LyfeAccounting

JANUARY 6, 2021

lot of businesses mistake profit and cash flow for being the same thing. I repeat – cash flow is NOT the same thing as profit. Getting this wrong can be the reason your business fails. Because over 90% of businesses fail because they run out of cash, not profit. It is not. I hated it.

CPA 52

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Xero

OCTOBER 23, 2022

The stress of running a small business is a feeling that accountant Stuart Hurst is familiar with. Growing up, he watched his father suffer from the pressures of being in control of the family business’s finances, having no support to help him make sense of them. Humanity is at the centre of my work.”.

accounting and finance 68

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LyfeAccounting

OCTOBER 14, 2020

Today, I’ll be deep-diving into the bookkeeping basics for small business. And by the end of this post, you’ll understand the importance of bookkeeping and how to properly complete your bookkeeping in just a few simple steps. Ready to learn the bookkeeping basics for small business? How can you grow your business?

bookkeeping 52

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xendoo

JULY 26, 2021

Bookkeeping is vital to the success of every business, but business owners rarely have the time (or desire) to manage it themselves. In order to save their time and sanity, many partner with an online bookkeeping and accounting team. How do you choose the right financial partner for your business? Free trial.

bookkeeping services 72

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Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

Tax 52

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ThomsonReuters

OCTOBER 5, 2023

Jump to: What is amortization in accounting? These assets vary depending on the type of business, but they often include such tangibles and intangibles as office buildings, corporate vehicles, computers, patents, copyrights, and trademarks. Some assets will fall under amortization accounting. What are intangible assets?

Account 52

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LyfeAccounting

JANUARY 12, 2021

Today, I will be giving you bookkeeping tips to help you better organize your companies’ finances. If you’re a new business owner or even if you already have a business up and running and want to improve the bookkeeping of your business, then this post is for you! 6 Bookkeeping Tips For Your Business.

bookkeeping 52

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LyfeAccounting

JUNE 30, 2021

Do you need a loan to get your business up and running? About 43% of small businesses applied for business loans last year. 5 Steps On How to Get Approved in Applying for Business Loans. Step 1: Evaluate your credit. But when just starting out, you have little to no business credit.

Real Estate 52

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LyfeAccounting

OCTOBER 19, 2020

In today’s post, I am going to explain a pretty confusing concept in accounting and business. A concept that a lot of entrepreneurs and even accountants have trouble wrapping their heads around. And that is the difference between cash vs accrual accounting. The answer had everything to do with cash vs accrual accounting.

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LyfeAccounting

OCTOBER 20, 2020

But you have absolutely no idea what this means, and if you even need it in your business. Meanwhile, we just helped a client flip a $30,000 net operating loss into a $40,000 net operating profit within just 5-months through our Virtual CFO Services. We wanted to know what she wanted to accomplish in her business.

accounting and finance 52

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LyfeAccounting

OCTOBER 20, 2020

But you have absolutely no idea what this means, and if you even need it in your business. Meanwhile, we just helped a client flip a $30,000 net operating loss into a $40,000 net operating profit within just 5-months through our Virtual CFO Services. We wanted to know what she wanted to accomplish in her business.

accounting and finance 52

accounting and finance financial statements bookkeeping cpas 52

ThomsonReuters

APRIL 18, 2023

The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. What are the current issues in accounting? but there are several common hurdles that often run industry wide.

Account 52

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Menzies

FEBRUARY 13, 2023

Menzies LLP - A leading chartered accountancy firm. Businesses increasingly shop around for their audit services, but a lack of preparation could be preventing them from getting value for money. Failure to apply IFRS 15 properly could lead to a material misstatement of revenue and profit in a business’ financial statements.

audit 10

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Snyder

JUNE 20, 2022

Small business owners often have to deal with every facet of business to ensure its success. It makes sense to delegate some of the management tasks because it’s hard to keep track of everything yourself without hampering your business in the long run. Accounting is the language of numbers.

accounting basics 52

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ThomsonReuters

APRIL 6, 2023

Whether you’re an accountant, a small business owner, or a professional working within an organization, understanding what accounts payable is and how it works is essential. As an important cash flow indicator, accounts payable is a sign of the health of a business.

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Acterys

JUNE 16, 2023

Financial budgeting serves as a critical aspect of business planning, allowing organizations to effectively allocate their financial resources and gain valuable insights into their operations. At its core, a financial budget helps determine your cash flow and make adjustments based on the business plans and market environment.

Finance 130

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inDinero Accounting

DECEMBER 22, 2021

Keeping your finger on the pulse of your company’s finances is crucial to making informed spending decisions. Keeping records is also crucial to protecting your business – especially since the IRS is planning to increase business audits by 50%. What is Enterprise Accounting Software? Clear reporting.

accounting software 52

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inDinero Accounting

DECEMBER 22, 2021

Credit: Austin Distel Keeping your finger on the pulse of your company’s finances is crucial to making informed spending decisions. Keeping records is also crucial to protecting your business – especially since the IRS is planning to increase business audits by 50%. What is Enterprise Accounting Software?

accounting software 52

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Snyder

JUNE 8, 2022

Moving to an e-commerce platform is a growing trend seen throughout the business world. A recent survey conducted by Gartner Analytics showed that 87% of senior business leaders thought their business needed to move online to succeed. . Tip 2 – Integrate all your payment processors into one accounting platform.

E-commerce 52

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LyfeAccounting

JULY 6, 2021

Starting a business from scratch is not the only way to start a business. In fact, in a lot of instances, it is much easier to buy an existing business than starting from ground zero. In this post, we will explain the 6 general steps of buying an existing business and what to look out for when choosing a business to buy.

Non-Profits 52

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ThomsonReuters

APRIL 18, 2023

Financial statements contain critical information about a company’s financial position, cash flows, and results of operations. They paint a picture of the company’s financial position and business performance and help management, investors, and other stakeholders make more informed economic decisions. Who regulates financial reporting?

financial statements 52

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