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How to Make Your Accounting Easier as a Business Owner?



Accounting remains one of the top concerns for business owners over the years! At times, they have less knowledge about the process or else many of them simply ignore the importance. Keeping accounting hygiene from the start helps the business maintain the right profits. Small businesses need accurate bookkeeping & accounting operations to get the right picture of the scenario. Cloud accounting or cloud computing is the latest trend in the market being adopted by all kinds of businesses to gain the edge.

Accounting tools are not only for big enterprises and can be used by all! The traditional methods of accounting are outdated now and businesses rely on automated accounting tools to balance the book. Hiring a professional for the job always helps, but migration to a new technology keeps the business relevant. Look for an app that can track the business’ financial transactions, which includes assets, sales, liabilities, & expenses. Maintain the books rightly so that you get the right reports at the end of the year. This guest post has proven ideas & tips to assist business owners with accounting tips.

Table of Contents

1. Steps to Maintain Accounts and Books Accurately

  • Accurate Analysis of Financial Transactions
  • Adjustment of trial balance
  • Preparation & Review of Correct Reports
  • Generating the Right Financial Statements
  • Closing Statement Correctly

2. Best Accounting Tips for Business Owners to Keep the Books Balanced

  • Closely Watch the Receivables
  • Keep a Keen Watch on the Cash Flow
  • Log onto the Expense Receipt Rightly
  • Record the Accurate Cash Expenses
  • Keeping the Owner’s & Businesses Accounts Distinct

3. Final Thoughts!

Steps to Maintain Accounts and Books Accurately


Accounting for small businesses means keeping clean records of all the financial transactions within the system. It also includes accurate bookkeeping to keep a complete record of income & expenses. The maintenance of books in the right manner helps businesses to make the right decisions on business expansion. Small businesses need to manage the money effectively at the initial stages besides keeping cognizant of the business’s current performance. Let us now look at some of the major steps that can assist businesses inaccurate bookkeeping.

Accurate Analysis of Financial Transactions

The accounting process starts with a simple analysis of the financial transactions. It needs to be accurate and the right reports ensure taking of future business decisions. The maintenance of books is always the top concern for businesses and it includes entering details about the business entity in the system. Hire accounting professionals that can assist business owners in preparing the source documents. It becomes the document that serves as the foundation for record-keeping.

Adjustment of trial balance

A trial balance is a thing needed to check the total debits equaling total credits. The account reports are collected or extracted from the ledger book and arranged rightfully in the report. The aim is to equal the balances of debit & credit columns in the account book. Before adjusting the trial balance, it is vital to adjust the entries for updating the financial account. It becomes important for the correct calculation of the depreciating amount. This is also the vital procedure for getting the right type of financial statement.


Preparation & Review of Correct Reports

Reporting is one of the vital tasks for businesses that need to be done accurately. It helps in proper decision-making and business owners rely hugely on it to check the growth. The use of proper tools along with professional accountants can make the process of report generation simple. Also, review the reports correctly so that the decisions can be made timely.

Generating the Right Financial Statements

The financial report becomes the ideal thing for the business to take the right steps for business growth. Also, it is vital to comply with the rules of the land for tax regulation & filings. The financial statements normally include the income statement, details related to changes in the equity, balance sheet, details on the cash flow. The use of tools is also an ideal way to generate business accounting reports.

Closing Statement Correctly


The final step is to prepare the post-closing trial balance for calculating the equal numbers of debit & credit amounts at the end of closing entries. The preparation of the next accounting cycle needs to be made by measuring the temporary accounts periodically that will include the income & expenses easily. It also includes the preparation of post-trial balance accounts, also known as permanent accounts. The businesses can take the help of professional tools to prepare the closing statement.

Best Accounting Tips for Business Owners to Keep the Books Balanced

Accounting is important for all businesses, but at times it can go into the backburner. Managing all the accounting operations on your own can become hectic work for small business entrepreneurs and thus selecting an appropriate tool or process will be the best decision. The maintenance of books helps to forecast the financial months & also alert about the financial gaps. The accounting insight of accountants helps to save the business when things get tough.

Here are best tips for business owners to keep books in a balanced position –

Closely Watch the Receivables


The management of receivables is a fun task and the receivables can be recorded with the issuing of invoices. As the customers pay the business, the amount needs to be applied to the invoice & marked paid. It is important to check the listing to see if the customer is having an outstanding balance. The customer deposits can be left to reconcile if there is less time for businesses to manage the track of receivables. Adapt to the methods & tools to keep a watch on receivables.

