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Salt Lake City Bookkeeping Blog

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, Strategic Planning, Growth Coach

Get Out Of Your Own Way In Your Small Business

Posted by Matt Roberge on Jul 9, 2015 7:30:00 AM

Are you in the way of your small business growing? Let me phrase it another way: are you in your own way in your small business? If you answered: no I am the best at everything and therefore I do everything... then yes you are in your own way. All too often a small business hits a growth plateau and they don't understand why. Quite often the owner is in the way of the business taking off and growing.

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Topics: Outsourced Accounting And Bookkeeping, Small Business Growth, Grow Your Business, Delegating, Outsourced Bookkeeping

Will CFO Services Uncover Your Hidden Profit Centers?

Posted by Matt Roberge on Sep 5, 2014 7:00:00 AM

Today's post is a guest post by RANDY RUSSON, Founder of TOP CFOS | Join him on LinkedIn

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Topics: Outsourced Accounting And Bookkeeping, Part-time CFO Services, Outsourced CFO Services, Part Time Bookkeeper, CFO Consulting, Outsourced Bookkeeping

Which Small Businesses Don't Need Outsourced Bookkeeping?

Posted by Joe Mazur on Apr 2, 2014 7:00:00 AM

Believe it or not, some small businesses simply don't need outsourced bookkeeping.  Like all businesses, they still need bookkeeping just not outsourced bookkeeping.  As a virtual bookkeeping firm, we have an ideal client and every once in a while we tell a potential client that we wouldn't be a great fit for them.  The reasons can vary from anything technology driven all the way to company culture.  We've learned it's better to be upfront with prospects earlier on in the sales cycle as opposed to trying to BS them and attempting to get a square peg to fit into a round hole.

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Topics: Bookkeeping Salt Lake City, Bookkeeping Processes, Outsourced Accounting And Bookkeeping, Outsourced CFO Services, Part Time Bookkeeper, Outsourced Bookkeeping

A Bookkeeper That Has Worked With A Few Businesses Or Hundreds?

Posted by Matt Roberge on Feb 24, 2014 7:00:00 AM

Would you prefer that your bookkeeper has worked with a few businesses in their career or hundreds? I guess the answer to that question really depends upon what your goals are with your small business bookkeeping.  If you need a full-time 40+ hour per week bookkeeper then maybe you want someone that has a job history of longevity with their past employers.  However, if you are a small business that only needs part-time bookkeeping services then maybe you want a bookkeeper that has worked with all kinds of different businesses.  At SLC Bookkeeping we have done bookkeeping for hundreds of different businesses and here is what we have learned.

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Topics: Small Business Bookkeeper, Small Business Bookkeeping, Outsourced Accounting And Bookkeeping, Outsourced CFO Services, Outsourced Bookkeeping

How Does Outsourced Bookkeeping At SLC Bookkeeping Work?

Posted by Matt Roberge on May 1, 2013 7:30:00 AM

New clients of our outsourced bookkeeping services typically have two main questions: how does it work and how much does it cost? The answer to both questions is not simple, nor predetermined.  Every client's needs are different as is their bookkeeping system.  Therefore, the way our outsourced bookkeeping services work and the price fluctuates with each client.  In order to tell a new client how our bookkeeping services work and how much it will cost them depends on a series of questions and answers.  Here are the highlights of how our outsourced bookkeeping services work.

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Topics: Bookkeeping Salt Lake City, Bookkeeping Tips, Outsourced Accounting And Bookkeeping, Bookkeeping Salt Lake City Service, outsourcing bookkeeping, Part Time Bookkeeper, Outsourced Bookkeeping, Salt Lake City Bookkeeping

QuickBooks Help In Salt Lake City

Posted by Joe Mazur on Feb 8, 2013 7:00:00 AM

As a small business, you may not need a full time bookkeeper.  If you are a very small business owner, you may not even need a bookkeeper at all.  Northern Utah offers a variety of business opportunities and depending on your business' size, the perfect solution could just be QuickBooks help in Salt Lake City.  In the early stages of business growth, most CFOs, sales coaches, investors, etc. would suggest keeping costs as low as possible and work on growth.  Bootstrapping is a term you hear thrown around more and more these days and I couldn't agree more.  Keep costs to a minimum and put your head down and work. There are plenty of ways to do this; read a book, read a blog, or maybe ask for help.  Getting your bookkeeping system set up right the first time is much wiser and cheaper than waiting until it unravels and then working backwards to fix it.  QuickBooks is an easy program to use and usually the best option for the entrepreneur that's just getting started.  It's better than using Excel to track income and expenses and much more analytical than Quicken.


