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Expert Bookkeeping & Reconciliation Tips

Reconciliation is a very important aspect of the bookkeeping and accounting process. It is also the only way to ensure your numbers are accurate. As such, reconciliation of the bank and credit card accounts should be done on a monthly basis, and a report of the reconciliation kept for your records. That said, reconciliation can be tedious especially if there are multiple accounts to reconcile and they

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Could You Be Losing Money Being Behind on Your Bookkeeping?

Are you a small business owner trying to manage all aspects of your business on your own? Have you fallen behind with your bookkeeping? Do you find that your bookkeeping tasks are taking the passion out of your business? Do you pull your hair out every time you think about keeping the books? (Well, not literally, I hope) Let us help you! We specialize in catching up

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Thinking of Making the Move to Cloud Bookkeeping?

The fact that you are reading this means you have thought about it. But would you have been interested in a “cloud based” accounting and bookkeeping application a few years ago? Probably not! Like myself and many small business owners, you were probably still trying to get your arms around the cloud and doubting that you would ever entrust your most critical financial data to some outside

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1099’s: Keeping a Tab and Ensuring Compliance

As with many tax forms 1099’s can be pretty confusing, especially now with more rules – and exceptions. There are multiple 1099 types, but the most commonly used is the form 1099-Misc. As such, we will focus on the 1099-Misc. Here is a shortlist on the things that you need to know about 1099-Misc – and ensuring you are doing things right. As always, this is not

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Reconciling Accounts Receivable

Managing your accounts receivable is very important because the timing of receivables plays a major role in your company’s cash flow. In addition, you want to ensure your customer balances are accurate, and your receivables current, based on the terms of service you offered your customers. Reconciling the individual customer account balances with the general ledger balance establishes the accuracy of the balance sheet asset. Reconciliation of

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Reconciling Your Business Accounts

Reconciling all your accounts on a monthly basis is the single most important thing you could do for yourself and your business. There are numerous software available to help make this process effortless, but regardless of the software or lack thereof, monthly reconciliations must be done in order to avoid costly mistakes. Why reconciling your accounts is so important Reconciliation is so important because it is the

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Do You Owe Sales Tax & Not Realize You Do?

Many states are in a state of budget deficit and are looking for ways to fill that gap in the shortest time possible. They are searching really hard for new income source, and many of them may be on their way to finding one in the form of owed sales taxes to them – plus fees. They are creating means to get their monies in, such as

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Advantages and Disadvantages of Doing
Your Own Bookkeeping

There are five (5) key questions that must be answered before making a decision to do your own bookkeeping versus hiring a professional: How big is your business? What is its growth forecast? How complex are its finances? What can your business afford? Are you competent and knowledgeable enough in this field to handle your own bookkeeping? If you can answer the abovementioned questions honestly, your decision

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