Accounting Services

  It can be difficult for an owner to consistently turn a profit - even if they've been in business for several years. While your sales continue to increase, there could be a number of hidden reasons why your net income is not increasing at the same rate. If you're not sure why you're not profitable, here are six questions to ask yourself and then outsource Accounting services to minimize the chances of loss. Am I spending too much money? - Symptom: Both consumers and businesses can develop the bad habit of spending more than they take in. - Snapshot: take a look at what you spend your money on. Your operating ratio (the company's operating expenses as a percentage of sales) shows operational efficiency. The lower, the better. Am I billing too little? - Symptom: Many businesses, especially in service industries, are reluctant to raise their prices for fear of driving themselves out of business. The cost of running a business keeps rising due to increasing min...

  Have you ever racked your brain wondering where accounting ends and bookkeeping begins? Well, you've come to the right place. In this blog, we'll walk you through the key differences between bookkeeping and accounting so you can feel confident investing in the right services for you and your business. Both bookkeeping and accounting are important pillars for the financial success of a business, but they perform two slightly different tasks: Bookkeeping Bookkeeping focuses on keeping an accurate track of a company's cash inflows and outflows. It's about the day-to-day flow of money and keeping finances on track. In recent years, accounting software like our popular Xero has allowed business owners to reclaim the time they would have otherwise spent on bookkeeping. With the click of a few buttons on a smartphone, people can access and update their financial data from anywhere in the world. This is key to being able to focus on accounting, which is about the big p...