How to Set up Your Chart of Accounts

A Chart of Accounts is simply a list of accounts used by your business all in one spot. A great chart of accounts also includes a guiding numbering system that tells you what types of transactions go into each account. A Chart of Accounts, while not complex in nature, does require a lot of management,…

Prepare For the IRS Auditor In 9 Steps

Getting audited for your tax returns is an experience that many would be happy not to go through. A lot of business owners prefer not to undergo close scrutiny from any Internal Revenue Service agent. Such process can be taxing and strenuous, but this situation can be downplayed. According to Certified Public Accountants, only 1%…

How-to: Create an Overview Accounting Report for the CEO

Businesses frequently require transparency in a number of different fashions. One of the most common ways for a business to provide information about the financial dealings of the company is through overview accounting reports. In some instances, providing a thorough and accurate description of expenditures is necessary (especially if you want to comply with federal…

3 Reasons You Need a Financial Controller

Accounting is one of the most vital aspects of your business, and, as such, you need appropriate accounting leadership. A financial controller provides a number of services that you can’t get from non-accountant employees. Of course, proper accounting is important, not just because it helps you keep good records. In fact, 50% of businesses in…