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Six Reasons Why Your Business Should be Using Online Accounting Software

It's often said that free cash flow is the lifeblood of any business. In order to ensure that business runs smoothly, business owners have to see to it that their accounting and bookkeeping methods are up to scratch. Related reading: Bookkeepers of the Future However, these duties are time-consuming and can take a significant portion of your time. The good news is that technology has made it easier and more convenient to track finances and keep records. With online accounting software, businesses can securely store their data. Free e-book: The Best Cloud-Based Accounting Software for Small Businesses Ready to...

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Defining ROI for Your Small Business

Return on Investment (ROI) is one of the most important tools in a business leader's tool kit. By understanding ROI or return on investment, business owners and project managers can make more effective decisions for a business. From deciding whether to offer a specific new product or service line to determining how to best utilize the marketing tools at your disposal, ROI metrics can guide informed decision making. Do you need to better evaluate your ROI and how your latest investments have impacted your business? ROI defined A company's ROI is the return on an investment. Think of this as...

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Three Tips for Small Business Tax Preparation

Tax season is upon us. Is your small business ready? Tax season can be stressful, and it often seems as though it adds a lot of work for small business owners who are already balancing many different priorities. From dealing with human resources (HR) to marketing and operations initiatives, it seems easy to let tax preparation fall by the wayside. Luckily you are not alone. One of the biggest pieces of advice that Focused Energy can offer for small business tax preparation is simple: have processes in place year-round. Managing the right accounting tasks on an ongoing basis helps to always...

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Four Benefits of Hiring an Outsourced CFO During an Economic Downturn

During an economic downturn, finances are every small business owner's top concern. Consider, for example, the financial crisis of 2008. It brought the U.S. banking system to its knees and led to the loss of millions of jobs. Now, more than 10 years later, we're aware that history has shown that beyond a certain level, debt burdens become too heavy to bear. It's not clear what that debt level might be, when we can expect a correction in the market or how severe the next economic downturn could be. One thing, however, is clear – an outsourced Chief Financial...

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Bookkeepers of the Future

Why are bookkeepers important? Bookkeepers have always been an integral part of successful, growing businesses, but their value is often discounted. To someone without an accounting background, the profession may seem straightforward and fairly static. While it is true that the foundations of performing the business' accounting rarely changes, the bookkeeping profession has been constantly evolving and expanding. This is due to software innovations. Bookkeeping software helps to reduce the time it takes to record the business' income and expenses, while simultaneously improving the financial transparency and controls. Our team of bookkeepers and senior accountants ensure that you're always...

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Income Statement Confidence

"Life is really simple, but we insist on making it more complicated" - Confucius What is the income statement? When it comes to financial reporting, there's nothing simpler than the income statement, which is also known as a P&L or profit and loss statement. On a basic level the report reflects total revenue and other income along with expenses and losses. The income statement provides a net profit or loss for any given period. Simple. The business world, has of course found ways to make this much more complicated. This report now has many different names, including the "statement...

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