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Accounting and bookkeeping are two terms often used interchangeably, despite being two fairly distinct functions that serve markedly different purposes in the financial world. To wit: while these two disciplines are certainly “related,” they differ widely in their specific professional… Read More
Posts Tagged ‘business finances’
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Should Your Small Business Outsource Its Accounting?
Small business owners are constantly balancing any number of tasks and responsibilities, including—more often than not—a good share (if not all) of the accounting and bookkeeping. However, for most entrepreneurs, these are inordinately time-consuming, complex tasks, requiring a certain level… Read More
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A Handy Guide on the Depreciation of Fixed Assets
Depreciation of fixed assets is a crucial process that businesses undertake to gradually reduce the recorded cost of their fixed assets over time. Fixed assets such as buildings, furniture, and office equipment can be depreciated, with the exception of land…. Read More
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Why is QuickBooks the Best Bookkeeping Software for Small Businesses?
QuickBooks bookkeeping software is the ideal solution for small business owners who are looking to streamline their administrative tasks and improve their financial management. With QuickBooks bookkeeping software, small businesses can save time and reduce costs by automating tasks such… Read More
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What’s the Difference Between Amortization and Depreciation?
If a company acquires assets like company vehicles, corporate headquarters, or patents, these assets are expected to provide benefits to the company over an extended period rather than just in the period they are acquired. To reflect this expected value… Read More
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The 3 Types of Financial Statements For Small Businesses
For small business owners, keeping a close eye on the health of their business is the key to long-term success. Especially for first-time business owners who have decided to jump in head-first, it can be very difficult and overwhelming once… Read More
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Every Startup Should Have a Professional Bookkeeper
Lots of people dream of starting their own business and being their own boss. In most cases, the amount of work that goes into it is so much greater than most people imagine. In addition to the actual work that… Read More
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Financial Metrics Every Small Business Owner Should Track
Owning a business is a lot of work. In addition to the actual work that your business does – selling, landscaping, fixing, treating, etc. – you also have to do all of the tasks of a business manager. And of… Read More
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What Payroll Schedule is Right for Your Business?
When you’re running a small business, the payroll schedule might not be your first concern, but it is critical to carefully consider the different schedules available and choose the one that works best for you, your business, and your employees…. Read More
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The Importance of Forecasting Your Small Business
Forecasting any business is vital. However, many small companies don’t partake in this process. Business owners tend to the logistics of running their company and solving issues. Therefore, forecasting a small business can be challenging, if not seemingly impossible. When… Read More