No, the PPP won't save your business.
It was designed to save the economy, but not your business.
It definitely helped your employees because it guaranteed their jobs and income during some really uncertain times. And with all the employees countrywide staying on payroll, the economy dodged disaster.
But by now I'm sure the majority of those funds have been exhausted. So what now?
Read MoreTopics: Small Business Consulting
I say it to our team all the time:
We are a customer service business that does accounting.
And I truly believe it.
When you look at the businesses you continually buy from what do they have in common? In addition to great products or services that you want or need I guarantee most of them have outstanding customer service.
How nice is it when you buy something from Amazon or Zappos and it is just not perfect so you return it and there are no questions or hassles? What about when you get instantaneous support and problems solved through a web chat or phone call where you didn't have to wait?
You will continually support businesses that offer great customer service.
The accounting industry is not different. We are in the service industry and therefore need to offer outstanding service.
Let me explain how we have designed the customer experience and service at SLC Bookkeeping so you can understand what makes us different and what you can expect working with us.
Read MoreIf your business bookkeeping system is not up to date then you are running your business blind. However, your business bookkeeper can take your blindfold off and open your eyes to the financial state of your business. How can you make decisions without accurate financial information? How can you even begin to plan how to grow your business without current income and expense figures? In my eyes you can't. Here is what is going on beyond that financial blindfold:
Topics: Bookkeeping Services, Bookkeeping Help, Small Business Bookkeeping, Outsourced Bookkeeping
Restaurant bookkeeping for a restaurant group that has multiple locations can be tricky. With several restaurant locations you have quite a bit going on. You have invoices and bills to deal with as well as credit card and cash deposits for each location.
Topics: Restaurant Bookkeeping, Restaurant P.O.S, Restaurant Accounting, Restaurant Industry
If you are using Square POS you can set up a really great automated bookkeeping system. Square is a really popular POS solution in the restaurant industry. It works particularly well for quick-service restaurants, ghost kitchens, food trucks, and curbside pickup business models.
Read MoreTopics: Bookkeeping Processes, QuickBooks Bookkeeping, pos system
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
