by cmehnert01 | Apr 25, 2024 | Small business bookkeeping
If you are a business person, monitoring your spending is key to proper financial management. It assists you in understanding your spending patterns, trimming down on unnecessary expenditures, and preparing precise financial statements. Numerous expenses can easily...
by cmehnert01 | Apr 10, 2024 | Small business bookkeeping
Deciding between accrual or cash-based accounting can be a big deal for your business. Understanding the nuances of each method is crucial to making an informed choice that aligns with your company’s needs. In this guide, I’ll explain these concepts to...
by cmehnert01 | Feb 28, 2024 | Small business bookkeeping
Accurate record-keeping is vital for any business, large or small. It involves more than just tracking income and expenses; it exists so you can create a detailed, clear, and easily accessible record of all financial transactions. This practice is essential to making...
by cmehnert01 | Jan 11, 2024 | Small business bookkeeping
Note: you will need to activate multi-currency within QBO, add foreign currencies within QBO, foreign currency vendors (if applicable), and create TWO “PayPal Bank” accounts within QBO *IN YOUR HOME CURRENCY* and *IN EACH FOREIGN CURRENCY.* I recommend...
by cmehnert01 | Nov 17, 2023 | Small business bookkeeping
When you’re starting up a business, it’s often tempting to cut corners. This is especially true when it comes to accounting. But don’t do it! It’s important to have a solid financial foundation for your business from the very beginning. Here...
by cmehnert01 | Nov 2, 2023 | Small business bookkeeping
Bookkeeping is the process of recording and organizing your business’s financial transactions. It’s the foundation that supports your entire accounting system, so it’s crucial to get it right. Daily Bookkeeping Basics To keep good financial records,...
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