How to Calculate Net Income: A Comprehensive Guide for Business Owners
Learn how to calculate your net income with our step-by-step guide. Use our simple formula to calculate your take-home pay.
Bad Financial Advice from the Movies: A Guide to Avoiding Financial Mistakes for Small Business Owners
As small business owners, it’s important to have a strong understanding of financial management. However, with so much conflicting advice out there, it can be tough to know where to turn. Unfortunately, even Hollywood is guilty of perpetuating bad financial advice in movies. While it might make for an entertaining storyline, following these bad financial practices can have serious consequences for your business.
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.
Small Business Year-End Checklist.
As the new year approaches, it’s time for small business owners to start thinking about their year-end checklist. Here are a few important items that should be on every small business owner’s list.
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
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.
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 Avoid Cash Flow Problems
Every business should take steps to avoid cash flow problems. Here are some tips to help you get started.
Getting Your Books Set Up for Success in 2022
Moving into a new calendar year is the perfect time to incorporate better methods for managing your business. One of the first steps towards improvement in 2022 is putting key bookkeeping practices in place for …
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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A Guide to Outsourced CFO Advisory Services
Throughout the past few years, a large shift has occurred with more business owners searching for ways to competitively grow without significantly increasing expenses. This shift, combined with the increased availability of cloud-based data and …
4 Emerging Trends in AP Integration to Watch in 2022
Staying abreast of the latest trends in accounting can feel like a full-time job for any seasoned professional. That’s why it’s always important to revisit new ways to implement industry-proven advice and strategic best practices …
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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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7 Tips to Recession-Proof Your Business
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.
5 Tips for Creating a Business Budget
Budgeting can be a complex challenge for any business. Whether you are just starting out, or your company is more established and planning major changes such as expanding into new markets, creating a business budget …
What You Need to Know About Cryptocurrency
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 …
Accounting for Small Business: Soothing the Pain Points
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 …
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The PPP as applied to the 2021 Tax Season
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, …
Tax Season 2021: Dealing with COVID Complexities
Complex tax law changes and economic stimulus programs in response to COVID-19 have muddied the water even further when it comes to filing for the 2021 tax season. According to cpapracticeadvisor.com, “The IRS announced that it …
7 Behavioral Traits That Make Great Startup Founders
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 …
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I’ve Been Funded! Now What?
The roller coaster ride of the Cares Act, and more particularly, the Paycheck Protection Program (PPP) has ended abruptly. You’ve been funded and the money is in your bank account. Now you want to know… …
The Business Game Plan for Life After Covid-19
The Covid-19 pandemic has wreaked havoc on the economy and left economic devastation in its wake. Actions taken will continue to determine which businesses thrive. Having a business game plan is an integral part of …
Tentho Offers Support to Businesses Dealing with the Impacts of Coronavirus (COVID-19)
These past couple of weeks have been riddled with uncertainty, volatility, and general anxiety for business leaders and their employees. News is moving at light speed and government requirements being imposed to protect public health …
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Bookkeeping vs. Accounting
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 …
The Hardest Part of Starting a Business
Starting a new business can seem like one of the scariest things in the world, but with enough determination and passion for your product or service, you can accomplish your short and long-term goals while overcoming hardships.
The Easy Part of Owning a Business
Starting a business can seem incredibly scary! It’s especially hard if you’re already working a nine to five and have a limited amount of time to focus on the tasks you need to accomplish before …
What Can a Virtual Bookkeeping Firm Do for My Business?
When running a small business, there are A LOT of things to worry about and focus on. However, with advances in technology, more affordable options, and better overall quality service; managing your bookkeeping and accounting …
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10 Small Business Bookkeeping Tips for the New Year
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 …
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The ABCs of Payroll
As a small business owner, nothing can be more intimidating than writing a check for your employee and making sure those payroll taxes are paid correctly and on time. If you are feeling overwhelmed, Tentho …