What is the cloud in relation to your accounts? Basically, it's an online version of accounting software. The big players (Quickbooks, Xero, Sage and Kashflow) have their own versions, and there are some others out there, too. You usually pay a small monthly subscription to access the software, rather than pay a large sum for the license outright. So, why should you move … [Read more...]
Don’t Underestimate the Value of Accurate Financial Reporting
If a business ever needs a loan, line, lease, partner, or an investor, financial statements will be requested (in addition to a pull of their business and/or personal credit scores and history). This information is used to determine risk and whether the business has enough resources available to manage and pay back a loan. Here’s the problem: most small business owners have … [Read more...]
3 Accounting Terms Your Business Can’t Live Without
Avoided Accounting 101? Does the thought of interpreting financial statements make you cringe? You don’t want anyone to mislead you, or worse, take your hard-earned money right under your nose just because you didn’t understand key financial concepts. You need to be able to comprehend the importance of the accounting information that your CPA shares with you. Here are 3 … [Read more...]
Accounting Software for Small Business Owners – Xero
Last week, I published an article about the 41 business, marketing, and web tools I can't live without, and Xero was included on that list as the accounting software that I recommend. I've tried a number of accounting software tools -- both cloud-based and desktop -- and Xero is one of my favorites. Currently, Xero is offering Women on Business readers a special introductory … [Read more...]
5 Reasons to Outsource Your Payroll
Businesses are forever changing, whether it is through advances in technology or branching into new markets. However, one thing in business that will never change is the importance of paying your employees. While many businesses still choose to manage their payroll internally through manual bookkeeping or payroll software, more and more companies are seeing the benefits of … [Read more...]