The start of a new year creates the perfect time to revisit old business strategies from last year so you can maximize your revenue for 2020. If your financial numbers were fantastic this year, that’s great! Keep the strategies that worked for you and cut the ones that didn’t. Whether your numbers were amazing, not…
Do your eyes glaze over when presented with financial statements? If so, you’re not alone. Many entrepreneurs benefit from seeing their financial results in graphic and chart formats. Your favorite Orange County bookkeepers have recognized that it is sometimes easier to view your financial position with colorful bars and graphs instead of viewing the typical…
A great way to make a wonderful start to 2020 is to wrap up 2019 feeling organized and on top of the world. Below is a checklist of items that you can start on now to make your year-end close go smoother than ever before. And don’t worry if you don’t know how to do…
Congratulations, you have landed a new customer! In this particular climate, sparking fresh interest in any business can be challenging. Yet, you did it. Now comes the next part: What to do after you have officially landed that customer. Below is an essential to-do list from Your Favorite Orange County Bookkeepers that will not only…
Custom fields in your accounting software are data fields that you can define yourself. They are typically associated with customers, vendors, employees, and items. Custom fields can help you store and classify additional information about these categorizes within your business. Custom fields add functionality to your accounting system. Below is a list of practical uses…
Does your business ask customers for their credit card number at any time during the sales process? If so, it is essential to honor the privacy of customers’ private information and to stay compliant with Payment Card Industry rules. Every business that has an account with a merchant services vendor is required to follow PCI…
When you pay a bill, are you 100% comfortable that the bill payment is correct and justified? Is there a chance that the bill is fake or fraudulent? What about duplicates? With so many fake bills being mailed to businesses these days, it is wise to think about putting rules into place. This will reduce…
One of the most important parts of managing a business is making sure there is enough cash to keep the business running. As a business owner, you probably have an idea how much cash is in the bank at any time. The smaller your business, the more likely you are to keep an eye on…
Each month, your accounting system yields actionable information for you to run your business better. Here are some key reports that all business owners should review every month. 1. Balance Sheet Reviewing the balance sheet can tell you balances of your current assets and current liabilities. Current assets should always be larger than current liabilities.…
As an entrepreneur, you likely place a high value on freedom. When the word “budget” is mentioned, you may feel like it hampers your freedom. But it’s really the opposite; Here’s why: According to a 2019 article in Small Business Trends, “Startup Statistics – The Numbers You Need to Know,” 82% of businesses that fail,…