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The 5 Most Common Small Business Accounting Mistakes

VetCPA

Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Recording everything is an excellent rule to follow for bookkeeping and accounting for a small business.

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3 Holiday Tips for Small Business Accounting

Basis 365

Holiday accounting requires special preparation. Every business was busy Other than us. This time of year is a great time for retailers, but it can also be slow for service businesses. These are three small business accounting tips that will help you get through.

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5 Small Business Accounting Trends for 2023

Basis 365

Technology is constantly evolving, so there are many small business accounting trends. Accountants must understand how to make the most of these new trends to provide clients with the best possible services. How many accounting firms are now automated?

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Small Business Accounting Software: A Skagit County Owner’s Guide

SkagitCountyTaxServices

For as long as trade has existed, so has accounting. And it wasn’t THAT long ago that electronic spreadsheets were considered “a big advancement” in accounting technology. Businesses put away those old ledger books and took to smudge-free financial data entry.

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The Essential Small Business Accounting Services’ Guide to QuickBooks

IgniteSpot

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Small Business Accounting Tips: How to Improve Your Workflows

Accounting Seed

Business workflows are like computer code for people. Good accounting workflows turn bookkeeping into a routine task that doesn’t require consistent re-planning and thought. What are Accounting Workflows? Accounting workflows are procedures for managing a company’s finances.

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Small Business Accountants: Should You Talk to Clients About a Retirement Savings Plan?

Patriot Software

According to a May 2022 report from the Center for Retirement Research at Boston College, only 48% of small businesses with fewer than 50 employees offer a retirement plan. Accountant Professional

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Small Business Accounting Software FreshBooks Rolls Out In UK

PYMNTS

With a continuation of its global expansion, small business accounting software maker FreshBooks has rolled out in the United Kingdom. The firm is also rolling out a new set of functions geared toward Biritsh business needs, Accounting Today reported.

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The Professional Association of Small Business Accountants Holds 16th Annual Awards Ceremony and Honors Six Members

Steve Feinberg

We’ve always been proud of the work we do at Appletree Business Services , from bookkeeping to payroll and tax-keeping packages, but it’s also satisfying to hear that your work has been recognized by some of the luminaries in your field.

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Inflation makes it seem small businesses are growing, but report says otherwise

Accounting Today

Xero Accounting Small business accounting software Technology Small business banking

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Become a Member of PASBA to Enjoy These Benefits

PASBA

Are you a public accountant, certified public accountant, or enrolled agent who would like to earn more business, learn new skills, and connect with fellow accounting professionals? If so, we invite you to learn more about the many benefits of joining the Professional Accounting Small Business Administration (PASBA). At PASBA, it’s our goal to transform the way our members think about their role as an accountant.

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Can Accounting Reports Really Be Beautiful?

DuctTapeMarketing

Consulting Business. Small Business Finances. Can Accounting Reports Really Be Beautiful? Can Accounting Reports Really Be Beautiful? As a small business owner, what is more rewarding than focusing on the area of your business that you are most passionate about? To invest your uninterrupted attention in doing the things that pushed you to start your own business in the first place?  Services Online Audit. Strategy First.

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Small Business Tax Deductions for 2021

xendoo

Tax season feels particularly overwhelming for small business owners. In this blog post, we will share popular small business tax deductions that you may be able to claim for the 2021 tax year! Business Travel Expenses . Business Use of Your Car.

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5 Financial Metrics and KPIs to Help Your Business Grow

AccountingDepartment

As a business owner, there are many different metrics and KPIs out there for you to follow that can give you insight into your company's current standings, along with assistance when it comes to future planning and goal setting.

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Insights from the AICPA Engage 2021 Conference

AccountingDepartment

Small Business Advice and Tips accounting strategies small business bookkeeping accounting software small business tips accounting small business accounting tips accounting trends budget dashboard budgeting reports budgeting aicpa jirav engage 2021 forecasting

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Surviving a Cash Flow Shortage

AccountingDepartment

If you have a cash shortage with your business, it is important to have a strategic plan to survive and reverse the shortage. Keep in mind that over 80% of businesses fail due to a cash flow shortage crisis, so putting some of these tips in action may protect you in the long run!

