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By keeping all your accounting related documents together in one folder, you can help streamline processes like filing taxes and audits. Here is a recipe to save time by keeping all your documents in one organized accounting folder on your company’s server, including easy to follow directions, tips and tricks, and ingredients you need. Bon Appetit!

So your accountant is talking about “bank statement reconciliation.” He tells you that it means something along the lines of “reconciling bank accounts with financial reports,” “deposits and withdrawals,” and “truing up your transactions,” but all you hear is static. Here’s what he really means when he talks about, “bank statement reconciliation.”

You may think doing your own accounting is a great idea. In theory, it saves you money, you can be deeply involved in all aspects of your business, and can grow. However, this isn’t usually the case. Using an accounting service to handle your finances may be the best way to grow your Seattle based business. Here are just a few of the reasons why.

So, you’ve decided to outsource your accounting. There are so many different types of firms that specialize in so many different things. How do you know you’re making the right choice for your business? We’ve made your decision a little easier by putting together a list of five questions you should ask yourself while you search for your best match.

Okay, now Susan has a better picture of her business through understanding her profit and loss. But what if she wants a big-picture look at her business? What happens to her assets and liabilities? This is where a balance sheet, a report showing what a company owns and owes, comes in. Here we will describe the bare necessities of balance sheets.

It’s easy to think that accountants spend most of their time behind a computer analyzing data for clients they don’t get to know. What people don’t realize is that accountants spend sometimes years cultivating relationships with their clients. Over the course of five years, one accountants’ professional relationships transformed into a friendship.

An important part of guaranteeing success for your small business is setting up an accounting system that works for you. Getting started may seem like daunting, but it’s pretty straightforward. In this article, we will take you through setting up an accounting system for your small business, from creating a bank account to choosing the best software.

Most small business and startup owners aren’t familiar with the various accounting principles they should be following. Being aware of these simple-to-avoid mistakes can prevent lots of headaches in the future. Here is a list of common accounting problems you can avoid, from separating your personal and business accounts to recruiting professionals.

It’s hard to tell how well a business is doing solely from sales, but your profit and loss may give you a more complete look at how it’s doing overall. P&L statements tell you how much money you make and how much money you spent in your business. Let’s look at some ways you can better understand your profit and loss statement.

Whether big or small, businesses can’t always accurately predict what’s going to happen in the future. However, through proper business forecasting, your business can for the most part run smoothly and avoid some problems that can come along the way. Let’s examine some things you can do to better your business’ chances in the future.