I always love looking back to see which blog posts we share are the most popular with you, our readers. So, today, I’m sharing our top three accounting blog posts. So, sit back, grab a beverage (coffee, tea, wine…no judgments here) and see what you’ve loved to read or have missed.
In this blog post, we share five things that your small business should do at year end to avoid any post-holiday stress. I know it’s only June, but I would recommend reading this post now, so you can see what tasks you will need to do in just a few months. Also, one of our big recommendations is to get your bookkeeping up to date and you can do that right now – no need to wait until December!
Tom had the opportunity to speak at the Tuesdays Together DC event back in March and one of the topics he covered was methods for good record keeping, especially related to your business finances. In this post, we shared his tips on how to get a handle on your bookkeeping. One of the most popular items was to track true revenue, less fees, not the net amount. For example, if you had a $100 sale and $4 was deducted for processing fees, make sure you enter $100 in revenue and $4 in processing fees as expenses, instead of entering just $96 in revenue. If you don't do it that way, you lose the ability to track processing fees and you are understating your revenue.
I think the reason why this post has been the most popular is that, at some point, all small businesses are going to have to hire an accountant to handle the bookkeeping and other financial tasks. In this post, we shared five questions you should ask when hiring an accountant. I loved the question that explained the difference between a CPA and business accountant. Business accountants that are not CPA's tend to understand the day to day operations of your business better and are more effective partners to helping you run your business effectively. If you are looking for an accountant to handle bookkeeping, budgeting and cash flow projections on a monthly basis, then an accountant is a great option.
So, there you have it…our top 3 accounting blog posts. Hopefully, your favorite post was here. If not, comment and tell us which one you have thought was the most helpful. We’d love to know!
Written by Allison Barnhill, co-founder of Business by Barnhill