In a previous business of mine, we had a lot of clients that were real estate investors. They came to us looking for credit so they could put money down on their next property or have some working capital for their current projects. It became very apparent real quickly that most of them were “spending [...]
Before you being keeping “the books”, There’s a few things that you need to understand. I promise it’s not that difficult.
Here’s the first lesson.
There are two different methods of accounting for a company’s transactions: Cash and Accrual. You might have heard them referred to as Cash Basis or Accrual Basis. The [...]
As promised, here is an expample of a business (actually 2 businesses) that didn’t take the time to update their accounting records.
This is a repeat post…
It only takes 30 minutes to 1 hour a day MAX, for most small business owners, to update their accounting records. This pre-selected time will ensure you have accurate records [...]
Whether you want to admit it or not, every entrepreneur needs to learn some basic accounting procedures.
Here’s why…
Accounting can be seen from 2 different views. The first is from the eyes of the non-accountant. Words that enter their minds are boring, mundane, an expense, required, structured, records, paperwork, confusing, taxes, CPA’s, nerds (I can say [...]
Tax time is just around the corner and the last thing anyone wants to do is reconcile 12 bank statements the second week of April. The best way to avoid this common practice is to KEEP UP!
It only takes 30 minutes to 1 hour a day MAX, for most small business owners, to update [...]
