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Recordkeeping 101

The Paper Chase

Floundering in Paper? Reasons this Happens & Survival Tips

By | Business 101, Recordkeeping 101 | No Comments

Going completely paperless for a business can be a little mind blowing and incredibly empowering at the same time – I know because I’ve been on that brain twisted journey for two years now. As of the first of June, our business is 95% paperless thanks to moving our office from commercial space with tons of extra space for storage to a much smaller office with a completely virtual team. There are a few things that I choose to move with the intention of deciding what to do with them after the move (I am publicly announcing that these items…

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How to Think About Payments That Will Help You Be Profitable

By | Accounting 101, Business 101, Cash Flow, CEO Mindset, Recordkeeping 101 | No Comments

While the king of payment has changed from paper to plastic, not having multiple options of receiving payment can be a certain death for businesses. I’ve seen new businesses open their arms wide for multiple payment options, and I’ve seen older businesses go kicking and screaming into this new world. If you want to survive and be a healthy and profitable business, you need to be aware of the tools available and develop your preferred payment processing plan. So let’s talk payment options. Death of the Checkbooks – (almost) We as a society haven’t totally killed off checks as a…

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5 Useful Ways to Avoid Drowning in the Bookkeeping

By | Accounting 101, Bookkeeping 101, Business 101, CEO Mindset, Outsourcing, Recordkeeping 101 | No Comments

This episode of Ask Connie is a question that comes up often when I talk to business owners: I need advice on implementing my bookkeeping and recordkeeping. How do I manage to really sit down and update records; close out the month; really make my accounting tool work for me; etc. I need ideas on how to make this process smoother, less painful, and get it done without tearing my hair out. This is probably the most common question, because the acts of bookkeeping – data entry and record keeping – are not super fun for most of us. The truth…

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Informative Behind the Scenes Look at Getting Tax Ready

By | Accounting 101, Bookkeeping 101, Recordkeeping 101, Taxes | No Comments

Prospective clients quickly figure out that what makes the ADI Team different stems from my experience working in public accounting as a staff accountant specializing in business and individual tax returns. During my seven years working in public accounting, I had the opportunity to work with three different firms with three different prep requirements. However, all of them had a similar need and purpose around why tax work papers were created. So in this first installment of “Ask Connie” I am going to share what tax ready work papers are, and why you should require your bookkeeper to provide them…

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All the Boring, Timely, and Informative Payroll Items you Need

By | Accounting 101, Bookkeeping 101, Recordkeeping 101 | No Comments

This was the hardest, most uninspired blog post I have written all year. And while this isn’t the most exciting or joyful post, I do know it will impact every business owner with employees, and especially those in Oregon. As 2016 comes knocking on our doors, so do a few payroll related items employers need to be aware of and more importantly, take action on. ADI Team PSA – 2016 Payroll Recommendations This year there are quite a few changes for employers that more action and review is needed. In fact ADI Accounting Team is making a few recommendations: If…

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Tool Recommendation: Xero – is it right for you?

By | Accounting 101, Bookkeeping 101, Recordkeeping 101 | No Comments

In today’s Vlog Connie gives you a quick look into Xero. We review the things we look at with our clients when deciding what tool is right for them and some of the reasons we like Xero. Video Summary When we talk to clients about choosing an accounting tool there are a few items we want them to consider: The look and feel of the tool – People have an immediate like or dislike when they access their tool; not despising it the minute you access it is important to your success in using the tool. Also, it’s important to…

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Bookkeeping, Manage the Cycle

By | Bookkeeping 101, Business 101, Cash Flow, CEO Mindset, Outsourcing, Recordkeeping 101 | No Comments

Today’s post will explore the business accounting cycle. Are you missing a step in a successful cycle for your business? Step 1: Identify, Collect, Analyze This step is all about the in and out of cash flow in your business. Take the time to identify what items need to be tracked. Easiest way to do this is by separating personal from business. Set-up separate bank accounts and dedicate one credit card for business. Consider how you will capture and collect that info. We have written many articles about keeping receipts and going paperless. Success in deciding which to choose is…

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IOLTA: Tracking is ALL about the Details

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Not every legal firm has IOLTA’s, but those that do know that proper accounting of their client trust accounts is essential in keeping their license and practice open. The problem is, when you built your practice you weren’t given any clear guidance or training on how to account for these funds. The following is the ADI Accounting Team recommendations for proper IOLTA accounting. The Basics As the managing partner of your firm, you have a lot on your plate that includes supervising your team of both legal and administrative team members not to mention, planning and handling growth. A few…

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Recordkeeping 101: The Power of Reconciliations, a Fairy Tale Turned Reality

By | Bookkeeping 101, Recordkeeping 101 | No Comments

What I am about to share with you is a little love story between a bookkeeper and the act of bank reconciliations. Since reconciling bank accounts can be more of a “Grimm’s fairy tale” for business owners, we want to share the actual magic that can happen: seeing the numbers become reality, something solid you can base business decisions upon. And we share why, as numbers people we fall a little bit in love, just like at the end of a fairy tale, every time we reconcile. Perhaps, at least, you will understand the importance and why bank reconciliations are…

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Accounting Tools: A Look Inside QBO (QuickBooks Online)

By | Accounting 101, Bookkeeping 101, Recordkeeping 101 | No Comments

Unable to display content. Adobe Flash is required. Today’s Vlog gives you a quick look into QuickBooks Online (QBO). Connie discusses a few of the things we look at with our clients when deciding what tool is right for them and some of the reasons we like QBO. Video Summary When we talk to clients about choosing an accounting tool there are a few items we want them to consider: The look and feel of the tool – People have an immediate like or dislike when they access their tool; not despising it the minute you access it is important…

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