Understanding income statements and balance sheets are a necessary function of running a successful small business. Financial statements refer to your income statement (also referred to as your profit and loss or P&L), balance sheet, and cash flow statement. Financial statements provide you with the ability to understand a critical part of your business’s performance.
What is the SUTA tax, and how does it impact my business? Well, when you started your business, you focused on sales and marketing. You know you need customers to grow. Soon after, the growth came, and your focus shifted to hiring employees to meet your expanding business’s demands. Employees can add significant challenges to
Cash flow is often misunderstood yet is critical to the success of any business. Cash flow issues are one of the most significant challenges small business owners face. 4 out of 5 businesses are likely to fail due to poor cash management. What is cash flow? Understanding your small business’s cash flow is one
Businesses of all sizes are learning how to function in an out-of-office structure during this pandemic. The challenges include the following to name a few: Maintaining current clients Acquisition of new accounts and business Keeping a healthy cash flow Functioning remotely, including sales, service, marketing, and accounting. Few companies are prepared to migrate their employees
We’ve all read about improving processes and how running an efficient business is important to become more profitable. But as small business owners, we are often caught up in the issue of knowing that we have a small staff and no matter how efficient we are, we will always need the same number of employees.
If you are like most small business owners, you may not know, or realize how much time you are spending on accounting and bookkeeping tasks. When we onboard a new client, we unpack their bookkeeping norms and tasks to determine how Expex will afford them more time to grow their business. How much is too
There is only so much time in a day, week, or month. Performing financial tasks requires a good deal of skill and a whole lot of time. So many small businesses are started from a strong passion and a desire to do something that the owner is passionate about. We are fortunate to have so
We hope you enjoyed the Bookkeeping 101 series. The topics are listed below so feel free to revisit them at any time. We know these are the things which many SMBs hate to think about! Performing bank reconciliations Reviewing financial statements Managing bill payments Filing sales tax returns Managing cash flow Reconciling credit card accounts
The 4th of July is arguably the kickoff to summer fun in the sun! Here in the Northeast, we are experiencing quite the heatwave putting us all in the mood for some summertime fun: Cookouts Fireworks Celebrations The offices of expex will be closed on Wednesday, July 4th only. We wish you and your families a
The bald eagle. A symbol of strength and independence. Many members of our company have current and past family members in the military. We thank them for their service. From all of us at expex, we wish you and your families a very safe and Happy Memorial Day. Enjoy the holiday weekend. Your team at expex