Keeping Your Balance
Keeping Your Balance
Blog Post
  • Technology has enhanced the way businesses run and has elevated the efficiency that accounting can provide. Software makes managing and tracking financial transactions a breeze. With cloud-based tools and extra layers of security, business owners, bookkeepers, managers, partners, and employees can all leverage up-to-date financial information in real time. However, the benefits are bes...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Whether you’re working with a remote bookkeeper or have someone internally handling your accounting needs, it’s imperative that as a business owner you’re watching for red flags that could signify trouble ahead.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • At Keeping Your Balance, we put a huge emphasis on ongoing education and staying on top of all the latest accounting best practices, trends, and tools. It helps us better serve our clients, meet their bookkeeping needs, and enhance their growth strategies. That’s why we’ll be attending the QuickBooks Connect 2017 conference in San Jose between November 15 and 17.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • In a previous post, we shared some information about cloud-based accounting, what it is, and its growing usage. Because at KYB we experience first-hand the advantages it offers, we’d like to also share some of the specific benefits businesses can expect when using cloud-based accounting.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Welcome to the third edition of our Meet the Bookkeeper series. In this series, we highlight members of our bookkeeping team, so you can get an idea of the expertise and knowledge that's available to serve you and your business, day in and day out.  Our 100% U.S.-based team is made up of experienced and passionate accounting experts. They help our clients grow their businesses by prov...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • The changes that technology has brought to business are pervasive, affecting aspects from how you communicate with vendors, to how customers can pay for goods and services. Technology has also enabled a new way for business owners to handle their accounting: in the cloud.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • The cash flow statement (CFS) is one of the three financial reports generated by businesses to gauge financial position, health, and efficiency. It details the amount and timing of cash flowing into and out of a business, and uses data from the profit & loss (P&L) statement and balance sheet. Today’s post will give you an overview of what the CFS is, what you’ll find in the report, and...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • In addition to the profit and loss statement (P&L) and cash flow statement, balance sheets are one of three key financial statements businesses use to gauge their health and efficiency.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Welcome to the second edition of our Meet the Bookkeeper series. In this series, we highlight members of our bookkeeping team, so you can get an idea of the expertise and knowledge that's available to serve you and your business, day in and day out.  Our 100% U.S.-based team is made up of experienced and passionate accounting experts. They help our clients grow their businesses by pro...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Welcome to the first edition of our Meet the Bookkeeper series. In this series, we highlight members of our bookkeeping team, so you can get an idea of the expertise and knowledge that's available to serve you and your business, day in and day out.  Our 100% U.S.-based team is made up of experienced and passionate accounting experts. They help our clients grow their businesses by pr...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • An income statement (also commonly known as a profit and loss [P&L] or earnings statement), answers a very important question: Is your company profitable? The accuracy of your P&L is critical to ensuring your business is running as efficiently as it could be and to identify opportunities for increasing revenue and/or decreasing costs.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Business owners know steady cash flow is critical to long-term survival. When owners struggle to collect payments, they have less cash on hand to manage operations, pay employees, or take care of other incurred expenses. While collection problems are common for small businesses, employing some simple strategies to strengthen accounts receivable policies, practices, and technologies ca...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • There are few things in this life that are more exciting than seeing your startup business get off the ground. It’s exhilarating to see your vision ripen to fruition. But as the volume of business increases, it becomes something of a juggling act, doesn’t it? I mean, you’re probably already pushing your resources (both capital and human) as far as you can, and feeling stretched out rat...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Technology has changed some many things when it comes to owning and operating a business. Not only is technology now a part of most types of businesses there are some business that operate completely online. The model of starting and operating an online business is different than owning a more traditional ‘brick and mortar’ business in many ways. You may not get up and go to an office ...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • In the early days of your small business payroll was probably pretty simple, especially if you were the only employee. But as your business grows the job of payroll becomes more and more time-consuming. Accuracy and timeliness are both crucial to getting payroll out to your employees so there is never a time when you can slack off on this duty. If the task of payroll has become so larg...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Owning a service based business gives you the opportunity to serve more and more of your community as your company grows. A growing business is a wonderful thing but it can come along with complications. One of the complications that come with business growth is more time consuming and complex accounting responsibilities. If you are looking into options for accounting help you may wond...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Accounting is an important aspect of every business, no matter the size. Up-to-date financial information about your company can help you gauge how the business is currently doing, forecast how it will do in the future, and make plans that can increase success. Despite all the benefits of accurate accounting, many small business owners view it as a necessary evil. That is because the b...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • If you’ve been reading this blog, I hope we’ve given you some idea of the value of outsourcing your bookkeeping and other financial tasks to a virtual accountant. It’s one of the most effective ways that a small or growing business can save both time and money, freeing up resources so that you can focus your energies on more crucial activities. This being said, we understand that you m...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • We’re living in an age where outsourcing has become a common practice for almost any business. To outsource all non-core functions, and focus your energies on the core activities seems to be the watchword of the day. Not surprisingly, accounting and bookkeeping are among the services that are commonly outsourced, and if you spend any time on this blog, you’ll know that there are a lot ...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Thanks for taking the time to read this blog, brought to you by the pros at Keeping Your Balance, a virtual accounting firm. A lot of what we discuss here are the various advantages to using a virtual accountant, in contrast with managing your books on your own, or hiring in-house accountants and bookkeepers.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • As a business owner you have likely worked in a variety of capacities in your business. Limited resources during the early stages of a business often make it necessary for an entrepreneur to fulfill many, if not all, of the roles related to running the company. But as your business grows it will become necessary to bring in the help of certain professional services in order to get ever...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • Are you the owner of a small, growing business? If so, can I ask you a question? Did you start out as a one-person shop? I’m going to take a guess that you probably answered yes to that question. If not, I’d wager that you started with just a few people, maybe some family members or close friends who helped you in their spare time. I don’t know too many small business owners who didn’t...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • It wasn’t too long ago that the media was abuzz with stories about “outsourcing”, and the loss of jobs that were being shipped overseas. Actually, what we were all so concerned about was really more accurately termed “offshoring”. In the past few years, however, business blogs and websites have been talking much more about another use of the term: the practice of delegating work that f...

