Salt Lake City Bookkeeping Blog

In general, business owners and other professionals want to keep track of all their income. This includes moderate and small amounts. However, does it also include tracking incoming restaurant tips if you’re working in the food industry and employ people like wait staff, bartenders, bussers and hosts who are earning tips?

You may be running a business with great skill, but the services of a business consultant can still give you a powerful advantage. No matter how efficient and effective you are at running your company, there are four excellent reasons to hire a service offering business consulting for small businesses:

Whether you have a small business that’s been up and running for years, or you’re an entrepreneur thinking about opening a company, you still need an operating agreement. Unfortunately, operating agreements are not always in place in small businesses across the country, which is a misstep — especially for LLCs.

You already have a business plan, but do you have a business continuity plan? The former is a guideline for your entire company’s processes, but the latter is specific to a disaster or emergency incident. Ironically, most small businesses never even consider the importance of a business continuity plan, often because they mistakenly assume that they can rebound after an event such as a weather-related shutdown, fire, terrorist event, technological disaster or others.

If you’re a stay at home mom who wants to bring in extra income for your family, you’ll be excited to learn that there are plenty of opportunities out there! In fact, all you have to do is a little digging to uncover really inspiring business ideas for stay at home moms.

You’re all ready to start a small business. You have the passion. You have the funding. You even have a few key team players in mind. But before you make it official, you definitely need something else: a business plan.

Are you someone who has an entrepreneurial spirit? You may want to make owning your own business a life goal — and with franchising, it can be easier than you might suspect.

B2B scams target businesses in an effort to draw money into fraudsters’ pockets. Fraudsters rely on the fact that companies and nonprofit organizations are busy, have multiple staff members and often order many products and services. Common B2B scams include sending invoices for products a company did not order or delivering products a business did not order, along with an invoice.

Mentoring is sometimes seen as a resource for young people just getting started in their careers. However, small businesses can derive huge value from mentors. According to one 2012 study, polled companies that used mentoring increased revenues by 106 percent on average, or about $47,000. Companies that were polled and did not report using mentoring increased revenues by an average of 14 percent or $6,600.

In a nutshell, bookkeepers are those who manage the financial records of a company so the company’s bills are paid and the revenue is recorded. The bookkeeper also ensures employees are paid when they should be, and invoices are sent out in a timely fashion.