OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Claiming Dependents: Adult Children, Parents and Non-Relatives
June 3, 2015 by Ed Becker
With the recent recession and the tougher job market, many families are faced with having adult children come home to live after college or stay at home longer while they go to school or look for work. Elderly parents also may need care or assistance at some point. Even your significant other and/or their child […]
Common Scams Against Small Businesses
May 27, 2015 by Ed Becker
As a small business owner you already have to wear many hats, being a security guard against scams and fraud is just another role that you have to play. It is imperative that you continually keep track of your finances, your employees, and the vendors that you pay. Checks and balances in your accounting and […]
Outsourcing Payroll Pros and Cons
April 30, 2015 by Ed Becker
When your business starts to grow and you have more than a couple employees, you may think about outsourcing your payroll to a service provider. Everyone has heard of ADP and many large and small companies use such services. But how can you know if it is right for your company? Here are some pros […]
Accounting Mistakes Made by Small Businesses
April 24, 2015 by Ed Becker
1. Not knowing the difference between cash flow and profit Many business owners look at the profit line and wonder why their bank account is not anywhere close to the same amount. Cash flow and profit are two very different things. Profit is revenue minus expenses, for a specified time period. Cash flow, and cash […]
Bookkeeping Basics for Small Business
April 24, 2015 by Ed Becker
1. Cash/ Cash Expenditures Cash and cash expenditures are the most important bookkeeping items in any business. Cash is the basis for everything that comes in and goes out of your account. Many times two journals are used: cash receipts and cash disbursements. This helps keep very close track of the ingoing and outgoing cash, it […]
Importance of Cash Management
April 9, 2015 by Ed Becker
Cash management and cash flow are two of the scariest things for any business to control. Improper cash management can lead to excessive debt or even bankruptcy. Lack of cash management can potentially put small businesses out of business. because they do not have good cash management. What is cash management? “The corporate process […]
10 Helpful Hints for QuickBooks
February 23, 2015 by Ed Becker
It is always great to find shortcuts and helpful hints to make work easier and faster. QuickBooks has many keyboard shortcuts you can learn, as well as some other helpful shortcuts that make it easier to navigate or find information without leaving the screen you are working in. Here are 10 to get you started: […]
Benefits of Outsourcing
January 28, 2015 by Ed Becker
What is outsourcing? Outsourcing is the allocation of processes or tasks to an external person or company that does not share an interest in your company. Usually outsourced work is on a contracted basis for very specific or expert tasks. There is often a stigma associated with outsourcing which sometimes causes companies to delay outsourcing […]
