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Articles in Home | Accounting | Bookkeeping Title|Newest|Oldest How to Hire an Asset, Not a Liability  By : How to Hire an Asset, Not a Liability Finding the right employee to fill any position is important but it becomes even more critical when you are filling a bookkeeping position. This person is responsible for inputting & maintaining your valuable financial information. If it is not accurate, the repercussions could be devastating to your business! Not only could it cause problems with the IRS & State Government but also with vendors, customers, creditors, etc. If you hire the wrong person, it can cost you nearly 3 times that persons’ monthly salary to correct the mistake. Source: American Management Association Whether you are hiring a staff bookkeeper or a 3rd party bookkeeping service, you need someone in charge of your books who has the training and experience to get the job done right. But finding a quality bookkeeper can be a challenge – unless you know what to look for. FIRST, they need the right qualifications (resume) It’s important to understand that bookkeepers are not necessarily the same as accountants. An accountant’s job is to provide financial advice and prepare taxes ~ a bookkeeper’s job entails the day to day things like recording income & expenses, reconciling bank statements, processing invoices & administering payroll. The qualifications to look for in a good bookkeeper include: ACCOUNTING KNOWLEDGE - Many people think only an accountant needs accounting knowledge. The truth is anyone who has anything to do with your financial information needs an understanding of accounting and how the big picture all fits together. This will help to ensure that your records are accurate & it will save you a lot of money because your CPA won’t have to spend as much time “fixing” things before they do your taxes. EXPERIENCE - Although education & training are important, there is no substitute for experience. A qualified bookkeeper may or may not have a degree in accounting - some of the best bookkeepers you’ll find don’t. In fact, hiring someone that has only completed a couple of bookkeeping courses and has no actual bookkeeping experience is a recipe for disaster. TECHNOLOGICALLY COMPETENT - You want to keep your books on a computer, not by hand, so ensure that your bookkeeper is competent in using a computerized bookkeeping program like QuickBooks. FAMILIAR WITH INDUSTRY - Having a bookkeeper that is familiar with your industry will shorten the learning curve & provide better details. Companies Avoid Legal Complications by Using Online Bookkeeping Services  By : Christine Harrell Company owners are often confused by the tangled web of business and financial regulations. Using online bookkeeping services that use highly specialized accountants relieves the company of much of the burden of following frequent regulatory changes. Maximize Your Chances Of Success By Fully Funding Your Goals  By : Glen Smith How to fully fund the sporting, talent, hobby or business goal that seems to keep eluding you Is Your Accounting Staff Able to Take You to the Next Level?  By : Margot Brandlin When your company is just beginning, you're not necessarily thinking about the talents and skills your employees are going to need in the years to come. At first, you just focus on surviving, and that sometimes means that you're willing to hire just about anyone who will work at the pay level you can afford. Bloated File Cabinets, Where to Store the Hard Stuff  By : Art Gib Modern electronics and the advancement of microcomputers has allowed vast amount of data storage capabilities. The whole Library of Congress can be stored on a hard drive these days. However, hard copies have not yet seen their demise. Proper storage and security for these too is paramount.copies have not yet seen their demise. Proper storage and security for these too is paramount. Budgeting - Where Do I Start?  By : Eddie Lamb The thought of putting yourself and your family on a budget can often feels overwhelming for many. The truth of the matter is that not having a budget, operating with financial blinders on, is much more overwhelming than creating and sticking to a budget. Financial Modeling - Murder By Numbers  By : John Siegler Financial modeling can help you avoid potential rough spots in your business and anticipate areas of growth. This article teaches quick ways to do both. Getting Control of Your Finances with a Cash-Based Budgeting System  By : Jerry Work If your finances are out of control and your debit card is burning rubber, then this article describes a system that can help you get things under control. Budget Is Not A Bad Word  By : Eddie Lamb Sit amongst a group of friends and associates and mention the word budget, and suddenly everyone has somewhere else they need to be. Usually no one wants to talk about budgets, no one wants to think about budgets, and no one wants to follow a budget. How To Stop Arguments About Money  By : Glen Smith How to seperate money for specific purposes to stop the arguments over money in a family Household Budgets: The Secret Weapon in the War on Debt  By : Jerry Work Sticking to a budget can have a profound impact on your life. You can get out of debt quicker, take control of your finances, and feel better about yourself. Here's a quick primer on how to do it. Do I Need An Accountant To Create A Business Budget?  