Many people ask why they should outsource their accounting and what Tentho can offer that they cannot do for themselves. We believe there are many reasons to outsource accounting to a professional firm – especially for small to mid-size businesses. Check out these top 6 reasons why.
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.
Experiencing steady, consistent growth is the goal of every company. Businesses plan annually to make strides toward scaling up operations, hiring new employees, and earning more revenue. However, one aspect that often gets overlooked as …
How Bookkeeping and Accounting Can Benefit Your Business Read More
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 …
5 Ways to Use AI to Enhance Your AP Processing to Help with Nonprofit Accounting Read More
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 …
5 Tips for Creating a Budget That Aligns with the Business Strategy Read More
Many business owners don’t realize that our economy has natural cycles of expansion and decline. For this reason, businesses would do well to prioritize being prepared year-round should the market take a turn for the worse. In the event of a financial downturn or a recession, circumstances can change suddenly and unexpectedly, leaving business owners wondering what to do next. Fortunately, maintaining some fundamentals as a business before a difficult situation emerges can make it much easier for owners to ride the natural waves of the economy. In this article, we’ll discuss some best practices on how to prepare for a recession.
Working or volunteering in a nonprofit organization can be a rewarding opportunity for many. Whether you are excited by the prospect of creating new positive change, or simply contributing to an established organization’s mission in …
One of the hottest topics of innovation in the financial world today is decentralized cryptocurrency housed on the blockchain. In light of the shifting financial forecast brought on by COVID-19, many public companies are holding …
In 2020, there were drastic changes in operations for small and medium-sized businesses. These unprecedented obstacles have created several new considerations for tax preparation for not only the 2020 tax year, but also for filing …
Understanding the financial impact brought on by the global pandemic has proved challenging for many accounting departments in the past year. A host of complex problems has surfaced as a result of operational struggles during …
Knowing how to properly manage accounting for small and mid-sized businesses may seem like an easier task due to the smaller nature of the companies. However, many times it is the founders and senior members …
Accounting for Small Business: Soothing the Pain Points Read More
A sigh of relief came for many small and medium-sized businesses when the second round of the Paycheck Protection Program was passed by legislature. However, this does not mean that it is time to relax, …
While there are many behaviors that separate great leaders from posers, there are 7 behaviors that every successful startup founder has in common. Building a startup is like continuing to put your hand in a light socket …
7 Behavioral Traits That Make Great Startup Founders Read More
If your company handles a large number of client and supplier transactions, managing accounts payable and ensuring accuracy can be a challenge. One effective way to improve payment processes is to adapt the three-way (3-way) …
Read below to discover how hiring a bookkeeper has benefited this business and why they chose Tentho. Are you doubting the large financial risk it took to invest in your small business? Do you feel so obligated to your business you’ve given …
Millions of small business owners struggle to complete their bookkeeping on a monthly basis, and for many of them, it is an unwelcomed chore. Most people aren’t “accounting” or “financially” focused people, and most small business owners would much …
We have just learned of some important news affecting businesses working with ScaleFactor for their bookkeeping and accounting services. ScaleFactor announced it is shutting down in August and terminating accounting services at the end of …
What is the difference between bookkeeping and accounting? We often get this question, and it’s an important one for business owners to understand. So we’ve compiled a list of answers to some of the key …
For many small business owners, the sound of the word “financial audit” can be terrifying. Here are some things to avoid if you want to reduce the likelihood you will be “red-flagged” by the IRS. …
Scared of an Audit? Calm Your Nerves with these Tips Read More
It’s that time of year again, the time of year when you are required to send out a Form 1099 to vendors who meet certain criteria. As a general rule, you must issue a Form …
The new year provides the opportunity to take a step back, reset, and commit to improving. For small business owners, nothing is more important than your finances, and they should therefore be at the top …
10 Small Business Bookkeeping Tips for the New Year Read More
Nothing is quite as cumbersome or annoying as taking the time to reconcile accounts. Reconciling your bank, credit card, and other types of balance sheet accounts is never fun, but it’s so important. Every wonder …
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