Cost matters. But what’s more important is what value you’re receiving in exchange for that cost whether it be a product or service. Here’s the thing. When you start with “how much,” focusing only on the dollar and cents, you remove the value behind the service and make interactions purely transactional. And bookkeeping shouldn’t be […]
Can this be deducted through my business? It’s a great question that business owners ask time and again. But…it doesn’t always have a black and white answer. Yes, you can deduct any reasonable current expense that helps you earn income—but, there’s criteria that can help make determining deductions a bit easier. So, to help you […]
We hear this question just about every day. Quite simply, for a record keeping system to be most useful, it should be simple to use, easy to understand, reliable, accurate, consistent and can provide you with the information on a timely basis. There are three types of bookkeeping systems; (1) paper, (2) computerized bookkeeping, […]
PBS: Good Morning, Priority Business Solutions, Gerry speaking, how may I be of service to you? Voice on other end: Do you do bookkeeping? Do you have an accountant? Do you do personal taxes, corporate taxes? PBS: Yes, we offer all those services. How may I help you? Voice: How much do […]
Should I pay myself a salary from my corporation or should I take dividends? This is a frequent question that we get asked by our corporate clients. There is always a correct answer, although the correct answer is more about the business owner’s personal financial circumstances, long-term financial goals, and beliefs rather than a pure […]
Sounds super easy – a prospective client approaches us for bookkeeping and accounting services. We do the dance of negotiation and presto we are working together. What could possibly go wrong? Priority Business Solutions is invited by the new client to be the Accountant in their QBO subscription taking over from a previous bookkeeper, the […]
Have you seen the advertisements for “debt consolidation”? You know the one, where the lady (man) has this “person” wearing a red tracksuit hanging off their back? As a business owner, your business could experience, this if you do not understand YOUR business’s Financial Statements (balance sheet and profit & loss report for starters). What […]
How often do we as business owners make a choice to save money or cut corners without looking into the future as to what the impact could be? As the bookkeeper/technician in our business, I’ve had the pleasure of coming in contact with clients who feel their record keeping is exemplary, after all, they are […]
Starting a new small business is hard work and stressful. Do you want to avoid the top five accounting mistakes that small business owners make? You can learn these just by reading this blog! Why learn these the hard and costly way by experiencing these yourself? 1: Not staying on top of receivables You […]
Ask your bookkeeper for a fixed price agreement. This requires your bookkeeper to look at your business, your problems and give you a customized annual quote specific to your business and its challenges. It will require your bookkeeper interview you prior to presenting the agreement. The quote should include consulting time so you have somewhere to go […]