bookkeeping knowledge

  • Bookkeepers Are All the Same!

    All bookkeepers are the same. They only do data entry. I will hire the cheapest bookkeeper I can find. Right? Wrong! Bookkeeping is more than data entry. If you want to throw your money away, engage the cheapest bookkeeper you can find. Here are 4 reasons why cheap bookkeepers are money wasters. 1. Lack of […]

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  • Do Accountants Laugh?

    A bit of fun. In a recent post by Mark Lee, check out his fun blog here, he posed the question “Do accountants laugh?” The Answers It depends on their clients. Only when they lose their balance. When it’s at someone else’s expense. Yes, when their balance sheet balances. As soon as you pay their […]

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  • Cash Flow

    What You Need to Know About Cash Flow

    Cash flow and profit are the same, right? Wrong. Your business can generate high profits and have poor, or no, cash flow. For example, your accountant says the business made a profit. The day-to-day reality is there’s no money for the payroll. Sound familiar? It sounds like a cash flow problem. What is Cash Flow? […]

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  • Bank reconciliation

    3 Important Reasons to Complete a Bank Reconciliation

    Why do such a tedious and time-consuming task as a monthly bank reconciliation? Banks are established financial institutions tasked with the care and management of your money. However, mistakes happen. The purpose of a bank reconciliation is used to compare your records to those of your bank, to see if there are any differences between […]

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