Cash flow is the lifeblood of any business. But what exactly do we mean when we talk about cash flow? And why is it SO important to your business? Cash flow refers to how money moves in and out of your business over a specific period of time, whether over one month, one quarter,… Read More »
To be clear, I don’t have anything against spreadsheets; I actually love spreadsheets! I use them quite regularly for a variety of things. If you’re a small business owner using a spreadsheet for your bookkeeping, you’re still doing much better than many small businesses that use only their bank account and statements. And for a… Read More »
As a business owner, your plate is full–overflowing even. You likely wear many hats, and one of those may be a bookkeeper/accounting hat. You’re probably capable of keeping track of accounts payable and receivables, but if you’re like most business owners, it’s not your favorite thing to do. There are probably many other things you’d… Read More »
The short answer is yes, it can be. I work with many solopreneurs who have only one business bank account and it works well for them. However, if you struggle to maintain an adequate balance in that account, or to pay yourself, your employees, or your taxes then opening another account or two may be… Read More »
Have you ever wondered if there were things you should be doing on a quarterly basis that maybe you were missing? Here are 4 things you should be doing within the first few weeks of a new quarter to make sure your business and books won’t get behind and you are ready for whatever the… Read More »
Most small businesses start out on a budget and the small business owner tries to save money wherever they can, which means doing a lot of tasks themselves. This can seem like cost savings at the time but in truth it can cost the business a lot of money in the long run. Here are… Read More »
If you own a business or are a freelancer/subcontractor to businesses, you are most likely very familiar with the 1099-MISC form. This form has been used for the past 30+ years to report certain payments including payments to subcontractors, freelancers, service providers, landlords and attorneys. As if there haven’t been enough changes in 2020, there… Read More »
As business owners and freelancers, we pay a lot of different vendors for a lot of different things. Most of these payments wind up on our Profit & Loss / Income Statement as expenses. But there are a few that do not. And these are usually the ones I get asked about. “Why isn’t… Read More »
“I haven’t had a vacation in years.”, is a sentence I’ve heard many clients and potential clients state throughout the years I’ve been in business. As a small business owner myself, I understand how difficult it can be, especially if you are a one-person operation, to take time off. You feel guilty that you’re thinking… Read More »
Many successful businesses began as a hobby and grew to be a business. But some businesses also become hobbies. Why? Because their owners stop treating them like businesses. Are you enjoying a hobby or running a business? How a Hobby Becomes a Business First, let’s take a look at how a hobby becomes a business.… Read More »
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