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The Ultimate Guide to Finding the Perfect Outsourced Accounting and Bookkeeping Service

AccountingDepartment

Continue reading for help with this ultimate guide for finding the perfect outsourced accounting and bookkeeping services provider.

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Everything you need to know about Account Reconciliation

AccountingDepartment

Entrepreneurs, small business owners, and CEOs of large corporations are all responsible for monitoring an organization's financial health. And, at the end of the day, it's a business leader's responsibility to ensure all accounts are balanced and accurate.

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How to Help Your Clients Gain Control of Their Cash Flow

PASBA

According to a recent study by US Bank, poor cash flow management is the reason for business failure more than 80 percent of the time, and it’s especially common with small businesses. That means there’s a good chance your clients may feel desperate for help when they visit your accounting practice. Some small business owners have no idea how much money leaves their company.

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Basic Financial Statements That Anyone Should Know

AccountingDepartment

Although individual financial statements each provide different snapshots of financial health, all financial reports reflect business activities that produce a company's profit or loss.

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How to Repurpose Video Content into Blog Posts, Social Media, and More

Summit CPA

As a business owner, you know that creating a valuable, educational, and impactful content plan places you directly in front of your audience if executed well. Business Advisory Virtual CFO Creative Agency Small Business Accounting Virtual CPA Business Owner

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Demand is Increasing for Accountants to Help with Human Resources Issues

PASBA

Today’s small business owner faces a significantly greater challenge in managing human resources regulations at the federal and state levels along with increased regulation in all aspects of their business. Accounting firms that can assist their clients with managing human capital and financial concerns at the same time can truly stand out from the competition. Clients Already Trust Their Accountants.

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How to Stay Profitable With an All-Remote Team

PASBA

Onboarding is a crucial part of our business. Spend as much time vetting new hires as you do searching for new business. These great resources are provided by our partners at Jetpack Workflow, the leading workflow software provider for accountants and bookkeepers. With so many people working from home right now, here are some valuable tips for making the most of this situation for your firm and your clients. Customer experience is everything.

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The Four Most Important Financial Statements for Your Business

AccountingDepartment

As a business owner or manager, you likely spend some time generating and analyzing financial statements. Some financial statements are essential to understanding the financial health of a business while others are less significant.

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PR Dispatch’s founder on how the platform is giving small businesses a voice

Xero

Every business, regardless of size, needs a voice. . But smaller businesses find it harder to get out and promote their brands and services. A few days later I got responses and thought, this is incredible – this is how businesses gain awareness.”. Starting small.

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What are Days Sales Outstanding and How Can You Reduce Them?

AccountingDepartment

Day sales outstanding (DSO) is the term used to measure how much time it takes for a business to get paid for a product or service. The goal of a business is to keep the DSO as low as possible.

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Business Liabilities Explained

AccountingDepartment

Business liabilities are best defined as the financial obligations or responsibilities of a business. In short, liability is almost always necessary for a business to excel. So don’t misconstrue business liabilities with legal liabilities.

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Understanding Inventory Assets

AccountingDepartment

An inventory asset is a product that a business has to sell. And if a business is a manufacturer, all of the materials used to make that product are considered inventory. Inventory assets are found in the assets section of the business's balance sheets.

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How to Set Up Accounting for a New Business: A Full Guide

xendoo

If you are reading this, then it probably means you’ve just launched or intend to start a new business in the near future. As you try to figure out which need to prioritize in your new venture, it is crucial that you first learn how to set up accounting for a new business.

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How Auto Collision Repair Shops Can Avoid A Cash Flow Wreck

PYMNTS

Cash flow management remains a major headache for small companies of all kinds, preventing many firms from making payroll, paying bills or even staying in business. Cash flow management continues to be a major pain point for small businesses of all kinds.

