Every day we turn on the TV or read an article and hear about the benefits of working in the cloud. How the IT industry is using it to make a bigger mark in the world. How the medical industry is using it to become more innovative. But what about YOUR industry? Yes, there are…
I often receive questions about how to set-up a business. Potential new business owners are excited to set-up their businesses, but they don’t always know the best way to set-up their business. There is tons of information on setting up a new business and you should do your due diligence and research on each type…
I recently did a speech on the 5 simple strategies to keeping more money in your business. In preparing for this speech I determined that 3 of those strategies were the MOST important. 1. Re-aligning your goals. It is important to determine the direction your business is going and gain clarity on why your business…
Sales tax is a simple yet complicated thing when you are a business owner. Am I required to charge it or not? Can I be exempt from paying it or not? The basic rule is this: sales tax should be charged to the end-user of the item purchased. In most states, most items are assessed…
This day and age we are living in a technology society. Everything is online – banking, photos, shopping, music, TV shows and even movies. Yet at the same time, I am amazed at how many people don’t want to do things online. Are they going to stay in the paper age forever? Even with accounting. …
Financial control is defined as the point where someone is in charge of maintaining a central system that is devised, formulated, and approved to be the guidance regarding the accounting methods and procedures of a company. It is the one thing that can make or break the success of a business. It is the skill…
When recording business expenses, it’s important to remember that all costs fall into three categories – direct costs, indirect costs and general & administrative costs. It is important to account for your expenses accurately because it helps you understand where you are spending your money and at what point your business begins generating a profit. …
This week’s blog will be short and sweet. I was having a conversation with a client and she kept saying expenditure and I kept saying expense. When finally she asked, “Well what’s the difference?” Well believe it or not, there is a difference. A subtle one – but a difference none the less. And depending…
