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A collection of knowledge, stories, and insights into today’s accounting world

Accrued Dictionary

Accounts Payable Aging

So your accountant is working on “accounts payable aging.” He says it means “a report that shows what bills you still owe vendors, how overdue they are, and how much you have to pay right now to stay on top of them,” but all you hear is “bills, bills, bills.” This is what your accountant really means when he says the words “accounts payable aging.”

Behind the Scenes

How One Accountant Pressed Pause on her Sunday Afternoon to Settle an Unassuming but High Priority Request from Her Client.

Accountants frequently stay late or work on weekends to meet urgent and important requests from their clients. Due to the nature of these requests, even the smallest task can be so integral to a business’ future that accountants have no choice but to help. Here’s a story of why one accountant paused a family game to send her client some paperwork.

Day in the Life

It’s Client Onboarding Day- A Day In The Life of an Accountant

Today is client onboarding day. These are the days accountants take the reins from their account management team and meet their clients for the first time. Client onboarding days start with a lot of research into the company and what they do, preparation, and quite a few meetings to discuss its needs, priorities, and expectations of the accountants.

Calculated Ingredients

A recipe for storing your accounting documents in one place

By keeping all your accounting related documents together in one folder, you can help streamline processes like filing taxes and audits. Here is a recipe to save time by keeping all your documents in one organized accounting folder on your company’s server, including easy to follow directions, tips and tricks, and ingredients you need. Bon Appetit!

Accrued Dictionary

Bank Statement Reconciliation

So your accountant is talking about “bank statement reconciliation.” He tells you that it means something along the lines of “reconciling bank accounts with financial reports,” “deposits and withdrawals,” and “truing up your transactions,” but all you hear is static. Here’s what he really means when he talks about, “bank statement reconciliation.”

Accounting

5 Profitable Reasons You Need to Get Accounting Services for Your Business in Seattle

You may think doing your own accounting is a great idea. In theory, it saves you money, you can be deeply involved in all aspects of your business, and can grow. However, this isn’t usually the case. Using an accounting service to handle your finances may be the best way to grow your Seattle based business. Here are just a few of the reasons why.

Accounting

How to Choose an Accounting Firm for Small Business that Best Suits Your Needs

So, you’ve decided to outsource your accounting. There are so many different types of firms that specialize in so many different things. How do you know you’re making the right choice for your business? We’ve made your decision a little easier by putting together a list of five questions you should ask yourself while you search for your best match.

Accounting

Reading and Evaluating a Balance Sheet

Okay, now Susan has a better picture of her business through understanding her profit and loss. But what if she wants a big-picture look at her business? What happens to her assets and liabilities? This is where a balance sheet, a report showing what a company owns and owes, comes in. Here we will describe the bare necessities of balance sheets.

Behind the Scenes

A Behind the Scenes Look Into the Journey of a Client-Accountant Relationship

It’s easy to think that accountants spend most of their time behind a computer analyzing data for clients they don’t get to know. What people don’t realize is that accountants spend sometimes years cultivating relationships with their clients. Over the course of five years, one accountants’ professional relationships transformed into a friendship.

Accounting

How to Set Up an Easy to Use Accounting System in 5 Easy Steps

An important part of guaranteeing success for your small business is setting up an accounting system that works for you. Getting started may seem like daunting, but it’s pretty straightforward. In this article, we will take you through setting up an accounting system for your small business, from creating a bank account to choosing the best software.

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