Dan Fine’s Post

This week, Hayley talks about how its not only important to have the right tools in place with your accountancy but to also have the expertise behind you to succeed. https://lnkd.in/dUWsZ-mQ

Are you a small business looking to secure government contracts? Ensuring DCAA compliance can be challenging, but it doesn't have to break the bank! With the right accounting practices and tools, you can meet all necessary requirements without spending a fortune. Contact us to learn more about our DCAA-compliant bookkeeping services. Let's make compliance easy together! #compliance #DCAAcompliant

Looking for cost-effective ways to meet DCAA standards? You don't need expensive platforms to keep your accounting in check. A proper understanding of CAS and regular reconciliation practices can be your strongest allies. Empower your business with the right tools and guidance. Contact us today to learn more about affordable accounting solutions tailored for government contracts! #compliance #accounting

Managing your business finances can feel overwhelming. But it doesn't have to be. From creating a budget and separating your personal and business accounts to implementing the right accounting methods, small adjustments can lead to significant growth. #SMEs #AccountingTips #Compliance #BadvisoryZAcharteredaccountants P.S. Too strenuous and time-consuming? Don't hesitate to outsource this crucial function to stay compliant.

You’ve probably heard the famous quote “Measure a thousand times and cut once.” Accuracy is crucial, and there are merciless consequences when it's neglected. When we acquire new customers, we often find technical errors and inaccuracies. Our first step when working with new customers is to conduct a diagnostic review to assess the state of the books, identifying what's correct and incorrect. While some are worse than others, they are rarely in perfect shape. This highlights the alarming ambiguity among those who claim to be accounting professionals. Reports and data are being produced by these so-called professionals, yet the numbers remain unreliable and can’t be trusted. An accurate bookkeeper and a smart Tax Professional are powerful, working together to maintain accountability and precision. Read more here: https://lnkd.in/gRU8-br3

Stay in the know - INSIDE Public Accounting's Terms of Service have been updated! Review the essential changes to maintain compliance and secure your account. #Accounting #IndustryNews #TermsOfServiceUpdate #accounting #news #finance https://lnkd.in/eiE9S9qy

WARNING FIVE mistakes most accountants make. And which most business owners don’t know about. 👇 I’ll be honest I’m becoming increasingly annoyed and fed up with accountants. 😡 Last week I had to tell two new clients some bad news. o They both thought that they’d made a healthy profit last year. o They both believed that the business was in a financially stable position. o They both had Profit & Loss and Balance Sheet reports out of their XERO accounting system which told them so. BUT Those reports were all wrong. Badly wrong. In both cases….. ❌ Profit & Loss report was wrong Because not all the business costs had been included               And some of that were shown in the wrong place.               …which meant their businesses had made a loss and not the profit they thought. ❌ Balance Sheet Report was completely wrong Because the year-end journal hadn’t been input into the accounting system               ….which meant pretty much every number on the Balance Sheet report was wrong. ❌ The worst of it was that neither business owner had any idea that there was a problem.               Because they believed the accountant was the expert.               ….and whatever they said or prepared could be relied upon. What should you do TODAY to make sure you don’t have the same problem ? Check with your accountant that they’ve :- ✅ Input the year end journal from last year into the accounting system ✅ Input the wages journal every month ✅ Tailored the Profit & Loss report to reflect the business (& therefore the numbers are more likely to make sense to you) ✅ Made sure only business costs are shown in the Profit & Loss report – Dividends and Corporation Tax must not be included in the list of overheads ✅ Costs must recorded correctly in the Profit & Loss report – too often many costs aren’t coded to cost of sales meaning the gross profit is overstated and misleading. Do you think anything else should be added to this checklist ? Get a second opinion maybe???? Follow me on LinkedIn for more content on pricing, profit and creating a better business. ❤️ Share if this is helpful #smallbusiness #knowyournumbers

Are you confused with the term charts of account in accounting? Yes for, most business owners, especially small businesses, the chart of accounts might seem like a complex accounting term. But if you have an idea about COA, it is incredibly beneficial. Click to learn more: https://rb.gy/ttvsgc . . . #ICAEduSkills #IAmJobReady #LearnWithICA #ICAJobGuaranteeCourse #JobReadyCourses #blog #newblogpost #thursday

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐓𝐢𝐩𝐬 𝐓𝐮𝐞𝐬𝐝𝐚𝐲 If you’re a small business owner who feels overwhelmed by the myriad tasks involved in keeping the books, you’re not alone. Accounting takes a lot of time and effort, but it’s time and effort well spent because every successful business relies on solid accounting information to operate smoothly daily and realize long-term growth. On the flip side, poor accounting and failure to keep good financial and business records can be devastating to a company. Read more > https://rpb.li/u70mL #FinancialServices #TaxPreparation #SmallBusinessAccounting #CPAFirm #FinancialPlanning #MarylandCPA #BookkeepingServices #FinancialConsulting

Are you part of or running an accountancy firm? Do you know having the right IT Support is important to your business, check out our article on why https://bit.ly/4cFKuTj #ITSupport #ITServices #MSP #ManagedServices #Harrogate #Leeds #Accountancy #York