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Who we worked with Chera had been baking since she was young. It wasn’t until she and her husband Geo organized a Filipino-American pop up dinner in 2013 (which quickly became a monthly series) that she realized her Filipino inspired dishes were in high demand. The pair started selling their ube cheesecake wholesale for grocery […]

Dear Accountant, I have an awesome accounting team. They send me my profit and loss statement every month like clockwork, which is great. When I get it, I usually just go right to the bottom of the page. I’m having trouble making sense of anything else. I try to read it and take it all […]

Taxes Noun. [tak-sez] Accrued Dictionary definition: Toll bridges on your year long journey. You see the “tolls ahead” signs and have to slow down, figure out how much you owe (Am I two axles or six? What exit did I get on? Do I have to pay for that part of my trip, or just […]

It’s fun and exciting to grow a hobby you’re passionate about into a full-blown business. But how do you know that your products are priced right? Abacus the Accountant takes on calculating your break even point, figuring out labor costs, and even taking into consideration your brand in this week’s edition of Dear Abacus.

There are tons of ways to pay yourself for your time spent in your business. Owners draw, taking money right out of the bank account, getting a regular paycheck. But what’s right and wrong for your business? Abacus the Accountant takes on the best (and legal) way to pay yourself in this week’s edition of Dear Abacus.

By having a clear process for reimbursing mileage and keeping a written record for your files, you can avoid disputes down the line and ensure your employees stay happy. Here is a recipe for paying employees for all the miles they drive, including easy to follow directions, tips and tricks for staying up to date, and an ingredients list. Bon Appetit!

Last year, you brought in a CFO to create a business plan and projections so you could fundraise. They created a 5 year plan showing how you’ll spend and earn money. It looks like a budget sheet, so you use it as one. Now you’re not hitting your marks and you’re not sure why. Here’s the deal, you need to spend more time with the “real” projections.

Being stuck between your passion and your pay is a hard place to be. Business is tough. The mechanics of business are, unfortunately, more complex than just being passionate. Abacus the Accountant talks making these hard decisions in business and what to do next in this week’s edition of Dear Abacus.

By paying your bills on time, you can make sure you don’t put strain on your relationships with vendors and contractors. The people you work with hold you to a higher standard when you promise the return of payment. If you don’t meet that standard, they might think you are an unreliable partner. Here’s a recipe for paying bills weekly. Bon Appetit!

You’re looking for a new point of sale software. You need something that records your transactions and collects data on your sales. You find one that’s user friendly and has a sleek interface. And look! It integrates with all your accounting software. That must mean it’s the best option, right? Here’s the deal. Integrating software does not always mean more efficient work.