information for business owners

Onlinebookkeepingservice is more than just bookkeeping advice

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The Comprehensive Guide to Setting Up a Nonprofit

The Comprehensive Guide to Setting Up a Nonprofit

Perhaps you’ve dreamed about running your own nonprofit, and you’ve finally reached a place in life where you can make it come true. It’s important to do your research before starting this process – getting a nonprofit off the ground takes a lot of work! Thankfully, you can rely on services like Reconciled to simplify bookkeeping and other financial processes with QuickBooks. Here are some basic steps you’ll need to take in setting up a nonprofit.

5 Ways You Can Get Your Company Out of Debt

5 Ways You Can Get Your Company Out of Debt While Building Your Financial Health for the Long Term

If you operate one or more businesses, you may have taken out loans and other types of business debt to finance your operations.

Although this is a common route for business owners to take, if you’ve accrued excessive amounts of debt, you may start to feel the pinch in your daily operating budget. Fortunately, you can address your accounting issues with the help of Reconciled. Then, you can get your business out of debt while building long-term financial health for the company. Whether your headquarters is in Burlington, Vermont, or Tampa, Florida, these five tips may help.

A detailed approach to finances can help you avoid tax troubles

A Detailed Approach To Finances Can Help You Avoid Tax Troubles

Fiscal management is a major component of small business ownership.

Even if you outsource in this area, knowing the ins and outs of your company’s finances and being educated enough to double-check your ledgers will help ensure you always know the financial health of your business. This is especially important when it comes to paying taxes, managing a budget, and being prepared for unanticipated financial issues. Reconciled can help with your accounting and bookkeeping to help you avoid tax troubles.  

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.

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