By : Eddie Lamb I'm a big fan of accountants, but that's mostly because I don't like taking the time to figure things out. When it comes to money, I'd much rather listen and follow the advice of an expert than to try to learn it on my own. Download FREE collection of quality eBooks  By : payxander Search something from that? Don't Put Off Tax Planning  By : Margot Brandlin It seems almost cruel to bring up the topic of taxes this far in advance of year-end, but now is the time of year when smart business owners are thinking ahead and making adjustments that will minimize the number of dollars that go into Uncle Sam's pocket on April 15. Managing Receivables Can Help You Be Profitable  By : Margot Brandlin To be successful in business you must be paid in a timely manner. If you're like most businesses, you sell on credit-asking your customer to pay an invoice within a set time, like 30 days. During those 30 days you are essentially lending money to your customer, with the expectation that you will be paid back. It is only when that invoice is paid that you have the cash you need to run your business. Cost Savings from Computerized Accounting are Not What They Should Be  By : Michael Sack Elmaleh Considering moving from a manual accounting system to a computerized one? Don't expect to save any money. Here's why. What Is Customer Relationship Management?  By : Derek Both Customer relationship management (CRM) is an important part of any business in order to keep clients happy. The Importance Of Risk Management  By : Derek Both Risk management for business is a very important aspect of any company. This is because it identifies and treats any risks that an organisation may face. Small Business Accounting Software Equals Simple Bookkeeping Spreadsheets  By : Terry Cartwright There is a major difference between sophisticated accounting software used by larger businesses for financial control purposes than is required for small business where a simple bookkeeping spreadsheet is sufficient. Bookkeeping Services: Get the Right Services for your Business Needs  By : Ken Fry The selection of a bookkeeping service offers many options. The advent of online services can be beneficial for some businesses. Reliable Debt Cures You Can Trust  By : Tyler James Ellison Many scammers are promising so called secret methods to get you out of debt. Here are some free proven methods of debt cure. The Importance Of Risk Management  By : Derek Both Risk management for business is a very important aspect of any company. This is because it identifies and treats any risks that an organisation may face. What Is Customer Relationship Management?  By : Derek Both Customer relationship management (CRM) is an important part of any business in order to keep clients happy. Basic Bookkeeping For Small Business Can Save Money  By : Terry Cartwright Every business is required to keep a set of financial records to enable those accounts to be submitted and the tax payable calculated. Bookkeeping is the prime stage in keeping those books and at its most basic level does not require high levels of accounting knowledge and experience and accountant fees can be saved. Deciding Between Bookkeeping Software And Bookkeeping Services  By : Terry Cartwright All small businesses have to choose between keeping manual records of financial transactions and the benefits, advantages and disadvantages of utilising bookkeeping software and or employing bookkeeping services for this purpose. The correct choice will vary from business to business but a choice should be made to achieve the best financial performance. Bookkeeping Software Spreadsheets Are Essential Small Business Accounting Tools  By : Terry Cartwright Accurate financial records must be kept by every business and bookkeeping software spreadsheets can satisfy this requirement. Further by adopting a simple accounting system the small business can use the bookkeeping spreadsheets to both manage financial control over the business and complete the essential task of reporting for tax purposes. Financial Control Under A Self Employed Single Entry Bookkeeping System  By : Terry Cartwright Single entry bookkeeping is an accounting practise that can be employed by small business and in particular self employed business where a balance sheet is not required for financial control or tax purposes. A self employed bookkeeping system is basically the production of an income and expenditure account to produce a net taxable profit for tax purposes. Why Bookkeepers And Accountants Use Double Entry Bookkeeping  By : Terry Cartwright Double entry bookkeeping is the technique employed by accounting software to accurately record financial transactions stretching back hundreds of years Double entry bookkeeping means every financial transaction has an equal and opposite effect which is checked using a trial balance prior to producing a profit and loss account and balance sheet. Why Use A Tax Consultant?  By : Derek Both Tax can be a tricky and confusing subject - are you paying too much? Too little? Are you on the right tax code? These are the very reasons why so many companies hire tax consultants London. What Is Supply Chain Management?  