Accounting is the lifeblood of your business. After all, it’s the department that handles payroll, invoicing, and so many other functions vital to your company’s cash flow. When it’s time to check on your company’s financial health, you turn to your accounting team to provide timely and accurate reports. Hiring the right accounting employees is, therefore, crucial to operating a business smoothly. While knowledge of accounting practices might have been enough in the past, today’s accounting and bookkeeping professionals need… read more →
The full financial picture of a company is complicated. But proper accounting is essential for the financial health of your business and its overall potential for longevity. Not every method works for every business, so it’s valuable to understand your options. This starts with the way you record your income and expenses. Read on to discover more about two popular methods of business finance tracking: the cash and accrual methods. We’ll also help you decide which one might be right… read more →
Take a look at the enlightening statistics we’ve collected to help you plan realistically for your business’ future.
Owning a business is hard, particularly in the first half-decade of its existence. In fact, 20% of businesses fail in their first year, and another 30% collapse by the end of year five. The good news is that with the right strategy and a watchful eye on your business income and expenses, you can avoid closing your doors. The key is to be aware of potential problems and to quash any existing issues. Below you will find the 3 most… read more →
As a business owner, financial data is critical to your success — but only if you know how to interpret the meaning behind the numbers correctly. Most business owners rely on the aid of an accounting team to accurately analyze and organize financial data, but it’s up to you to make smart decisions based on the information they’ve gathered. There are three major financial statements your accounting team will present to you on a regular basis: income statements, balance sheets,… read more →
Each time your accounting team delivers you a profit and loss statement (P&L statement), they’re handing you key insights about your business’ profitability. A P&L statement, also known as an income statement, measures your business’ financial performance over a specified booking period — generally one month, one quarter, or one year. While many business owners and managers feel overwhelmed at the wealth of data on the P&L statement, interpreting this data is essential to making informed business decisions. The good… read more →
Here’s a breakdown of the states with the least and most business-friendly tax systems, according to the 2017 State Business Tax Climate Index. Note: Number 1 is the most friendly. Number 50 is the least friendly. Share This Infographic On Your Site Please include attribution to http://signatureanalytics.com/ with this graphic. The Top 10 States With Business-Friendly Tax Systems 1) Wyoming One of only 9 states to not tax individual income Doesn’t levy gross receipts tax or corporate income tax No… read more →