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Accounting and Budgeting

11 Posts tagged with the accounting tag
When is the Right Time to Bring Financial Experts on Staff?
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Posted by: SBOC Team, Feb 23, 2012

by Susan Caminiti. One of the distinguishing characteristics of nearly all entrepreneurs is the passion they bring to their businesses. But whether you’re a skilled butcher, a terrific baker, or the best candlestick maker in town, there are functions of your company that you’ll need help with. And there’s no aspect of running a small business where this is more apparent than your finances. “Money is so personal and that makes many entrepreneurs more skittish about handing over control,”...
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Looking Back, Leaning Forward: How an End-of-Year Budget Review Can Pay Dividends In 2012
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Posted by: SBOC Team, Jan 4, 2012

Out with the old, in with the new—It’s time to examine the past year’s results and craft a fresh budget for the year ahead. “In January, we look at the products or services where we spend our time and from that review we make decisions,” says Lisa Crisalle, who, with husband Lucho, owns Exercise and Nutrition Works, a nutrition certification program in the sports and fitness industry. At the beginning of 2011, the couple made a profitable discovery—the online segment of their business had...
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Avoiding the Profit/Loss Blues
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Posted by: SBOC Team, May 25, 2011

How small businesses can watch their bottom line more closely by Christopher Freeburn Small business owners quickly learn about the necessity, particularly in this economy, of having a well thought-out business plan, doing the right amount of market research, and keeping excellent records. Good bookkeeping and adherence to proper account forms and standards often distinguish small businesses that succeed from those that fail. Part of the importance of maintaining good financial records...
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Small business payment options: Smarter ways to get paid
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Posted by: SBOC Team, May 23, 2011

Small businesses have gone through quite an evolution when it comes to payment methods they accept. Gone is the cash-only small business. Even sandwich trucks and garment district clothing outlets have embraced the electronic age. Point-of-sale retail locations are increasingly moving toward the latest technologies that allow credit card readers to be plugged into smart phones. And, if you’re doing business on the Internet, online payments and shopping cart services have become de rigeur....
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Outsourcing payroll. Is it right for your small business?
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Posted by: SBOCTeam-KhWmv, Sep 7, 2010

If you find that processing payroll is becoming an increasingly burdensome task, it may be time to turn to one of the many payroll firms eager to do it for you By Christopher Freeburn One of the greatest burdens faced by small business owners is dealing with the voluminous amount of paperwork generated by their businesses. Even small businesses with just a handful of employees create enough paperwork to inspire dread in the most ambitious entrepreneurs. One of the most vexing sources of this...
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How do I pay my small business’s bills?  Part 1: Checks
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Posted by: SBOCTeam-KhWmv, Aug 3, 2010

In this three-part series, we describe the primary methods a small business can use to pay its bills and examine the advantages and disadvantages of each Part I: Checks By Christopher Freeburn Paying the bills doesn't make anyone's list of favorite things to do. But, like it or not, bills come due and must be paid. No one knows that better than small business owners, who face a myriad of bills every month, ranging from office supplies and equipment leases to office rent, insurance, and...
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Start-Up Series: Hiring a Bookkeeper or Accountant
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Posted by: SBOCTeam-KhWmv, Mar 2, 2010

When should my small business hire a bookkeeper or accountant? By Reed Richardson Every company, whether it's a part-time, home-based sole proprietorship or a multinational Fortune 500 corporation, shares something with all the others: a need to manage the money coming in and out of its coffers. For entrepreneurs, this responsibility, like many others, often falls upon their own shoulders. But being one's own bookkeeper or tax preparer is, at best, a temporary or stopgap solution, and, at...
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What’s the Best Way to Pay My Bills?
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Posted by: SBOCTeam-KhWmv, Dec 2, 2008

Part 1: Checks By Christopher Freeburn Paying the bills doesn't make anyone's list of favorite things to do. But, like it or not, bills come due and must be paid. No one knows that better than small business owners, who face a myriad of bills every month, ranging from office supplies and equipment leases to office rent, insurance, and marketing services. Small business owners not only have to pay their bills, but do so in a way that lets them best manage their company's cash flow,...
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Cash Flow and Accounting
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Posted by: SBOCTeam-KhWmv, Nov 6, 2008

by MOBI.1 Cash fuel drives you in business just as jet fuel keeps a plane aloft. A pilot is very careful to accurately predict the fuel requirements. You should place the same importance on cash flow control because if, at any point in the future, you run out of fuel, like the pilot, you've got a BIG problem. Cash flow control is a simple method of projecting your future needs for cash. It is an income statement covering future periods of time that has been changed to show only cash: cash...
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Protecting Your Company Against Embezzlement
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Posted by: SBOCTeam-KhWmv, Nov 29, 2007

When most people think of the term embezzlement, what often comes to mind are unscrupulous money manager's at large corporations who take millions of dollars through scams and fraud. However, embezzlement can and does happen even at the smallest of firms. The employee that manages payroll and cuts themselves an extra paycheck, or the employee that manages accounts payable and makes a payment to a "mystery firm", even the employee who handles petty cash and uses a few bucks without authorization...
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Accountant in a Box
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Posted by: SBOCTeam-KhWmv, Nov 15, 2007

The most popular accounting software packages allow small business owners to handle their routine accounting tasks with ease By Morin Bishop Small business owners are accustomed to doing everything themselves, including keeping the books. But prior to personal computers, small business owners with no background in accounting needed to hire someone to put together proper income statements, ledgers, balance sheets, and tax forms. Fortunately, today there is a wide array of software applications...
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