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,”...

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...

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...

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...

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...

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...