Keep a Keen Watch on the Cash Flow

Cash flow is one of the vital aspects for businesses and it is important to keep the business’s cash flow on track. Prepare the correct cash flow statements as the businesses perform periodic reviews. The right type of cash flow statement is providing a broader understanding of the cash movement within the system. This kind of statement is important in monitoring the income and thus helps to visualize the payment cycles & expenses. Get the right cash flow reports to have the knowledge for anticipated expenses & accordingly allocate the income.

Log onto the Expense Receipt Rightly

Businesses make the common mistake of not saving the expense reports and it results in a wide range of cash flow troubles. The owners should be familiar with the accounting problems that come with poor record-keeping. Saving the receipt of every purchase is one way of solving the problem.


Record the Accurate Cash Expenses

For businesses & entrepreneurs, it is important to keep track of all businesses. It is the best way to subtract the costs from the total income at the time of tax calculation. Also, it provides the opportunity to businesses for keeping a check on extra expenses within the business.

Keeping the Owner’s & Businesses Accounts Distinct

Many of the small business owners are using their personal funds to run the business at the initial stages. But, it is advisable to keep a separate business account for proper management of funds. It also helps to judge the records of the business with business transactions within the system.

Final Thoughts!


Business owners can make accounting simple by complying with the basics. Make sure you have a proper understanding of the accounting process and also pick the right accountants for help. Look for the latest tools or technology to help the business cope with the demands. Maintain the books accurately by taking the help of a reputed tool. Keeping the right type of accounting records is also assisting businesses to make some prompt decisions. Stay upbeat with the latest accounting trends so that you’re upbeat with the challenges.

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Apple Plans To Double Its Digital Advertising Business Workforce.



The move raises industry concerns following the launch of privacy guidelines which make it impossible to create ads that are tailored to iPhone users

Apple plans to more than double its workforce within its rapidly growing digital advertising business in less than 18 months after it enacted radical privacy rules that crippled its larger competitors in the lucrative business.

The iPhone maker has about 250 employees per LinkedIn advertising platforms team. On the Apple careers website, it’s looking to fill additional 216 positions, which is quadruple the 56 positions that it had hired in the latter half of 2020. Apple denied the claims. However, it declined to provide any further details.

The digital advertising industry has been apprehensive over Apple’s plans for advertising since the company introduced privacy regulations this year, which have shaken up the market for digital ads worth $400 billion and made it more challenging to customize ads for Apple’s one billion+ iusers Phone .


Since the new policy was implemented, Facebook parent Meta, Snap and Twitter have lost billions of dollars in revenue and a significant amount in market valuations, even though other contributory factors exist.

“It was almost like a global panic,” Jade Arenstein, global service director at Incubate, a South African-based marketing performance firm, was quoted as saying about the impact of Apple’s recent changes.

The once-flourishing advertising business is “incredibly fast-growing”, according to an ad for jobs. The business has grown from a mere few hundred million dollars in revenue in the last quarter of 2010 to an estimated $5bn in the current year, according to research firm Evercore ISI, which expects Apple to be able to grow its $30 billion advertising revenue within four years.

Compared with Google and Facebook and their 2021 revenue from advertising was $115bn and $209bn. For instance, Apple’s business in advertising is small. The digital advertising industry is worried that it will increase due to establishing rules that critics and rivals believe provide it with an advantage.

“Building new ad systems to effectively compete with incumbents with tens of thousands of employees and 10 to 20 years of maturity would normally be an impossible task,” said Alex Austin, chief executive of the ad tech group Branch. “Unless,” he added, “you were somehow able to disadvantage those competitors on your platform.”


Apple has been for a long time the most prominent Big Tech outlier for not taking part in “surveillance capitalism” — the practice of offering customers free services but making money on their data through targeting ads on them.

“We could make a tonne of money if we monetized our customers — if our customers were our product,” chief executive Tim Cook said in 2018. “We’ve elected not to do that.”

However, with Apple having twice the number of developers who can purchase ads on the App Store over the last two years and preparing plans to expand, the critics are seeing Cook taking a significant turn.

David Steinberg, chief executive of Zeta Global, a marketing technology firm, said Apple had been “Machiavellian” and “brilliant” in implementing privacy regulations that required rivals to revamp their advertising infrastructure while creating an opening to fill the gap.

“They could build out (their advertising business) dramatically (and) the ‘air cover’ is they are protecting the consumer’s privacy,” said the researcher. Added.


