Archive for the ‘Business Advice’ Category

A Great Article on When a Small Business Should Hire a CFO.

November 28, 2011

Growth of a small business is no easy task.

It takes strategic planning, market research and personal investment, both financial and emotional. There are so many questions small business owners have in regards to expansion and growth. Armed with the facts, good timing, and long term knowledge and support a company can go to the next level of production, income, and profit. It is important to choose leaders with the appropriate skill set to achieve the business goals. If you are wondering when your business should hire a Chief Financial Officer, or CFO, in order to take the next steps towards your company’s long term success then check out this article:

When Should a Small Business Hire a Finance Chief?

New York Times writer Darren Dahl, broaches this question in his October 26th, 2011 piece. This article clearly explains the role of the CFO and how it differs from the role of CEO. It is important these two positions be defined individually and not identified as exactly the same.

Accountants and bookkeepers are often asked for opinions regarding company finances, revenue, taxes, payroll and expenses. It is important to consult with an accounting and bookkeeping expert when making choices about business growth and development.

 

 

 

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Starting a New Business in North Carolina

May 23, 2011

Starting a Small Business in North Carolina

The state of North Carolina has made many efforts 0ver the years to make the entire state a place where businesses of any size can expand or start up. There are a variety of programs from Raleigh to Asheville and throughout the state that support and facilitate the growth and success of business startups.

Find Small Business Startup Resources on ThriveNC.com

ThriveNC.com is a website that shows how much North Carolina is committed to helping NC entrepreneurs and business owners succeed with business start-ups of all sizes. The website includes information on the NC Department of Commerce, the Small Business & Technology Development Center, the NC Community College System’s Small Business Center and Incubator Network, the NC Secretary of State, NC Department of Labor, NC Rural Center’s Institute for Rural Entrepreneurship   and much more.

Business Startups in Asheville can visit AshevilleSCORE.org

If you are a new business or start up company in Western North Carolina one of the resources available is FREE business counseling from Asheville SCORE. SCORE is a network of volunteers made up of retired executives, men and women that have had great success owning, running and managing companies of all sizes. They are qualified to offer a variety of business workshops and seminars, as well as, one to one counseling sessions to start up businesses that need guidance and support. SCORE also has offices throughout North Carolina and the country.

The SBTDC Online Start Up Resource Guide

The Small Business & Technology Development Center offers a variety of tools and opportunities for startup businesses anywhere in NC. There is a local office in Asheville, NC for startups in Western North Carolina. If you have questions about funding potential, business plans, start up licenses and permits or other business oriented inquiries, you can find a great deal of information on the SBTDC Startup Guide.
On the SBTDC website you will find the SBTDC Start-Up Business & Resource Guide, websites and tools for writing a great business plan, online lists of state and federal resources, including local and state licenses/permits, links with information on how to find funding for your startup business, the Capital Opportunities for Small Business Guide, information on how to  find grants, educational links on how to do market research and more.

There are also seminars and workshops small business and startup business owners can attend to learn more.

Startup business counseling is available, as well as more specific and detailed assistance  for Technology Start Up Companies.

To learn more about bookkeeping and accounting and business start up advice and services visit our website www.WNCSnap.biz.

 




 

Quickbooks Tips – Keeping Your Quickbooks Data Healthy

May 8, 2011

quickbooks financial softwareMaintain a Healthy Quickbooks File – Tips from JustQuickbooks.Blogspot.com

Maintaining accurate healthy financial data in your Quickbooks file is essential in order t keep careful track of your business expenses and profits. On JustQuickbooks.Blogspot.com Shelly Robbins, speaker and Intuit Accounting Professionals Trainer and Writer, explains a variety of Quickbooks tools and features. She recently posted a blog titled:

2 Easy Steps to Maintain a Healthy, Lean, and Fast QuickBooks file

Here she explains that she “recently worked with a client whose QuickBooks reports were running slow, the file had lost data integrity, and upgrading was dicey. Now, the date file is healthy and the reports are running fast again.” She explains why it is important that you make certain  your Quickbooks data is not corrupted or damaged in any way.  Here is what she suggests:

1. Check for file damage, go to File > Utilities > Verify Data. The utility will tell if you the data file is damaged and lead you to the Rebuild utility. Do this repeatedly until the Verify Data tells you that there are no problems with data file integrity. (Verify and rebuild your company file)
2. Check for file fragmentationpress F2. The Product Information window will tell you the “DB File Fragments”.If the DB Fragments are higher than 10, create and restore a portable company file
(Replace your company file with a restored portable company file)

She also mentioned why she agrees with other experts that keeping client’s data file fragments at less than 10 is important.
To learn more about bookkeeping and accounting visit our website www.WNCsnap.biz.
To read more bookkeeping and Quickbooks tips from Shelly Robbins visit her blog JustQuickbooks.Blogspot.com.

