Accounting Archives
What is a Balance Sheet? A balance sheet is a financial statement that provides a snapshot of a company’s financial position at a given point in time. It is used to show the company’s assets, liabilities, and shareholder equity. The balance sheet is referred to by this name because it must always balance; meaning, the […]
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Controller vs. Comptroller – Key Differences In the accounting world, controller vs. comptroller has a contentious history. The two words have a similar definition which begs the question: is there really a need for both? As with all intellectual discussions, it’s best to examine historical facts first. Keep reading as we dive into the great
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Setting Your Accounts Payable Up For Success In the world of business, it’s not unusual for accounts payable to be a lesser priority over accounts receivable, especially in small businesses. It’s only natural because accounts receivable equals money into the business and that’s a priority. Nobody likes to talk about money, but money is
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Should A Small Business Use Cash Or Accrual Accounting? Running a business means you have your hands in many pots stirring away to keep the business going. If you run a small business, chances are you are doing 90% of the daily tasks yourself. One of those tasks is handling your small business accounting. Keeping
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What Is The Difference Between A CPA And An Accountant? Accountants, bookkeepers, CPAs, OH MY! In the financial world, many titles are given to accounting professionals that specify their jobs and skills. Controllers, CFOs, payroll specialists, CPAs, bookkeepers, tax preparers…the list goes on. So as a business owner who is not an expert in all
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KPIs – What are they, and Does My Business Need Them? We’re here to discuss all about KPIs. In the following paragraphs, you’ll read all about the meaning of KPIs and how you can use them in your business. But first, the burning question…what is a KPI? KPI Explained Key Performance Indicators, or KPIs, are
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How Outsourced Accounting Can Benefit Your Business Would you benefit if every task of your business could be streamlined, allowing you to spend more time focusing on building and growing your business? Of course, you would. So many of your everyday tasks evolve around things that maintain your business and not GROW your business. If
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5 Automated Accounting Systems For Small Businesses As a small business owner, one of your goals is to work as efficiently as possible, correct? We’d hope so! In order to do that, it means it’s time to cut the clutter, ditch the piles of invoices and receipts, and say hello to digital accounting technology. Accounting
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Drowning in Paper? Time for a Virtual Accountant! The world is in the palm of your hands. In our last article, “How To Use Expensify On Your Mobile Device,” we discussed how our lives revolve around the internet and the virtual platforms that allow us to do our job. When you first started your business
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Is Accounting Automation Worth It As a business owner, you have a lot to do. You’re always keeping an eye out for ways you can save some time and money. But be honest with yourself and admit that there might be a better way to automate and grow your business. Using automated accounting systems may
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