In Pursuit of Profit - Blog

Top 10 Bookkeeping New Year's Resolutions

1/7/2019

Top 10 Bookkeeping New Year's Resolutions

Every year people ring in the New Year with overly ambitious personal resolutions that aim to improve their quality of life or the state of the world around them.

However, less than a month later these resolutions are largely abandoned as they resume their normal behaviors.

7 Ways to Find a Finance Mentor for Your Small Business

1/2/2019

7 Ways to Find a Finance Mentor for Your Small Business

As a business owner or entrepreneur nothing is more important than fostering a healthy mentor relationship with another experienced business professional.

Leaning on a mentor is directly correlated with higher revenue and increased growth, which makes it integral to any business strategy.

When it comes to finance mentors, however, this point is even more salient.

8 Tips for Effective Leadership During Downsizing

12/26/2018

8 Tips for Effective Leadership During Downsizing

Every year millions of employees are laid off amid downsizing efforts. In fact, in 2017 the top 12 employers to conduct layoffs reduced the workforce by more than 47,000 individuals. While some industries bear a larger proportion of the downsizing burden, no industry is exempt. Additionally, private companies are just as likely to downsize as public companies, making employee layoffs an inevitable reality in business.

20 Cash Flow Management Tips for Small Business Owners

12/17/2018

Large, small, new, well-established, public, private – nothing is more important to businesses than cash. Regardless of where a business is in its lifecycle or growth plans, cash is needed to pay employees, purchase raw materials, finance equipment needs, and market offerings. Effective cash flow management ensures that this lifeblood is working to support daily operations and long-term goals.

Which Type of Business Entity is Best for a New Business?

11/29/2018

WHICH TYPE OF BUSINESS ENTITY IS BEST FOR A NEW BUSINESS?

During the formation process, founders have an important question to answer – which business entity is best for my business?

Deciding among available business types is a decision that should not be rushed or approached casually.

New Business Startup Formation Checklist

11/21/2018

New Business Startup Formation Checklist

Starting a new business is one-part passion and two-parts paperwork.

Entrepreneurs can quickly get overwhelmed by the vast federal, state, and local requirements in place to regulate the formation of new businesses. Furthermore, focusing on requisite steps can distract new business owners from asking astute questions and doing critical market research to hone their business ideas.

5 Tips for Payroll Tax Reporting

11/13/2018

5 Tips for Payroll Tax Reporting

Payroll taxes are one of the most labor-intensive employment taxes that business owners handle. Also known as “FICA taxes,” payroll tax is comprised of Social Security and Medicare taxes. These taxes are withheld from employees’ paychecks as well as paid by the employers, which means that business owners must manage both sides of the equation.

8 Types of Internal Control Accounting Systems

11/5/2018

8 Types of Internal Control Accounting Systems

Business leaders understand it is essential to have accurate financial data to drive operations and measure success. However, without the proper controls in place errors, fraud, and other issues can occur, hindering operational efficiency and growth. While some small business owners assume internal control systems are only designed for larger organizations, these functions are crucial for companies of all sizes in all industries.

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