Bookkeeping Cleanups for Small Businesses
Your business accounting software should be used exclusively for business transactions. That’s its core purpose—providing a clear picture of how your business is performing. Personal accounts should not be a factor. Yet, I often start working with new clients who’ve linked personal accounts to their business software. If this sounds familiar, it’s time to reconsider. …
Continue reading “Protect Your Peace of Mind: 5 Powerful Reasons to Keep Personal Accounts Separate”
The bookkeeping function mostly operates behind the scenes. Transactions are entered and reconciled, reports of what has transpired are printed, and business decisions are made based on those reports. What happens if those reports aren’t accurate? You could be making decisions that end up damaging your business. I have worked on several cleanup projects over …
Continue reading “A Bookkeeping Cleanup Can Put You on the Right Path”
Making sure that your books are clean and your reports are accurate comes down to understanding the workflows in the software that you are using. The basics are usually handled the same between different packages. However, you still need to fully understand how your software handles transactions so that you can be confident that the …
Now that we have started a new year, it’s time to get our tax filings prepared for last year. Understandably, it is a stressful time but it’s also a necessary evil. Here are a few tips to make tax season a little less painful. Make sure that your books are current It’s nearly impossible to …
During the first quarter of 2022, over 300,000 new businesses were started. Statistics show that around 20 percent of new businesses fail within the first year. Many of these failures are due to lack of preparation. Having a plan and working that plan can help improve your chances of starting a business and being successful. …
Continue reading “What to Consider When Starting a Business”
Budgeting doesn’t have to be a bad word. In fact, creating a budget can help you control your expenses before you are “in the thick of it.” Using a simple budget calculator like the one we have created makes the process a bit easier. Download your copy at the end of this post. To be …
In a few short weeks, 2022 will become a memory. The start of a new year brings with it the opportunity for a fresh start such as a career change or starting a new business. A new year also brings with it the opportunity to build upon what you have already begun. In our society, …
There are many activities that go into starting a business. Some are given little thought and low priority. Cape May Counting House understands that having the proper setup for your accounting activities will make your job as a new business owner immeasurably easier. Below is our Startup Accounting Checklist which will make your life easier …
Is your business operating as effectively and efficiently as you need it to be? Probably not, and the reason may very well be that you lack procedures and systems to conduct your daily operations. Every task that is completed needs to be standardized and, more importantly, written down. Without written operating procedures you invite inefficiencies …
The coronavirus pandemic has been life-changing. Currently, in New Jersey, as in many places across the country, certain businesses have been shut down, others are restricted, and gatherings of more than 10 people are banned, among other things, all in the name of trying to curb the spread of COVID-19. While these are some very …
Continue reading “Finding Silver Lining in Coronavirus Pandemic”
