You may recall reading about the value of getting your business organized, but not all types of bookkeeping are the same.  Whether you choose to operate on the cash method or the accrual method, that decision can have a significant impact on your business, especially when it comes to tax time. Under the cash method of accounting, income is recorded when you receive payment for a sale or transaction, while expenses are recorded only when they are paid.  So for example, if you purchase a company … [Read more...]

Many people think of budgeting as little more than a necessary evil, but the topic doesn’t have to be approached with a negative attitude. Budgeting can be a powerful tool for seeing what your money is being spent on, as well as helping you plan for the future. Whether you are a small business owner or an individual saving up for your retirement years, stop putting it off--you won’t regret it. The primary goal of creating and sticking to a budget is to track the amount of money you can afford … [Read more...]