10 Tips on How to Easily Keep Track of Your Business Finances

  • Post author:
  • Post category:Basics
  • Post comments:0 Comments

Bookkeeping 10 Tips on How to Easily Keep Track of Your Business Finances October 27, 2020 Written by Teresa Oliver Bookkeeping Made Easy It is the end of a very long week and all you want to do is pour yourself a drink and turn on Netflix……. But there is one more thing you must do before you can call it quits, reconcile your books. Oh, the dreaded reconciliation and circus that is your bookkeeping software. Let me help you K.I.S.S. this chore GOODBYE! A good bookkeeping software is essential (Whether it is an excel spreadsheet, purchase ours here, or…

Continue Reading 10 Tips on How to Easily Keep Track of Your Business Finances

What is a system?

BASICS What is a system? June 26, 2020 Written by Teresa OliverWebster’s Definition: a regularly interacting or interdependent group of items forming a unified whole MBAS Definition: a set of clearly defined business processes that contribute to the continued increase of the bottom line.Why every business needs a system?  Your business is a system, without it you are essentially chasing your tail to meet the demands of your sales.  A system will allow you to:1.       See what is happening in your business in real time2.       Make decisions on actual data from your business and not assumptions based on the market/industry3.       Expand…

Continue Reading What is a system?

Are you running through Accountants?

ARE YOU RUNNING THROUGH ACCOUNTANTS? June 7, 2019 Written by Teresa Oliver There are only two reasons why this is happening: 1. You are corrupt 2. You are not vetting them properly You are corrupt Yes, I said it!  Not everyone believes in following the law. The rules, however, can be broken, rewritten, or worked around in an ethical way. The entire tax code is built on, and continues to be, on rules being broken, but in a lawful, ethical manner. If you and your business is corrupt, there is no cure for your problem of running through Accountants.  My…

Continue Reading Are you running through Accountants?

Internal Controls

Bookkeeping Internal Controls March 15, 2019 Written by Teresa Oliver What are they and why they matter to your business? Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability and prevent fraud. Besides complying with laws and regulations, and preventing employees from stealing assets or committing fraud, internal controls can help improve operational efficiency by improving the accuracy and timeliness of financial reporting. https://www.investopedia.com/terms/i/internalcontrols.asp There are a few internal control violations SMB's continuously make; like having their office manager handle all their back-end, having little to no…

Continue Reading Internal Controls

Bookkeeping Automation………NOT!

Bookkeeping Bookkeeping Automation………NOT! March 11, 2019 Written by Teresa Oliver Business owners! Do not be persuaded by the glossy images and comedic videos trying to get you to sign up for “automated bookkeeping”.  It does not exist and will NEVER exist. Yes, companies that are trying to sell this farce; Bookkeeping can NEVER be automated!  Why, because bookkeeping is wholly dependent on the company you are doing the bookkeeping for.  Companies’ spending habits, processes and overall running of their business is an emotional journey.  Automation can never take the place of human emotions.  How will AI know if a purchase from…

Continue Reading Bookkeeping Automation………NOT!