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Salt Lake City Bookkeeping Blog

6 Bookkeeping Pains An Outsourced Bookkeeping Service Can Resolve

Posted by Matt Roberge on Feb 12, 2020 12:00:00 PM

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.

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Topics: Bookkeeping Services, Financial Forecasting, Financial Reporting, Business Budgeting, Small Business Bookkeeping

Bookkeeping Tasks For Every Time Of The Year

Posted by Matt Roberge on Dec 27, 2019 12:00:00 PM

The new year is almost here. It is time for your year-end bookkeeping but also to start planning for the next year.  

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Topics: Bookkeeping Processes, Financial Forecasting, Financial Reporting, Year End Bookkeeping

The Best Tips For a Small Business Owner Managing Their Own Bookkeeping

Posted by Matt Roberge on Dec 11, 2019 7:00:00 AM

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.

 

  1. Owner In Control
  2. Updated Often
  3. Always Accurate
  4. Set Goals
  5. Key Metrics and Reporting
  6. The Importance of Checking a Client's History
  7. Collection Success When You're a Small Business Owner

 

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Topics: Financial Forecasting, Financial Reporting, Business Budgeting, Small Business Bookkeeping, Reconciling QuickBooks, Bookkeeping Theft

Why You Need Internal Accounting Controls to Keep Risk at Bay

Posted by Leanne Armstrong on Jul 24, 2019 9:00:00 AM

How can you be sure that an employee isn’t secretly stealing from you, that your company is tax-compliant, and that your financial records are reliable? Three words: internal accounting controls.

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Topics: Financial Reporting, Bookkeeping Theft

Financial Statements are Vital. Do You Know How to Read Them?

Posted by Leanne Armstrong on Jun 27, 2018 9:00:00 AM

Your business’s financial statements are vital for a number of reasons. Not only do they form the basis of accurate tax reporting, they make it possible to get approval for loans, attract business investors, and even sell your company when the time is right. But your financial reports are also an important diagnostic tool that can give you the power to measure and influence your organization’s performance. Isn’t it time you learned how to read them?

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Topics: Financial Forecasting, Financial Reporting, Growth Coach

Essential Guide to Business Financial Planning

Posted by Leanne Armstrong on Mar 17, 2017 9:00:00 AM

Does your company have a financial plan to help pave the way to future success? Financial planning for businesses is a key component in understanding your organization from a dollars and cents perspective, both today and down the road.

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Topics: Financial Forecasting, Financial Reporting, Growth Coach

The Secret To Improving Customer Retention

Posted by Leanne Armstrong on Feb 17, 2017 9:00:00 AM

Customers are the lifeblood of every business. And in today’s highly connected, review-driven world, your company’s reputation with past and potential clients plays an integral role in its long-term success. With unlimited choice at their disposal, many customers are choosing to forgo the lowest price for the goods and services they want in favor of a more satisfying buying experience. In fact, recent research by American Express indicates that the majority of consumers are willing to spend more money on companies that provide the best customer service. If you’re hoping to see your business grow, it’s well worth taking the time to understand what your customers really want.

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Topics: Financial Reporting, Growth Coach

If You Don't Know Your Numbers You Don't Know Your Business

Posted by Matt Roberge on Feb 23, 2016 8:30:00 AM

I Need To Know My NumbersI was watching CNBC's The Profit last night and Marcus Lemonis said something brilliant.

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Topics: Financial Forecasting, Financial Reporting, Grow Your Business, Scaling A Business, Growth Coach

How Do I Get Accurate Financial Reports For My Small Business Faster?

Posted by Matt Roberge on Feb 4, 2016 8:00:00 AM

From a financial perspective, I would say that the number one issue for small businesses is having access to accurate financial information when they need it. Many new prospects tell us that they don't feel as though their financial reporting is accurate and they don't look at reports often enough. So how do you get accurate financial reports for your small business in a timely manner?

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Topics: Cash Flow Management, Financial Reporting, Outsourced Bookkeeping

Is Your Business's Financial Forecast Red, Yellow, Or Green?

Posted by Matt Roberge on Jan 26, 2016 8:45:00 AM

Moving your business where you want to go is a lot like driving a car; it can be easy at times and absolutely crazy in other situations. Growing up on the east coast, I'm naturally an excellent driver (at least in my own head). When navigating along the road in your car, you face similar situations as when you are moving your business in the direction you want to go. Getting where you want to go depends upon how you deal with the constantly changing environment and it requires making good decisions.  

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Topics: Financial Forecasting, Financial Reporting, Grow Your Business, Outsourced CFO Services, Growth Coach