Auditing Quickbooks – A How To for Small Business

April 25, 2011

quickbooks financial software Understanding Quickbooks – Bookkeeping Basics

Many small businesses struggle to keep up with the books without even thinking of how much time it will take to  review, evaluate and confirm their bookkeeper or accountants’s work. That is why there are a few basic things any small business owner can review and know in order to be sure their books are accurate and sound. Auditing your Quickbooks file can seem like a daunting task, but if you understand the power of Quickbooks as a tool you can learn to use it to empower and strengthen your business.

NerdEnterprises.com Tutorial on How to Audit Your Quickbooks File Simply and Easily

A great site for anyone looking to learn how to manage their own bookkeeping is NerdEnterprises.com. There are many blogs written about various bookkeeping and accounting topics, as well as video tutorials for various Quickbooks actions and features. The blog titled:

How To Audit Your QuickBooks File – 5 Things EVERY BUSINESS OWNER SHOULD KNOW how to do in QuickBooks is an excellent source of information when it comes to auditing the basic information in your Quickbooks file. According to NerdEnterprises.com when it comes to small businesses “there are 5 things you should know how to do in QuickBooks to be sure your bookkeeper(s) are doing their jobs properly.” NerdEnterprises lists these 5 things as follows:

  1. Run key reports including: detailed Balance Sheets, Accounts Receivable, and Accounts Payable Reports
  2. Drill into a transaction from a report.
  3. Drill around a transaction to see related transactions.
  4. Run the audit trail report
  5. On any transaction detail report, show “Last Entered/Edited (and by whom).

Watch the video included in the blog and find out how to do this in a practical way. The goal according to NerdEnterprises.com is to “protect yourself against costly mistakes as well as dis-honest employees. In smaller companies the management, particularly the ownership ARE the internal control of the company. This means they are the ones who protect the assets of the company.”

Learn how to maintain quality control when it comes to your bookkeeping and accounting. Be able to have a clear conversation with anyone helping you maintain  your financial data and expect them to speak openly, honestly and in detail to you about their work.

To find out more tips and tricks about accounting and bookkeeping for small business visit our website www.WNCSnap.biz.

To find out more great tips from NerdEnterprises.com visit their website and blog.

Bookkeeping Tips: Tax Preparation Checklist

April 1, 2011

It is that time of year again and it is so important to have a plan in place when you file your taxes. You may need to consult with an accountant or bookkeeper. You may need to inquire about which deductions are the most advantageous for your situation. You may need to make sure you are not missing important pieces of paperwork. The simple tax preparation checklist below will get you started and on track.

1. Do you have copies of your W-2’s or 1099’s? There may also be additional paperwork related to investments of any kind that must be filed. If you are not sure ask an expert. .

2. Don’t wait until the last minute to schedule time with your accountant or bookkeeper. This time of year is crazy for people in the financial industry and you will want to make sure they have time to assist you. Last minute pressures can sometimes lead to hasty decisions.

3. Keep up on any tax credits you can take advantage of or ask an expert. New tax bills are always being passed and it can be confusing. The IRS website is a great resource for helping you stay up to date on the current tax laws. Of course there is no substitute for hiring a trustworthy accountant to stay on top of all the details.

4. If you are a W-2 employee there are deductions you can take advantage of. Ask your accountant about these and what you need to do. If you are self-employed there are a wide variety of deductions that can work for you. Be sure and keep all business related receipts and ask your accountant or bookkeeper what expenses can be used as deductions.

5. Compare itemizing your deductions vs. not itemizing them and see which scenario provides the best result for you. Again if you don’t know how to evaluate this then hire an expert.

6. Double check any exemptions you are claiming.

7. Check your eligibility for tax credits such as the child tax credit, adoption credit, education credits, etc.

8. Will you file electronically? Make sure you have everything you need in order to do so.

9. If you are a business or self-employed be prepared to make your tax payments on time.

10. Have a massage or night off planned once your taxes are done! Nothing is complete without a celebration. Enjoy that fact that another year has gone by and you have managed your finances.

