Today, most bookkeeping is performed by humans, but with the advent of AI (Artificial Intelligence) and RPA (Robotic Process Automation), the future of bookkeeping is changing very quickly. Computers are taught how to perform bookkeeping tasks, …and they do them quickly and…
Small businesses fund their operations from cash generated by the business. While some companies accept their customers credit cards for payment, others invoice their customers or send a monthly statement. This is referred to as selling on credit because you…
Bookkeeping has traditionally been a task-oriented process that require an understanding of how and when each task needs to be completed. This culminates in the completion of financial statements that can be reviewed for performance, risk, trends, and a host…
The coronavirus has abruptly affected our businesses, some more than others. Small and medium sized businesses have experienced closures, reduced hours, layoffs, and furloughs. As a result, SMB’s will need to think differently to be successful in the post COVID-19…
If you are like most business owners, you are barraged with social media ads, email campaigns, and invitations to webinars telling you the next greatest thing you need for your business. You stop and think about some, and totally pass…
Many of our clients are small and medium sized businesses faced with numerous large challenges. They live and work to make their business successful yet without resources, many small businesses struggle to grow and make a profit. What are the…
Let’s start at the beginning. What is a balance sheet? Even the most confident and experienced business owners stumble when we talk about the balance sheet. Don’t over think it: A balance sheet is a statement of assets, liabilities, and…
We recently completed our Bookkeeping 101 series for the small business owner. There seems to be one underlying message throughout the series and it is all about managing cash flow. Managing cash flow is always an important part of managing…