When sending a payment reminder to a client, you should include the amount owed, payment due date and the acceptable payment methods like check or credit card. We recommend that you make a payment request within 24 to 48 hours upon completion of the job and, most importantly, maintain a professional yet friendly tone in…
5 Best Virtual CFO Services for 2018
Virtual CFO services give you access to a chief financial officer (CFO) who can help your business grow by implementing ways to raise capital, set key performance indicators (KPIs) and review and analyze financials to identify risks and big-hit opportunities. We looked at several companies and narrowed it down to the top five based on…
How to Do Petty Cash Accounting & Recording in 4 Steps
A petty cash fund is a small amount of money, usually under $500, used to cover incidentals. Petty cash accounting involves establishing a petty cash policy, setting up a petty cash log, creating journal entries, and reconciling the petty cash account. Accounting can be done manually or made easier with bookkeeping software and employee expense…
Petty Cash Log, Form & Voucher [+ Free Templates]
Petty cash is a convenient way to cover small expenses but without the proper documentation, a company’s petty cash program can be abused or mismanaged. Managing petty cash means providing a petty cash form for each use and recording every transaction in a petty cash log. Using our free petty cash templates will make this…
Top 23 QuickBooks Shortcuts & Tips from The Pros
QuickBooks is a useful accounting software for small and medium-sized enterprises. Though it’s generally an easy program to use, there are many things you may not be aware of that can help increase your productivity and decrease the amount of time you spend in the software. We spoke with the experts who shared different ideas,…
How to Manage Accounts Payable
Accounts payable (A/P) is the money you owe vendors who have provided you with goods and/or services on credit. It’s crucial to stay on top of your bills because, if you don’t, it could lead to cash flow issues and penalties for late payments, and it could even affect your ability to order products and…
How to Get Bookkeeping Clients in 4 Steps [+ Free Marketing Ideas]
Learn how to get bookkeeping clients quickly by first identifying your target audience, then implementing marketing ideas to reach your potential clients, followed by joining a few networking groups and finishing off by offering additional services like payroll or tax prep to your existing clients. You can typically get started with all of these steps…
How to Start a Bookkeeping Business in 8 Steps
A bookkeeping business consists of managing income and expenses, processing payroll and preparing tax returns for business clients. Creating a business plan and learning how to get clients are a couple examples of what you need to do to get up and running. If bookkeeping is just going to be a way to make some extra…
How to Write a Collection Letter [+ Free Templates]
Writing a collection letter requires you to follow the right step-by-step process and include the right language to give your customer official notice that a debt is owed and past due. You will typically send a total of four letters before hiring a collection agency or recording a bad debt expense. Collection Letter Templates There…
TurboCASH vs. GnuCash: Price, Features, & What’s Best in 2018
TurboCASH and GnuCash are free open-source accounting software products for businesses that want to build a software to meet specific needs. GnuCash is the better choice for most businesses, but TurboCASH is best if you need more than one user license. Small businesses looking for free accounting software should go with a much simpler product….
Where to Find Freelance Bookkeeping Jobs for Free or Low Cost
Whether you are a bookkeeper looking for full-time employment or a freelance bookkeeper trying to drum up new clients, there are some terrific job sites you can choose from. Some job sites offer paid memberships for a few premium services, but most of the sites are free and we recommend you apply to those first….
Accounts Receivable Aging Report: The Ultimate Guide
An accounts receivable (A/R) aging report shows all unpaid customer invoices grouped by the number of days outstanding. If you use online accounting software, you can create this report in a few minutes. Otherwise, you can create it manually in a Microsoft Excel spreadsheet. To avoid delinquent invoices, review this report monthly, and follow up…