What’s the best way to catch up on bookkeeping if I haven’t really touched my books all year? I love this question I was recently asked. Not to be Debbie Raincloud here, but the first step is to stop being lazy. Look, you didn’t start your business to do accounting. So, this idea of accounting and bookkeeping is not your favorite thing. I totally…
Bookkeeping basics look different for small business owners than they do for accountants or bookkeepers. You have different priorities and responsibilities. So, this is not gonna be a do-it-yourself blog. I’m not gonna teach you things like how to debit and credit and do journal entries and reconcile your bank accounts. There’s lots of free blogs and videos on the internet. A simple Google search…
If you’re asking the question, “How can I better understand the real time financial picture of my business?”, it means that you are one of those business owners who look at your books more than once a year. So, kudos to you. There are a lot of small business owners who only look at their books on a quarterly or yearly basis, but it’s really…
As a business owner you know you need to keep track of your books, reports, documents, and receipts, but you also realize you’re not a naturally organized person. Well, props to you for recognizing one of your weaknesses. It doesn’t mean you are a weak person. You simply need to develop some habits for how to stop being disorganized. These are not best practices, per…
Webster defines Red Flag as “a warning signal or sign; a problem to be dealt with.” Negative accounts are a big red flag in your bookkeeping. Despite popular belief, bookkeeping isn’t necessarily only for doing your tax return, although that’s an added benefit. Bookkeeping is for recording and organizing all of your financial transactions made for your business operations. With good records you are…
It’s January, and you know what that means. 2020 is now in the past and it’s time to start gathering your documents and preparing for a smoother tax season. I know, the word TAX should be a 4-letter word, but it is a necessary evil. Whether you’re an individual, a sole proprietor or small business owner, you need to file your taxes Every. Single. Year….
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
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