Bank Building over Computer Keyboard with Deposit Sign extreme closeup. 3d Rendering.
When you order a product or service from a vendor, it may ask you to pay a portion of the price before the actual delivery. Catering to prepaid vendor deposits can easily be ignored by the business among various other bookkeeping tasks for the day. You are required to take extra precautions in recording these deposits if you want your books to be accurate. Because it is an upfront payment, it calls for serious attention. Losing sight of them may cause loss to the company because the products are received later and you would be able to account for the payments later on.

The prepaid deposit has no potential loss, but it can become a task at the year-end to record these expenses because they have to be catered into bookkeeping.

Why are Prepaid Vendor Deposits Required?

It is a common business practice to ask for upfront payments of certain products or services to minimize risk. The deposits are helping for some time depending on the situation and are either returned or added to the credit balance. You may be required to make all or partial deposits, depending on the deal. Vendors may ask you to make prepaid payments on large orders or if they do not have a history of doing business with you in the past. In either case, you are required to make the payment in order for the products to be delivered.

The amount that you pay in prepaid vendor deposits is accounted for as assets in your books because it’s your money and someone else is just holding it for you. An account titled ‘deposits held by others’ is included in your current assets to cater for such expenses. You name it as “deposits held by others” so that you do not confuse them with your other accounts such as prepayments on orders, liabilities, and retainers.

How to Account for Prepaid Vendor Deposits

Typically, you send a check to the vendor just like making any other deposit. However, the only difference in this transaction is that the check is an asset rather than an expense. Therefore, it is posted as ‘vendor deposits’ in your bookkeeping. Deposits held by others will be debited by a given amount and your bank account will be credited by the same amount. Anyone can require a deposit, whether it is a utility company or a landlord. Making these entries on your financials will ensure that everything stays updated.

Returning the Prepaid Vendor Deposits

Vendors are required to return your deposits after a fixed period of time and the most frequent way of doing that is through a check. However, if you are inclined to conduct further business with the vendor, they may adjust it to your next bill.

When the check is received, you just deposit it into your bank account and, to balance out the equation, make an opposite entry in your books as before. Your bank account will be debited while the deposits account will be credited. In case the vendor does not pay you back and caters for the deposit in your next bill, you would have to convert this asset into an expense in your books. The bills account will be debited while the agreed amount will credit prepaid vendor deposits held by vendors.

In a scenario which the applied deposit to the next bill is less than the total bill, you would have to write an open balance check, which is deposited to the appropriate expense rather than the deposits held by others.

Running a business requires you to be flexible in your approach and follow the standard norms of in your industry because everyone else is doing that. Eventually, you will have to work with them and maintaining good relations requires you to view such prepaid vendor deposits as an investment in building good relations rather than a burden on your finances.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Level Up concept as a progress symbol for business success or personal growth aspiration as a cliff and a tree shaped as an arrow with 3D illustration elements.

Managing Business Finances

Business finance is a very crucial term in corporate finance and accounting that encompasses a wide range of disciplines and business activities regarding management of money and other valuable financial assets. It teaches us about effective management and utilization of financial resources, investing strategies, accounting methodologies, and effective debt management. In short, it defines the fate of the business and long-term growth and profitability of any company.

Significance

In order to survive in an extremely competitive environment, businesses need to maintain their financial resources effectively or else pack their bags and go home. In the demanding era we live in, business finances works just like oxygen for survival, stability, strength, consistency, and growth. In short, money keeps your business running and your employees working to attain business goals and objectives.

However, the influx of money needs to be assured at the hour of need or your business may face a financial crisis which may eventually lead to overall business failure. Some of the most common ways in which a business can be financed or money can be raised include business loans, private loans (family or friends), mortgage loans, crowdfunding, etc.

