Posts Tagged ‘bookkeeper’

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.

 

 

 

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: Commmon Tax Questions

March 25, 2011

Every year tax questions pile up, not only for individuals but also for businesses. It is essential that you complete thorough research and if necessary consult an expert, such as a bookkeeper or accountant.

The IRS website provides a list of frequently asked questions for anyone to review and use as a guideline when working on personal or business taxes.

FAQs from the IRS

Find answers to the following questions:

What are the tax changes for this year?
What are itemized and standard deductions?
How to manage Social Security Income?
What are child care credits?
Earned Income Tax Credits explained.
Information on IRAs.
Electronic filing how to’s.

 

Common Bookkeeping Mistakes Small Businesses Make

January 25, 2011

wn snap bookkeeping services asheville In an article on AllBusiness.com entitled Top 10 Bookkeeping Mistakes Made by Small Businesses some common issues are discussed. As many of us are aware small businesses are always looking for ways to save money, increase efficiency and improve profitability and performance. It is not surprising that so many small businesses often forget to keep receipts on every business related transaction, take on too many tasks themselves, and sometimes don’t communicate clearly because of their busy schedule. Some more specific mistakes you want to avoid  are:

-Listing transactions in the wrong categories on QB.
-Not having a backup system for QB files.
-Forgetting to track reimbursable expenses.
-Not properly classifying employees.
-Not properly reconciling the QB files with monthly bank statements.

These are just a few of the things you should be careful of when managing your own financial tracking and bookkeeping.

To learn more about how to keep from making common mistakes check out this great bookkeeping and financial tracking article on AllBusiness.com.

Don’t miss Quickbooks News on Twitter

August 2, 2010

If you are looking for a fast and easy way to get answers to your Quickboooks questions make sure you follow @QuickbooksNews on Twitter. Keep up with all the latest news and find out about new versions of Quickbooks and other complimentary financial tracking and bookkeeping tools.