In accounting, a key term to know is “internal control.” Internal control is the series of processes and procedures that are performed within the organization to ensure the integrity and accuracy of the financial information and reporting of that organization. Internal control is very important to consider in order to protect the business owners, employees,…
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We’ve been in a pandemic for what seems like five years now, right? All joking aside, if you have been lucky enough to work from home this past year, then it’s possible that you are in the process of going stir-crazy. Or maybe you’re simply ready to shake things up a bit. Working from home…
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Do you have a lot of customer service inquiries in your business? If so, it can be a challenge to manage them all. Being responsive with customer service can make all the difference in your company’s success. It is necessary to take a look at some tools that can streamline your processes. The most common…
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Many small business owners focus on generating more revenue every year, and that’s a wonderful goal. But not all revenue is created equally. Some items are more profitable than others. If you sell more than one product or service in your business, then you may benefit from looking at your revenue mix. A revenue mix…
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Why is independence important in the accounting world? Your Favorite Orange County Bookkeepers expand on what autonomy looks like in accounting and why it is important. While Team One Accounting does not provide the CPA services described below, we are presenting this helpful information to further our quest to be a favorable resource for business…
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If you keep any kind of digital information in your business, you have a chance of becoming a victim of a cybercrime. The odds have increased exponentially during the pandemic, with more cyberthreats and scams floating around than ever before. Below are some useful tips to reduce your chances of getting attacked from your favorite…
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A great way to start 2021 is to take a fresh look at your business finances. 2020 brought us innumerable changes and if you are in the habit of spending on the same items year after year, now is the perfect time to decide what is essential and what can go. There are only a…
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The Consolidated Appropriations Act, 2021 (CAA 2021) became law on December 27, 2020, and among many other things, provided for a second round of potentially forgivable Paycheck Protection Program loans to small businesses that were financially impacted by the effects of the pandemic. The Act not only provides funds and guidelines for a round two…
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Year-end is the perfect time to reflect on accomplishments achieved since January. It’s also an important time to put things into perspective as we turn the page and start a new year. What We Learned With so much change in 2020, the opportunities to learn have been abundant. Take a moment and contemplate the following:…
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Now, more than ever before, the act of listening is important. Not only is it important to listen to someone, but to effectively listen to them. Sure, we all know that in order to understand individuals, to connect with them and understand their wants and needs, we need to be alert, focused, and mindful. After…
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