Critical To Business Success

Entrepreneurs or business adventurists around the globe face a lot of difficulties in generating business finances for their unique business ideas. But, even those who manage to generate desired finances often strive to maintain or manage their money—perhaps due to the lack of financial knowledge or management of money related skills. They may have scarce resources but hiring a professional accountant or bookkeeper seems to be a smart choice. This allows them to concentrate on core affairs of the business while their bookkeepers take care of the rest (money related matters). Looking at the sensitivity of the matter, it is indispensable in managing business finances effectively for maintaining a sustainable competitive advantage.

5 Crucial tips to Keep your Business Finances In Order

Get Yourself Ready For the Tough Job Ahead

In order to survive in a volatile economy, you need to come up with new and effective ways to get things right—the very first time. No one is a born genius, it’s your motivation, inspiration and result-oriented approach that encourages you to learn the art of the game before taking on challenges head-on. For managing the finances of a business, you need to educate yourself and get ready for the tough accounting job ahead, as financial recording is no easy feat. The entire fate of a company is dependent on financial recording and analysis—the better they are, the higher the results. This makes it clear that the management and bookkeeping of business finances requires accounting knowledge, skills and, hence, a complete accounting know-how for keeping finances in order and perfectly streamlined.

Keep Your Personal and Private Finances Separate

For developing more command and control over your personal and business finances, you need to deal with them separately in order to avoid confusion. The outflow of cash has to be managed well for keeping a proper track of your business transactions. This will not only help where your money is going but also helps when submitting tax returns at the end of the term. Small businesses often find themselves strangled in sorting between business and private finances as they lack awareness, accounting knowledge, experience, and expertise in dealing with money related issues. By sorting this out, you will have the exact status of your money.

Choose a Suitable Accounting Software

All salutations to superior accounting tools and techniques that have made things a lot easier than traditional and manual ways of recording business transactions. If you haven’t yet moved to cloud technology for maintaining a real-time track of your money and resources, we suggest you do it right away. Today, you have a myriad of options to choose from, however, integrating the right accounting software or technology is crucial.

Hire a Professional Bookkeeper

You may have a basic level of accounting knowledge and experience in keeping transaction records which may not actually be enough for your business. In order to effectively manage each and every thing related to your business finances, you must consider hiring a qualified and reputable bookkeeper. This will not only help you solve financial discrepancies but will also help you save a lot of money in the end.

Make a Budgeting Plan

By creating a budgeting plan, you will get things aligned and more organized than ever. Business budgeting is a necessary evil, which means that no matter how far you run away from it, you still have to create it. This allows you to know the business expenses and see whether they need to be cut if they are exceeding the limit or need to be financed with more money.

Conclusion

It is true that a lot of business owners do not keep records of their business finances or, even if they do, they are most often in a disorganized or cluttered form. In order to establish 100% command and control over your business, you need to manage your finances and cash flow carefully. It is better to hire a qualified bookkeeper for achieving intended outcomes and pave your way to business success.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

risk management concept
These days, everyone is excited to be an entrepreneur and the thought of starting one’s own business sounds more attractive than ever. It is a fact that risks are abundant in the world of entrepreneurship, the main reason why many people don’t work on their ideas. However, if one understands these risks properly, a start-up strategy can become pretty successful.

Make an in-depth analysis of current businesses that are new in the market. There are five main risks in the beginning of any kind of business. Identifying these early and making up a strategy to handle them can prove to be highly beneficial for your start-up.

Product Risk

One of the primary decisions you will make in your start-up venture is deciding what you want to sell. Which is, of course, the easy part. However, in order to sell your product, you will have to describe the need for it. This can be done by showcasing the problems that your product solves or explaining the reasons why people should purchase your product. If you’re unable to attract attention to your product, it is probable that your business might in disaster.

Market Risk

It is essential for any business to know about the market it is going to tap into. This ranges from the demands of the customers to whatever is offered by your business competitors. A thorough analysis of this risk is considered crucial for entrepreneurial success. Once the entire statistics are properly researched and all problems are properly identified, you can build your strategy. Getting into the market at the right time ensures the success of your idea.

