Tools for Business Owners

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...
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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...
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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...
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Top 5 Year-End Accounting Tips

With the end of year approaching, it’s important to ensure your accounting records are in order to avoid unnecessary work and stress, during an already busy time of year!  ...
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Decoding Key Accounting Terms Every Business Owner Should Know

Navigating the financial aspects of your business can be challenging, but understanding essential accounting terminology is a crucial step toward financial success. Here, we break down some key terms that...
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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...
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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....
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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...
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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...
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Beware of Third Parties Selling You The Employee Retention Tax Credit

What is ERC? The Employee Retention Credit (ERC) has been a hot topic since 2020, when the Coronavirus pandemic changed the world.  The credit was implemented to aid companies in...
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