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As I mentioned in a previous video, one of the key questions to ask a bookkeeper when you are interviewing them is “What are the core components of a proper bookkeeping process?“ The components are Accounts Receivable, that is money that is due the business.  A/R consists of tracking customers, creating invoices, collecting what is...

This is a great question that I’d like to address with you today. Having a bookkeeper who knows the nuances of your business is critical.  Knowing your industry will ensure the bookkeeper will know what reporting is necessary, how they can record transactions that show the true picture of the business.  This enables the business...

Job descriptions tell you what the knowledge, the skills and the abilities are, which enables you to go out and look at the market. This enables you to compare like jobs with like jobs when you want to determine what you’re going to pay for a particular job. Without a job description, you’re not really...

So many times the business owner runs their business and really doesn’t think about the future. And so it’s important to take time to prepare a business, to allow that owner and their partners to exit the business.  If you’re tracking your finances the right way to start with, you’re going to be able to...

Profitability is defined as the degree to which a business or activity yields profit or financial gain.   I can share with you that for many years, while working for a previous business, that’s just how the owners operated.  They never thought about the future, they just wanted to see money in the bank, that bills...

I have been in the Human Resource field for over 40 years now and have worked with many employment attorneys.  They are a critical part of the organization and I always tell my clients to have a relationship with an employment attorney who they can go to with any concerns they have. Employee handbooks need...

I love shoe boxes. Yes, that’s right and I am not talking about shoes. I’m talking about the vessels some business owners use to keep their business receipts in. If that sounds familiar to you, you need to get someone on board to assist you with getting those documents in order. Many business owners start...

I’d like to briefly speak to you about Financial Statements and why is it important to know your numbers. I have actually presented on a recent Facebook live a three-part segment on the importance of keeping track of your numbers. First, it helps you plan.  And if you are not planning or setting goals, you...

I planned on renovating my home office. In addition to fresh paint and window treatments, I wanted to rearrange the furniture. Having the big bookshelf on the opposite side of the room would look so much better. I laid it all out in my mind and was ready to move forward. But then, I realized...

Payroll taxes are one of the areas that business owners could be liable for if not filed correctly and they would not be protected under corporate/LLC structure. If you are outsourcing your payroll,  you want to be careful who you use.  It is critical that you work with a reputable firm that you know and...