Crunched Blog

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Understanding The 4 Basic Account Reports

Understanding The 4 Basic Account Reports

Maintaining sound accounting reports is a critical part of being a small business owner. If you’re not already doing so, it’s never a bad time to jump in and take control of your finances. Managing these reports on a regular basis will help ensure that your business is fiscally healthy. They do so by helping you understand where the business stands financially on a consistent basis. July 11, 2017

Understanding The 4 Basic Accounting Reports

How To Raise Funds To Help Grow Your Business

How To Raise Funds To Help Grow Your Business

Growth is a primary goal for all small businesses. Some will grow immediately and organically through word-of-mouth or with the help of a self-funded start-up budget. For these types of businesses, you may eventually need to raise funds to help support your growth and cover the costs of additional product, supplies, and/or equipment. Others will need to raise funds right from the start to help launch and cover marketing, product, and/or staff costs. July 6, 2017

How To Raise Funds To Help Grow Your Business

The Difference Between a Bookkeeper and an Accountant

The Difference Between a Bookkeeper and an Accountant

One of the most important tasks you’ll have as a small business owner is managing your finances. (link to financial business essentials blog) As the business grows, and you take on more responsibilities, one of the first things to be outsourced is typically the financing. If you’re in a position to hire, it could be a good time to consider hiring a professional bookkeeper and/or accountant.June 29, 2017

The Difference Between A Bookkeeper And An Accountant

8 Podcasts Every Small Business Owner Should Listen To

8 Podcasts Every Small Business Owner Should Listen To

Whether you’re a small business owner just starting out or you’ve been at it for a while, it’s never a bad time to seek advice on how to improve. Podcasts are a great resource for a range of small business information that can be used to help manage and grow your organization. We’ve handpicked some of the most useful and well-produced podcasts for small business owners that cover a range of topics. The list includes shows about business finance and accounting, marketing, organization, networking, and inspiration. We hope you find a couple of keepers. June 27, 2017

8 Podcasts Every Small Business Owner Should Listen To

7 Financial Goals To Help Grow Your Small Business

7 Financial Goals To Help Grow Your Small Business

If you’re a small business owner or entrepreneur, growing your business is likely a top priority. Small business growth typically requires diligence and attention across a variety of operational, creative, finance, and management functions. Among these many tasks, setting financial goals will be one of the most important steps you can take to achieve growth. June 23, 2017

7 Financial Goals To Help Grow Your Small Business

Understanding Estimated Taxes

Understanding Estimated Taxes

For full-time employees working for a company, your employer automatically deducts taxes from your paycheck every time you get paid. At the end of the year, you receive a W-2 form, fill out your return, and — based on your deductions, dependents, etc. — you receive a refund check or pay out the money you owe. When you’re a small business owner, taxes require more consideration. It’s up to you now to make sure that you pay the correct amount of taxes within the appropriate timeframes. As a self-employed worker, you may need to pay estimated taxes on a quarterly basis.June 20, 2017

Understanding Estimated Taxes

6 Tips to Help Lower Your Overhead Costs

6 Tips to Help Lower Your Overhead Costs

Overhead costs are defined as ongoing business expenses not including those costs associated with producing goods or delivering a service. If your business sells beverages, for example, the materials or ingredients needed to produce the drink would not qualify as overhead. Costs like renting office space and business insurance would. Overhead costs are typically fixed expenses that do not directly contribute to the generation of profits. Lowering overhead expenses, however, can determine how profitable your small business is.June 15, 2017

6 Tips to Help Lower Your Overhead Costs

How Cloud Accounting Software Changed Bookkeeping

How Cloud Accounting Software Changed Bookkeeping

Technology has made all of our lives more interesting. For those involved in running or managing a small business, technology is continually allowing us to manage our tasks faster and with more ease. An array of online apps, software, and platforms available are automating a variety of processes and helping us be more organized and produce more accurate results. For small business owners, bookkeepers, office managers, and accountants, cloud accounting software has been a game changer.June 13, 2017

How Cloud Accounting Software Changed Bookkeeping

How To Attract And Retain Top Quality Employees

How To Attract And Retain Top Quality Employees

As a small business owner or manager, you’re likely juggling a wide range of tasks and responsibilities. Having the right employees in place can take a huge load off your shoulders and help you focus on the bigger picture. Attracting quality employees is the first step. After that, you need to retain them.June 10, 2017

