Blog Posts
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The $36,000 Mistake Too Many Small Business Owners Are Making Right Now
Spoiler: It rhymes with DIY bookkeeping Picture this: It’s 11 pm (23:00 to some) on a Tuesday. Your family is asleep, client work is done, but you’re hunched over your laptop trying to figure out why your…
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Misclassify Owner Draws and Your Books Will Break
If you’re running a small service-based business, chances are you’ve pulled money out of the business. Maybe it’s monthly, maybe it’s whenever cash builds up. But if you’re recording those owner draws the wrong way, you’re setting…
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Not All Bookkeepers Understand Advisory Firms
Most bookkeepers are generalists. They understand restaurants, plumbers, retail shops, but RIA firms? That’s a different animal. If your bookkeeper doesn’t understand the realities of a registered investment advisory (RIA) firm or wealth management practice, you could…
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The IRS Doesn’t Care About Your Opinion on Cash vs. Accrual, Know the Rules
For most small businesses, choosing between cash and accrual accounting is a matter of preference, tax strategy, and simplicity. But if you run an RIA, it is not a choice. It is a requirement. The SEC requires…
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Misclassify one transaction and it could derail your entire P&L
Your profit and loss (P&L) statement isn’t just a compliance document, it’s your financial scorecard. But if you misclassify even one transaction, that scorecard becomes unreliable. The result is that your P&L is off, so are your…
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If you’re not reconciling every month, your books are lying to you
Sarah thought she was on top of her game. Her financial advisory practice was thriving, client assets under management were climbing, and she’d finally hired that associate she’d been putting off for months. But when her CPA…
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Maximize Your Firm’s Profits with Expense Audits
Most business owners don’t lose clients—they bleed profit slowly through poor expense tracking. 🩸 →What I wish more firms knew: It’s not the big-ticket items killing your margins—it’s the dozens of small, recurring charges you stopped questioning.…
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Transform Your Financials into a Leadership Tool
If I could only teach one thing about bookkeeping, it’s this: Your financial records should be your business compass. 🧭 They aren’t just a tax tool—they’re your leadership toolkit. When you have clean, organized books, you gain…
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Chart of Accounts: A Complete Setup Guide for Service-Based Businesses
Your chart of accounts is the backbone of your financial ecosystem. Yet it’s often overlooked until tax season hits and you’re scrambling to make sense of your numbers. Let me walk you through how to set up…
Becker & Ledger 