Apple did not comment on its long-term plans. The job advertisements tell prospective employees that the company’s goals are nothing more than “redefining advertising” for a “privacy-centric” world.

The 216 positions Apple wants to fill are managers and designers of products, in addition to data engineers and sales experts.

An advertisement for an engineer, released on August 24, is a reference to “Apple’s most confidential and strategic plans” and explains how the company plans to “build the most secure technology-driven, technologically sophisticated . . . Supply (Marketplace) Platform and Demand Side Platform”.

These are the core aspects of an ad tech company that allows advertisers to purchase and sell ads across multiple exchanges, possibly advertising in mobile applications downloaded through the App Store. Apple may be able to consider apps for mobile “first-party” data because all activities take place on the iPhone, which is in line with its privacy regulations which ban third-party apps’ contentful monitoring of users.

The positions are predominantly located in the US. However, there are at least 27 roles in Europe and 12 in China and 12 in India and four located in Japan, as well as two positions in Singapore.


“That’s a giant team — that’s bigger than most small companies,” Arenstein said. Arenstein. “Wherever there is smoke, there is fire, and that’s some smoke.”

Apple has never been averse to advertising by itself. Its CEO Steve Jobs even tried to create an in-app advertising business in 2010, so that iPhone apps would remain completely free. Cook is against how personal information is purchased and traded by opaque third parties without iPhone users’ consent.

Yet, Apple set the rules regarding how advertisements should function and later expanding into this very subject is seen by many as unsatisfactory.

At the moment, it’s more secure — in terms of the economy of surveillance using an Apple phone over one that is a Google phone, as Google has designed its products to support surveillance, while Apple isn’t, in its essence, an advertising firm,” said Claire Atkin co-founder at Check My Ads, a surveillance agency. “But if Apple suddenly delves into that realm, they won’t have a that competitive advantage.”

Apple might be putting its image at risk if regulators and consumers oppose its privacy claims which have been a significant part of the recent iPhone campaigns. If the argument prevails, Apple would have an unobstructed runway.


Margo Kahnrose, Chief Marketing Officer at Skai, an omnichannel advertising platform, has said that she believes it “makes absolute logical sense” for Apple to develop its advertising network, following the lead of Google, Facebook and Amazon.

Adtech’s power has, she explained, for a long time been flowing from the decentralized “open web” to “walled gardens” run by one company that can control how ads are purchased and served, as well as how they are measured and tracked.

“The world has been unnerved by Apple’s ambitions for a long time,” she said. “There are a few companies that have vast quantities of power, and Apple is the one that is sleeping.

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Six Ways To Maintain A Growth Mindset While Running A Business.



To be successful as an entrepreneur, starting your business with the appropriate mentality is essential. A growth-oriented mindset implies always striving to improve the product or service you offer or the ability to communicate with people in your industry. Many companies start as small, but they expand in time to become massive businesses that impact people’s lives in the millions. However, this kind of growth isn’t a quick process – it requires a lot of time and effort, and it’s all with constant improvement.

Six Ways to Maintain a Growth Mindset While Running a Business.

1.) Change your outlook

If you’re in the business of managing, it’s easy to become caught up in the day-to-day and forget about the bigger perspective. However, if you’d like your business to flourish, keeping an attitude of growth is essential. Being able to open your mind to be fully engaged in the things you believe are the best for you is crucial.

2) Are you in your comfort zone?

One of the difficulties of managing a business is it’s easy to get into a routine. Once you’ve discovered a method that works, it might be tempting to stick to it. However, staying with the same formula with different outcomes isn’t intelligent. If you’re looking for your business to expand, make sure you alter things with slight adjustments to ensure that your business feels fresh and exciting.

3.) Be prepared to take the risk

Nobody said creating and running a company was easy, regardless of whether you’re putting together an exercise calendar or an entirely new line of clothing. It’s one of the most challenging tasks you’ll ever have to do. If you want to succeed, you must have a mindset of improvement. Create a staff around you. Find people who can assist your company in its growth. It’s not necessary to shoulder all the responsibility for your company. After all. Make sure you take sensible risks. There is undoubtedly a danger involved in taking risks, but when you take calculated risks, you reap a calculated reward. The most successful entrepreneurs realize that sometimes it takes a long time to bring an idea to fruition. Therefore, they remain in the game and push forward.


4.) Connect with others who are adamant about your abilities

One of the most effective methods to keep a positive mental attitude is to surround yourself with people who are confident in your abilities. If you’re always around optimistic people who believe in your ambitions, It’s easier to stay inspired and push ahead.

5) Discuss your concerns

If you’re in charge of an enterprise, it’s simple to become distracted by the day-to-day and forget about the bigger overall picture. It’s possible to worry about how to make ends meet and meet deadlines or having to deal with demanding customers. Discussing these concerns with the rest of your entrepreneurial friends and colleagues is essential to ensure that things stay on the right track.

6) Be focused on progress, not perfect

When you’re an entrepreneur is effortless to be caught in the pursuit of perfection. You’d like your service or product to look flawless before launching it, but the reality is that it’s impossible to be perfect. It is essential to keep in mind that the pace of progress will always be better than perfect. Start by taking it one day at a. The advantage of keeping a single day in mind at a time is that even should things not go as scheduled. It doesn’t matter since tomorrow is another day to start from scratch. Create workable goals. After creating some feasible goals, please keep track of them and assess how they performed based on outcomes rather than the amount of time and effort poured into them.

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What Is Good Debt and Bad Debt for a Small Business?



There are two kinds of loans for small companies. Find out which one is best and which one is not.

For many people, the term “debt” has negative connotations. However, when setting up a small-sized company, it is not necessary to stay clear of debt completely. There’s “good debt” that is essential for growth when you start an enterprise, but there’s “bad” debt that could cause long-term harm to your financial situation.

The difference between good and bad debt and how to manage your company’s finances to keep them in check.

Good debt in contrast to. Credit card debt What’s the distinction?

Lyle Solomon, principal attorney for Oak View Law Group, states, “good debt returns money to your pocket, but bad debt takes money from your pocket.”


“Debt that increases your future net worth is considered good debt, and debt that reduces your future net value is referred to as bad debt,” Solomon added.

Good debt

Kenneth Hearn, fund manager and director of research for Swiss One Capital AG, describes good small-sized business loans as the money borrowed to finance things that contribute to the development and growth of their company.

“This could be for anything from paying for improvements to meet new safety regulations or expanding your human resources team,” the man explained. “A general rule of ‘good debt’ is debt that is low-interest, or will increase the overall net worth of your business.”

Paying off your debts shows you have a good payment history, which your credit rating can show. The more debt types you can manage responsibly and pay off, the more favourable. This means that more lenders will permit you to get in the future.

Bad debt

When a lender takes out money to purchase an item that doesn’t increase in value or produce revenue, it is often regarded as bad credit. Any loan or borrowed funds that could lower the value of your company’s net future must be avoided. The signs of bad debt are the high-interest cost, fees, and strict loan repayment conditions.


Examples of lousy credit include cash advances and payday loans, usually called “predatory loans.”

“These loans . Target people with bad credit or low income with few options to consider,” Solomon added. Solomon. “[They often] come with exorbitant interest rates and unethical terms.”

Things to think about when making a “good debt an investment

If you are considering getting a loan, entrepreneurs in small businesses should consider the type of debt they’ll be taking on. If the lender takes out a loan for an asset that isn’t going to depreciate, for example, real estate, education, or their own company, on favourable terms, it’s considered to be a good debt.

“Healthy debt entails borrowing money for investing in items that do not depreciate over time,” Solomon explained. Solomon. “Keep the above in mind when you borrow money to run your business. Use the funds to minimize the chance of a catastrophe or loss.”

One approach small business owners may employ when borrowing money is to commit to the lowest rate of interest possible.


“Your interest payments are tax-deductible,” Hearn said. Hearn. “These tax deductions could help you get over the red line and into the realm of profitability. If you manage your cards correctly, interest rates can benefit you rather than against you.”

Strategies to get out of credit

If a small-sized business owner is trying to escape the burden of bad debt, There are options to overcome the situation. First, examine the company’s budget and financial statements.

“Financial management software has come a long way over the past couple of decades, and having proper procedures for data entry and its use from the start of your business is crucial to managing good or bad debt,” Hearn said. Hearn.

For business owners who are in “bad debt,” Solomon advised consolidating debts to one loan.

“Debt consolidation is an intelligent debt management approach to ensure you’re paying the lowest rates and on the most optimal or flexible terms available,” said the expert to CO–. “Such a move would benefit your business, as you can avoid worries regarding payments.”


Companies must ensure they have the funds to repay this consolidating loan, or it could negatively affect their business credit and financial situation. However, if used properly in the right way, consolidating or restructuring multiple debts is an innovative method of managing the finances of small businesses.

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