Fri Apr 29, 2022 | Alan Lefkowitz | Accounting
Running a small business entails encountering financial challenges that must be addressed at some point. Often, these challenges are common and easy to overcome. However, some of these challenges are more difficult to handle. A few of the most common financial issues small businesses face are as follows:
Read MoreMon Feb 21, 2022 | Alan Lefkowitz | Accounting, Business, Virtual Accounting Services
Finding the right company to handle your business accounting services should be a significant concern if you own a small business. Remember that tax season is not the only time you need to track your finances.
Read MoreFri Nov 12, 2021 | Alan Lefkowitz | Accounting, Business, CFO Services
If your company needs top-level financial skills, try hiring a fractional CFO. This expert can increase your small or growing business’s financial health. They also can save you money because you will not have to pay them a full-time salary, bonuses, and benefits.
Read MoreThu Jul 29, 2021 | Alan Lefkowitz | Accounting, Financial Reporting
Do you own a small business? If so, hiring an accountant is key to truly understanding your business’s financial health. Historically, many businesses hired bookkeepers and accountants from several firms, outsourcing some and keeping some in-house. While hiring accountants through various firms worked for companies in the past, this method has since become outdated, expensive, and inefficient to own a business’s finances in order.
Read MoreThu Jul 8, 2021 | Alan Lefkowitz | Accounting, Business, CFO Services
A Chief Financial Officer (CFO) plays a pivotal role in companies of all sizes. CFOs regulate cash flow, financial planning, and performance from blue-chip organizations to start-ups. This chief role combines strategy with daily management. A CFO usually works as the top controller, creating financial systems that can impact an organization’s future.
Read MoreWed May 26, 2021 | Alan Lefkowitz | Accounting, Business, Small Business
Conducting a monthly bank reconciliation helps you understand your company’s cash flow, protect against overdraft fees, and guard against fraud. The bank reconciliation process is vital to the checks and balances (no pun intended). The best practice is to ensure that no individual has control over all financial transactions for a business.
Read MoreWed May 26, 2021 | Alan Lefkowitz | Accounting, Small Business
As any small business owner, you know that you must keep track of your financial data: what your company earns, what your company owes, and what your company is worth (owner’s equity or stockholders’ equity). A small business balance sheet helps you organize and document this information so that you can assess not just your business’s assets, liabilities, and equity but, most importantly, the overall financial health of your company.
Read MoreThu Mar 18, 2021 | Alan Lefkowitz | Accounting, Construction
Construction-in-progress (CIP) accounting is the process accountants use to track the costs related to fixed-asset construction. Because construction projects necessitate a wide range of prices, CIP accounts keep construction assets separate from the rest of a company’s balance sheet until the project is complete.
Read More
