Why Let's Ledger
by Michael Pirumov
How To Setup Expense Tracking With Expensify
Expense trackers are an accounting time saver. The benefits are wide-ranging, from helping employees organize expenses, to getting reimbursements out promptly, to seamless monthly reporting for your business. This is why you need an expense tracker tool.
How To Setup Expense Tracking With Expensify
Expense trackers are an accounting time saver. The benefits are wide-ranging, from helping employees organize expenses, to getting reimbursements out promptly, to seamless monthly reporting for your business. This is why you need an expense tracker tool.
Catch-up To Private Equity Investments And Fund Accounting
Private equity fund accounting includes compliance methods for reporting revenue. In this guide, pop the lid on private equity investments, to have a stronghold in your next finance meeting.
Pros And Cons Of Invoice Financing
Running a small business can be difficult. During a cash crunch, waiting on customers to pay their tabs is like waiting for grass to grow. To bridge the gap between expenses, consider cash advances with invoice financing.
Retail Arbitrage: Be A Resale Ninja
Have a knack for finding deals? Turn your shopping habit into a retail arbitrage business and turn a profit by reselling trendy items at a higher price. In this guide, we dish out accounting and business best practices for a resale business.
Venture Capital Investing 101
The allure of venture investing is the gamble. It is high stakes, high reward but this career path isn’t all play. For curious entrepreneurs here is your venture capital investing 101.
A Quick Historical Bookkeeping Clean Up
A historical bookkeeping clean up is a daunting task, even if you are a company with a few monthly transactions. We take the guesswork out of it with professional accounting techniques and intuitive software solutions.
Introduction To SaaS Accounting
This is an accounting guide for new startups and entrepreneurs looking for a well-rounded explanation of SaaS accounting. We go through everything you need to set up subscription billing and accurately recognize recurring revenue.
Step-By-Step To ASC 606 Revenue Recognition
Dear subscription billing companies, are you looking for significant investors? Then it is time to get serious about ASC 606 revenue recognition. It is a compliance measure that ensures subscription sales reporting and performance analysis is normalized across industries.
Accounting Fraud: Prevention and Detection
We’ve come across more accounting hack jobs than we’d like. Thankfully, nothing comes close to full-scale accounting fraud. This is how to spot and prevent fraudulent accounting activity with examples of the worst accountants in the industry.
Decentralized Accounting: The Future Of Finance
What type of managerial system does your company have? Is it top-down or spread out, and is the system satisfying long-term objectives? We break down how restructuring authority and decentralized accounting systems can revitalize small businesses.
What Is Good General Ledger Accounting?
Your business diary holds all the secrets. We aren’t talking about water cooler gossip, something even juicier—the keys to your success are in your general ledger. And with good general ledger accounting practices, you get prime financial information to drive action.
Year End Reconciliation: Close Out For The Holidays
Tis’ the season for a year end reconciliation. Let’s balance your books and zero out accounts, to get a clear picture of your annual income. Your efforts will be rewarded with a seamless tax season.
The Fallacy Of A Quarterly Earnings Report
Publicly traded companies must release quarterly earnings reports 4 times a year. The contents of these reports can make or break a share price, and shake a CEO’s foundation in the company. So, is it healthy for a business to base performance on quarterly benchmarks?
Accounting Code For Your Chart Of Accounts
In accounting, we live by a code—the accounting code. Treating your accounting system like a google search bar every time you enter a transaction, is not time efficient. Instead, bookkeepers and accountants rely on short-hand accounting codification to quickly key an invoice.
Throw Out The Bad Debt Expense
Endlessly waiting on a customer to pay an invoice, but getting no response? Then it is time to throw it out and write it off as a bad debt expense. Having money tied up in accounts receivable messes with the clarity of your business performance. Treat bad business debt the right way, with this how-to.
The Balance Sheet Breakdown
A balance sheet is one of the three main financial statements in accounting. It provides the keys to unlocking a company’s future success. That is why knowing how to read one is foundational in business.
The Making Of A Multi Step Income Statement
Income statements come in all varieties. Learn how to take advantage of this financial tool to rate your success. Plus know how to prepare and read a multi step income statement.
Automate Accounts Payable With Bill.com + Xero
Ready to simplify monotonous billing for your business accounting? Lucky you, this is the new financial frontier where you can automate accounts payable (AP). With Bill.com accounts payable your payment processing is a thing of the past.
