— Comments Off on 5 Financial Numbers Every Small Business Should Be Tracking From Day 1 and Why

5 Financial Numbers Every Small Business Should Be Tracking From Day 1 and Why

By: Rich McIver

If you’re launching a small business, you’ve probably got some basic financials in mind; how much to charge, how much you want to take home each year, etc. But you probably haven’t set up any financial modeling or reporting.

Unfortunately, the first few months and years are actually the time you need to be tracking this information most of all. It’s the period in your businesses life where most decisions which shape the business for years to come are made, and without good financial data inputs those decisions are often left made on the basis of anecdotal evidence, or worse, gut instinct.

 

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Accounting nonprofits
— Comments Off on Differences Between In-House vs Outsourced Bookkeeping & Accounting Services

Differences Between In-House vs Outsourced Bookkeeping & Accounting Services

Many CEOs and owners rely on in-house bookkeeping and accounting to receive their financial statements each month because it’s what they’re used to. However, with technology advancements in recent years, traditional is not always best when it comes to managing your company’s financial standing.

 

In-house and outsourced services offer different workflows when managing the bookkeeping and accounting for your company. While we understand that outsourced bookkeeping and accounting is not right for every business, if it does fit your business’s needs, it can often cost less and provide more expertise than a traditional in-house accounting department. Below we outline a few differences between what in-house and outsourced bookkeeping and accounting services can offer your business.

 

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Accounting nonprofits