A business should produce accounting information, in the way of the year end financial statements and other financial data, because there are various groups of individuals who require this information so as to make decisions. The needs and objectives of these groups are often different, so what might be useful information for one group may be of no use to another. Read more
Accounting software is one of those pesky items that companies seem to upgrade every year. You buy the latest version and a year later the accounting software company starts harassing you about upgrading to a newer version. On top of it all, they want you to pay for the upgrade. This article will help restaurant owners decide when it’s time to upgrade.
The truth is, in most cases, you don’t need to upgrade your restaurant accounting software every year; contrary to what your software provider may be telling you. Read more
Business Mileage needs to be recorded at the end of each day and needs to start after the first appointment. Detailed logs are necessary in case of an IRS audit. Mileage is reimbursed at $0.55 per mile so a small error can equal large penalties. Many business owners log over 20,000 business miles a year and this tends to be one of the top 5 deductions for small businesses. Read more
Many of you may already be aware of these types of scams, but I want to share this anyway…..
Unfortunately, over the years, I accumulated some debt (that I am not proud of) and have been paying off gradually, however, I had received a few calls from so-called debt collection companies that somehow acquired certain bits of personal information (i.e. Read more
A credit card processing payment system can make a huge difference and is quite important in making you successful, regardless of the type of your business. If you are an online trader, then you have no other way but to offer electronic payments options to your buyers. Read more
With the beginning of the 2011 tax season upon us, you probably want to start thinking about your finances. But depending on your experience this last year, this may be the most important time to be thinking about getting your finances in order.
As an accounting firm, one of the most important things we like to emphasize is being organized with your company finances. Read more