Financial Risk

Financing an idea may be one of the biggest reasons why people hold back on their start-up. However, these days, there are many ways to raise money for your project. Tools like Indiegogo and Kickstarter are great sources of crowdfunding. Moreover, budding entrepreneurs also have the option of getting investments from other sources such as family, friends, angel investors and VCs.  

However, in order to be funded, any business must set its goals in a clear and comprehensive way. Setting up a proper strategy not only attracts the trust of investors but also helps your company get momentum in the direction that will lead it to major milestones. However, without proper evaluation and effort, a business plan might not be able to gain the confidence of leading investors. This causes risks of financial failure.

Team Risk

What one person can’t achieve, a team surely can. This is the reason why it is extremely important to have a group of people and a mentor or confidante to aid in preparation of all the challenges involved. Your team can help you increase the reach of your product which will assist in your business’s start-up growth.

As an entrepreneur, you are a leader and you need to have the best team on board. Invite people in who you can trust because the people in your business will be the ones working to propel your company to success.

Execution Risk

Sometimes, start-up founders get into the tiniest of details which causes them to be distracted from the important task of planning and strategy building. At other times, they are much more focused on the high levels so they ignore the small things which hampers their company’s productivity and/or efficiency.

There needs to be a proper focus on the entire spectrum for proper business execution as it ensures success in the long run. Once you’ve understood the risks in execution, you can find a proper blend of the attention you give to the specifics and to the bigger tasks.

Conclusion

In the end, there are some risks that you have control of and others depend upon your long-term and short-term thoughtfulness. Whatever it may be, properly evaluating each risk and participating in business execution can help your start-up avoid these risks. Making the changes that you deem necessary can surely help in steering your business towards success.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Man using credit card payment machine. Mobile payment with contactless smart phone application
POS software solutions are critical tools that modern-day retail businesses use for many reasons. Experts around the world agree that this software helps businesses excel and outshine by providing it with the means to become efficient, accurate, swift and smooth in their business’s dynamics. There are thousands of varieties of this software by various vendors, but the general purpose is all the same: better management, excellent administration, and continuous monitoring. POS stands for Point-Of-Sale. This software keeps the company’s records straight. All business that are actively selling goods or services to clients or patrons use it to keep up with their business activities, among many other uses.

POS software solutions cover a broad range of fields that we shall talk about momentarily, but let’s dwell on what the software is all about. Many retail businesses, such as supermarkets with huge warehouses, demand IT systems that help it manage all of this sonic-movement. Phenomenal efforts are needed to make all of this work in a streamlined manner. Certain procedures and methods are used in which technology comes to the aid of businesses. POS software is more than just a tool; it’s a complete management system that is programmed to carry out specific tasks that are crucial for business.

Usually, all POS software solutions use the internet. Its capacity to allow remote connections into the program can help business owners directly witness what’s happening regarding cash, inventory, stocks, employees, accounts, etc. The web uses this technology for online retail stores which are supported by sophisticated back-end applications that are highly complex tools. POS software can be cloud-based or on a device which is used to store information and critically needed data. It is able to calculate, store, tag and sell every transaction which is why it’s so successful. It does more than that, though, if programmed towards specific tasks. POS software solutions can even accumulate total taxes of the day or point out the frequency of sale of items and drive stock data.

Here are some features of the POS software solutions that help a business carry out day to day functions for various purposes for smoother operations of the business.

Point of Sale

Point of sale is the area in superstores where people rush to check out with their products. These points (otherwise known as check out lines) are equipped with this management software and makes the job of employees much easier. They don’t have to check codes, prices, or tags when the cashier is enhanced with POS software solutions. Every transaction is recorded which is tied to the system and the appropriate steps taken to measure the stock and inventory are its specialties.

Accounts Receivable

POS can calculate and systematically notify a business of the amount it has received or is going to receive. It is the summation of all payments that are to come in. This helps finance and accounts departments with their assigned duties as well.