Happy tax season!

 

Bean Counter FREE Bookkeeping Tutorial

October 19, 2010

LEARN BOOKKEEPING BASICS FOR FREE ONLINE!

If you are interested in managing your own bookkeeping then you may want to go through the FREE Bookkeeping Tutorial from the Bean Counter website. If you don’t like to read this Tutorial is not for you, but if you are truly interested in understanding the basics of bookkeeping  and learning how to create and maintain your own financial tracking system this Tutorial is detailed, easy to follow and offers a great deal of valuable information.

Click the link below to go to the FREE Tutorial and learn how to mange your own financial tracking:

http://www.dwmbeancounter.com/tutorial/Tutorial.html

Payroll, Payroll Taxes, Payroll Management: Intuit Payroll

September 28, 2010

Payroll Basics for Small Business from Intuit – Financial Tracking Experts

Are you looking to better manage your payroll and spend less time trying to organize employee data, taxes and more? Intuit can help you create financial tracking strategies  and make payroll more efficient and accurate. Click below to find out more about Payroll 101 and find out if Intuit products are right for you. 

Payroll, Payroll Taxes, Payroll Management: Intuit Payroll.

If you are looking for training and consulting when it comes to Intuit products WNC Snap can help! We offer Quickbooks training and consulting, as well as management training to assist with payroll set up, reporting and evaluation in Asheville and throughout Western North Carolina. Contact us today and let us empower you to do business based on sound financial data tat is easy to access at any time.

WNC Snap-we help make your business decisions easier!

Intuit Press Room: Small Business Employment Index Shows Slow Job Growth

September 8, 2010

August 30, 2010 – Intuit Small Business Employment Index Shows Job Growth But at Slower Rate Than Earlier in Year

26,000 Jobs Added in August; Wages and Hours Worked Remained Steady

According to the INTUIT PRESS ROOM, “small business employment grew slightly in August, but at a declining rate compared to healthy gains made in January through April. While job growth slowed, hours worked and compensation per employee remained steady.”

“‘Small business employment grew slightly across many parts of the country,’ said Cameron Schmidt, vice president of Intuit’s Employee Management Solutions division. ‘In states where the Index includes more than 1,000 small firms, New York and Virginia saw the greatest growth, while New Jersey saw the greatest decline in employment.'”

READ MORE

Intuit Press Release 8/24/10: Intuit Websites Help Small Businesses Get Online

September 6, 2010

On August 24, 2010 Intuit posted a press release talking about their new website builder. You can read the full story here: INTUIT PRESS ROOM.

Intuit Websites Helps Small Businesses Get Online and Get Customers

Enhanced Services Increase Visibility Without Breaking the Bank

According to Intuit “What’s more important to finding a business than a street address? A web address. Some 93 percent of U.S. consumers turn to the Internet to find local businesses.”  The new website builder system starts with a free month and then the subscriptions begin at $4.99 a month. The website builders include a variety of useful features:

A new version of Intuit’s do-it-yourself website building tool provides small businesses with the essential tools to get up and running quickly. It lets small business owners customize their websites to reflect the uniqueness of their businesses. Key features include:

  • Custom Design Features: More than 2,000 templates with easy customization
  • Simple, East to Use Tools: Drag-and-drop and easy to follow navigation
  • Social Media Integration: Increase visibility on social networks such as Twitter, Facebook and LinkedIn with “follow me” buttons and a “Facebook Like” button; easily add and manage a blog
  • E-commerce: Create online stores with shopping carts and simple payment options.
  • Browser-based Features: Manage a website anytime, anywhere using Internet Explorer, Firefox and Safari.

Intuit also offers a Weblistings service to improve site SEO (search engine optimization) and an Online Marketing Toolkit to increase online visibility and increase traffic.

There Is No Economic Recovery – Only Transition | FINANCIALSENSE.com

September 1, 2010

After the last few years of economic struggles in America it is essential that as a country and as communities we keep a positive perspective and work together to make America economically string and stable.

Here is a great article by contributing author for FinancialSense.com, Barry Ferguson. He asks us to take a fresh look at the fundamental shift the nation is making and to keep moving forward during this transition.

There Is No Economic Recovery – Only Transition | FINANCIAL SENSE.