Tag Archives: accounting

Going Beyond: Fixed Asset Management

fixed asset management pond

Here at Beyond Balanced Books, we aim to go further, or beyond, traditional bookkeeping. We actively look for ways to help our clients create the best outcome for their business. One way we do this is by providing fixed asset management services. What do fixed asset management services entail? And why should you be interested […]

How can paying taxes be less painful?

paying taxes

You just received your business tax return. You are distressed because you owe taxes. Every year tax time is stressful because you are scrambling to come up with the money for the taxes owed. You promised yourself this would not happen again, but you do not know how to change things. Let’s discuss the positive […]

Which parts of my business are profitable?

profitable buckets

If you have been in business for a while, at some point, you will need to make the transition from surviving to thriving. One important way to get there is to identify which parts of your business are profitable. Many conversations with our clients revolve around this topic. We are sharing some of the suggestions […]

What is Depreciation?

depreciation old shed

You often hear about depreciation in reference to your taxes. What exactly is it though? Is it important? How does it affect your business? In this article, we will discuss what depreciation is and why should you care about it. Our goal is to make this mysterious accounting term easier to understand. What is depreciation? […]

How should I pay myself as an owner?

How should I pay myself?

When you work as an employee, things are simple; receive a paycheck and file your taxes at the end of the year. When you own a business, compensation becomes more complicated. How should you pay yourself as an owner? Let’s discuss four important questions to help you decide.   What is your business type? Depending on […]

Should I use Amazon Business?

Should I use Amazon Business?

You make dozens of purchases from Amazon for your business. But tracking and organizing those purchases is often a challenge. After all, you can purchase almost anything from Amazon! You know there must be a better way to manage your Amazon purchases. Amazon offers a Business Edition. What is Amazon Business? Is it a better […]

What is a suspense account?

What is a suspense account

Have you ever noticed that some transactions in your books are being categorized to a suspense account? Suspense accounts can be confusing. You may have questions such as: What is the purpose of this account? When do you use it? Why does it have a balance?  We will discuss each of these questions one at […]

Which accounting terms do I need to know?

accounting terms

If you own a business, understanding accounting terms is not likely at the top of your list. It’s understandable; you may be juggling several responsibilities at once or simply do not have the time. Besides, if you pay an accountant or bookkeeper to manage your books, why do you need to know this stuff?  A […]

What are the challenges when you outsource your accounting?

It’s not possible to give every element of your construction business the time and attention it deserves. You’ve been trying to handle your finances on your own but it’s become overwhelming and you’re not even sure you’re doing everything right.  Wouldn’t you rather devote all your energy to things you excel at and actually enjoy?  […]