Accounting Archives » Agile Planners

Accounting

Maximizing Your Extension

For business owners, staying organized with financials is about more than spreadsheets lining up nicely or thoroughly reconciled accounts (although both are important). It’s about the crucial role organized bookkeeping plays in the actual tax filing process. Simply, organized records both save time and reduce errors during tax preparation. For those who filed an extension this year, this means getting organized now, as those due dates are quickly approaching.

Accounting

Beyond the Financial Statements

When we think of financial reporting, our minds tend to drift automatically to the preparation of the three primary financial statements—the income statement (also known as the profit and loss statement or P&L), the balance sheet, and the cash flow statement. And while these statements provide incredibly valuable insights into different aspects of the company’s financial health, financial reporting is about much more than the numbers on these three documents.

Accounting

Cash Flow vs. Profitability: Similar Financial Story, Different Chapters

With all the turbulence in the economy over the past several years, there have been increasing discussions about our impending down economy. Experts are seeing us head toward (or already in) a period of economic contraction or decline. After all, down economies are typically marked by various negative indicators, including reduced economic growth, decreased consumer spending, rising unemployment rates, a decline in business activity, and rapidly declining stock markets, and aren’t we seeing much of that already? The end result, unfortunately, is often associated with an economic recession.

Accounting

E-Commerce Bookkeeping … Not All Bookkeeping is the Same

When business owners hear the word “bookkeeping” (or any variation thereof), they automatically think balance sheets and profit and loss statements. They wouldn’t necessarily be wrong, as bookkeeping is inextricably tied to those important reports. But more and more today, there is another meaning attached to the term — a meaning with roots in something that has become a new norm in business and society — e-commerce.

Accounting

New Tax Reporting Rule Impacts Venmo, CashApp, and PayPal Users

Changes to the tax laws are nothing new. In fact, you can generally count on them with as much regularity as the change of seasons. Often, these changes are obscure, affecting different groups for different reasons. This year, one of the primary changes will impact millions, as it reflects a nearly universal increased use of third-party payment networks for business and day-to-day transactions.

Accounting

Your Best Year Yet

Somehow, it’s the end of January already. As you close the month and look ahead, are you finding yourself prepared and organized for the next eleven months or just getting by day by day? If you’re in the latter group, it’s time for a reminder about the importance of budgeting and forecasting to make sure 2022 is your best year yet. After all, without a roadmap, how will you know how to reach your destination?

Accounting

Your 2021 Year-End Accounting Checklist

Unwrapping our Gift to You this Holiday Season It’s December. The holidays are upon us. Employees are requesting time off. Clients still need attention (and often, more of it). You’re trying to juggle your own personal obligations and family time.

Accounting

Accounting for Gratitude

The month of November reminds us all of gratitude and the importance of practicing it in our daily lives, personally and professionally. With Thanksgiving, many of us are fortunate enough to take a break with family and friends, gather around

Accounting

Closing Your Financial Quarter

It’s About More than the Numbers Closing out the quarter and preparing for year-end is always a good time to review some reminders about a financial quarter close. There’s no doubt about it – a healthy business has healthy financial

Accounting

Post Survival Mode, Have Businesses Entered Coasting Mode?

Your Financials Need More than Coasting can Provide If you’ve been in business a while, you’ve inevitably experienced setbacks from time to time. And if your business is successful, you’ve likely used those setbacks as unique opportunities to learn and

Category: Accounting

Maximizing Your Extension

Beyond the Financial Statements

Cash Flow vs. Profitability: Similar Financial Story, Different Chapters

E-Commerce Bookkeeping … Not All Bookkeeping is the Same

New Tax Reporting Rule Impacts Venmo, CashApp, and PayPal Users

Your Best Year Yet

Your 2021 Year-End Accounting Checklist

Accounting for Gratitude

Closing Your Financial Quarter

Post Survival Mode, Have Businesses Entered Coasting Mode?

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