Small Business Accounting Tips to Save Your Time and Money

Does the idea of managing your business finances intimidate you? We do understand it could be a daunting task especially if you have no prior knowledge of it but with some uncluttered guidance and favorable tips, we can help you in staying ahead in your accounting game. Let’s have a look.

Embrace Technology

There are several money management applications and business accounting systems such as QuickBooks, Sage Accounting, FreshBooks, Cloud accounting software that can keep track of your financial transactions, it incorporates your bank statements, allows you to actively update your expenses and give you a real-time financial position of your business. Sounds easy?

Update your Books Regularly

We know you don’t like it, but it could be burdensome at the end of the month. Make sure you update your expense data, inventory, and revenues weekly. Take time to reconcile your bank statements. Automate your invoices and expenses using QuickBooks or Square. This would save you from tussle of paying extra tax at the end of the day.

Learn it Yourself

Owning a small business requires you to be hands-on all the time. It is understandable that in a smaller business setup, hiring employees could be hefty on the pocket. So, here is what you can do. You can learn some accounting yourself, maybe from your community college or courses available online. It would give you a better understanding of how money works. Plus you can also keep an eye on the accountant you hire later. And it’s good to have knowledge of diverse fields.

Don’t mix up your personal and Business transaction

Maintain your business and personal expense separately and don’t mix them in any case, no matter how intriguing it seems. Dedicate a separate bank account and credit card for your business.

Hire an Accountant

Employing the expertise of a professional tax accountant canberra would help you in saving your time and money. You won’t pay him only for bookkeeping your financial transactions, you can also do that but to interpret and analyze your business revenues, report and recapitulate your financial data and to access the company’s financial performance. To pay heed to Tax rules and regulations that are ever changing and use his forte to minimize your taxes.


He would also be responsible to devise a reminder sheet for the payments of your credit cards, business loan installments, utility bills, and taxes to save you from penalties. It’s better to put all the hassle of accounts payable, receivables, liabilities and loans, legal fee and payroll on your accountant and save yourself for better tasks: i.e.; to grow your business.

Bad financial management could be regretful for your business. To fend off any such disaster, you are required to keep a punctilious track of your business finances. Taking all these preventive measures, you will spend less time fretting about the muddy mess of your transactions and more time doing what you love.…

"Small Business Accounting Tips to Save Your Time and Money"

Tips To Keep Your Business IT Systems Secure

When you run a business, it is important that you keep your IT systems as secure as possible. Fortunately, there are a number of tips that you can use to help you ensure that all your systems are secure. Some of these tips might seem like common sense, but you will be surprised to know that many businesses do not take this as seriously as they should.

Protecting With Passwords

This tip might seem like common sense, but a lot of cyber attacks are successful because of weak password protocols. To ensure that your systems are safe, you need to track and limit access to equipment, networks and data through the use of unique usernames and passwords. The strongest passwords will generally contain numbers symbols and letters while not being based on commonplace words.

You also need to ensure that passwords are changed on a regular basis. Many experts recommend having user update their passwords every 3 months. This will ensure that any older information which falls into the wrong hands will not be usable.

Use a Managed Security Service

Many companies provide managed security services. These provide varying levels of safety and security to your internal systems. Investigating the options available is always a good idea.

Design A Safe System

One of the best ways to keep your IT system safe is to reduce the access to the infrastructure. To do this, you will have to restrict the access that users have to only the software and equipment they need to complete their job. This will limit the access points that you have to safeguard and secure.

You also need to ensure that all access points in the system are secure. If you have a wireless printer as part of your system, you have to ensure that the printer is secure as well as the overall network. These are vulnerable access points that have to be looked into and secured.

Keep All Software Up To Date

While you need to look at the access points of your system, you also need to look at the software you are running. All software should be up to date as this ensures that any backdoors and weak points are closed. Updates to software will generally contain patches that make the program more secure and you need to have this.

You also need to have a virus scanner on the system that runs automatically. The virus scanner will also need to be kept up to date to ensure that it is looking for the newest threats to your business. Having the scan run automatically is important because it stops employees from delaying it and potentially causing a vulnerability in the system.

Be Careful With The Cloud

The sensitive data that your business has should be kept out of the cloud. Cloud storage may seem like the best solution for your needs, but it is not the most secure. Cloud storage will hold your sensitive information on remote servers which a third-party has access to and they could be vulnerable.