Stress And Time 

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Topics: Small Business Bookkeeper, QuickBooks Tips, Outsourced Accounting And Bookkeeping, outsourcing bookkeeping, Free Bookkeeping Trial, Hire A Bookkeeper

Why Small Business Bookkeepers Are Invaluable

Posted by Matt Roberge on Oct 22, 2012 7:22:00 AM

Small business bookkeepers are an invaluable asset to small businesses. When you have a qualified
experienced bookkeeper your small business has the ability to grow with your full attention being focused on your business.

A bookkeeper has the training to take all the bookwork off the owner of a small business so that the owner can now focus on the core of the business. Trained bookkeepers have the expertise to handle the accounting work of your business giving you the confidence to base your management decisions on the accounting records. Should you expand or should you go for a big bid that might expand your business? These questions can be answered if you have accurate and up to date information that small business bookkeepers can provide. 

One of the most important things that a good bookkeeper can do is take away the hassle and stress of completing financial tasks. Most small business owners do not have the time or expertise to enter all the necessary documents and process them.  As a business owner you need to delegate those tasks to someone who has knowledge of how the tasks should be done. Bookkeepers are trained so that they can complete these tasks in a lot less time than you can. 

Bookkeepers can perform the following tasks for small businesses. The bookkeeper can make sure that the small business has a very good system in place to capture all of the financial information necessary for the complete financial picture.  Accounts receivable including invoices and collection of payments to collecting
debts if required. Accounts payable including purchase orders, invoices and payments can be handled in a timely manner. The bookkeeper can also help you continually improve the system you use to make-work flow smoothly.

Small business bookkeepers can also provide payroll services, payroll tax payments and cash flow forecasting. The most important thing they can provide is the ability to assist the business owner's decision-making process by providing them with accurate and timely reports. 

When a small business owner is ready to take their business to the next level having an experienced bookkeeper is invaluable. The confidence that you have in a good bookkeeper can help you move forward with your business plan and really grow your business.  How could your business be more efficient with a small business bookkeeper? How much could your business grow with your undivided attention?  


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Topics: Small Business Bookkeeper, Outsource Bookkeeping, Small Business Bookkeeping, Small Business Accounting, Outsourced Accounting And Bookkeeping, Outsourced Bookkeeping

Daily Deals: Will They Benefit Or Hurt Your Business

Posted by Joe Mazur on Oct 15, 2012 8:11:00 AM

Daily Deals have grown tremendously in the past few years.  With this growth, it has changed the landscape of e-commerce.  Almost every website that offers items for sale now has a subsidiary that handles daily deals.  Before you blindly jump into this, there are a few things you are going to want to consider for the better of both your sanity and your business.

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Topics: Small Business Bookkeeper, Bookkeeping Help, bookkeeping challenges, Outsourced Accounting And Bookkeeping

Outsource Your Bookkeeping And Still Control Your Business Finances

Posted by Matt Roberge on Oct 1, 2012 7:47:00 AM

I think many business owners are hesitant to outsource their businesses bookkeeping because they are worried about losing control of the financial aspect of their business.  It is a legitimate concern.  All along you have been handling the bookkeeping yourself.  You know what is going on and you are intimately involved with the financial aspect of your business.  However, you have hit the crossroads and you are too busy to continue to put the time into growing your business and still maintain the bookkeeping.  You think outsourcing your bookkeeping might be the solution you are looking for, but you have concerns.  Let me tell you how to outsource your bookkeeping and have it be a positive move instead of a hesitant move.

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Topics: Outsource Bookkeeping, Business Bookkeeping, Outsourced Accounting, Outsourced Accounting And Bookkeeping, outsourcing bookkeeping, Outsourced Bookkeeping