Profit Matters Bookkeeping Blog

Blog

We are going to be writing about so much cool stuff to help you grow your business, understand your financials and extract actionable insights. Our team will share with you how cloud, robotic automation, machine learning and AI is changing the way accounting will be done in the future. Sign up for our newsletter and check out our blog every Wednesday. You will also find useful business resources and tools.

How to Get Out of Debt For Good Using These 7 Powerful Tips

You may be tempted to leave this page or leave this window open to read another time. That is not how you should treat this page. Read and most importantly, act on these simple 7 steps on how to get out of debt for good....

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Accounting vs Bookkeeping

There is a great deal of confusion between the terms bookkeeping and accounting. These terms are often used interchangeably, but they represent different aspects of finance. Bookkeeping is concerned with recording financial transactions. Accounting is a broader term that encompasses the analysis, reporting, and interpretation...

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3 Affordable Upgrades to Modernize Your Small Business

Are you avoiding upgrading business technology due to high upfront costs? While staying low-tech may seem like a smart way to maintain your small business’s profit margins, failing to keep up with the times could do your business more harm than good. Not only does...

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Common Bookkeeping Mistakes You’re Probably Making Today

There’s no arguing about it – No one is perfect. Even big corporations make accounting mistakes all the time. But with the emergence of new and improved technologies, certain accounting and bookkeeping mistakes ought to have significantly reduced, if not eliminated. Today, we take a...

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5 Ways A Bookkeeper Could Help Boost Your Profits

Hiring a bookkeeper can sometimes feel like a burden to your business especially when starting out. Some businesses have even tried going it solo and relying on applications to do all the heavy lifting until things start getting out of hand. That is when they...

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Bad Business Practices That Will Get You in Trouble with the IRS

Tax evasion is a common malpractice among businesses. While innocent mistakes in reporting might occur every once in a while, willfully evading taxes can have some serious consequences on your business. The difference between tax avoidance and tax evasion is that the former is innocent...

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How to Shape Up Your Finances Once and for All

Keeping your finances in good shape easily be a full-time job for many of us. Between boosting credit scores and making sure the bills get paid on time, there is an incredible number of things that contribute to our financial stability. That’s why it’s so...

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Analyzing Financial Statements to Increase Profits

As a business owner, analyzing financial statements gives you key insights necessary for understanding what is working and what requires some improvement. Whether you outsource your accounting/bookkeeping or not, you still need to understand the basics about financial statements due to the magnitude of what...

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Real Estate Accounting: These 3 Mistakes Will Bring Your Business Down

Real estate as an industry has many facets that are confusing, and the accounting part is certainly not as easy as many like to think. The success of your real estate business relies on, among other things, the accounting treatment of various items. Business owners...

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Is Your Bookkeeper an Idiot? Watch Out for These 3 Sure Red Flags

I’ll be honest with you: accountants and bookkeepers are some of the smartest people in the business world. They are in charge of maintaining order in a company’s business records, preventing and detecting errors and fraud, setting complex budgets and forecasts, among other things. In...

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