If you have any sensitive data, you should house it on your own server. This will reduce the number of access points and you will know exactly who has access to this data. If you have a secure IT system, you will also be sure that your data is safe.…

"Tips To Keep Your Business IT Systems Secure"

What Qualities Make A Great Digital Marketing Agency

Before you hire a digital marketing agency, you need to understand what makes an agency great. There are a number of different qualities that you should be looking for in an agency and you need to know what they are. By ensuring that the agency you work with has these qualities, you can ensure that they are able to complete the marketing that you need.

A Team Of Experts

The digital marketing agency that you choose needs to have the right people and people that are experts in their fields. Having the right team will ensure that you are able to get the right results every time you use them. To determine the experts that you need, you have to consider what you want the agency to do for you.

If you want the agency to help you with your social media marketing, you have to ensure that they have staff who are experts with this. To determine if the staff are experts, you should see if they have any formal qualifications or vocational training. You also need to check what results they have achieved for other businesses.

The Tools To Achieve Results

There are a lot of high-tech tools that businesses can use to help them achieve the marketing results that they want. However, there are some agencies who say that they have the right tools for the job, but do not actually use the right ones. There are also many agencies that have the right tools, but are not able to use them correctly.

To determine if the agency you want to work with has the correct tools, you need to ask them about what they are going to be using. You should also ask them how the tools are going to be used to achieve the results that you want. You should also consider if the agency is a Google Partner which shows that the agency has completed the necessary Google exams.

Flexibility In Their Approach

If campaign A is not working for your business, you need to have an agency that is willing to shift gear. The agency should have a plan B and a plan C to ensure that you will always get the results that you want and need. If the agency is not flexible, the will not be able to provide you with the results that your business needs to move forward.

Of course, when you look at flexibility, you need to be careful with what the agency is offering you. The agency should never offer you a guarantee on the result from any campaign that they run for you. While it is possible to use data to try and determine what the results will be, there is no guarantee that what you predict will happen.

There are many different qualities that you need to look for in a digital marketing agency before you work with them. These qualities will include having the right tools for the job, having the right people for the job and having a flexible approach to your marketing.…

"What Qualities Make A Great Digital Marketing Agency"

Why Every Business Should Have An Honour Board For High Achievers

Good team leaders know that keeping the employees motivated is one of the key success factors of any business. However, this is easier said than done. It’s in our human nature to lose motivation in the absence of a moderate level of pressure. Furthermore, even the best workers and team players can lose their motivation if their achievements aren’t properly acknowledged and rewarded.

Motivation is Key

Monetary rewards are an excellent way of showing your best employees what a great job they are doing. Nonetheless, there are times in the life of a business when cash flow problems and other financial difficulties may prevent you from properly rewarding your people. In such situations, you need to get creative and come up with ideas to uplift the spirit of your teams and challenge them to perform. This is the role an honour board for high achievers can play in the overall scheme of things.

It is up to you whether you choose a weekly, monthly or yearly board. However, monthly boards are perhaps the most effective. They stimulate employees to compete against each other, the reward being tangible enough for them to keep fighting for a spot on your next board. Yearly boards don’t offer the same level of stimulation, as this timeframe will result in the fading away of your people’s interest. On the other hand, weekly boards aren’t challenging enough. People need to feel they have enough time to make a difference and get noticed, and one week is far from being enough. This is why you should probably settle for a monthly board, with a yearly addendum.

Competition is Great for Productivity

Even though many people claim they aren’t stimulated by such internal competitions, their belief proves nothing else than the fact that they don’t understand the human nature in its deepest details. According to psychology experts, humans have the urge to compete written in their genes. We compare ourselves against each other multiple times per day, without even acknowledging that we are doing it. By implementing an honour board for your highest achievers, you’ll plant the competition seed in the brains of all your employees. Their work shall reflect this, so you may soon notice a nice productivity boost among your workers.

These are a few reasons why you should consider implementing an honour board and communicating it to all people in your company. The sooner you do it, the faster you’ll be harvesting its fruit. Large multinational companies hire psychologists for a reason. They know how powerful our biases are. They also know how simple actions such as the addition of an honour board can do wonders for the profitability of a business. When your employees try harder, they improve their productivity. As productivity is in direct relationship with profit, it’s easy to understand how making your teams more productive can influence the bottom line of your business. If you haven’t thought about this by now, it’s just about time to reconsider this elementary, yet powerful idea.…

"Why Every Business Should Have An Honour Board For High Achievers"