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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Accounting Principles 101, Part 4

November 14, 2019 by OSYB Staff

Here are some financial terms that Intuit QuickBooks shares that you should get well-acquainted with for when you implement accounting principles in your business: Accounts payable – monies owed to vendors and creditors Accounts receivable – monies owed to the business from clients and customers for services rendered to products sold Amortization – process of […]

Accounting Principles 101, Part 3

November 12, 2019 by OSYB Staff

Though only public companies are required to follow Generally Accepted Accounting Principles (GAAP), it is wise to follow them. if you have even a tiny inkling of going public. Changing over from non-GAAP to GAAP standards is quite time consuming and challenging. Intuit QuickBooks shares some GAAP principles that you should know and implement: Matching […]

Accounting Principles 101, Part 2

November 7, 2019 by OSYB Staff

Intuit QuickBooks shares that the “Financial Accounting Standards Board (FASB) establishes a set of Generally Accepted Accounting Principles (GAAP) so that businesses in the United States can maintain uniformity with their financial information”. Do keep in mind that only public companies are the only businesses required to abide by GAAP. If you are a small […]

Accounting Principles 101, Part 1

November 5, 2019 by OSYB Staff

Did you know that there are rules and regulations about how to keep your financials? Intuit QuickBooks shares that “the Financial Accounting Standards Board (FASB) establishes a set of generally accepted accounting principles (GAAP) so that businesses in the United States can maintain uniformity with their financial information”. Start with knowing that there are two […]

Funding for Women Entrepreneurs

October 31, 2019 by OSYB Staff

Intuit QuickBooks shares that ” One 2019 survey shows that women business owners are 43% more likely than men to be concerned about limited access to money or funding.” Funding obstacles are every business owner’s headache and women in business have an even harder time. Here are 3 possible reasons why: Data shows that venture capital […]

Bookkeeper or Accountant?

October 29, 2019 by OSYB Staff

If you are in a quandary about hiring a bookkeeper or an accountant, Intuit QuickBooks shares some information that may help you decide. Briefly, here are some steps that are needed in your accounting cycle and your financial professional should perform all of these steps: create a chart of accounts and keep it up-to-date maintain […]

Small Business Owners, Don’t Fall for these Money Traps

October 24, 2019 by OSYB Staff

Spending business dollars wisely is vital for the success of your company. Intuit QuickBooks shares 7 areas that are common for over spending: Staffing – retaining more staff than necessary – consider contracting support services, and hiring independent consultants for projects. Unnecessary business subscriptions – audit business subscriptions regularly and retain only those that are […]

Starting Up? Looking for Strong Employees?

October 22, 2019 by OSYB Staff

TechPluto shares some tips to boost your start-up small business by hiring the best employees to start working with you: Mission and vision should be strong and clear. It should be attractive to employees who know what they are looking for and want more than an ordinary job with good compensation. Share a vision and […]

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