As a business owner, you may have heard various accounting terms thrown around, such as balance sheet, cash flow, and profit and loss statement. However, it is essential to have a clear understanding of these terms to make informed financial decisions for your...
Profit and loss
P&L Management for Small Businesses
P&L Management begins with understanding your financial statements, including the P&L statement. Most small business owners are pretty familiar with the P&L because it is required for bank loans and other financial transactions. The P&L clearly shows...
The importance of hiring the right bookkeeper
Many business owners, especially small business owners, wear many hats in the day-to-day functions of their business. Rarely is bookkeeping a passion or a skill set they possess. Hiring the right bookkeeper can make a difference in the financial management of the...
How your financial statements can guide you through these challenging times.
Let’s talk about the boring side of your business. Financial statements and cash flow analysis are things that may scare and intimidate business owners because they do not know how to use them. Businesses today are challenged in ways they have never been challenged...
The story of a nonprofit’s bookkeeping challenge
If you are like most nonprofit businesses, you are keenly aware of the financial and bookkeeping challenges it takes to successfully run your business. A nonprofit’s day to day operations are the same as any other business but you need to make especially smart hires...
What Can I Expect When I Outsource my Bookkeeping Services with Capital CFO+?
When you work with Capital CFO+, you’ll experience a number of benefits that will make your life easier as a business owner. Here are just a few benefits you can expect when you outsource your bookkeeping and financial services with Capital CFO+: Outsource Bookkeeping...
Top 6 Reasons to Outsource Bookkeeping
If you’re a small business owner or nonprofit leader looking to save both time and money, there are a number of reasons why you should outsource bookkeeping. Here are six benefits to outsourcing your bookkeeping: More time for your business. Because there’s never...
The Difference Between Bills, Invoices and Statements
As a business owner, invoices are sent to customers who are not paying immediately after a job has been completed or a service was provided. Customers will be paying at a later time and an invoice is sent to break down the cost owed to you. A bill is money owed to a...
Presenting financials
After carefully tracking and accounting for all transactions, a presentation of the financial statements helps business owners stay on top of their financials. It is helpful to start with the balance sheet, move on to the income statement, and end with your cash flow....
Tracking for grants
Grants need to be accounted for at all times and many organizations do not realize that it is necessary to establish proper and transparent accounting practices in order to manage grants and continue to receive them. All income and expenditures from the grant need to...