Salt Lake City Bookkeeping Blog

Crafting A Chart Of Accounts For A Small Business

Posted by Christina Whalen on Oct 1, 2015 7:00:00 AM

Setting Up QuickBooks Chart Of AccountsThe Chart of Accounts is the initial building block of any accounting system. No matter what kind of business you are a part of, there is always a key group of accounts that encompass all of the financial transactions that happen in a business. 

Customization is the next step to building out a brilliant Chart of Accounts. From there, the Chart of Accounts will get tailored with three key players in mind: the owner, the CPA, and the bookkeeper.

In the words of SLC Bookkeeping's COO Alex Viau, the most important facet to keep in mind is to KISS... "Keep it simple, stupid."

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Topics: QuickBooks Tips, Bookkeeping Tips, chart of accounts, cleaning chart of accounts, QuickBooks Chart of Accounts

[Infographic] 7 Non-Billable Tasks That Grow Your Business

Posted by Austin Walker on Sep 30, 2015 7:30:00 AM

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Topics: non-billable time, Business Ideas, Small Business Growth, Grow Your Business

Solid Bookkeeping - The Key To Growing And Exiting A Business

Posted by Matt Roberge on Sep 29, 2015 7:00:00 AM

Having a solid bookkeeping system in place is the key to growing a small business and implementing an exit plan. A great idea will get you going, but it won't necessarily lead to huge growth and an eventual exit. 

Growing a business takes a great idea, a strong strategic plan, and a way to measure your progress (i.e., bookkeeping). Seasoned consultants will often tell you to start with the end in mind; they are right. A good strategic plan starts with an end goal, which for many business owners is an exit. I will explain how a solid bookkeeping system will allow you to grow your business to a new level and execute an exit plan.

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Topics: Bookkeeping Services, Small Business Growth, Exit Planning, Small Business Funding, Small Business Mentor, Equity Partner, Business Acquisition, Growth Coach

Small Business Owners - Why Are You Working Your Ass Off?

Posted by Matt Roberge on Sep 24, 2015 7:30:00 AM

Small business owners work their asses off to build a successful company. However, have you ever thought about why you are working your tail off?

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Topics: Small Business Owner, Small Business Growth, Scaling A Business, Business Goals, Team Building, Growth Coach

How to Source the Best Employees [Slideshare]

Posted by Austin Walker on Sep 23, 2015 7:30:00 AM

According to the Bureau of Labor Statistics, unemployment in the US in August was a low 5.1%.  Given the fact that at its peak, it was just over 10%, it's difficult to determine where the bottom might be.  As the need for demand for skilled labor increases, but the size of the workforce decreases, it's important for small businesses to attract, interact, and retain great employees.

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Topics: Small Business Management, Small Business Growth, employee, sourcing employees

Why MindBody is the All-In-One Fitness Club Tool

Posted by Christina Whalen on Sep 22, 2015 7:30:00 AM

Managing the operations of a yoga studio, gym, or spa is no easy task. With the door open to customers seven days a week; you need all of the help you can get. Coordinating compatibility between a front-end POS software and back-end project management software, and then adding scheduling can be complicated. MindBody Software is an effective tool for both customer-facing and internal processes, acting as a scheduling tool for your customers, a POS system, a payment processor, and a customer relationship management tool. And not only is MindBody all of these things, but it is a leader in its industry.

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Topics: Daily Sales Summary, Bookkeeping Yoga Studio, Mindbody Bookkeeping, Mindbody POS, MindBody Software, Customer Relationship Management

[Infographic] Working for a Small Business vs. Corporate America 

Posted by Austin Walker on Sep 18, 2015 7:30:00 AM

Working for a growing small business rules.  There are some things, like an open office environment, a great work-life balance, and working with multiple clients that help create satisfaction within the multiple roles someone must have to play in order to help the company succeed.

Check out the infographic to decide for yourself whether you're more fit for a role in a corporation or small business:

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Topics: Business Ideas, Small Business, Hiring, Job, CEO Advice, Team Building

Sourcing Employees - Finding Great Employees For A Small Business

Posted by Matt Roberge on Sep 17, 2015 7:30:00 AM

Finding great employees for a small business can be one of the biggest challenges you face as a small business owner. You don't realize how hard it is or how important it is to find great employees until you try and fail. As you grow your business, you will understand how building a great small business team is vital to your success. Here are a few pieces of advice I have to help you find great employees for your small business.

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Topics: Small Business Growth, Grow Your Business, Scaling A Business, Hiring, Team Building

The Dangers Of Running A One-Person Business

Posted by Matt Roberge on Sep 10, 2015 7:30:00 AM

When most small businesses start, they usually have just one employee: the owner or founder. Some solopreneurs grow to the capacity of what they can handle on their own and are content. However, running a business as a solo operator comes with its share of risk. Here are my thoughts on the danger of running a one person business

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Topics: Small Business Owner, Small Business Growth, Grow Your Business, Scaling A Business

4 Benefits Of A POS Generated Sales Report

Posted by Christina Whalen on Sep 8, 2015 7:30:00 AM

If you have a cash register, there is an inherent liability that goes along with it: the cash could disappear. When money is changing hands, there is a higher risk of both theft and mistakes. That is why having a third-party review your bookkeeping is invaluable to business owners.

By having a point of sales (POS) system recording each transaction, you can have peace of mind that, yes, this is how many sales were made and here is the money in the register to prove it. Tracking the sales and comparing your cash deposits is a way to make sure that your employees aren't stealing from you.

Having unbiased sales reports on the back-end is the best way to track what's happening in your store front.

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Topics: Daily Sales Summary, Sales Journal Entry, Cash Flow Management, Daily Reconciling, POS System