong financial decisions. Most small business owners don’t hire an accountant so they take on all the financial responsibility […]
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Basic Steps When Starting a Business
Where should you begin when starting a business? Each person’s ideal timeline for launching a new business is different. First and foremost, you should start a business when you have enough free time to dedicate to it. You’ll need to be resourceful with funds once you’ve started your business idea and are ready to start working […]
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Three Helpful Invoicing Tips for Business Owners
Invoicing is a common difficulty for small businesses, especially when they first start out. Late invoices can drain cash flow and reduce profit margins that are already tight. It is, however, avoidable. These three Invoicing tips can assist you in effectively sending and receiving payments on schedule. Setting up solid systems for dealing with late […]
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The Basics of Small Business Accounting
On its most basic level, accounting is how a business keeps track of how much money is coming in and going out. Small business accounting involves the process of tracking, recording, and analyzing the financial transactions of your business. It translates numbers into a comprehensible statement about the profitability of your business. If you’re a startup company […]
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How to Create and Use Vendor Records in QuickBooks Online
Keeping your supplies coming in may be difficult right now. Be sure you know your vendors and track their records carefully. Your company counts on its supply chains to keep operations running smoothly. When it falters, you can have trouble creating and shipping products. Problems may even crop up that have a negative effect on […]
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Invoicing Mistakes to Avoid
Keeping a record of your sales is important especially when it’s time to make your financial reports. Staying up to date and organized with your invoices will show you how your business is growing and can even strengthen the relationship you have with your clients. When you run a business, there are mistakes to avoid […]
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Starting a business in 17 steps
Taking on that daring leap from an idea to starting a business takes courage and determination. It’s a big risk and can certainly be overwhelming but the fruit of your labor will be the sweetest when you have a taste. Every business owner knows that in order to make it out there, they would need […]