Accounting and Bookkeeping Principles Defined

Every small business owner should have at least some understanding of daily record-keeping practices and principles. Even if you hire an accountant to manage your books, you need to have a basic knowledge of how things work to ensure they’re being processed correctly. Here are some of the basic accounting and bookkeeping principles defined in simple terms. With the cash basis of accounting, income is recorded when its received, and expenses are recorded as theyre paid. The cash method does not take into account any accounts receivable or accounts payable.…

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7 Truths About Money

Many small business owners fear the money side of their business. This is a result of never really understanding how to keep track of it, and not knowing what the most important metrics are for tracking it. Some don’t want to face the financial truth about their company. Once-a-year accountants are not much help, since they speak in a jargon that small business owners do not understand. For their part, small business owners are embarrassed to ask questions for fear of looking stupid. Unfortunately, these actions often mirror what is…

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You Have Everything You Need Right Now To Have Your Best Business Month Ever!

I want to tell you a real-life story about a highly trained professional who made good money. But as her business grew, she felt a lot of extra stress, had days when she didn’t have enough cash to pay the bills and actually had LESS profit. Her business was growing, but she worked harder then ever before and was making less money. Two Hours Changed Her Business Life She had a service-based company with employees. When the company was small, she could keep all the figures in her head. But…

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Do You Know The Five Ways to Get More Cash From Your Business?

Increase sales seems like a no-brainer solution. In fact, its usually the stand-by answer when you’re looking for more cash in your business. But, it can actually create a bigger problem. More sales can also mean that you need to increase space (and rent expense), employees (and salary and payroll taxes), inventory (more cash out) and the like. Increasing your sales can very well mean you have less cash for awhile. In fact, businesses can go out of business if they increase sales too fast. There are five ways to…

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Change Your Password in QuickBooks Online and QBO Accountant

Have you ever created a Password that seemed like a good idea at the time, only later to struggle to remember what it is? Sometimes the more Amazingly difficult passwords become the more Amazingly difficult to remember. Or maybe you have noticed that just because the password makes sense on the keyboard, it doesn’t mean it makes sense on a smartphone App. Tip Are you using your phone app more? I use mine all the time and I love it ! So the other day when I had to pause…

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What is HandiFox Online?

HandiFox Online is a cloud based inventory control and sales management system designed for small to midsize businesses in a wide variety of industries. You can learn more about their app on Intuit’s Apps.com site. We are a software development company. Our apps name is HandiFox Online and we got published at the beginning of August on Intuits Apps.com. Our app helps SMEs set their inventory on the right path and free up time and human resources by automating warehouse and sales operations. The main problem we were trying to…

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