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Large Corporates Find Value In Bank-FinTech Connectivity Too

PYMNTS

Small businesses are a growing target for bank-FinTech collaborations and data integration initiatives as financial service providers explore new use cases for open banking.

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Why and How to Transition from a Sole Proprietorship to a Corporation

Ronika Khanna CPA,CA

When starting your new business , it often makes sense to choose the simplest structure which is the sole proprietorship. Alternatively, a customer or client might only do business with a corporation. Planning to incorporate your business?

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Bringing The eCommerce Business Model To SMB Accounting

PYMNTS

Two years ago, Singapore launched its SMEs Go Digital campaign, a government effort to enable small businesses to modernize and embrace the cloud that continues today. A New Model For Accounting.

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What 2020 Has Taught Us About Business Resiliency

SingleTrackAccounting

For the majority of small businesses, this year has been a tough one. When we look back to February when all this began, business was popping like a bottle of champagne after an amazing powder day on the mountain. Was your business prepared?

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Telleroo Integrates B2B Payments Function For SMB Accountants

PYMNTS

based FinTech specializing in facilitating payments for small business accountancy firms, is partnering with BIN (bank account identification number) sponsor Moorwand to further streamline the payments experience for accountants and bookkeepers. Telleroo , a U.K.-based

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Sage Updates Will Boost SMB Accounting Visibility

PYMNTS

Cloud business management firm Sage has announced new updates to its small business cloud accounting solution to help customers gain more insight into their accounting, payroll and HR data.

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The Waterfall Effects Of Integrated SMB Accounting

PYMNTS

Automation in small business accounting can certainly be beneficial, but when a cloud-based accounting platform remains within the confines of its own interface, there can be unexpected friction that prevents business owners from gaining real-time financial insights.

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Accountants May Be Bucking The Innovation-Averse Trend

PYMNTS

The future of the corporate accountant is in flux. FinTechs are developing ways to automate accounting tasks, forcing human accountants to provide more strategic, value-added services. At the same time, an influx in the variety of financial management solutions for large and small businesses has some companies looking beyond the corporate accountant. That doesn’t mean corporate accountants are jumping ship, however.

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Avoid the Pitfalls of DIY Accounting

SingleTrackAccounting

You are running your business and doing a great job at staying on top of your bookkeeping, not to mention you are saving money by not hiring help. As a busy business owner, this is the last thing you want to be spending your precious time doing. Working on growing your business?

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Data Hurdles Keep Accountants From Elevating Their Role

PYMNTS

With more organizations embracing FinTech in the back office, businesses are increasingly aware of the importance of data integration between various portals. ” Supporting an Accounting Shift. ” Those are small data hiccups with the potential for damaging consequences.

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VCs Back FinTechs That Help Other Firms Manage Money

PYMNTS

With more than $89 million raised, B2B FinTechs this week impressed venture capitalists (VCs) with a range of services, including small business accounting, financing, spend management and payroll. Small business accounting startup Xendoo announced a $3.5

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PwC’s Xero Accounting Partnership Goes Global

PYMNTS

Corporate audit and accounting company PwC is expanding its existing collaboration with small business cloud accounting company Xero. Their expanded deal will focus on bridging small and medium-sized businesses (SMBs) in the U.S., Asia and Europe to Xero’s cloud accounting technologies. In a statement, Xero Chief Product Officer Anna Curzon pointed to the limited adoption of cloud adoption within the small business community.

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H&R Block Acquires SMB Finance Platform Wave

PYMNTS

Consumer tax solutions provider H&R Block is ramping up its position in the small business financial services market with the takeover of Wave. In a deal announced Tuesday (June 11), H&R Block has acquired Wave Financial, a small business FinTech firm offering accounting, payroll, invoicing, payments and bookkeeping services. B2B Payments B2B H&R Block M&A News payroll small business accounting Wave Financial What's Hot In B2B