In double-entry accounting, debits (dr) record all of the money flowing into an account. So, if your business were to take out a $5,000 small business loan, the cash you receive from that loan would be recorded as a debit in your cash, or assets, account. The left column is for debit (Dr) entries, while […]

As far as limitations go, there are a few, starting with the fact that certain assets may not show up on a balance sheet. For example, it may be difficult to assign a dollar value to the expertise and knowledge that a company’s CEO brings to the table. Likewise, the value of a brand can […]

Some firms still rely on manual methods, others use spreadsheets, and many have transitioned to full accounting software. At this stage, it’s common to encounter transactions that aren’t clearly categorized, especially if clients provide incomplete descriptions or forward bank feeds without context. Leaving these as uncategorized transactions can cause reporting errors, delay reconciliations, and impact […]

Streamlining your operations can help reduce costs and improve efficiency. Because greater efficiency has a direct correlation to your company’s throughput, it can really benefit your bottom line. Evaluate your current processes and look for areas where you can eliminate waste, automate repetitive tasks and optimize resource allocation. Market Conditions You can increase sales and […]

Unfortunately, many business owners simply don’t realize that pricing is, in fact, THE most vital component when it comes to making money. Periodically, you might need to re-evaluate your prices, as your business grows and its overhead expenses expand, too. By calculating your business profit margin, you can determine how much you have to spend for every dollar […]

Truthfully, practicing corporate social responsibility (CSR) can positively affect the bottom line. We’ll show you how to balance these two crucial Oil And Gas Accounting tenets of business success. Angela has used and tested various accounting software packages; she is Xero certified and a QuickBooks ProAdvisor. Four Ways To Quickly Increase Profits In common parlance, […]

These are free, information-packed downloadable special reports, white papers or checklists that can be downloaded for free by filling out a form. It just has to be informative and promoted with an attention-getting headline. Promote the giveaway on your website and through how to measure social media effectiveness and require the downloader, at minimum, to […]

Bookkeepers keep accurate, comprehensive records of the money that flows in and out of your business. This can show you where you’re spending money and what services or products are generating the most revenue. This information is vital to financial health, fuels sound business decisions, and leads to winning strategies. Key Responsibilities Activity based costing, […]

The MICR line, typically found at the bottom of a check, contains important information such as the routing number, account number, and check number, all printed using a special magnetic ink. This allows automated systems at banks to quickly and accurately read the information, expediting the check processing workflow. Additionally, think about the longevity and […]

When it comes to service models, you’ll find options ranging from self-service platforms (where you maintain control while using sophisticated tools) to fully dedicated bookkeepers who handle everything for you. Your choice often depends on your comfort level with financial matters, how much time you’re willing to invest, and how much assistance you can afford. […]