Management
Understanding Your Profit & Loss Statement (P&L)
When I started my career in accounting, I was an intern for a public accounting firm. I found an issue during one of my audit procedures and took it to...
Your Chart of Accounts Matters
While it may not seem like a significant part of your accounting structure, your chart of accounts is the foundation. Often overlooked, your chart of accounts provides financial clarity in...
Pitfalls of Automated Accounting
With the advancement of AI and technology automation, it’s become easier to manage the accounting and bookkeeping activities in your small business. However, it’s important to understand that you need...
Unveiling the Power of Classes and Locations in QuickBooks Online
QuickBooks Online offers robust tools for managing your business's finances, and among the standout features are "Classes" and "Locations." These two functionalities are invaluable for businesses seeking to gain deeper...
What is A Prepaid Expense?
Prepaid Expense A Prepaid Expense is an expense for something that you have already paid for, but you haven’t yet received the benefit of that expense. For example, if you...
Accounting Treatment of CD’s
With FDIC limits still being a hot topic these days, we’ve seen lots of different tools being used for people and companies to diversify their cash and keep it safe....
Excel: Summing by Colored Cells
We LOVE Excel! And, we love it even more when we find a new way to use it to save time and get us results faster. If you have an...
Cash Flow: A Tale of Two Businesses
Everyone knows cash is king. You’re told time and again. Cash allows you to be nimble. Cash allows you to jump on opportunity. You know you need it for business...
Using Expensify’s Credit Card Feed
Expensify is a tool that many small business owners use to manage their expenses and receipts. One way to make it more valuable is to set it up to pull...
Top 5 Items to Review in Your Financial Statements
Having accurate financial statements is key to running a successful business. If you go to the bank for financing, your banker is going to want to see quality financials that...