Salt Lake City Bookkeeping Blog

Outsourced bookkeeping, and other professional services, has been gaining a substantial foothold among today's small business owners. But whether you have been thinking about outsourcing for a while now or are considering it for the very first time, you may find you're reluctant to take the step, especially where your finances are concerned.

Often regarded with indifference, confusion, or even outright fear by many entrepreneurs, the misunderstandings and misconceptions surrounding outsourced services abound. 

In this post, we will highlight seven of the most common myths about outsourced bookkeeping services.  

An important aspect of small business growth planning is understanding and managing your cost of goods sold. Whether your business sells products or services, it’s important to know “what is the cost of goods sold?” for each item or service you sell. This number provides the basic information you need to promote small business growth.

If you’re looking for the green light to make your business more sustainable, consider this win-win scenario: not only is the adoption of green practices in the workplace better for the environment, it can ultimately improve your company’s profitability.

Starting a new business can be an exciting time, but it’s also a little scary. There are no guarantees your business will be successful. If you get a solid start and work hard, though, you might build a great enterprise. Here are some tips to get you going in your new start-up:

If you have a small business, you may not want to stay small forever. But how can you grow your small business? Some entrepreneurs think it's a natural process that will take care of itself. In reality, growth is like anything else in your business: it’s something you need to plan for.

As a small business, you may need financing to pay for inventory, overhead, business property and the other costs of owning and operating a company. However, larger banks may feel better-suited for corporations and larger enterprises. Where can a growing business go to secure the services and financing they need?

Your marketing message is the way you present your products or services to customers. Getting your marketing message right means communicating your unique offerings in a way that makes customers and clients want to do business with you.

So how can you make your clients and customers want to buy? You can start refining your small-business marketing message if you:

Applying for a small business loan may be essential to secure the funding for your small company. However, applying for loans can be a challenge for small businesses. You may not have the long years in business or the assets of larger corporations.

The tech sector is responsible for considerable job growth and is an important part of keeping our nation innovative and competitive on a global scale. Because of the importance of tech businesses, the government makes a number of funding options available for them — and you don’t have to be a big business to qualify. In fact, there are a number of grants and funding options specifically geared for tech professionals starting a small business.

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?