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Talking Shop

Welcome to Kashoo's blog.

What is a Suspense Account (And Why is it Important?)

Lately, we've been talking about the different types of accounts (see the valuation account and the nominal account) that you can set up as part of your business' accounting when you need to carry out specific financial activities. These types of accounts are more specialized than your standard income and expense accounts. Now we're going to take a look at another one of these specialized accounts: the suspense account.

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Topics: Accounting

Tales from the Small Business Web Summit

We recently got back from another fantastic edition of the Small Business Web Summit. (For those unfamiliar, SBWeb is a little retreat where leaders of companies that make cloud software for small businesses get together, share ideas and have a little fun.) We've been a part of the Small Business Web since its founding in 2009 and have participated in the Summit programming for the last three years. 

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Topics: Accounting

Tasks a Small Business Owner Shouldn't Be Doing

 

When you run a small business, it's easy to fall into the habit of taking on everything. But doing so simply doesn't make sense. You can't do it all—nor should you. Trying to take on every aspect of your business will likely mean that everything gets just a little less attention than it should. And that will cost you in the long run. 

So if we're in agreement that you shouldn't be doing everything, what should you offload and how?

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Topics: Small Business Tips

Numbers Your Business' Health Depends On

"Numbers never lie."

It's a phrase you've undoubtedly heard at one point or another in your life, especially as it relates to business. Well guess what? It's pretty much tried and true. Numbers are the lifeblood of your business; they're how you measure growth, success, failures, progress... everything. Numbers are your gut's foil. (Yes you just read the phrase "gut's foil" on an accounting software blog.)

Even though we accept "numbers never lie" as gospel, many small business owners (who, in fact, may not be what you'd call "numbers people") don't know where to start when it comes to understanding which numbers are the most important to be cognizant of and focus on. So that's what we're going to focus on here: the numbers that your business' health depends on.

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Topics: Accounting

Three Habits that Make Accounting Gloriously Simple

There's a lot that goes in to running a small business. When you first start out, you're often everything to everyone: sales, HR, marketing, R&D, IT support, procurement... the list goes on—and it also includes accounting. And while various business responsibilities may require more involvement, planning or variance, accounting can actually be pretty straightforward. Here's how...

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Topics: Accounting