Get More Out of Your Financial Statements
Your financial statements are more than just numbers—they’re a powerful tool to gain insights into your business’s health and performance. Understanding and improving your financial statements can help you make informed decisions that drive growth, manage cash flow, and maximize profitability. Here are some tips to help you get more out of your financial statements: […]
Debunking 5 Common Bookkeeping Myths Hurting Your Business
Let’s clear up some confusion about bookkeeping myths that could be slowing down your business growth. From thinking bookkeeping only matters at tax time to assuming software can do it all, these misconceptions might be holding you back. The Myths Here are some common BIG misconceptions: Myth #1: Bookkeeping is only important at tax time. […]
How Accurate Numbers Can Increase Your Business’ Value
Accurate accounting is not just a matter of compliance; it can significantly impact your business’s overall value. 6 Ways to Increase Business Value Here are several ways in which accurate books can increase your business’s value: 1. Improved Financial Decision-Making Accurate financial records provide you with a clear understanding of your business’s economic health. This […]
How Accurate Accounting Boosts Your Company’s Value
Keeping track of your business’s money (accounting) is really important. It’s not just about following rules; it can also help your business become more valuable. Here’s how. 6 Ways to Increase Business Value Here are several ways in which accurate books can increase your business’s value: 1. Make Better Money Choices When you know exactly […]
6 Month-End Bookkeeping Tips: Start The Year Off Right
Each January you might be writing your goals for the year. How about putting month-end bookkeeping on your list? It’s important to make sure your company’s money records are well-organized. 6 Month-End Bookkeeping Tips So, here are some simple tips to help you. Match Your Bank Records: First, make sure that what your bank says […]
Accounting for Crypto
Cryptocurrency is a relatively new monetary instrument that has the potential to change the way we do business and transact currency across the globe. Often misunderstood or misvalued, it’s been at the crux of financial frauds and institutional collapses. It badly needs boundaries, categorization, and established policies for both trading and holding the currency. If […]
Accounting Method Changes for Small Business Taxpayers
Recently, the IRS and Treasury released two revenue procedures on accounting method changes for small business taxpayers. Rev. Procs. 2022-9 and 2022-14 enable small business taxpayers, not a tax shelter, to obtain automatic consent to change to simplified methods of accounting, i.e., the cash method of accounting. These changes: Modify existing automatic method changes; Add several new automatic […]
