Though many small businesses use the terms “accountant” and “bookkeeper” interchangeably, these professionals actually provide very different yet complementary services. Bookkeeping refers to the process of recording, storing and retrieving financial transactions, while accounting refers to the systematic process of classifying, analyzing, summarizing, interpreting and reporting financial data. Working in
Why You Need to Track Profit Margins
You don’t need an MBA to know there are two basic ways to increase your profits: increase revenues or reduce costs. The smartest businesses implement marketing strategies and cost-cutting measures that do both, but far too many obsess so much over increased sales that they forget about the importance of
COVID-19 – Best Practice Tips for 2020
As the widespread practice of social distancing continues, many businesses have updated their policies for these unprecedented times. When the only certainty seems to be the unpredictability of this current situation, it can feel like there is a lot out of our control. As business leaders, we have some tried
