7 Common Payroll Challenges

going over the payroll sheets to ensure everything is in good order

Payroll is one of the more complicated elements of business finance and accounting. We’re going to go over a few of the common challenges you might experience when dealing with payroll, and how to tackle those challenges: Employee Classification Is the person working for you an employee or a contractor? You have very different responsibilities to the two. When you … Read More

Are You Thinking Of Incorporating Your Small Business?

two people are planning on something and they are going over notes together

The decision to incorporate could be one of the most consequential you take as a business owner. Here, we’ll look at some of the pros and cons of incorporating your business, as well as a brief look at the process of incorporation: Why Should You Incorporate? One of the main advantages of incorporation is limited liability. Basically, limited liability means … Read More

A Beginners Guide To Self-Managed Bookkeeping

being your own bookkeeper

Bookkeeping is an essential element of accounting. There’s some amount of bookkeeping that you will, necessarily, have to manage yourself. Keeping receipts? That’s a part of bookkeeping. Filing them appropriately? That’s part of bookkeeping. Bookkeeping is, at its most basic, the task of compiling all of your company’s financial transactions and making sure all of the transactions add up. Any … Read More

How To Value A Business

how to value your businesss

How much is a business worth? Do you simply add up the business’s assets and call it a day? Of course not. That wouldn’t account for the intangible assets of the business, like knowledge and expertise. Do you simply look at a business’s current revenue stream and call that its value? No – that calculation fails to account for peaks … Read More