Accounting

Business Financial Software Vs Personal Financial Software On the surface, the question of business financial software vs personal financial software may seem self-explanatory. However, there are some businesses that are using personal financial software for their business needs. The team at Redmond Accounting does not recommend that. At all.  We’re here to shed some insight […]

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

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

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

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

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

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