Shortcut Your Management Time with Exception Reporting

Posted on 17. Sep, 2014 by in Small Business Tips, VirtualConnections Newsletter

By Linda Siniscal Do you spend a lot of time reviewing stacks of reports each month so you can get the information you need to make decisions?  Do you find out after the fact that something went wrong in your business and that if you had known about it sooner, you would have made different [...]

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How to Read Your Balance Sheet

Posted on 10. Sep, 2014 by in Small Business Tips, VirtualConnections Newsletter

By Linda Siniscal The Balance Sheet is an important report in your business’s financial statements.  Most small business owners are unsure of what all of the numbers mean on this report, so let’s see if we can shed some light on what they mean. A Summary of Balances One big characteristic of a balance sheet [...]

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Five Ways to Go Green with Your Accounting

Posted on 05. Mar, 2014 by in Small Business Tips, VirtualConnections Newsletter

With St. Patrick’s Day and spring arriving, March is a great month to have “green” on the mind.  There are green shamrocks, green beer, the green of new vegetation, and there’s even green accounting too.  Here are five ways to make your accounting a little more green. Business Receipts      When you spend money [...]

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Is Your Business Using the Right Accounting System?

Posted on 05. Feb, 2014 by in VirtualConnections Newsletter

Have you ever tried on a shirt or jeans and found they didn’t fit at all?  They looked great on the hangar, but that was the end of it.  Accounting systems come in all sizes, shapes, and colors just like clothing; and just like clothing, some accounting systems fit your business better than others.  It’s [...]

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Five Fall Projects to Refresh Your Financial Results

Posted on 30. Oct, 2013 by in VirtualConnections Newsletter

As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach the year’s end in better shape.  Here are five ideas:  1.     Back-to-School Time If payroll expenses are one of the higher costs in your [...]

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Five Places Where Spending More Pays Off

Posted on 11. Sep, 2013 by in VirtualConnections Newsletter

It’s generally a good idea to keep overhead costs low so that your business profits will be higher.  This is especially true with items that are easily commoditized and fairly standardized, such as utilities and rent.  But there are times when increasing expenses pays off nicely, and here are five areas to consider so you [...]

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What Does Popeye Have to Do with Accounting?

Posted on 22. Aug, 2013 by in VirtualConnections Newsletter

You might have heard the terms “cash basis accounting” or “accrual accounting.”  Your net income number can change depending on which method your books are set up for.  Here’s a simple explanation of the difference, with a little help from one of the most famous cartoon characters in history. Popeye and Wimpy You might recognize [...]

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Need an A/R Makeover? A Quick, 5-Item Best Practice Checklist

Posted on 18. Jun, 2013 by in Bookkeeping Articles, VirtualConnections Newsletter

Technology has allowed businesses to make substantial improvements in their customer invoicing processes.  The good news is that when you implement these technologies, you will almost always get paid much faster. If it’s been a few years since the last time you’ve changed your accounts receivable processes, it’s time for a new look.  Here are [...]

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What Is Cloud Accounting?

Posted on 04. Jun, 2013 by in Bookkeeping Articles, VirtualConnections Newsletter

One of the most exciting changes in the accounting industry is cloud accounting.  The concept is easy to grasp:  cloud accounting simply puts your accounting system in a private space online so that it is fully accessible to you via a browser or a secure remote connection. Two Ways to Be in the Clouds There [...]

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Is It Time for Your Business to Switch to Paperless Accounting?

Posted on 19. Sep, 2012 by in Misc. Articles, VirtualConnections Newsletter

Every industry goes through natural phases of transformation. As new technology becomes available, new processes are developed. Accounting is not exempt. Only a few years ago very few accountants used computer software to prepare tax returns for their clients. Now it’s not a question of whether an accountant uses software to prepare tax returns, but [...]

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