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Form 1099 Complete Guide for small business owners | How to File 1099 | 1099-misc | Tentho

QUICK CHAT: Form 1099 Overview for Small Business Owners

The 1099 time of the year is upon us. If you are looking for quick answers on what you should know about the 2023 1099 form process, check out our quick chat which outlined: What is a form 1099, who needs it and why? Who is excluded from the requirements of receiving a 1099? What are some of the most common mistakes business owners make around 1099 forms? What’s a 1099-misc and whats a 1099-nec?
Experts advice from a financial expert.

Small Business Balanve Sheet | Tentho

Small Business Balance Sheet Overview

Running a small business is tough enough without having to worry about whether or not your balance sheet is in order. But keeping on top of your finances and bookkeeping is essential to the success of your business. In this blog post, we’ll give you a crash course in understanding balance sheets for small businesses, including what goes into them and how to interpret them. With this knowledge under your belt, you can confidently keep track of your business’s financial health and make informed decisions about its future.

Hiring Tentho vs. in-house finance team.

As the administrator of a private school, you know that every dollar counts when it comes to maintaining a balanced budget. You need to be able to trust that your school’s financial needs are being managed by a team of professionals who have your best interests at heart. But you often wonder, is it a better choice to outsource your financial needs to a team of professionals, or hire that team in-house?

Here are the top 4 reasons why outsourcing to Tentho is a smart choice for your private school:

Why NetSuite Financials for Small Businesses makes sense

Why NetSuite financials for Small Businesses makes sense

If you’re a small business owner, you understand the importance of financial management. But what if you don’t have the time or resources to invest in complex accounting software? NetSuite offers a solution with its cloud-based financial management tools. In this blog post, we’ll explore how NetSuite can help streamline your financial processes and save you time and money.

5 Tips to Help Your E-commerce Business Prepare for the Holiday Shopping Season

Every year, businesses in the e-commerce world, face heightened sales during the final months of the year. With holiday-related gift-giving in full swing, this is a great time for many businesses to earn a large bulk of their revenue. Part of having a successful Q4 is planning ahead to utilize end-of-the-year accounting strategies and tactics that can help your company to have a prosperous holiday season. This post will highlight five best practices e-commerce companies can utilize to make the influx of holiday consumer purchases easier to navigate from an accounting perspective. 

Hurricane Recovery: A How-To Guide for Small Business Owners

Hurricane Recovery: A How-To Guide for Small Business Owners

If you’re a small business owner in the state of Florida who has been impacted by hurricane Ian, this post is for you. Here, we’ll provide guidance, advice, and resources on how to organize your recovery effort from the storm and get your business back up and running. As a Miami-based business, we are committed to supporting local hurricane recovery for small business owners. This is one of the ways in which we hope to do so.

How To Create a Budget and a Cash Flow Analysis for Businesses of All Sizes

There’s no getting around budgeting and cash flow forecasting if you want your business to succeed. Whether you’re just getting started or have been in business for many years, budgeting and cash flow forecasting are essential tools to help you understand your past performance, set realistic goals for the future, and make better decisions about how to allocate resources. Regardless of your company size or stage of development, budgeting is a critical exercise for proper financial and operational planning. In this blog post, we’ll discuss the benefits of budgeting for businesses of all sizes – from pre-revenue startups to rapidly growing small businesses to those preparing for an exit.

Recruiting and Staffing

Within weeks of coming on board, the books were brought completely up to date. Payroll related issues and inquiries were reduced by 75%, outstanding accounts receivables balances were reduced by more than 50%, and financial statements were prepared consistently and on-time. Even more surprising, the business now has a team of experts working with them daily who are responsive and professional when dealing with their internal staff and clients! Costs for managing their accounting operations were reduced by 20%.

Law Firm

The business model provides for counseling and intervention services all over the country through a network of independent specialists. Payments to contractors were inconsistently managed and did not provide for a reliable way to account for expenses incurred by the counselors. The business owner had a bookkeeper who worked part-time on the weekends but was never available when needed during the week. Questions were often left unanswered, and the financial statements were unreliable due to a lack of follow through.

Restaurant

The operations manager was able to save more than 30 hours of time per month, and the financial statements are now produced on-time to give the restaurant owner the ability to make better decisions. Through financial reports created by Tentho the restaurant owner was able to identify overspends in inventory and was able to make adjustments which saved over $20,000.

3 Things to look for when choosing a financial services provider for your LGBTQ-owned Business.

Discrimination can have a significant impact on LGBTQ+ business owners, who may find it difficult to secure the financing they need to grow and expand their businesses. If you’re an LGBTQ business owner, here are a few things to keep in mind when choosing a financial service provider.

How to Use Performance Data to Create a Business Budget

As your business grows, the metrics needed to successfully run operations change significantly. While it can be easy to singularly focus on driving profit, many owners overlook the simple fact that as business expands, there …

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5 Ways to Use AI to Enhance Your AP Processing to Help with Nonprofit Accounting

While it may sound like the backdrop for a science fiction novel, machines are getting better at helping businesses manage their accounting needs. In today’s technological landscape, there are a plethora of apps that integrate …

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5 Tips for Creating a Budget That Aligns with the Business Strategy

As businesses grow, so do their budget requirements. This is one of the most pragmatic financial truths that business owners should strive to incorporate into their financial strategy. As your business expands, it’s important to …

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