3 Accounts Payable Best Practices

BY Eddy Hood IN Small Business Accounting ON Jun 27, 2019

The accounting industry is often romanticized as an exciting and debonair world busting at the seams with intrigue that could rival any Bond film. While that’s 100% accurate, it’s also true that there are some aspects of accounting which are slightly less appealing than 1960’s Sean Connery. Accounts payable may not be the sexiest part of business, but it is crucial nonetheless.

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2019 Outsourced Accounting Services Buying Guide: Costs, Questions, and the Lowdown

BY Eddy Hood ON Jun 25, 2019

If you think outsourced accounting services might be the way to go for your company, but you’re not sure if it’s the right move, this post will help. I’m going to lay it all out there for you: The good—the bad—and the ugly.

We’re going to talk about current prices, trends, and technologies as well as all the pros and cons of working with a virtual accounting firm.

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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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