Benefits of Updated Bookkeeping

Benefits of Updated Bookkeeping

— 3 Major Benefits of Updated Bookkeeping and Accounting Records Knowing your company’s financial picture is key to success. A simple ratio such as your operating expense ratio (OER) can help you avoid serious problems down the road. But, to see any trends...
MarketWatch Report on new IRS Regulations

MarketWatch Report on new IRS Regulations

MarketWatch Article about new IRS regulations affecting Pass-Through business entities.   According to this article by BILL BISCHOFF over at MarketWatch, the IRS has issued new regulations affecting pass through small businesses. Read Here The IRS has issued...
The Accountant

The Accountant

Accounting for small businesses is an important function that should not get overlooked. The accounting function encompasses three broad categories of necessary tasks: Recording the financial transactions ie: Bookkeeping. Classifying these transactions: Current Assets...
Importance of Record Keeping

Importance of Record Keeping

Do you know the importance of keeping good business financial records? The first one that might come to mind is to make the annual income tax reporting process go as smooth as possible. That is certainly a very good reason to keep the company bookkeeping records...
Double Entry Bookkeeping

Double Entry Bookkeeping

Single Vs. Double Entry Bookkeeping Most people have used a check register to track their checking or savings account transactions, both deposits and withdrawals. Your checking account register is the best example of a single-entry bookkeeping system. You track your...
P&L Accounting Margins

P&L Accounting Margins

Here are 2 Income Statement (P&L) Accounting Margins For Small Business Owners Profit & Loss (P&L) Statement Margins: Gross Profit Margin (GPM) = Gross Profit (GP) / Revenue GPM is a metric telling a business what the ratio of Revenue minus COGS (Cost of...