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Salt Lake City Bookkeeping Blog

5 Crucial Steps for Small Business Growth in 2020

Posted by Matt Roberge on Nov 14, 2019, 12:46:00 PM

As the saying goes, "failing to plan is planning to fail". This is never more true than in the world of small businesses. Looking back on the year, there may be many obvious mistakes that have prevented your company from seeing its full potential. In the coming year, there are several crucial steps that will ensure manageable and profitable growth for your small business.

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Topics: Small Business Bookkeeping, Bookkeeping System, Outsourced Bookkeeping

'Must Do Now' Year-End Bookkeeping Checklist

Posted by Matt Roberge on Nov 4, 2019, 9:51:27 PM

As we get closer and closer to year-end most businesses will begin thinking about taxes. One of the most hated words in the business world... taxes. By the time year-end passes and you actually start to think about your bookkeeping and taxes you are too late.

You need to attend to your bookkeeping before year-end and do some tax planning. Updating your bookkeeping and reviewing it prior to year-end is very important as you can actually do something about your tax situation before the turn of the calendar. Here is a must do now checklist for your year-end bookkeeping.

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Topics: Year End Accounting, Small Business Bookkeeping, Tax Tips, Year End Bookkeeping

Year-End Bookkeeping Checklist for the Small Business Owners

Posted by Matt Roberge on Oct 30, 2019, 2:15:00 PM

It's that time of year again. Can you sense it? Year-end is just around the corner. The rivers are getting cold, the smell of fall is in the air, snow is starting to show in the mountains and everyone is getting excited for winter (at least our office is).

For many business owners Thanksgiving through Christmas is a time to take a laid back approach to their business. Taking that approach leaves you behind in your business and that is no way to start a new business year. Here is a year-end checklist for the small business owner.

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Topics: Small Business Management, Year End Accounting, Small Business Growth, Year End Bookkeeping

3 Unexpected Ways Outsourcing Your Bookkeeping Will Grow Your Business

Posted by Matt Roberge on Oct 23, 2019, 8:30:00 AM

As a small business owner, you hear this question all the time: "How's business?"

A very typical response is: "Great, but I'm just so busy."

Most business owners are just busy being busy, but I wonder:

How many of them know how their business is actually doing?

Being busy and being profitable don't necessarily go hand-in-hand. Do you know if your business is growing? Do you have a financial plan in place to accommodate for that growth? Do you spend too much time on payroll and balancing your finances each month? Does year end tax planning give you heartburn? I will explain how an outsourced bookkeeping service can actually help you understand how your business is doing, reduce stress, and plan for growth.

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Topics: Financial Forecasting, Grow Your Business, Exit Planning, Strategic Planning

Bookkeeping for Multi-Location Restaurants

Posted by Austin Walker on Oct 17, 2019, 8:30:00 AM

Bookkeeping for a restaurant group that has different locations and different restaurants under it can be tricky. There are tight margins to maintain.

In addition, spoilage, theft, and inventory must be controlled to maintain profitability. In order to do this, the books must work like a well-oiled machine.

There can't be any flukes or the whole machine is compromised and margins decrease. Follow this guide to monitor profits and grow your restaurant locations.

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Topics: Small Business Management, Outsourced Bookkeeping, Restaurant Accounting

3 Essential Financial Investments to Grow Your Restaurant Business

Posted by Austin Walker on Oct 9, 2019, 8:30:00 AM

There was a time when all that your restaurant really needed was good food and a great location to guarantee its success. But with the advent of social media and online mobility, menu and locale alone aren’t always enough to grow and maintain a healthy client base These three investments are .

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Topics: Marketing Small Business

How to Streamline Your Restaurant Accounting for Business Growth

Posted by Matt Roberge on Oct 2, 2019, 10:00:00 AM

Let's face it, owning a restaurant can be tough... 

As you're likely aware, the restaurant industry has very tight profit margins. And that's precisely why developing an efficient and accurate restaurant accounting system is of utmost importance if you want to continue to grow your business.

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Topics: Restaurant Bookkeeping, Restaurant P.O.S, Bookkeeping Salt Lake City, QuickBooks For Restaurants, Restaurant Accounting, Restaurant Industry

How to Manage Your Cost of Goods Sold: Small Business Bookkeeping Tips

Posted by Joe Mazur on Sep 25, 2019, 12:59:00 PM

An important aspect of small business growth planning is understanding and managing your cost of goods sold. Whether your business sells products or services, it’s important to know “what is the cost of goods sold?” for each item or service you sell. This number provides the basic information you need to promote small business growth.

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Topics: Restaurant Bookkeeping, Small Business

Restaurant Bookkeeping 101 - 5 Step Simple Guide

Posted by Matt Roberge on Sep 19, 2019, 11:52:00 AM

Long hours, high overhead, wasted ingredients, and difficulty making profits are some of the barriers to success for restaurant owners.

Yet, for those who love the business or who dream of having a place where everyone knows your name, there’s no other opportunity that comes close.

An often neglected aspect of restaurant management is bookkeeping. Unfortunately, once you are behind on your restaurant accounting, it is difficult to get caught up.

The profit margins in the restaurant industry are too tight to let your bookkeeping slip. If you aren't watching your financials closely it may be too late to fix problems by the time you catch them.

This guide will help you understand the basics of what a trained accountant will help with as you develop a reporting and growth plan.

Effective restaurant bookkeeping starts with you. Whether you’re running the accounting services yourself or outsourcing your restaurant accounting, staying on top of the day-to-day bookkeeping is essential to stay ahead of your competition and turn a profit.

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Topics: Restaurant Bookkeeping, Restaurant P.O.S, Bookkeeping Processes, Restaurant Accounting

Creating a Growth Culture? Here’s What You Need to Consider

Posted by Leanne Armstrong on Sep 11, 2019, 9:00:00 AM

According to organizations like Gallup, employee engagement is a key driver of business growth. There’s a well-established connection, in fact, between employee motivation and better performance outcomes in productivity, customer ratings, and profitability.

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Topics: Growth Coach