Accounts Payable

Accounts payable is the total amount that the business has run up or the total amount of cash that the business has to pay. This feature of POS software solutions helps businesses understand what the expenses look like.

Inventory Control

Inventory control is a fundamental feature that has businesses scrambling for implementation of POS software. The ease in which inventory is monitored, controlled and handled by the information that the software presents is so valuable. It is also a highly critical aspect of the business,and this management software helps simplify things.

Shop Management

POS Software is ideal for managing a shop. This solution is great for shops with inventory needs or total sales of the day. It can be programmed for this and also many other critical activities as this type of POS software solution is integrated into the business.

Auto P.O. Creation

The automatic purchase order creation facility is used for generating wholesale and retail invoices without the need to check items or get into details of summing up or other time-consuming tasks. This automatic feature makes it swift, effortless, and simple to create an automatic purchase order.

Customer Tracking and Follow up

POS software helps maintain records such as customer information like contacts, addresses, items of interest, etc. It can also generate an email to be sent as a follow-up.

Automatic Price Updates

POS Software can also manage and regulate price updates with ease and simplicity. The POS software solutions can be different for all business, but this is also a solution that many businesses require.

Payroll

For employees, this payroll solution is regarded as the most convenient solution that a business can adopt. The software can whip up accounts of employees and facilitate their payroll generation as well.

Bar Code Scanning

Bar code scanning is used to recognize and identify the item or articles that belong to the business for selling purposes. POS Software can ease this process.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Engineer hand using tablet with machine real time monitoring system software. Automation robot arm machine in smart factory automotive industrial Industry 4th iot , digital manufacturing operation.
Determining per unit cost may be taken as a very common aspect in the manufacturing industry, but it is no surprise that it has to be handled professionally. No matter what one may argue, calculating work in process requires utmost brilliance and perfection in technical accounting knowledge. Obviously, determining raw material, labor and overhead costs incurred in manufacturing a certain good is no easy feat. You have to carefully examine and evaluate the costs of each and every aspect of producing a finished good at various stages of the production process before you can determine the total cost incurred on producing a good or a commodity. The term WIP (Work In Process) is usually used in production and supply chain management which bears an immense importance in the manufacturing and distribution industry.

What Is Work in Process?

According to Investopedia, “it is the sum of all costs put into the production process to manufacture products that are partially completed”. A careful analysis has to be made at various stages of the production process in order to determine all the costs incurred on raw material, labor, and overhead costs. For determining the exact unit cost, you must have a clear picture of all the costs incurred from the raw material to the finished good.  It is important that your bookkeeping shows all of the costs in order to come up with your final cost.

As far as the calculations are concerned, the formula for calculating work in process is:

Work in process = (operating inventory goods in process + raw material used during the period + direct labor during the period + factory overhead for period) – ending inventory

WIP–In Light Of Automation and Technology

Fortunately, we have opened our eyes in such an era of modern accounting and bookkeeping where processes have become easier than before through superior automation and technology. Now, we have access to advanced accounting software and solutions which have made calculation easier, quicker, and more accurate. This indicates that calculating work in process is now considered a piece of cake for most individuals who have command and control on these contemporary accounting and manufacturing software. Plus, we now also have access to accounting and bookkeeping professionals who make the process easier and help reduce manufacturing costs at various stages of the production process.

Benefits of Reducing Manufacturing Work in Process

There are numerous benefits associated with reducing manufacturing work in process costs. The top benefits include better cash flows, higher liquidity, and diminished business risks. However, a brilliant execution strategy is required in order to make things go in your favor. Since the ultimate aim of every manufacturing establishment is to reduce raw material, labor and overhead costs in each unit produced, you must integrate innovative procedures and techniques to eradicate manufacturing bottlenecks. Moreover, calculating work in process may seem hard at first, but once you commence to sort things out piece by piece (costs), everything becomes relatively easier to handle.

