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  • 5 Bookkeeping Tips For Small Business Owners

    • April 4, 2019
    • Posted by: Asif Rahemtulla
    • Category: Accounting, Bookkeeping, Uncategorized
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    No matter the size of your business, it’s imperative that it has a strong grasp of bookkeeping. Bookkeeping, of course, is the practice of recording all of the financial transactions that take place within a company. We’re talking about all purchases, sales, receipts, payments and any other transaction that could be considered either an earning or an expense for the business.

    Naturally, there are many benefits to having a solid bookkeeping system. Not only does it give you a clear and honest perspective of your company’s financial viability, it also gets you well prepared for tax season. As you know, it’s tax season right now! Here’s hoping you’ve been able to practice some good bookkeeping techniques in order to adequately prepare your tax accountant.

    Here are five top bookkeeping tips for small business owners:

    1. Separate your personal finances from your business finances.

    It should go without saying, but be sure to separate your personal and business finances. It all starts with your bank accounts. You should already have a business account that’s separate from your personal bank account. This includes having two different bank cards which should be used appropriately. All business expenses go on one card while the … Read the rest

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  • Four Things to Consider Before Starting a Business

    • April 28, 2018
    • Posted by: Asif Rahemtulla
    • Category: Bookkeeping, Business
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    You have talent and a great idea. Now you’re ready to start your own business. Congratulations! There are a lot of great reasons to be your own boss, including making your own schedule, designing your own business plans, and expanding at a comfortable pace.

    Before you get ready to open your doors, however, you need to make sure you’ve thought through all the logistics that new business ownership brings.

    1 / Fees

    Starting up a business comes with some fees that you need to factor into your budget. Things like registering your business with the government, obtaining a local business license, website development and hosting fees, monthly bank account and credit card charges, and leasing physical storefront space all come with associated costs. It’s important to be aware all your start-up and recurring fees, so that you aren’t taken by surprise.

    2 / Accounts and Credit

    It makes life so much easier if you have separate bank accounts and credit cards for your business. Using your personal accounts for business purposes (which is a BIG NO-NO) muddies the waters and can create an audit nightmare. Many banks have low fees for small businesses or entrepreneurs, and the hassle it will … Read the rest

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  • A Fruitful Retirement: Social Security Benefit

    • April 2, 2018
    • Posted by: Asif Rahemtulla
    • Category: Bookkeeping
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  • Why You Should Use the Cloud for Your Bookkeeping

    • January 5, 2018
    • Posted by: jKk0R2ucBD
    • Category: Bookkeeping
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    Keeping your books up to date can be a full-time job!  Having accurate, recent records does make your life (and your taxes!) so much easier, so having a clear bookkeeping plan is imperative for your small business.  These days, cloud bookkeeping services and software is widely available, and the benefits to doing business this way are extensive.

    Let’s break down all the reasons you should be using the cloud for your bookkeeping needs.

    What is the cloud?

    Let’s start with the basics—what is the cloud and why should you like it?  The cloud is virtual storage.  Companies keep big data warehouses with servers, and information is sent to these servers via the internet for centralized storage.  And while that may sound scary, cloud servers are secure.  They are encrypted, along with other steps that IT security professionals take to make sure your information stays only with you.  In fact, cloud storage is one of the most secure ways to keep information! Secure cloud storage provides a superior experience over local storage.

    It’s cheaper.

    Most cloud bookkeeping services come with a small monthly fee, customizable to your size and needs.  Some services are even free, if you only need the very … Read the rest

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