Being a small business owner sometimes feels like a lonely job. Larger institutions benefit from retaining employees who you can lean on for their experience and advice, especially during stressful times like tax season. However, help is available for smaller companies too. A seasoned small business tax preparer can go a long way towards making you feel confident in your company’s finances while also saving you time and money.
Don’t wait until April
Make no mistake: tax preparation should be a yea...
The project-centric nature of construction accounting makes for some unique processes that either don’t exist or don’t play a large role in other industries. One of these is the process of job costing.
Basically, job costing is used alongside the accounting general ledger (G/L) to track and report transactions specific for every individual job the contractor takes on. While the G/L is used to track financial information across the entire company, the job costing process is used on a narrower scop...
Most businesses will, at some point, have to take out loans to finance major purchases. It is crucial that any company performing financing put plenty of thought and planning into its financing to ensure the company does not compromise its own financial health.
Here are a few examples of some of the most common financing mistakes businesses make and what you can do to avoid them.
Borrowing more than the business can afford
This is one of the most common mistakes business owners make with their fina...
Outdated or obsolete technology makes your business inefficient. Just as many things in our lives need updating from time to time – from slow technology to the apps on our phones – you also need to look at how you can update your processes to improve your business.
Some companies may not update their processes because they think they can’t afford to buy some fancy new invoicing software or pay a bookkeeper to manage payroll. Others simply may not be aware that better options are available.
Winter is often a slow time for contracting companies. Between poor weather and weeks of family holidays, some businesses may be tempted to close up shop until the spring. Don’t let foul weather foul your business!
Below we explore a few ways your business can stay productive and profitable during the quieter winter months, from offering new services to performing some “winter cleaning.”
Offer winter services
Just as you offer services prime for summer makeovers, think about which services you ca...