information for business owners

Onlinebookkeepingservice is more than just bookkeeping advice

Category: Bookkeeping

Our Favorite Bookkeeping Tech Stack

Our Favorite Bookkeeping Tech Stack

Bookkeeping might seem like a lot of paperwork, but it doesn’t have to be so manual and difficult.

The bookkeeping tech stack we use for our clients makes it easy for them to keep their bills, invoices, and receipts organized. Also, it allows us to get data in a more real-time manner. This lets us give our clients the most accurate books possible! Here are some of our favorite apps from our bookkeeping tech stack.

Cash Flow Problem or Operational Issue?

Cash Flow Problems? Maybe it’s an Operational Issue.

Low product levels and cash flow issues don’t always come from an accounting underlying issue – sometimes it’s an operational issue.

Tim in marketing suggested that the company run a month-long sale on your most popular product. You happily agree and start allocating funds to run a successful ad campaign to promote your sale. 

Two weeks in, your sale exploded, but you’ve run out of your inventory.

 

What qualifies as R&D expenses?

What Qualifies as R&D Expenses?

The Research & Development Tax Credit (R&D tax credit) is a dollar-for-dollar federal tax credit that incentivizes the development of new or improved products or processes.

Potentially any company that performs “qualifying research activities” (QRAs) on U.S. soil can take advantage of the credit. R&D expenses that qualify for the R&D tax credit are known as qualified research expenses or qualifying research expenditures (QREs).

What is a cost segregation study?

What Is a Cost Segregation Study, and Why Plan One Now?

Cost segregation is a tax planning strategy that reduces federal income tax liability.

It does this by accelerating the depreciation of commercial building costs. It can be a smart way for businesses to make their real estate investments work for them sooner rather than later. So, let’s look at the cost segregation process and the benefits of doing a cost segregation study.

How much do bookkeeping services cost?

How Much do Bookkeeping Services Cost?

Bookkeeping services are important.

Not only does it allow your books to be maintained by a professional, but you also get a clear picture of a business’s financial state. So, how much do bookkeeping services cost?

On average, bookkeeping services cost between $500 – $2,500 per month, but it depends on your business’s needs. Your company size, number of monthly transactions, payroll needs, number of accounts to reconcile, and eCommerce channels are all factors to determine the monthly cost.

Do I need a bookkeeper if I have Quickbooks?

Do I need a Bookkeeper if I have QuickBooks?

You’ve realized that you need a software system to keep track of your business transactions, so you got QuickBooks.

Having a software app to keep track of all of your invoices, bills, receipts, and other transactions makes things tidy in your financials. Electronic records also make your life easier at tax time. But, you might be asking yourself “do I still need a bookkeeper if I have QuickBooks?”

What is Online Bookkeeping?

What is Online Bookkeeping?

Online bookkeeping allows an accountant or bookkeeper to provide their services to any business remotely.

While you might not think online bookkeeping is standard practice, it becomes more and more popular. It also has some real benefits for both businesses and bookkeepers.

Online Bookkeeping Defined

An online bookkeeper is allowed to complete their work remotely instead of physically being in the office. Other than the location where the work is completed, there aren’t any other differences. Online bookkeeping still uses financial software, like QuickBooks Online and Sage Intacct, to post financial transactions, create and review financial statements, and reconcile bank and credit card accounts.

What is included in bookkeeping services?

What is Included in Bookkeeping Services?

If you’re struggling to keep all the plates up in the air, you might be looking to outsource some of those job duties, like bookkeeping.

Trying to figure out what is all included in bookkeeping services can be a little confusing, but we’re here to help! Here’s a basic idea of what to expect when you hire a bookkeeping service.

A bookkeeper’s job is to record financial transactions. This is for accounts payable, accounts receivable, and sometimes payroll. Here’s a list of daily tasks.

What is the difference between an accountant and a bookkeeper?

What is the Difference Between an Accountant and a Bookkeeper?

When you’re looking for someone to manage your financials, you might find accountants and bookkeepers.

So, what is the difference between an accountant and a bookkeeper? How are you supposed to know which one is best suited for your needs? And, do any of their job duties overlap? Here’s some information, so you can make the right decision for your business.

How does virtual bookkeeping work

How Does Virtual Bookkeeping Work?

So, you’re thinking about hiring a bookkeeper.

You’ve done your research and you know what their job entails. You’ve also heard about virtual bookkeeping and have seen some options that look great for your company but aren’t sure if it’s for you. So, how exactly does virtual bookkeeping work, and could it be the right move for your business?

Small Business Bookkeeping Blog