Budgeting is just another component of running a business. Not only do you need to know where your money is coming and going, but you should have limits so you only spend within your means. Budgets encourage accountability and responsibility. QuickBooks, the number one accounting software for small to midsize businesses, makes budgeting a breeze with a built-in tool for your convenience on both the online and desktop versions of their software. Let’s get started!

QuickBooks Desktop

Once you are logged into your QBD account, go to Company > Planning & