Top 7 Bookkeeping Mistakes Small Business Owners Make

As the 2011 tax season comes to an end, many small business owners may be learning the hard way that sloppy bookkeeping doesn’t pay- especially when you are dealing with the IRS.

For those looking to make amends in the current year, the below are seven of the most common bookkeeping mistakes to avoid:

 

 

1. Not seeking help where needed. Good bookkeeping is a skill, not just a task to get through. Many times it pays to hire an experienced bookkeeper to handle your books properly and efficiently; other cases may require the input of a qualified accountant. At the very least, if you choose to maintain your books alone then set yourself up with a good accounting software program, like QuickBooks. There are even some good, free open source options out there, such as GnuCash and TurboCash.

2. Being lax about recording information. Bookkeeping is best done on a regular basis. Once a month is the minimum suggested period you should take to update your financial records. Any


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Home Based Business Ideas

You do not need to be an expert in Internet marketing to make money online, and there is only one set of rules for success. Part of what online businesses exciting, so many people is that to earn money to implement a variety of different tasks, and you have the opportunity to work on projects that interest you much more than in the office. But first, you can try online to help you when you first list of companies to generate ideas for those who work with your skill set and interests.

Look beyond the realm of simple web design plans to start brainstorming. Some of the best online jobs are those you can make money by blogging as an interface between customers and companies offering their services and work to generate leads for other businesses. They could provide assistance for online social networking sites or mailing lists to help generate business contacts. You need some basic skills in networking, though. It may be helpful to first consider an online seminar or counseling session, you will see the best way to set up a website and improve road safety, take.

Some other ideas for internet businesses, you can work from home advertising include the products described. If you have a website you can on advertising, which helps companies in their marketing efforts.


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How to Protect Yourself from Cuts to Your Business Credit Card Limit

Over the past couple of years, the credit card industry seems bent on shaking up the credit markets so that it comes out in their favor. For small business owners with business credit cards, there has been virtual tidal wave of often unexpected changes- from cut credit lines to closed accounts- that seems to blindly strike irregardless of credit score and payment history.

 

If you use a business credit card extensively for short-term financing in your small business, then take heed to the following tips:

1. Expect the unexpected. These days, even if you have sterling credit and you’ve been using the same credit card for several years, you shouldn’t take your credit limit for granted. There are countless stories of business owners who watched their credit line virtually disappear without warning or provocation. Thus, pay attention to your account.

2. Be aware of what can trigger a change. There are several common factors that can result in a reduction of available credit: a sudden, significant change to your credit score, a large unusual purchase, “too much” activity , and “too little” activity .

3. Have a backu


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Five of the Best Data Recovery Services for Small Businesses

One of the lessons to take away from the devastating destruction that has literally engulfed Japan over the past couple of weeks is that one never knows when disaster will strike. As a small business owner, it is good business practice to be prepared to some extent for the worst, or else you risk loosing your business and all that you’ve invested into it.

For any small business that stores vital business data- from financial reports and ledgers to customer contact and history information, then a good data backup and recovery system is an essential part of a business disaster plan. Below are five of the best online data recovery services for small businesses that are particularly suited to those who have little IT expertise:

SugarSync- SugarSync is a versatile data backup and syncing service that allows you to store, share, and edit files across several plaforms, including the iPad, Blackberry, Android, and the iPhone. S


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Pop-up Stores and Kiosks: Why Less is More

Pop-up stores and kiosks are literally popping up in shopping centers throughout America. The companies involved in this kind of venture vary- ranging from new start-ups wanting to test their products in the market, to major brands looking to expand their presence in shopping malls during the holiday season using temporary locations.

Much of the pop-up craze among companies at both ends of the size spectrum has been fueled by the unusually high vacancy rates among retail centers. Desperate for income, the owners of these spaces have drastically cut their rental rates and increased their flexibility in regards to the other leasing terms and conditions.

In addition to the reduced costs involved, there are many other reasons to launch your own pop-up store:

  • Maximize seasonal sales. Pop-up stores are much more common around the holiday season, including small holidays, like Valentines’ Day or Halloween. Over last year’s Christmas season, Toys R Us opened 600 pop-up stores nation-wide. Once the season was over they packed up, saving themselves 9 months of rent.


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