Introduction As we approach the end of another incredible year, it’s time to reflect, celebrate achievements, and set our plans. We’re proud to work with all types of businesses at Graceful Accounting. Whether you’re a creative entrepreneur, a passionate freelancer or a proud business owner who feels that maybe 2023 could have been better, an […]
Are you using artificial intelligence? As we see artificial intelligence (AI) more and more in daily life, we’re also hearing debates and speculations about its potential to replace traditional professions, including bookkeepers and accountants. While AI is transforming the finance industry, the question remains: will it make finance professionals (like me!) out of a job? […]
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Introduction For small business owners, tax season can be a stressful and daunting time of year. It makes sense that you’d prefer not to think about it, but as a bookkeeper, every year, I see business owners feeling stressed as the season approaches because they know deep down that rushing things and leaving them to […]
When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, […]
Running a small business is rewarding, but it comes with various challenges, finances being one of them – especially when the geopolitical landscape has gone wild, and numbers aren’t your thing. Whether you’re an entrepreneur struggling to keep your small business afloat or a seasoned business owner trying to navigate unpredictable economic times, handling finances […]
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“Outsource your weaknesses.” So says start-up guru Sujan Patel when advising small business owners to get outside help for tasks like payroll and bookkeeping. And when you consider that 70% of businesses fail due to poor in-house financial management, Patel’s advice seems spot on. Unfortunately, many small business owners seek to keep costs low by […]
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How often do you feel like a superhero, taking on the world and tackling everything that comes your way? If you’re a small business owner, chances are it’s more often than not! The demands of running a small business can weigh heavy on our shoulders at times, and as business owners we often try to […]
School holidays can be tough on small business owners. Balancing work and holidays can be tricky, especially when you and your team want to take some time off with family. You want to keep the business running smoothly while getting some time out. That’s where hiring a bookkeeper comes in. You might think you […]
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While working at home as a freelancer sounds like the ultimate dream for anyone who tires of the rat race, freelancers still have more than their fair share of financial matters to worry about. In fact, perhaps the most important trait that any freelancer should have is the ability to be fully responsible and accountable […]
Managing family finances can be daunting, but it can be a smooth and practical experience with the right tools and mindset. Here are some essential steps for managing your family’s finances, including budgeting, saving, and planning for the future. Budgeting Budgeting is the cornerstone of managing family finances. It involves creating a spending plan that […]
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Most small business people would agree that their Profit and Loss account (now more correctly called a Statement of Financial Performance) is among the easier – if not the easiest – financial document to understand. It’s typically presented in two parts. The top half of the statement reveals the various sources of income the business […]
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management […]
These days, you can use technology to take care of almost any issue facing your business. If you have a task you don’t like to do, there’s an app or software program to take care of it for you. It might take a few moments of your time to learn and understand how the software […]
