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How to Build your Small Business with Real-Time Results

Real-Time Data: The Trend of Today & The Future If you are currently building a small business in America, you might have what we like to call brain pain. But there is a solution, one that initiates growth, ensures your stability, holds customer retention, and helps you act upon your results in real-time. Real-time is the now, and AI is easing the headaches of bookkeeping on a massive scale. Let’s jump into the facts and figures behind how cloud bookkeeping can keep your business afloat. The Massive Monitor We get it. The volume of transactions on a daily basis in your…

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Best Bookkeeping Tips for Small Businesses
Accountant working at her desk checking figures on an adding machine, toned retro effect.

Best Bookkeeping Tips for Small Businesses

Love it or hate it, bookkeeping is a necessity for all businesses, large and small. Having the right bookkeeping tools is important to make this job as painless as possible. From bookkeeping apps to cloud bookkeeping services, it can be hard to know what the best practices are for today's business needs. We have compiled a list of important and timeless bookkeeping tips. No matter if you do cloud bookkeeping services or use some other tool, these principles will help keep your business finances straight. Choose a Method and Stick with it There are two main types of accounting methods: cash…

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Small Business, Big World

The Possibilities of Cloud Accounting Creating a business is exciting whatever your business may be, it is the child’s play of your mind come to life and that is exhilarating. It is good to play hard at your dreams, give yourself a pat on the back because not many people have the confidence and innovation to do so. It’s understandable that when bookkeeping comes in the picture some small business owners can become overwhelmed or frustrated, maybe even held back at times. But the fun does not have to be taken out of the very creation you love: your business. Cloud…

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How Technology Can Benefit Your Business By Cost Cutting

Integration Can Cut Labor Costs Across America If your business is having to swallow huge labor costs- you are not alone. The U.S. Department of Labor recently reported that labor costs are among the largest expenses a company might absorb. The average labor cost for businesses in the retail industry is around the ballpark of 10%- 20% of total revenue. In most cases, this number exceeds the cost of inventory on hand, making it difficult for your average mom and pop vintage store to stay afloat. Small Business Labor Costs Picture this: you walk into a vintage clothing store downtown in…

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The Fall of the Bookkeeper

Evolving in a Digital Era Everyone is wondering: Will AI replace jobs in the future? The hard evident answer is yes. It already is, and one of the first jobs to go was the bookkeeper. Tracking data has become so easy. If you own a restaurant, your register is connected to a platform which sends data to another platform with all of your payroll, inventory, taxes, inputs, outputs. One computer can now analyze the entire cost it takes to run your business day in and day out. It can tell you what your busiest days are, and who you clientele is.…

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Are You Keeping Track of Your Restaurant Budget Details?

How to Track The Details of Your Restaurant Budget When you are running a restaurant there are plenty of opportunities for things to slip between the cracks. Accounting Services and POS This is an important question! Your Point of Service (POS) system should be able to offer you at least payroll/timesheet integration, as well as offer you an extremely accurate breakdown of your sales. You should also be able to easily assess how much your wait staff are making in tips. If your POS system doesn’t allow for back-end accounting (and many of them don’t) then you should consider finding someone…

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Are You Losing Money By Not Claiming Depreciation?

See Where Claiming Depreciation Can Help You Save Many business owners just don’t want to deal with depreciation: it seems so complicated, and hiring someone to calculate it for you seems more expensive than what you could save. Keep in mind, though: if you don’t claim depreciation now you are choosing to forgo that deduction later. But does that mean it’s right for you? Eligibility According to IRS Publication 946, the official go-to for all things depreciation, these qualify for depreciation claims: Property you own (for example: a van you only use for your business, or a rental property whose mortgage…

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Are You Losing Money in Accounts Payable?

Manage Your Accounts Payable and Cut Loss Whether you are a small-business CFO who handles accounts payable yourself or you have an entire team dedicated to your billing and finances, it’s always worth it to make sure that you are employing the best approaches available. Make sure you have a system that actually works for you and don’t make these mistakes! Paying Early Isn’t Always a Good Idea Having a clearly defined pay schedule is almost always better than paying your expenses right off the bat each month. Why? It decreases the amount of liquid cash you have to deal with…

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How to Budget for Restaurant Upgrades

Manage Your Restaurant’s Upgrade Budget Your wait staff is good. Your bar is great. Your food? Amazing. You’ve painstakingly cobbled together every detail of your dream restaurant and now you’re assessing your budget and GASP! How much money will it cost to create that ambiance, that je ne sais quoi that keeps customers coming back again and again? Don’t worry. It’s totally possible to continually upgrade your restaurant without blowing up your business credit cards or destroying your business budget. Create a Gradual Upgrade Plan Whatever upgrades and wild visions you have for your establishment can be made possible. They are…

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