Strategic Forecasting and Planning and the Need for Calculating Work in Process

Undoubtedly, strategic forecasting and planning is critical to business success. The more you get yourself involved in reducing per unit costs, the more you will save at the end of the day. For determining how many units should be produced, raw material costs, labor costs, and overhead costs, you must have a clear picture in mind about your production requirements and specifications. Strategic variety usually involves realistic vision, mission and out of the box thinking for making future projections related to manufacturing and production.

Moreover, strategic planning and analyses will define where your company is heading and what the company aims to achieve in both short and long-term time periods. For attaining ideal results, machines can be added or integrated into the manufacturing process and the workforce can be educated with newer and advanced techniques for optimal utilization of resources. Calculating work in process must be handled with the utmost care because it directly influences your profitability index.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Choosing a point-of-sale (POS) system seems like an easy task, but here are some things to consider to pick the best POS system for your business.
Female Owner Of Coffee Shop Serving Customer on her POS System The days of the analog cash register are over. In the Digital Age, many tools exist to help streamline your life and your POS system should be one of them. Many people don’t know what to look for when shopping for the right system for their business, much less the different options they have. Let’s talk about what steps you should take to ensure you choose the best POS system for your retail store.
 
Think About What You Want Out of Your POS System.
Are you opening up a retail store or thinking about upgrading your old cash register? Before purchasing your new POS system, think about all of the aspects of your business. Put yourself on the customer side, the employee side, and the management side to identify what processes create a successful transaction and what tools you need to fulfill that exchange. Think about your inventory, checkout process, customer profiles, and bookkeeping. If upgrading, make a list of features that are absent in your current POS or what issues you have had with it. The right POS system will make running your business more efficient, saving you time and money.
 
POS and Customer Service
You want your customers to get as much out of your POS system as you do. After all, your customers keep you open. Your POS should run seamlessly throughout the busiest of days, providing quick and efficient service. Some can even save credit card transactions when the internet fails, then run the card when connection is back up. POS systems can save customer profiles, allowing shoppers to look up previous purchases, saving the employees from having to look up specific items. POS systems can also be integrated with inventory lists, allowing employees to check items in stock from the storefront instead of having to dig through the back stock. Also consider security options for your system, ensuring your customer information is safe from costly data breaches.
 
POS and Business
Choosing and tailoring your POS system to fit your customer service needs are one thing, but don’t forget about utilizing it to boost your business. Choose a POS system that can analyze sales and create the reports your business can use to ensure you are getting the most return on your investment. Your POS system can save you money by identifying items to keep stocked and which ones can be replaced. Consider the accessibility of  your POS system. Some systems are cloud-based, so you can access them from home, another retail location, or even vacation as long as you are connected to the internet. Are you the only one going to be creating reports or can these functions easily be produced by someone with minimal knowledge of the software? Do you plan on expanding at any time in the future and want a system that can handle the increased transaction volume? Do you want your POS system to integrate seamlessly with your accounting or bookkeeping software? Do you already have hardware that you want your new software to be compatible with? These are all things you should consider when researching a new POS system.
 
Compare POS systems and Create a Budget
Now that you have considered all the functions you can use your POS system for, do your research. Really look at all the components needed and fees required. Some systems are more costly upfront, but have more integrated features. Others have monthly fees, but charge for each individual tool. Ask around similar businesses or check online forums. Call the POS system’s company and see if you can trial the software. These companies want you to use their POS systems and are usually willing to allow you to trial their systems and offer support for setting up and streamlining use.
 
