Goode Bookkeeping & Consulting Blog

If you’re like many small business owners, you wish your workday could be a bit easier. You put forth a lot of extra effort every day, but that’s often what it takes to succeed. For tasks such as bookkeeping, you could (and probably should) work with a trained...

As a small to a medium-sized business owner, you have a lot on your shoulders. You handle so many tasks, and it’s easy to lose track of one thing or another. That’s particularly true with DIY bookkeeping. Tracking your financial data requires meticulous daily...

If you’re one of those hardworking, do-it-yourself business owners, you run your business with as little help as possible. There’s nothing wrong with working sun-up to sun-down...and beyond sometimes. You probably get a lot of satisfaction out of your hard work and...

When your small business receives an IRS Audit notice, it can come as a complete surprise. Tax audits often seem random and unfair. For the IRS, data analysis often makes auditing an unavoidable, systematic process. Like most massive organizations, the IRS relies on...

If you believe every commercial you see on TV, you can run a wildly successful small business out of your garage. You can do all the work without help, and you can become an overnight success. All you have to do is download the right bookkeeping app on your...

When you go into business, you expect to do more than your share of the work. That’s what business owners do to get their operations up and running. When you're cutting back on expenses, it makes sense to perform the tasks you already know how to do. It probably won't...

As the owner of a small to medium-sized business, you learn that consistency is essential to keeping your business moving forward. You set your goals. You open up on time every day. To top it off you respond when the phone rings, and you greet your customers and...

If you’ve made the giant leap from paper to digital, you probably still have paper bookkeeping documents everywhere. If you’re like many businesses trying to make a digital transition, you still have file cabinets full of bookkeeping papers and other stacks of paper...

As a business owner, you've had a long, challenging year. Until you get through the 2021 tax season, it's not quite over yet. If you're like many businesses, your 2020 was all about lockdowns, layoffs, financial difficulties, reopening, sanitizing, and other...

Of course, you haven’t had time to think about the Taxpayer First Act. If you’re like most business owners, you’ve been busy trying to make sure your business stays up and running. The good news is that the TFA didn’t include any sweeping economic changes like the Tax...

If you work at home or you were one of many business owners to run your business from home during the pandemic, you’re probably counting on a home-office tax break next January. It probably won’t work out that way. Changes implemented by the 2017 Tax Cuts and Jobs Act...

As a business owner, you’ve endured your share of economic upheaval over the past months. In late March, Congress passed the Coronavirus Aid Relief & Economic Security Act to provide emergency financial relief. Complying with CARES Act requirements has been...

If you received a Paycheck Protection Program loan, you probably didn’t need help with PPP compliance. The program was a Cares Act provision. The application process was designed to respond as quickly as possible. You didn’t have to provide collateral or personal...

If you’ve always run your business on a cash-only basis, now is a good time to rethink your options. Like all local business owners, you’ve probably been working through some pretty tough times. If you’re up and running, that means you’ve made the necessary changes to...

If you’ve been in business for a while, you’re probably paper-addicted. If you’ve considered breaking your paper habit but just couldn't do it, you should know that there is always hope. Paper-addicted business owners rely on paper... everything! You send paper bills...

If you’ve ever gone through an IRS audit, you know that it’s often a hand-wringing experience. The IRS’s goals are no mystery. The examiner wants to verify that your tax return is valid and to substantiate your deductions. He also wants to know that you’re properly...

How can you tell if you need a bookkeeping service? Is size the primary measure? What if you’re a small but very busy business? Do you need a bookkeeper if you’re an artsy/creative type with a small but profitable customer base? Yes. Yes. Yes. That’s the answer to all...

How Hard is it to Keep Your Bookkeeping Up-to-Date?   As a business owner, you work long days and sometimes you work into the night. Even when you have the best of intentions, there’s no way to keep up with everything. At least you stay on top of the important...

When you run a small to medium-sized business, DIY is often your go-to way to get things done. For a number of important reasons, bookkeeping shouldn’t be on that list. When you DIY your bookkeeping, you can keep an eye on your financial bottom line. That’s a good...

You work hard to keep your business up and running. During the day, you manage employees, make sales calls, and you fill in where necessary. At the end of the day, instead of heading home, you document and track financial data, manage invoicing, and evaluate your...

Bookkeeping is a love-it-or-leave-it responsibility. If you don't love doing your bookkeeping, you should probably leave it to a professional. If you do it because you feel you have no choice, it's perhaps the least engaging, most tedious task of your day. It's no...

Are you a DIY business owner? (When you have a task and no one to do it, you just do it yourself.) Like many entrepreneurs, you DIY whether or not it's not the right thing to do for your business. You DIY even when it’s not what’s best for you. Maybe you skip lunch...

As a small business owner, you plan for every detail. You budget for major operational costs. You cut expenses by taking on many tasks yourself. Unfortunately, you need a crystal ball to predict the time and effort it takes to perform back-office tasks such as...

Are you one of those hardworking DIY people who does your small business bookkeeping? If you do, you probably spend nights wading through invoices, reconciling bank statements, tracking down lost receipts, and performing other tedious tasks? That makes sense when your...

If you’re a business owner, you can get just about anything you need without leaving the building. Outsourcing makes it less expensive to hire the experts you need. The cloud made it easier to work with your experts, even if they’re a thousand miles away. Bookkeeping...

As a business owner, it’s your job to get things done so that’s exactly what you do. Running payroll and keeping your accounts receivables up to date. You also reconcile your bank deposits and payments and make sure you have enough cash to pay the people you owe. Even...

One of the nice things about being in business is that you can hire your cousin when he needs a job. Your relative gets a career. You get a dedicated employee who you’ve known your whole lifetime. Your auntie and uncle will think of you as their favorite nephew. It’s...

As a small business owner, you get to decide how to handle your bookkeeping and financial documents. If paper checks and snail mail invoices give you peace of mind, you should hang onto them. But before you shun important digital bookkeeping alternatives, here are a...

Just imagine. You’ve had a productive Friday morning. Everything is running on schedule. But just as you decide to take a break, a crowd of employees begins gathering outside your door. You can’t imagine why until you have a painful flashback. You didn’t finish...

Before you order products, hire a new employee, or make any financial decision, you must understand how much money is flowing into your business. Keeping up with your accounts receivables is critical to that process. An Aging of Accounts Report helps by compiling all...