OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Do I Hire a Bookkeeping Service Or A Bookkeeper?
May 27, 2012 by Ed Becker
Let’s assume that you decided to hire a bookkeeper as opposed to a bookkeeping service like Outsource Your Books LLC How would you interview and select such a bookkeeper? There are many variables involved that you as a business owner may or may not be capable of making. Recruiting is more of an art than […]
I Am Behind In My Bookkeeping, Now What?
May 19, 2012 by Ed Becker
Let’s assume that you are 12 months behind with your QuickBooks tasks. You haven’t entered data, reconciled the bank accounts or done anything of substance. Your CPA is asking for year end information to make estimates. Your Accounts Payable and Accounts Receivable are outdated and you don’t have the smallest idea if you are making […]
Avoid Risky Business – Review Your Bank Statement Monthly
May 15, 2012 by Ed Becker
A client of ours (before becoming a client) lost $118,000 because they weren’t reviewing monthly statements. I’m going to tell you this story – one that is all the more heartbreaking because the business (a bakery) was already on the brink – but first, some basics every small business owner should know (but many don’t): […]
Is QuickBooks Right For Your Business?
April 25, 2012 by Ed Becker
If you ask business owners why they chose QuickBooks for their bookkeeping needs, you get several basic responses. Some who say “I didn’t give it much thought but I have a friend who uses it.” Others will say “my CPA uses it” A very select group will who rationalized their decision: talk about features, ease […]
Is Your QuickBooks File Too Large and Slow?
April 20, 2012 by Ed Becker
Are you asking yourself “Why is QuickBooks slow?” If so, you’re not alone. Many businesses reach a point where their QuickBooks files become too large and too slow, turning daily tasks into tediously slow chores. The definition of “too large” in QuickBooks is not always clear. You can hit a ceiling based on the size […]
Don’t Be Part of the Headlines! – Accounting Fraud Scandal
March 29, 2012 by Ed Becker
For eight years, the woman worked in accounts payable for a Catholic Archdiocese, gaining the trust of her superiors. Colleagues praised her quiet dedication and hard work, and noted that she prayed often. No one questioned the hundreds of checks she wrote at the archdiocese to cover small expenses, like office supplies and utility bills. […]
Bookkeeper Madness – Does Your Bookkeeper Really Know What They Are Doing?
February 9, 2012 by Ed Becker
There’s no faster way to kill a business than to mishandle its finances. That’s why I’m surprised by how often small business owners hand their books over to a bookkeeper and simply assume everything will be OK. There are ways this assumption can really hurt your business. Plus, there’s an easy remedy. Bookkeeper Madness Mistake […]
10 Red Flags to Watch for When Reviewing Bank Statements
December 12, 2011 by Ed Becker
What’s the danger in not reconciling bank accounts regularly? Many small business owners simply log into their bank’s website for a quick review of cash balances instead of reconciling their accounts. Below, I’ll give an example of how relying on this quick case review can be a $100,000 mistake. Plus, I’ll give you 10 “red […]
