Category Archives : Bookkeeping

Want to Make Next Year Your Best One Yet? Then Get Started on These Bookkeeping Tasks Early.

On November 13, 2017, Posted by , In Bookkeeping, By ,, , With Comments Off on Want to Make Next Year Your Best One Yet? Then Get Started on These Bookkeeping Tasks Early.

With just over six weeks until 2018, it is time to start making plans to accomplish critical bookkeeping tasks. For a small business, this can be a great deal of work. Get a head start by tackling these tasks in the final months of 2017! Review Your 2017 Books Of…

Cash Accounting vs. Accrual Accounting

On October 8, 2017, Posted by , In Bookkeeping, By ,,, , With Comments Off on Cash Accounting vs. Accrual Accounting

Even if you don’t handle your own financial reporting, it is vital for you to know the difference between cash and accrual accounting. The variance lies in the timing of when sales and purchases are recorded, but the method you choose can significantly impact your taxes. Cash Method When using…

Take Control of Your Bookkeeping This Year

On February 8, 2017, Posted by , In Bookkeeping, By , , With Comments Off on Take Control of Your Bookkeeping This Year

Every January you promise to get your bookkeeping under control, but the reality is that you are just too busy, right? You’re too busy, you don’t enjoy it, and you don’t see much value in it. That means that every year your bookkeeping is pushed to the back burner until…

The Value of Monthly Bookkeeping

On January 19, 2017, Posted by , In Bookkeeping, By ,, , With Comments Off on The Value of Monthly Bookkeeping

We get many prospects this time of year who believe bookkeeping is only beneficial for filing taxes. Typically a small business owner will come to us and say something along the lines of “I need a bookkeeper so I can file taxes.” BOSS can, and will, certainly assist in catching…

Bookkeeper or CPA? Here’s What to Know.

On December 1, 2016, Posted by , In Bookkeeping, By ,, , With Comments Off on Bookkeeper or CPA? Here’s What to Know.

Many small business owners consider hiring a professional to help them understand the financial responsibilities included when owning a business. For many individuals the terms “bookkeeper”, “Accountant”, and “CPA” are interchangeable. However, there is a difference between these positions. Bookkeepers The term “bookkeeper” is a literal one: A bookkeeper keeps…

Make Financial Statements Useful With These BOSS Tips!

On August 4, 2016, Posted by , In Bookkeeping, By ,, , With Comments Off on Make Financial Statements Useful With These BOSS Tips!

Knowing how to work with the numbers shown in a company’s financial statement is an essential skill for small business owners. Yet, too many of them have financial statements that are not useful for decision making, inaccurate, or are generated so late that they are no longer relevant. Luckily, the…

Balance Sheet vs P&L – What’s The Difference?

On July 28, 2016, Posted by , In Bookkeeping, By ,, , With Comments Off on Balance Sheet vs P&L – What’s The Difference?

Balance sheets and income statements (P&L’s) are the two most important reports business owners need to run their business efficiently. These reports aid in measuring the performance and financial health of the company, and it is vital that these reports are accurate when making certain decisions. While both statements are…

How Much Should a Small Business Owner Pay Him/Herself?

On July 21, 2016, Posted by , In Bookkeeping, By ,, , With Comments Off on How Much Should a Small Business Owner Pay Him/Herself?

For most small business owners, their own salary is one of the easiest expenses to overlook, with only about 51% actually getting paid. If you’ve started a small business, it is important for you to know that your time is valuable, but it will come with many questions. When should you start paying yourself? What do…

FAQ About Outsourcing Your Bookkeeping to The BOSS

On July 14, 2016, Posted by , In Bookkeeping, By ,, , With Comments Off on FAQ About Outsourcing Your Bookkeeping to The BOSS

The day-to-day details of running a business can leave you little time for finding the help that can make your job easier. That’s why you need BOSS – Business Operations, Services and Solutions. The BOSS team provides value-based accounting and strategic planning services to local businesses. We support you by…

Meals and Entertainment: What’s Deductible, and What Isn’t.

On June 30, 2016, Posted by , In Bookkeeping, By ,, , With Comments Off on Meals and Entertainment: What’s Deductible, and What Isn’t.

Just because there is a line item for meals and entertainment, certainly does not mean every dinner or theater ticket is a valid deduction. Although there is a range of expenses that could fall under this category, there are a few rules when it comes to the IRS seeing these…