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Salt Lake City Bookkeeping Blog

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: Bookkeeping Service, QuickBooks Online, CFO Consulting

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: Strategic Planning, Growth Coach, CFO Consulting

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, Growth Coach, Strategic Planning

Is Your Small Business On A Road to Nowhere?

Posted by Matt Roberge on Nov 15, 2017 9:00:00 AM

I spend a decent amount of time in my truck driving by myself in remote places. I think that has something to do with being a fisherman in Montana.

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Topics: CFO Consulting, Growth Coach, Grow Your Business, Financial Forecasting

Proof That Small Business Exit Planning Matters

Posted by Matt Roberge on Sep 20, 2017 9:00:00 AM

I've been working on our exit plan lately. Does that mean that we want to sell our business? Absolutely not! So why am I going through the process of exit planning? 

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Topics: Exit Planning, Growth Coach, Small Business Coach, CFO Consulting

Is It Time for Your Business to Hire a CFO?

Posted by Matt Roberge on May 3, 2017 9:00:00 AM

Hiring a CFO is a big decision. CFOs can have a profound impact on your company. However, a CFO also adds to your overhead costs. If you're hiring an in-house CFO, you will have to pay for the recruitment process, salary, training, benefits and many other costs associated with a new employee.

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Topics: CFO Consulting, Outsourced CFO Services, business CFO

Seeking Success? Start with Small Business Consulting Services

Posted by Leanne Armstrong on Mar 8, 2017 9:00:00 AM

The average entrepreneur has a justifiable belief in their ability to do whatever it takes to run a successful company. After all, they come up with terrific ideas, and launch them as bona fide businesses. But it’s at this point that many business owners become so involved in the day-to-day running of their enterprise, that big picture concerns like financial awareness and long-term planning fall by the wayside.

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Topics: Small Business Consulting, CFO Consulting, Growth Coach

What Are the Differences Between Bookkeepers, Controllers and CFOs?

Posted by Matt Roberge on Mar 3, 2017 9:00:00 AM

Most small businesses and startups need nothing more than a bookkeeper in their earliest phases — someone to keep the accounting records current and to produce basic financial statements. You will eventually need multiple bookkeepers and maybe a tax accountant to keep your books and tax situation in top shape. If you begin to feel the need to secure more complex financing than you might find in a trip to the bank, it’s time to consider the difference between a bookkeeper, a controller and a chief financial officer (CFO).

In larger or more mature companies, each has a specific role to perform. Determining whether your company needs all three will depend on your assessment of the breadth, depth and complexity of your financial needs.

Let’s take a look at the basic definitions of each role.

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Topics: Bookkeeper, Bookkeeping, Small Business Bookkeeping, CFO Consulting, Outsourced CFO Services

Will Accountants Be Needed In The Future?

Posted by Matt Roberge on Mar 3, 2016 8:30:00 AM

Will Accountants Become Obsolete In The Future Every time I go through the grocery store self-checkout, I always think to myself, "Is this our business 5 years from now? Will accountants even be needed in the future?"

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Topics: Scaling A Business, CFO Consulting, Growth Coach, Accounting Automation, Future of Business

Will Your Business Suffer If Your Bookkeeper Quits?

Posted by Joe Mazur on Jan 14, 2016 8:45:00 AM

Once in a while, we work with small business owners who dream that each employee will treat the business as if it is their own. They hope the employee will give everything they have to the business in order to see it succeed. These dream employees will work above and beyond, all day, every day. They will work into the foreseeable future and grow old with the business.  Of course, these owners are dreaming and setting themselves up for disasters down the road when a key employee walks out unexpectedly. Nothing brings you screaming back to reality like when an employee, especially the bookkeeper, leaves and the business suffers. The consequences of losing a bookkeeper can have a negative impact on your business in both the short-term and long-term if you aren't prepared for it.

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Topics: Outsource Bookkeeping, Scaling A Business, Part-time CFO Services, CFO Consulting, Outsourced Bookkeeping