Business Tips

Should I Hire a Bookkeeper? 3 Super Tips to Help Your Bookkeeping Decision.

As a business owner (or future business owner), you're probably faced with multiple decisions daily which can affect your business either positively or negatively. If you're one of those good business owners, then you're constantly learning how to improve your business, and a common piece of advice that you'll hear is not to wear multiple hats. Most business owners start by wearing every hat in the business - you're the CEO, CFO, CMO, CTO, the secretary, and every other [...]

65 Accounting Terms and Definitions

The following 65 Accounting Terms and Definitions are meant to supplement the previous two posts on basic accounting principles: 40 Basic Accounting Principles and Costs of Goods Sold - Additional Principles. Current and future business owners will want to read those posts and understand them thoroughly in order to move on this month with future accounting posts that are related to bookkeeping and tax savings. This post is mostly for reference and it's a great one to bookmark for [...]

Costs of Goods Sold – Additional Accounting Principles that Businesses With Inventory must know

If you own (or plan to own) a service business that does not sell any products or goods, then the previous blog post is sufficient for your business: 40 Basic Accounting Principles that you must know to understand Small Business Accounting. However, if your business sells products or goods and you're one of many businesses with inventory, then you need to know some additional information on costs of goods sold (COGS).Since the article on the three business financials has [...]

40 Basic Accounting Principles that you need to know to understand Small Business Accounting

Business owners need to know general accounting principles before they can move on to more complicated accounting practices. The following are the 40 Basic Accounting Principles that you must know to understand small business accounting:The guidelines that accountants and businesses use to practice accounting are called Generally Accepted Accounting Principles (GAAP). GAAPs are adapted, changed and updated by the Financial Accounting Standards Board (FASB). The Securities and Exchange Commission (SEC) also has authority to change the rules, but [...]

September is Accounting Month for the Mirex Marketing blog

September is Accounting Month for the Mirex Marketing blog. Accounting, bookkeeping and taxes are probably some of the most boring topics for non-numbers people. Yet, if you want to run a business, you have to be able to manage the money to achieve success and growth. Businesses are in business to make a profit. Even non-profit organizations must manage their accounting properly to avoid failure. If you're not making a profit, then your business needs to change. And the [...]