7 Common Payroll Challenges

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?

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

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 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

Six Financial Planning Tips For Business Owners

  The pandemic has brought many challenges with it, and those challenges have come with lessons – some harder than others. One of the hard lessons the pandemic has taught is the importance of rigorous financial planning. This topic isn’t easy for everyone, so we’ve got six tips to help you plan your finances: Have a Short, Medium, and Long-Term … Read More

Why Use Cloud Accounting – 10 Reasons For Making The Switch

Cloud computing – in all of its extraordinary forms – is here to stay. We wouldn’t be surprised at all to see basically all accounting software migrate to the cloud – it’s that efficient. Though there are some very slight disadvantages (we may write about those in another post because they mostly relate to host servers going down), cloud accounting … Read More

5 Tips For Your Firm To Survive Economic Uncertainty

Coronavirus is what’s sometimes referred to as a “black swan event” – something that suddenly and drastically affects the economy, characterized, in part, by its unpredictability and rarity. Your firm will need to take steps to survive. Each company will differ in exactly which steps to take, but the five tips provided below should help any firm, regardless of industry: … Read More

5 Tips That Operations Managers Can Use Today

Operations management is anything but simple, so the advice we give can only be somewhat generic. Nonetheless, these five tips should help you get your business operations running as smoothly as possible, no matter what your industry is. Make and Remake Your Production Plan When everything is going according to plan, your business may begin to wonder why they even … Read More

How To Grow A Social Media Following In 2020

Let’s start this post off with the bad news: there’s no guaranteed way to get a great social media following. This isn’t a get-rich-quick scheme type of thing. You want to grow your followers? You’re going to have to create engaging content, post it across multiple platforms, use analytics, engage with your followers, and create connections. Sounds good? Let’s dive … Read More

Tips To Manage Business Finances During The Reopening Phases Of COVID-19

How do you reopen your business during a global pandemic? There’s no easy answer. Your business may have to operate on reduced hours, and it may have to close down entirely again if case numbers spike. Uncertainty is always a fact of life for business owners, but right now the degrees of uncertainty are pretty intense. These tips will help … Read More