How To Attract And Retain Top Quality Employees

Strategies For Improving Small Business Profits

Strategies For Improving Small Business Profits

For some small business owners, it can be a joy simply to turn a profit. If you’re doing so, you’re likely keeping a close eye on your finances and ensuring that your accounting and bookkeeping is managed properly. If you’re not yet profitable, then you may just be a few steps away from achieving this goal without even knowing it. Taking a look at your business and financial management strategies can help you improve your profits. It may just require a few tweaks.June 5th, 2017

Strategies For Improving Small Business Profits

7 Tips For Your Small Business To Get Paid Faster

7 Tips For Your Small Business To Get Paid Faster

Getting paid on time — or better yet, early — for your products or services is critical to having enough cash on hand to pay your expenses. As a small business owner, you likely need cash month to month to pay for inventory, payroll, equipment, rent, etc. Establishing measures to get your invoices paid faster will help alleviate stress and allow you to pay your own bills on time.May 30, 2017

7 Tips For Your Small Business To Get Paid Faster

Accounting Basics For Freelancers

Accounting Basics For Freelancers

Being a freelancer comes with a world of benefits, like flexibility in scheduling and the ability to choose your own clients. For most freelancers, not all tasks are created equal, however. Accounting and bookkeeping can be a drawback of the job for some. As a freelancer, you’re likely creatively driven, and most would rather not have to deal with the numbers and somewhat rigid process. Fear not — with some basic accounting guidelines, you can make the process fast and easy while ensuring that your bookkeeping is well organized.May 25, 2017

Accounting Basics For Freelancers

6 Tips On How To Manage Accounts Receivable

6 Tips On How To Manage Accounts Receivable

Accounts receivable is the term used to describe the money owed to you by your customers. Managing the accounts receivable process is critical for maintaining positive cash flow that will allow you to expand your business, pay your staff, vendors and creditors, and purchase company supplies. They are also important when you’re looking to accurately calculate your profitability and business income.May 20, 2017

6 Tips On How To Manage Accounts Receivable

How To Set Your Salary As A Small Business Owner

How To Set Your Salary As A Small Business Owner

Running a small business often requires managing a variety of tasks and departmental responsibilities. Typically, small business owners learn as they go. Operations, accounting, marketing, etc. can take up a lot of your time. It can be easy to overlook the importance of establishing how to properly set a salary for yourself, and how to pay it.May 15, 2018

How To Set Your Salary As A Small Business Owner

How To Manage Cashflow For A Seasonal Business

How To Manage Cashflow For A Seasonal Business

One of the toughest but most crucial aspects of running a small business is managing cash flow. Seasonal field service businesses, including carpenters and contractors, landscapers, electricians, HVAC professionals, etc., have a unique accounting challenge when it comes to managing this essential accounting function. Managing a positive cash flow can be a challenge when money is coming in 12 months a year. Seasonal businesses that only generate revenue a portion of the year, however, need a plan to stay in the black year-round.May 9, 2017

How To Manage Cash Flow For A Seasonal Business

Using Cloud Accounting Software To Reconcile Your Checkbook

Using Cloud Accounting Software To Reconcile Your Checkbook

Account reconciliation is a bookkeeping task that helps you maintain an accurate bank account balance. The process starts by having a record of every transaction that your small business conducts, including checks written, fees, online bill payments, debit card purchases, etc. Reconciling your accounts on a monthly basis will help you keep track of your funds, avoid overdrafts, and catch errors. Some small business owners, bookkeepers, and office managers still reconcile their accounts manually. However, more and more business owners are finally making the switch and using cloud accounting software to assist with this process.May 2, 2017

Using Cloud Accounting Software To Reconcile Your Checkbook

Essential Technologies for Small Business Success

Essential Technologies for Small Business Success

With technology advancing at a rapid pace, and more useful tools and software being introduced all the time, this is a great time to be operating a small business. Small business technology can help reduce workloads and automate processes so that business owners, bookkeepers, office managers, and operations managers can get more done in a more organized and efficient manner. For example, cloud accounting software can help you manage your finances, online platforms can help you automate social media postings, and the list goes on.  April 25, 2017

Essential Technologies for Small Business Success

How To Set Invoice Payment Terms

How To Set Invoice Payment Terms

Cash flow for many small businesses is the heart and soul of the operation. Of course, effective cash flow can’t occur if you’re not getting paid on time. If this is an issue, or if you’re just setting up your business, the first step should be to look closely at the payment terms of your invoicing process. Establishing payment terms that are crystal clear and communicating them effectively to your customers will help set up a framework for more consistent, healthy cash flow. April 17, 2017

How To Set Invoice Payment Terms