Cash flow management became a big concern for a lot of businesses this year, especially after COVID really set in. The problem was that most businesses not only didn't have a good handle on their cash flow, but their accounting system was not set up in a manner that made cash flow management possible.
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As a food truck owner, there is just too much to do. Ordering food, hiring and training help, preparing food for each day, taking customer orders, cleaning, and the list goes on and on. How can you expect to have time to care about making money?
Read MoreTopics: Food trucks
Running a business is as fulfilling as it is stressful. There is joy that comes from seeing your idea become reality. It doesn't hurt that as a business owner, you get to be your own boss, schedule your work hours, and have the opportunity to help your community.
Nevertheless, there is more to owning a company that product creation and marketing. While it is important to improve your products and get your brand message across audiences, keeping tabs of your expenditures and making sure your business finances are in order is just as essential in running a successful enterprise.
Needless to say, bookkeeping should be a priority for every business owner. As mundane and tedious as it is, ensuring that your books are in order can be the difference between making a profit and losing your investment.
New to entrepreneurship? Below are a few bookkeeping mistakes that you should be aware of:
For many businesses, their bookkeeping causes a lot of pain. However, when handled correctly, there are many pains that proper bookkeeping can remedy. Common reasons that bookkeeping causes pain are: it is intimidating, people don't like it, and it's often way behind because it gets pushed to the back burner.
It is crucial to keep up on your bookkeeping so that you can keep your business on track towards its goals. If you are feeling any of the following bookkeeping pains, you need to make some changes to your current system.
Topics: Bookkeeping Services, Financial Forecasting, Financial Reporting, Business Budgeting, Small Business Bookkeeping
As a small business, there are many bookkeeping mistakes you just can't afford to make.
A small mistake can mean a minor setback in your operations. Some larger ones can have you overpay taxes. There is not a company anywhere that wants to pay more tax than they legally have to.
Topics: Bookkeeping Errors, Efficient Bookkeeping, Do It Yourself Bookkeeping, QuickBooks advice, Tax Compliance, Outsourced Bookkeeping
The new year is almost here. It is time for your year-end bookkeeping but also to start planning for the next year.
Topics: Bookkeeping Processes, Financial Forecasting, Financial Reporting, Year End Bookkeeping
Restaurant bookkeeping is a fairly unique process, and through our experience, we have learned that the front of the house operations has an effect on the bookkeeping, and understanding the ins and outs is extremely important.
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Have you ever wondered how a small business bookkeeper handles the bookkeeping for their own business? Think about it, if you are using an outsourced bookkeeping service they have to handle their own business bookkeeping.
Ask them what they do for their own bookkeeping that you currently are not doing. Here are the key things I do with our own small business bookkeeping.
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Topics: Financial Forecasting, Financial Reporting, Business Budgeting, Small Business Bookkeeping, Reconciling QuickBooks, Bookkeeping Theft
We have helped plenty of small business owners with opening a yoga studio but mostly from a business perspective. Yoga studio bookkeeping is one of our industry specialties due to how many yoga studios we have done bookkeeping and business consulting for.
The one thing I have noticed about all the yoga studio owners we have worked with is the passion they have for yoga. I'm sure you don't want to get into yoga for business management; you just want to run a studio because you love what you do.
No matter what business you are in having a true passion and love for what you do is what leads to running a successful business. If you are wondering how to open a yoga studio I have plenty of advice from a business perspective based upon my past experience.
| Here we will discuss my top tips for those wanting to open their own yoga studio. |
It seems like the #1 concern for every business, whether it's a small yoga studio or a large gym is how to grow. But growth doesn't always equal higher profits, nor does it mean that your business is prepared for responsibility of growth such as hiring, expanding space, budgeting, and more. Every small business or gym seems to want to grow; the question is, are they ready? Check this quick assessment to get an idea if your yoga studio or gym is ready for growth.
Topics: Sales Advice, Small Business Growth, Grow Your Business
