Entrepreneur ESP: The Impact of Intuition on Your Business

BY Eddy Hood ON Jun 19, 2019

 

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Income Statement and Balance Sheet

BY Eddy Hood ON Jun 17, 2019

For reasons unknown to ourselves, bookkeeping isn’t everyone’s favorite topic. Despite that fact, keeping detailed financial records remains an integral part of successfully operating a business. This means that understanding the finer details of accounting can go a long way in keeping your business in the black. Teaching people about accounting is easily one of our favorite things to do at Ignite Spot.

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The Elusive Accounting Consultant

BY Eddy Hood IN Common Questions on Outsourced Accounting, Small Business Accounting ON Jun 12, 2019

Accounting is an incredibly important aspect of successful businesses. Expert accountants help businesses stay on track and ensure cash flows smoothly through the organization to enable operations and empower sustainable growth. The value offered by accountants is immense but finding trained accounting professionals to staff in your company is neither easy nor cheap.

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Basics of QuickBooks

BY Eddy Hood ON Jun 6, 2019

Keeping track of the flow of a business’s finances is easily the most important piece of data for a company. Ultimately, regardless of the industry or niche being served by your organization, turning a profit is the most important aspect of operations. After all, without money, your business can’t stay afloat. This means keeping tabs on finances is paramount for all business owners.

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AGI vs Taxable Income

BY Eddy Hood IN small business tax preparation ON Jun 3, 2019

Let’s talk about everyone’s favorite subject: taxes! Just like death, taxes are a constant source of lighthearted fun. While taxes are universally loved by all, they are also known for being the slightest bit confusing at times.

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Restaurant Bookkeeping: A Recipe for Success

BY Eddy Hood IN Small Business Accounting ON May 29, 2019

Keeping a business running smoothly requires significant attention to detail and careful planning. This is especially true for restaurants due to their large variance in daily sales numbers and the volatility of their inventory. Variable costs of foods, seasonal availability of ingredients, and the rapid spoilage of produce make inventory maintenance and budgeting a constant source of ire for restaurant owners.

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Budget vs Actual Analysis

BY Eddy Hood IN cfo services ON May 24, 2019

Just about every industry and hobby has its own hodgepodge of buzzwords and jargon. Accounting is by no means an exception to this rule. While these dastardly, long-winded terms can often be a source of consternation for those trying to get a grasp on an unfamiliar subject, they do actually exist for a purpose. In pursuit of shedding some light on the wonderful world of accounting (and hopefully scaring off a few cockroaches), we’ve put together this post for demystifying one such term: “budget vs. actual.”

 

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Budgeting and Forecasting: What's the Difference?

BY Eddy Hood IN cfo services ON May 20, 2019

Businesses come in many shapes and sizes. There are small businesses that make giant mansions and big businesses that manufacture microscopic cells. The one factor that all businesses share in common is their singular reliance and focus on making a profit. After all, businesses cannot survive without money flowing through their accounts much like humans can’t live without blood flowing through their veins (zombies being the only exception).

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Most Common Online Bookkeeping Mistakes

BY Eddy Hood ON Apr 22, 2019

Online bookkeeping is a great option for businesses these days. It allows you to scale your financial team in a way that makes sense for your budget and your needs.

But online bookkeeping isn't without its faults. In this article, we're looking at some of the things that can go wrong and how to avoid them.

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8 Benefits of Outsourced Accounting Services

BY Eddy Hood ON Apr 17, 2019

Outsourced Accounting Services have become a great option for even the largest of companies these days, but are they really all that great? We're biased, so we think so. Here are eight reasons why you might want to consider using a virtual accounting team.

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