What is a Workflow and Why Every Business Needs Them
Whether you are a business owner or employee, you likely deal with workflows regularly. Workflows are different for each company and industry.
At In The Books we use separate workflows to accomplish different tasks, such as onboarding new clients and recording income and expenses. So, what exactly is a workflow and why is it important? In this article, we answer both questions and provide examples on how to build a workflow.
The Four Bookkeeping Steps Every Business Owner Needs to do Every Month
Bookkeeping is recording the financial transactions of your company to keep track of money coming in and money going out. Bookkeeping is commonly associated with entering transactions into QuickBooks or another accounting program. Recording transactions is an important step in the bookkeeping process, but not the only one.
Effective bookkeeping also involves gathering necessary documents, such as receipts and invoices for transactions, and preparing a system that does not overlook transactions. The overall goal of bookkeeping is to gain an insight into the financial performance of a company and prepare the business for tax season.
Sales Tax 101: What You Need to Know to Run a Small Business in Canada
Ack! The dreaded (but necessary) taxation of your small business. Wherever you reside and operate in Canada, you can be sure that there will be some sales tax you’ll need to charge, collect and reconcile come tax time. Here’s what you need to know:
Does my business have to collect sales tax?
Keeping It Social – Activities to Engage Remote Work Teams
Did covid move you to a virtual work environment? Or have you always been a remote worker? Whether it’s new or old-hat, building a strong team is essential to engagement and career fulfillment.
So, how do you engage your team to be social when they’re miles (or even doors) apart?
Virtual Team Building
The 4 Questions You Need to Ask Yourself When Starting a Business
Being an Entrepreneur sounds sexy. Working for yourself. Being your own boss. Able to do what you want, when you want to, and make money doing it. It has some major appeal but did you know, statistically speaking 9/10 businesses fail within the first 3 years?!?!
That’s a dangerously high figure.
While most people think being an Entrepreneur sounds fun… what it really takes is a lot of discipline, savvy, and a willingness to learn as you grow.
The Difference Between Contractors & Employees
Are you at the point in your business where you need to start looking at adding to your team? Hiring the right people can be foundational to your success. Many small business owners struggle with whether to hire a contractor or a full-time (or even part-time) employee.
Reconciliations. No big deal, I promise!
Reconciliations. No Big Deal, I Promise! https://youtu.be/DL0PUmMXQ3c Reconciling is one of those words that sound like something a whole lot more complicated than it really is. I promise! The act of reconciling your accounts is simply checking off the transactions that are in your accounting system/ records against what your statements show. That’s it! To […]
Understanding Your Company’s Chart of Accounts
Let’s face it… live events don’t appear to be coming back quickly and many of us are holed-up in our homes drafting email after email to our colleagues and clients. It’s a letter-writing game and the winner is the one who can truly build rapport with their written words.
Managing Your Cash Flow
Let’s face it… live events don’t appear to be coming back quickly and many of us are holed-up in our homes drafting email after email to our colleagues and clients. It’s a letter-writing game and the winner is the one who can truly build rapport with their written words.