Keeping Your Balance
Keeping Your Balance
Blog Post
  • The primary function of profit and loss (P&L) statements is to show the profitability of your company. If your business hasn’t been making profits, you can use your P&L to understand why by looking at the revenue coming in and expenses being spent. In short, the P&L takes all the income and subtracts all expenses.

Keeping Your Balance
Keeping Your Balance
Blog Post
  • If you own your own business, you’re well aware there are no shortages to overhead costs. Staying in business will require overhead costs, but in today’s digital world, there are many ways to reduce those overhead costs.

Keeping Your Balance
Keeping Your Balance
Blog Post

New blog articles detected.

  • How Do I Know If I Am Paying My Accountant Too Much?

    Part of running a successful business is keeping your expenses as low as possible. However, you do not want to cut expenses so much in certain areas that it impacts the quality of the services you receive. Accounting is one area where you may be concerned that paying less means you are getting a lower quality of service. Thankfully, you do have options for high quality accounting help ...

  • How Do I know if My Bookkeeper is doing a Good Job?

    There are some situations in which it is easy to determine if someone you have hired is doing a good job. If your car stops working you can conclude that the mechanic did a good job once the car is up and running again. When a dentist fixes a tooth that was causing you pain, relief from that pain is likely the only evidence you need to feel like it was a job well done. But, sometimes i...

  • I Want to Know How My Business is Doing Financially

    Knowing how your business is doing financially is essential to its’ long term success. You can look at your finances and see what things are making you money and what things are costing you money. You can use the financial information from your business to help you make decisions about the future. In addition, staying on top of the financial details of your business will ensure that no...

  • How Do I Get My Business Accounting Off My Plate?

    As a business owner, you likely have a number of different roles within your company. It is common for entrepreneurs to wear multiple hats within the company until it grows to a place where it is necessary to add on more employees. There are some responsibilities that are easy to hand over to a contractor or employee because you realize that your time can be better spent elsewhere. The...

  • Can A Virtual Accountant Manage Employment Taxes for My Small Business?

    Yes, a virtual accountant can manage employment taxes for your small business, but they can do much more than that. A virtual accountant can provide you with a full range of accounting services. You can verify the credentials of any virtual accountant or firm you are thinking of using just like you would if you were going to hire an in-house accountant. As you look into different virtu...

Keeping Your Balance
Keeping Your Balance
Blog Post

New blog articles detected.

  • Outsourced Bookkeeping: Do You Have Immediate Access to all of your Financial Data?

    If you are considering switching from in-house accounting to an outsourced virtual model, you probably have a lot of questions. Accurate accounting is essential to the financial wellbeing of your business and switching to a new method of bookkeeping should only be done after careful consideration. Access to your information is likely a major concern as you consider outsourced bookkeepi...

  • Are Virtual Accounting Services a Smart Investment for B2B Businesses?

    There are some major differences between companies that sell directly to consumers (B2C) and those that work exclusively with other businesses (B2B). The sales and marketing strategies look drastically different because of the difference in the intended audiences. When and how payment is received also varies between B2C and B2B-in B2C payment is expected when the product or service is ...

  • Moving from an In-house Bookkeeper to Outsourced/Cloud Bookkeeping Services

    Improvements in technology have drastically changed the options you have for your business accounting needs. If you have always worked with an in-house bookkeeper, there is another option available that may provide you with a more cost and time efficient way to take care of your accounting needs. Below are some of the advantages and adjustments you can expect to experience when you mov...

Keeping Your Balance
Keeping Your Balance
Blog Post

New blog articles detected.

  • Three Things You Should Know About Managing Your Cash Flow

    As a business owner, there are several financial concepts that you need to understand and effectively manage for the well-being of your company. The cash flow of your business is one of those concepts. When you have cash on hand it can allow you to put money into the growth of your business and provide a buffer against unexpected expenses. If you are intentional about managing your cas...

  • Why Adjusting Entries are Needed

    When you work under the accrual method of accounting, you have to do more than simply keep track of the money as it comes in and goes out. There are some situations where money has been earned but not received and vice versa. Under the accrual method, you must record these transactions during the accounting period in which they occur. It may seem like extra work, but the accrual method...

  • What Should I Do If I Am Not Ready to File My Taxes By the Deadline?

    Tax season is a stressful time for many business owners. There is pressure to make sure you have all of the necessary information to accurately report the income and expenses of your business. If you have not been diligent with your accounting duties you could spend a large amount of time catching up in order to file. If you are unable to get everything together by the filing deadline,...

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