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…
One of the best tools to forecast cash requirements is the 13-week cash flow forecast. It can help a business owner predict what their cash balance will be 13 weeks in the future. It helps to answer whether there will be enough cash to cover payroll and bills for a particular week. If you are…
Paying bills is never fun,but paying bills that you should not pay in the first place is even worse. There are many risks that can part a small business owner with their hard-earned cash. Your favorite Orange County bookkeepers have listed five common mistakes to watch out for when it comes to your bill-paying process.…
To maximize profits in your business, all of your business functions need to run smoothly, including your accounting department. Your accounting system is at the core of your accounting function. If it is old or lacks the features you need, your business may suffer. Here are five warning signs you can look for to determine…
That’s right: The future is here! Now that it is officially 2020, it may be time to jump on that accounting app bandwagon if you haven’t already done so. The exciting news is you can actually do many of your accounting tasks from your phone instead of your computer. Below are a few examples of…
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…
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…