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Salt Lake City Bookkeeping Blog

Need Funding? Let’s Look at Debt vs Equity Capital

Posted by Leanne Armstrong on Jun 20, 2018 9:00:00 AM

Entrepreneurs often take it for granted that the financing they need to get and keep their ventures afloat will come directly from the revenues they generate. But in many cases, your income won’t be enough to keep pace with what’s needed to support your operations. Some small businesses turn to debt or equity capital as a source of financial help. So let’s take a brief look at whether it might be better to pay with cash interest or with company stock for the funds that can help your business succeed.

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Topics: Business Funding, Small Business Funding, Equity Partner

5 Commonly Overlooked Bookkeeping Tactics

Posted by Leanne Armstrong on Jun 13, 2018 9:00:00 AM

Whether you’re new to business, new to bookkeeping, or just want a refresher in strategic accounting, there’s a lot to be said for exploring the bookkeeping tactics most likely to enhance your company’s performance.

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Topics: CFO Consulting, QuickBooks Online, Bookkeeping Service

Harnessing the Relationship Between Bookkeeping and Business Strategy

Posted by Leanne Armstrong on Jun 6, 2018 9:00:00 AM

Effective accounting strategies are vital for business growth. In fact, gathering, recording, and analyzing your company’s financial information is the best way to gain valuable insight into your short-term and long-term operations.

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Topics: CFO Consulting, Strategic Planning, Growth Coach

Source Documents: What They Are and Why Your Bookkeeper Needs Them

Posted by Leanne Armstrong on May 30, 2018 9:00:00 AM

Source documents are any original financial records that serve as a paper trail to support your bookkeeping transactions. These documents may include – but are not limited to – company purchase orders, packing slips, and supplier invoices, cancelled checks, cash receipts, and employee time cards.

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Topics: Small Business Bookkeeper, Bookkeeping Service, Receipt Management

How to Manage Your Petty Cash Fund

Posted by Leanne Armstrong on May 23, 2018 9:00:00 AM

There are some business purchases – think coffee runs, staff birthday cards, and one-off postage costs for example – where it’s impractical to pay by credit card or check. As a matter of fact, it was smaller business expenditures like these that first gave rise to the term petty cash! And they’re still the reason why most companies find it useful to keep funds on hand for minor, last-minute, or cash-only expenses.

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Topics: Bookkeeping Procedures, Cash Flow, Outsourced Bookkeeping

Reviewing Our Key Business Decisions

Posted by Matt Roberge on May 16, 2018 9:00:00 AM

We have been in business for over 11 years now. Over that time period, we have made some great decisions that have led to successes and also some terrible decisions that have led to failures. 

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Topics: Strategic Planning, CEO Advice, Growth Coach, Decision Making

Small Business Expense Checkup: Are Your Costs Too High?

Posted by Leanne Armstrong on May 9, 2018 9:00:00 AM

Whether you’re budgeting for a new business or you’ve been operating for a while, performing regular expense checkups can help keep costs down and profits up.

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Topics: Financial Forecasting, quickbooks expenses, Expense Management

Entrepreneurs Need To Talk Profitability

Posted by Matt Roberge on May 2, 2018 9:00:00 AM

How come business owners never talk about profitability?

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Topics: Entrepreneurship, Growth Coach, Profit Coach

Customer Experience Matters To Your Small Business

Posted by Matt Roberge on Apr 25, 2018 9:00:00 AM

I hope that as a small business owner you believe that the customer experience still matters, even though you are small. The customer experience matters even if you are a solo business owner. And you might think that if you are the only employee that you are in complete control of the customer experience; I would have to disagree. Let's dive into the details.

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Topics: Small Business Growth, Small Business Sales, Customer Success, Customer Relationship Management, Customer Experience

What’s the Difference Between Bookkeeping and Accounting?

Posted by Leanne Armstrong on Apr 18, 2018 9:00:00 AM

The terms bookkeeping and accounting are often used interchangeably, but there are some key differences that distinguish one from the other. While both functions play essential roles in managing your company’s finances, it’s important to understand the nature of their relationship, and how bookkeeping and accounting ultimately work together to ensure the success of your business.

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Topics: Outsourced Accounting And Bookkeeping, CFO Consulting, Strategic Planning, Growth Coach