Bookkeeping and Accounting « The Payroll Department

Archive for Bookkeeping and Accounting

Financial Records Tracking for Small Business Success

Posted by Ariane on October 4, 2016

As a small business owner, do you have file folders filled with receipts for expenses and invoices that you haven’t inputted into an accounting system? Do you have people who owe you money, because you haven’t taken the time to invoice them? When you want to make a business purchase, how do you know if you will have sufficient funds to cover the cost? Keeping accurate financial records is a must if you want your small business to be successful. (more…)

Tags: benefits of outsourcing, bookkeeper, bookkeeping, financial tracking, opening a small business, payroll service, small business, unemployment taxes

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Mis-categorization and Generalization Can Throw Your Accounting Records into a Tizzy

Posted by Elaine on September 27, 2016

Small business owners and entrepreneurs have a reputation for being outliers, rebels and thinkers of a different sort. Many times that means they come up with some really great ideas and innovations, but it can also mean that they stumble into problems when it comes to general accounting practices. Some big idea people are extremely detail oriented and others can’t do a thing with details – and therein lies the problem. (more…)

Tags: accounting, benefits of outsourcing, bookkeeper, bookkeeping, Grace Walker, Indiana, running a small business, small business, The Payroll Department

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The All Important Audit Trail: What Is It and Why You Need It

Posted by Ariane on September 13, 2016

Whether you own a large or small business, every business generates documents that record your company’s daily transactions. These records are important because they provide you with documentation to support your bookkeeping entries. Whether or not your small business is ever audited, it’s a must that you maintain a complete and accurate audit trail to manage your operations, detect fraud, and ensure compliance with government regulations. (more…)

Tags: audit trail, benefits of outsourcing, bookkeeping, Brownsburg, running a small business, small business, small business bookkeeping, The Payroll Department

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6 Reasons Your Business Needs Proper Bookkeeping

Posted by Ariane on August 23, 2016

Proper bookkeeping is an essential element for any size small business – larger or smaller. Unfortunately, many entrepreneurs often neglect this task in favor of growing and running their business, which is understandable. After all, you’re a business owner – not a bookkeeper. (more…)

Tags: benefits of outsourcing, bookkeeper, bookkeeping, Grace Walker, Quickbooks certified, small business, small business owners, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Why Small Businesses Lose at Tax Time

Posted by Elaine on August 16, 2016

It’s just a couple of bucks … That’s what busy small business owners say to themselves all the time when they stop to pick up envelopes or paper for their office. But it’s that mindset – and the lack of accounting that can be a big cost to their business in the end. While the expenses might not add up to be more than $50 or $100 a month, that can be $600 to $1,200 a year! And the cost … (more…)

Tags: accounting, benefits of outsourcing, bookkeeper, bookkeeping, business expenses, expenses, small business, small business accounting, The Payroll Department

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Bookkeeping Mistakes – Every Small Business Owner Makes Them

Posted by Elaine on July 26, 2016

My friend, Karen, has a boutique. She has been running the small business single-handedly for close to six years now, and she recently expanded to take over some additional space next door. The additional square footage has had a greater impact than she expected – and has created some real stress and most importantly, one humongous realization. (more…)

Tags: benefits of outsourcing, bookeeping service, bookkeeper, bookkeeping, Bookkeeping Department, bookkeeping errors, Grace Walker, outsourcing, small business

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Get Your Expenses and Receipts Under Control

Posted by Ariane on July 19, 2016

Are you a solopreneur? How do you handle keeping track of your expenses and receipts? Do you just throw your receipts into a big box to handle at a later time? Maybe you tell yourself that you’ll make time to scan your receipts and input your expenses on a monthly basis. But you know what ends up happening. Just like every other small business owner, you get too busy, and the task just continues to accumulate until tax time comes along and you scramble to get everything organized. So stop putting yourself through this added stress by hiring a bookkeeper. (more…)

Tags: bookkeeper, bookkeeping, Bookkeeping Department, business expenses, expenses, receipts, recording receipts, small business owners, The Payroll Department, tracking expenses

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Are You Keeping Your Small Business Accounts In Order?

Posted by Elaine on June 21, 2016

The truth always comes out at this time of year – right after small business owners file their tax returns. Unless a business owner has learned about accounting practices and knows the ins and outs of profit and loss statements and balance sheets, the language of business finance can be absolutely foreign. As a friend of mine often says, “I think they’re talking Pekingese.” (more…)

Tags: benefits of outsourcing, bookkeeper, bookkeeping, Grace Walker, Quickbooks, small business, The Payroll Department

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Is Your Bookkeeping Killing Your Small Business?

Posted by Elaine on May 24, 2016

It’s pretty overwhelming when you think about it – one out of five new businesses are destined to fail. The top reasons for small business failures all tie back in some way to financial management. Cash flow, cash management and just knowing the numbers are at the crux of the problem. The reasons for that are probably pretty simple: many small business owners don’t go into business to do bookkeeping and be a financial analyst. They go into business to provide a product or service to the masses. That’s what really floats their boat. (more…)

Tags: benefits of outsourcing, bookeeping service, bookkeeper, cash flow, employers, financial management, Indiana, small business, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Business Credit Card Use Makes Recordkeeping Easier

Posted by Ariane on November 26, 2013

If you have a small business, you may be wondering if you should have a credit card for your business. The answer to that is “Yes!”

A credit card can be a great benefit for entreprenuers. It can enable your business to build its credit standing, which can be useful when obtaining loans for future expansion and growth. Also, it provides a source of quick capital and makes it easier to manage business transactions.

Let’s say you’re at work running your business and the need for a calculator comes up. You run to the store to purchase it. What are you going to use to purchase it? Cash? A credit card? (more…)

Tags: Brownsburg, business, business accounting, business credit card, business expenses, Indiana, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business, Payroll

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