Purchase Your POS System
Now that you have thought about your needs and desires from your POS system and have created a budget, go forth and purchase yours! Enjoy how it simplifies your life and supports your business. Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.
stress-2 You work all day at whatever it is you are good at but when do you find the time to record the businesses activity in the books and invoice your clients. If you don’t do it every day it becomes difficult to remember what you bought, for what project, and why. When will you do it? In the morning you are checking your calendar, catching up on critical information, and coordinating your staff – no time for bookkeeping. Mid-day you are in the thick of it, keeping your clients happy, developing processes that make your business more efficient, effective, and profitable – it doesn’t really fit here. Maybe at night when the day is done? Your bookkeeping can be a kind of daily summary of what happened and if you take the time to analyze your numbers it can be a good indicator of what is yet to come. End of day is really the best alternative but that can leave you with bookkeeping burnout. Face it, most entrepreneurs days don’t end until night time. By then you are tired and bookkeeping becomes the thing you have to do, not the thing you want to do. As a result, you do just enough to get by and don’t really spend time with your numbers. Let’s be honest, after a hard day’s work all of the numbers start to blur together anyway…. Wouldn’t it be nice if you had an expert team that managed your bookkeeping tasks for you? They could make sure the work was done, only ask you about things they can’t decipher, and provide you with intuitive reports. Would that help you to really dive into the numbers and use them to help you understand your performance, cash flow, and to make informed decisions? Could your finances become a light that shines the way to success and helps you see approaching pitfalls? You might even be empowered to think up new ways to get paid earlier or easier, or reduce costs and inefficiencies – after all, you will have some more time on your hands since someone else is doing the grunt work. Someone smart – an accountant who is trained in bookkeeping and enjoys it (yes, those people exist). Complete Controller – a bunch of people who REALLY LIKE bookkeeping! About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTM ProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.  
pexels-photo-159991 Small businesses are the lifeblood of the American economy. As accountants, we see the struggle small business owners go through as they build their trade or craft. They are relying on support from their community and they can give you some perks that big box stores can’t. Here are a few great reasons why shopping small business is smart and fun:  
  • Diversity and Creativity – Small and local shops tend to capture the local vibe or their own unique messaging when sourcing products for sale. That means their products will be different and less accessible through mainstream channels – that artistic and creative touch adds value.
  • Craftsmanship – Manufacturing at the small business level tends toward higher quality and greater attention to detail. The products manufactured by local craftsman, from screen printers to furniture makers, will be produced in smaller batches and the quality control is usually performed by the business owner so you know you are getting their very best.
  • Accountability – Small business owners often live in the community they serve. As such, they are motivated to provide an excellent level of service and they are nearby in case something goes awry. Tradesmen within your community will tend to be available when bigger businesses are closed and will usually give you their cell phone in case of emergencies – now that’s service!
  Put your money where your heart is and shop your local small businesses this holiday season. Celebrate our brave and clever small businesses by putting your hard earned money back into your community – it’s a win, win! About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTM ProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

As an expert in the bookkeeping field and the mom of a family with three kids, I am very familiar with making dollars stretch as far as possible. It’s always fun to find a good deal but disappointing if the quality isn’t there – in these unlikely experiences, I was pleasantly surprised!

One of the things that my husband loves to buy used is running shoes! I never would have thought of that because it’s always been my assumption that the best performance comes early in the shoes life. That may well be true but ‘used’ doesn’t have to mean ‘heavily used’. You see, when consumers return running shoes to the store after they have been worn even so much as one time, they may not be sold as new. So, if you search online there are plenty of very nice – and expensive – lightly used shoes to buy at super steep discount.

Prior to my recent relocation to a new state, I always purchased my appliances new from Sears or Best Buy. When I moved I found myself in a very new, very empty home with no refrigerator, washer, or dryer. To purchase new and wait for delivery would take several days. Instead I searched Craigslist to see what my neighbors were selling and I found several businesses that sell used appliances and even warrantee them. They got their start as appliance delivery and installation contractors. Since delivery also means hauling away the old appliances, they had plenty on hand for parts and began to build an inventory. Since my town has a pretty significant vacation property population, there were quite a few lightly used appliances in their inventory to choose from. One phone call had them delivering high efficiency front load washer and dryer and a stainless steel refrigerator that same day for $500 cash – and they hooked it up too. The ‘warrantee’ is for 90-days but that is more than enough time to discover any deal breaker characteristics.

Spend wisely and enjoy!