By : Derek Both Supply chain management software UK can help a business with the day to day running of their business in order to make it easier and more effective. Double Entry Bookkeeping Versus Single Entry Bookkeeping  By : Terry Cartwright Bookkeeping is the function of recording the prime financial documents of a business usually by a bookkeeper or accounts clerk. The bookkeeping system adopted has to be based upon double entry principles for all limited companies but a single entry self employed bookkeeping system for smaller organisations can be adopted if a statement of assets and liabilities is not required. Customer Relationship Management For Businesses  By : Derek Both No matter what business you're in, unless your customers are happy, you won't succeed, and this is why Customer Relationship Management (CRM) is so important. What Does A Financial Planning Consultant Do?  By : Derek Both Financial planning is important to any business for many different reasons. Advantages Of Using Accounting Software  By : Derek Both Whether you are a large business or a small business there are many advantages of using Sage payroll accounting software. Mortgage Refinancing Gone Wrong - Todays Credit Crunch  By : Ryan Kaufman Mortgage refinancing is a good move in most cases and can be very beneficial for the home owner. On the other hand, mortgage refinancing can go wrong and the reality is you might end up with a new agreement that is worse then the previous one. Financial Modeling: Murder by Numbers  By : John Siegler Effective finacial modeling can make or break your new or existing business. Avoid the traps most entrepreneurs make when planning for the unexpected. A Royal Road to Frugal Living  By : Peter Cole Here are some tips and pointers to reducing your spending and living more frugally. How to Eliminate the Frustration from a Small Business Owner  By : Luda Iazykova The mostly of small businesses owners have worries and concerns regarding their company finances. The fact is there and still do they need go to the professional accountant? The longer they delay their visit the more it will cost them. Secrets of the Family Budget Plan  By : Andrew Bicknell With the rising cost of everyday items today creating a family budget plan is becoming more and more important to keep track of where your family's money is going. Making your money work for you is the ultimate goal of any budget, but you need to be patient if you have never made a budget before. 7 Tips for Creating a Family Budget  By : Andrew Bicknell For many people creating a family budget is an exercise in frustration. Where to start, how to set it up, should I use budgeting software? Are all questions that nearly everyone asks. Learning how to Budget Money  By : Andrew Bicknell As we grow from children through the teenage years and into young adults we are taught many things, both from our parents and through school, but the one thing the vast majority of people are never taught is how to budget money. Keeping a proper budget and tracking what your money is doing is the best way to stay out of debt and build wealth. Why You Need Money Budgeting Software  By : Andrew Bicknell With the credit card society we live in today keeping accurate track of expenditures is very important. People forget that they are spending money when using a credit card and in most cases those who use credit cards spend 18-20 percent more on a purchase then if they were using cash. In the end they end up spending more then they can afford. How to Choose the Perfect Tax Attorney  By : Craig Rad Many of us needed, at some point in our lives, a tax attorney. Our finances and taxes are not an easy matter, so we'd better select the perfect attorney to do the job. Here are some efficient tips on how to select the best attorney. The Facts About Medical Billing Companies  By : T J Madigan The service offered by medical billing companies serves as the key for a doctor, or any healthcare provider for that matter, to get paid. The healthcare industry in America is alive and well, but in spite of this, many doctors and other healthcare providers dont have any idea how to get themselves paid quickly and efficiently. Track Transactions With Accounting Code Guide Basics  By : Ben Franklin The COA is used to classify transactions as income, expenditure, assets, liabilities and equity. Your Home Business Budget Foundation  By : James Lowe How to manage your time and money so you can be the best you can be Your Home Business Tax Deductions  By : James Lowe Tax keeping records are an important part of your business that should be maintained, very carefully, year round and here are some hard core tips on how to do it. Understanding Account Reconciliation  By : David Gass Describes the process of checking your account records with the banks account records. Understanding Bank Reconciliation  By : David Gass Descibes the process of keeping your account records in line with the banks' account records. Michael Jackson's Fiscal Disaster  By : Jaci Rae How can music mogul Michael Jackson, a main stay in the music industry for decades and known to be one of the most successful artists in history go bankrupt? Advice to Michael and the masses on how to avoid bankruptcy court. Computerized Bookkeeping Is Fast, Simple, and Flexible  By : Ray La Foy More and more people are turning to computerized programs for keeping money in check. The reasons for this are many. Another 7 Easy Ways To Save Money  By : Brian Baldwin In our last article we focused on a few ways to save money. This time, you'll find a few more ways to save money and maybe a couple that you didn't think of. As always, it's not my intention to make you a cheapskate, but rather to give you the choice of where to spend your money instead of wondering where it went. 7 Easy Ways to Save Money  By : Brian Baldwin	Sign Up for a free account or learn more. 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