Why Small Businesses Should Hire an Outsourced Controller: A Conversation with an Expert In this blog post, weʼre diving into the reasons why small businesses should consider hiring an outsourced controller. Iʼm having a conversation with Sarah, an experienced financial consultant who works with small businesses to streamline their finances and accounting operations. Sarah: Hey

Capitalization of Tangible Property refers to the accounting practice of recording the cost of tangible property (such as buildings, machinery, equipment, or vehicles) as an asset on the balance sheet, rather than expensing it immediately in the period it was purchased. This practice aligns with the matching principle in accounting, which dictates that expenses should

CFO Could Be the Game Changer Your Business Needs Hey there! If youʼve found yourself on the fence about whether to hire a full-time CFO or explore the option of outsourcing a fractional CFO, youʼre not alone. Many business owners, especially those in growing companies, wrestle with the same question. Letʼs have a candid conversation

Have you ever asked yourself, “My profit and loss statement says I made this much money, but it doesn’t match my bank balance—why?” Many business owners wonder about the difference between profit and cash in their bank account. This common confusion stems from how profit is calculated using accrual accounting, which records income and expenses

What is Bookkeeping? A Beginnerʼs Guide In the world of business, whether you’re a small startup, a freelancer, or managing a large corporation, one thing remains essential: keeping track of your financial records. This is where bookkeeping comes in. But what exactly does bookkeeping involve, and why is it so crucial to the success of

As a business owner, managing your finances and staying on top of taxes is essential to ensure the long-term success of your company. While hiring a Certified Public Accountant (CPA) to prepare your tax return is a smart move, it doesn’t mean you can sit back and forget about it. In fact, it’s crucial for

What Is a Fractional CFO? A Guide to This Essential Business Role In today’s rapidly changing business landscape, many companies—especially small to mid-sized businesses—are discovering that they need advanced financial expertise but can’t justify hiring a full-time Chief Financial Officer (CFO). This is where a fractional CFO steps in. But what exactly is a fractional

Creating consistent positive cash flow requires careful planning, effective financial management, and attention to key metrics. Simply put, cash flow is the movement of money into and out of your business—maintaining a positive flow means ensuring more money comes in than goes out. Here are several strategies to help you achieve this: 1. Ensure Proper

How to Work with Your Accountant: A Guide to Building a Strong, Productive Partnership Working with an accountant can be one of the best decisions you make for your personal or business finances. But, like any professional relationship, it requires clear communication, trust, and collaboration to truly be effective. Whether you’re managing a growing business