Separate Bank Accounts – An Absolute Necessity

There are certain benchmarks that a business owner must meet in order to be able to conduct their affairs on a serious, professional level.  Of course, establishing your legal business entity (sole proprietorship, partnership, LLC, corporation, etc) and getting your tax id / EIN are at the top of that list.  Just as important, yetContinue reading “Separate Bank Accounts – An Absolute Necessity”

Understanding the 3 major financial statements Pt 2 – Presenting The Big Picture

In part one, I gave an overview of the 3 major financial statements, what they are and their function.  I defined the balance sheet as the “what?” statement, detailing what you own (assets), what you owe (liabilities), and what your equity is.  I defined the income statement/profit and loss as the “how much?” statement, showingContinue reading “Understanding the 3 major financial statements Pt 2 – Presenting The Big Picture”

Understanding the 3 major financial statements Pt 1 -What? How Much? Where?

In bookkeeping, being up to date and accurate with recording transactions and general bookkeeping is obviously a huge and essential part of the job, but it is not the only important part of the job.  In fact, some would quite accurately say that this is only half of the job.  As a 21st century bookkeepingContinue reading “Understanding the 3 major financial statements Pt 1 -What? How Much? Where?”

Bookkeeping: Creating order out of chaos

When you think of everything that a bookkeeper does for a business, many things come to mind.  Bookkeepers keep track of all income and expenses, classify transactions into the right accounts, create financial statements, advise, assist with payroll and help with tax preparation among other things.  These are the specific tasks that are a part ofContinue reading “Bookkeeping: Creating order out of chaos”

Entrepreneurs, get rid of that “I can do it all myself” syndrome!

Being industrious, proactive, independent, hard working and (let’s be honest) having a fairly high opinion of one’s own abilities are tell-tale signs of the entrepreneurial type.  These are qualities that can be found in most business owners, as they would not have made the decision to set out on their own and start their own businessContinue reading “Entrepreneurs, get rid of that “I can do it all myself” syndrome!”

Establishing your brand! (Persistent and Consistent)

One of the most interesting things about attempting to run a successful business is getting more familiar with the concept of branding, and making your particular brand stand out and actually mean something. This is generally done through your actions within your business, as well as through clever marketing techniques. For me, branding is notContinue reading “Establishing your brand! (Persistent and Consistent)”