Counting The COGS: Inventory Accounting Guide
Your shop wouldn’t be poppin’ dollar signs if it didn’t have inventory. We know this area is a maze for business owners, that’s why we want you to have this inventory accounting guide. It is a showcase of ecommerce inventory best practices, and dives into the details of inventory management.
What Is RPA Accounting?
Your business is doing RPA accounting and you didn’t know it. Welcome to the future, where the robots took our mundane process jobs. Humans aren’t filling roles that require repetitive tasks. Instead, robotic process automation (RPA) is working those long hours, especially in the accounting department.
Retained Earnings: The Startup Growth Hack
Want the #1 growth hack from successful start-ups—retained earnings. Positioning the company with a small but efficient payroll and reinvesting earnings leads to long-term profits. Learn all about how to milk business profits to finance expansion activities and manage debt.
Expert Accounting Tips For Scaling Ecommerce
Scaling and growth are two very different terms when it comes to business. They are used synonymously but scaling refers to adding revenue faster than incurring costs. Here we show how scaling eCommerce can happen with a clear accounting lens.
Double Entry Accounting: Find Your Balance
There are two systems of accounting: double-entry and single-entry. Which is the best method for your business? This article will get into why you should be using the double entry accounting system.
What Is GAAP Accounting?
Following GAAP rules is not a requirement for most small businesses. That shouldn’t prevent you from understanding GAAP accounting because these principles affect reporting for the entire business sector. They will improve your financial procedures, and make your business more appealing to investors.
What Is The Difference Between Bookkeeping Vs Accounting?
Most of our clients refer to our services as bookkeeping. Technically, accounting is what we do and bookkeeping provides the foundation of our processes. Knowing the difference between bookkeeping and accounting will help your financial prowess in business.
1-2-3 Simple Cash Forecasting
Accounting is not just recording the past, it is determining the future. Businesses should be aware of how much cash they will need to operate while investing in the business. The best way to do that is with cash forecasting.
A Month End Closing Procedure For Every Business
We perform monthly closings for every client, regardless of their industry. It is arguably one of the most important accounting functions. We deploy it to gauge profitability, tax payments, and our own accounting skills.
The Employers Payroll Compliance Handbook
Paying employees in a small business isn’t as easy as cutting a check. Payroll compliance is the meticulous art of following state and federal wage regulations. This is your handbook for payroll policies and procedures if you are paying an employee for the first time.
Accrued Liabilities: Pay Another Day
Eliminate stress by tracking expenses for your business. In accrual accounting, not all expenses are the same. By understanding accrued liabilities, you will be able to see your company’s cost commitments at any given time.
Why is Unearned Revenue a Liability?
In accrual accounting, it is important to organize income properly. Especially when it comes to prepaid services. Prepayments are considered unearned revenue. You cannot instantly take in this type of revenue as income. Unearned revenue is a liability and is treated in a very unique way.
Accounting for Amazon Sellers: The Keys to Profitability
If you can’t beat them, join them. That was probably said by the first third-party seller to join Amazon. For e-commerce shops entering the market, Amazon is your largest competitor. That means mastering amazon seller accounting is the best way to be profitable.
The Switch: Cash to Accrual Conversion
Cash basis accounting had a good run, time to switch your accounting method. Now you are stepping up your finance game. Whatever the reason to change your reporting method, know that cash to accrual conversion is intricate.
Xero Vs QuickBooks Online: Which is Better?
Having a solid system to manage accounts is a necessary part of business. While Excel spreadsheets, and mathing out may be accessible to some. That isn’t the case for the majority of business owners. Cloud-based accounting software reduces manual processing.
Statement of Cash Flows for Small Businesses
Monitoring cash inflows and outflows, gives you a sense of how well you are doing. In accounting, you monitor money with the cash flow statement (CFS). This statement shows the effectiveness of a company’s management of revenue and expenses.
Feel The Cashburn: Calculating Cash Burn Rate
Cash moves the economy. Businesses need it to operate, and they need a lot of it. Cash burn rate helps a company see how much cash is essential to stay open. Not only that, it tells how quickly money reserves are being spent.
Cash vs Accrual Accounting: Speaking The Language of Business
Starting up a business involves major operational decisions. One has to do with how to organize the books. You may be asking should I use cash or accrual accounting?
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