OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
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 […]
Self-employed and Want to Start a Retirement Fund?
October 17, 2019 by OSYB Staff
If you are one of the many joining the ranks of the self-employed, weave into your business goals a retirement plan. Keep in mind that it is never to early to start thinking of retirement and no matter how small the contribution is in the early years, it’s a good habit to start early on. […]
