Capital refers to the money you have to invest or spend on growing your business. Commonly referred to as «working capital,» capital refers to funds that can be accessed (like cash in the bank) and don’t include assets or liabilities. To calculate your burn rate, simply pick a time period (such as a quarter or a year).

The Successful Bookkeeper
Host Michael Palmer is a business coach and a long-standing advocate of firm owners. With nearly 300 episodes and counting, it’s no wonder everyone keeps tuning in. Future Firm
Want someone who’ll give you actionable advice for scaling your accounting or bookkeeping firm? Look no further than Ryan Lazanis, a straight-talking CPA who shares the lessons he learned while building his own modern firm from scratch in only 5 years.

Accounting Newsletter Topics

The vast majority of content comes from the community itself as well as thought leaders and others looking to influence the profession in some way. Working as a tax accountant could be ideal if you like working with numbers and solving problems. This can be a very rewarding position, too, as you would have the opportunity to work one-on-one with clients and help alleviate their stress surrounding tax season. Tax accountants are often hired on by larger tax preparation firms, but they can also work for accounting firms or offer their services independently. It is important to connect with your readers on a level that feels like a personal connection.

  • Hundreds of stories, jokes, videos, anecdotes, links and quotes relating to accountants, accountancy and tax related topics.
  • This helps investors trust that the information your business presents is accurate.
  • Run by one of the biggest accounting bloggers and accounting professionals, Rick Telberg, CPA Trendlines focuses entirely on public practice.
  • The only thing it doesn’t show is cash flow — a business can look profitable but have zero dollars in the bank.

If your budget allows, we highly recommend hiring a professional to help with your accounting. The best way to do so is to educate yourself on your business’s tax obligations, keep accurate records, and set aside revenue (or pay ahead in quarterly taxes). Collecting money in person (at a storefront, marketplace, etc.) can get pricey. Between equipment, credit card fees, and handling physical cash, it can be a hassle. Thankfully, Square and PayPal make it easy to accept card payments using your smartphone or tablet. These programs also send your customers’ receipts, reconcile your transactions, and handle returns if necessary.

Real estate expert describes NY AG’s approach as ‘flawed’

If a business’s annual revenue exceeds $5 million, it’s required to use the accrual method. It’s another important account term that refers to the day-to-day recording, categorizing, and reconciling of transactions. Basically, bookkeeping keeps you from spending and making money without tracking it. Software, apps, and cloud-based bookkeepers have made it a breeze to track expenses and not have to keep hundreds of receipts lying around.

Licensure for Accounting Firms

The TOA Global blog is the place to go if you need advice on talent management, remote work, and employee retention. Accounting Fun can be an entertaining way to take a break from the often are dreams an extension of physical reality serious and demanding nature of the profession. The blog provides a unique and amusing perspective on accounting to relieve stress and promote a more positive attitude towards work.

Heather Smith (One of the Original Accounting Bloggers)

🎧 Hear Twyla Verhelst, Head of the FreshBooks Accountant Channel, talk about building confidence in an industry of introverts. Solutions for CPA Firm Leaders
As an expert in CPA firm management, Rita Keller shares regular practice management advice and kicks off each post with an apt quote. Yep, sign up here for her regular insights on workflows and online accounting software. Gusto Accounting Partners Blog
FreshBooks’ US payroll app partner, Gusto, has a fantastic blog for accounting partners that covers industry trends, growing your firm, and partner success stories. I’m an entrepreneurial CPA that founded Xen Accounting, a
100% cloud-based accounting firm, in 2013. Following its acquisition in 2018,
I started Future Firm to help accountants fast-track the growth of a modern, scalable accounting firm of their own.

There is also a section on practice management, voices, and resources such as webinars, white papers and reports. The internet is a perfect destination for any accounting or finance professional looking to broaden their understanding or learn new concepts. Here are 6 of the best blogs to keep up-to-date on new developments. The WeArePF blog provides actionable insights and marketing guidance.

If you want to learn about how technologies, such as cloud, can help you transform your business accounting, this is the blog for you. If you’re interested in taking the first steps toward earning your bachelor’s in accounting, University of the Cumberlands is here to help. We’re proud to offer a bachelor’s degree in accounting that can typically be completed within four years and teaches the theory and practice of working with, creating, and interpreting financial statements.

Definition of Credit Sales As opposed to cash sales, credit sales (or sales on credit) allow the customer to pay the seller at a later date. Perhaps the seller allows its credit worthy customers to pay in 10 days, 15 days, 30… Read More. The frequency in which you review and evaluate your methods is bound to be unique to your specific business.

Believe me — only having to look at one set of bank statements is a lifesaver during tax season. But if you’re not an accountant yourself, you don’t need to know everything about accounting — only the practices and parts that have to do with your financial operations, legal obligations, and business decisions. Regardless of how you manage your business accounting, it’s wise to understand accounting basics.

In the accounting world, if you offer advisory services in your firm, Fathom has some great accounting bloggers on their team. This blog tends to skew on helping keep accountants and small businesses productive in their firms. Being a fellow Canadian accounting professional and member of CPA Canada, I’m once again inclined to include this as a blog to check out for all CPA Canada members. Our professional bodies need to be more helpful in keeping firm owners and small businesses ahead of the curve. Practice Ignition has a fantastic marketing team, and it shows in its content.

Automation tools save businesses and accountants time by limiting the amount of time they spend on data entry. This gives them more time to analyze data to improve the business. Many small business owners do a combination of bookkeeping and accounting. Over 6,000 accountants and bookkeepers use Jetpack Workflow to standardize client work, automate deadlines, and track firm progress.