Accounting is an essential requirement for any business and the hospitality industry is no exception when it comes to this requirement. Accounting for the hospitality industry requires specialized accounting management skills to avoid an entire system of mismanagement and inefficiency. Even the basic principles of accounting can assist you in obtaining the information required toContinue reading “Accounting for the Hospitality Industry”
Category Archives: bookkeeping
Planning Ahead: Micro-budgeting for the unexpected
Lately, we have all learned to expect the unexpected, especially when 2020 came around. For the year ahead, it is important to consider making a budget with that in mind. You really don’t even need to make a budget for the entire year, you could try structuring your spending and saving plan using a micro-budget.Continue reading “Planning Ahead: Micro-budgeting for the unexpected”
Accounting Software- Which one is the best?
While we did discuss tips and tricks for QuickBooks in our May blog post, there are other highly rated accounting softwares available. QuickBooks is the top-rated accounting software, but there are other names you may not recognize that also provide excellent features. Really the choice on softwares should be what suits your business the bestContinue reading “Accounting Software- Which one is the best?”
QuickBooks Tips and Tricks for the Non-Tech-Savvy
You are most likely to think of QuickBooks if someone mentions accounting software for small businesses as QuickBooks is servicing 4.5 million global customers online, per Intuit Investor Day 2019. Forty percent of that number are small businesses, out of which 30% are product-based businesses. Learning and becoming familiar with QuickBooks should definitely be onContinue reading “QuickBooks Tips and Tricks for the Non-Tech-Savvy”
Organization Tips to Simplify Personal Document Filing Include folder label ideas, tips on how long to hang on to various categories of documents, how and when to purge old files, etc.
Organizing your personal belongings is one of the most tedious, put off and difficult tasks for people to do. From not knowing what items to hang on to and how to organize them, important information and documents tend to get lost in the mix. This can become particularly difficult during important times such as; buyingContinue reading “Organization Tips to Simplify Personal Document Filing Include folder label ideas, tips on how long to hang on to various categories of documents, how and when to purge old files, etc.”
E-Commerce Tax Considerations
If you run an E-commerce business you’ve got to be prepared for the upcoming items. Payment Gateways Trademarks, copyrights & patents Possible shipping restrictions Specific lease requirements Sales tax laws can be very tricky since the are so different from state to state laws. This large variation in rules is mainly due to the factContinue reading “E-Commerce Tax Considerations”
Late Filing Tax Tips
With the extension of tax day currently dated for July 15, 2020 you now have more time to prepare for filing, but if you’re waiting until the absolute last second to file your taxes, don’t worry, you’re not alone. Truthfully about 20% to 25% of Americans wait to prepare their returns. But delaying may cause more troubleContinue reading “Late Filing Tax Tips”
Save money and stress as a business owner
Typically the more money in the checking account the less you tend to worry but when there’s a smaller amount, this brings the stress. This cycle could be never ending if you don’t begin to manage your money more effectively. We’ll show you 5 strategies to begin to manage your accounts which will lower yourContinue reading “Save money and stress as a business owner”
SBA LOAN 2020
Small Business Administration 7(a) better known as the SBA Loan is an amazing tool to finance your business.
What’s in a P&L?
What is a Profit & Loss Statement (P&L)? This is a financial statement that easily summarizes revenues, costs and expenses over a specific period of time. This can be monthly, quarterly or yearly depending on the time frame needed. This document provides information about a company’s opportunity to generate additional profits by increasing revenue or reducingContinue reading “What’s in a P&L?”
TK Accounting & Consulting 