Being a sole trader has a number of benefits; plus, it shapes your tax situation and the laws that apply to you. While this is the easiest form of business to start, it is important that you consider a few things before you do. If you already have a business, then these are good to [...]
Every business has an accounting method no matter how disorganised. If you are like a lot of small business owners, you are likely to have a manual system (using Excel for example); but, while using spreadsheets may seem simpler to you because you are used to it, it is not always best. In fact, it [...]
You could consider yourself carelessly managing the cash flows in your business if you always lose track of your money or if you already asked yourself, “Where is my money?” In a growing company, cash is the most essential part especially in the financial management of an entity. The lapse between the period you have [...]
If you are questioning whether or not there are benefits to outsourcing to a bookkeeper, then congratulations for realizing the value of such a resource to your company. This is definitely a step in the right direction. The simple answer is: “Yes! There are a lot of benefits to outsourcing your bookkeeping.” Here are five: [...]
Your business’ cash flow is vital to sustaining everything because it determines if you can pay your monthly bills, afford your daily operations, or pay for business emergencies as they arise. In other words, it tells you how much liquidity you have to work with. While this may be hard to do, it is best [...]
Accounting will be an important part of your business no matter the size. What may change is how complex a system you need, how much time has to be invested, and how much expertise it will require. Luckily, a trained bookkeeper can meet these needs no matter how big or small, and the basic roles [...]
It is good to have some form of accounting software even if you outsource to a bookkeeper. The reasons may vary from the power it gives you over you business’ finances, the possibility that you may have to do something last minute and without your bookkeeper’s help, as well as the fact that it will [...]
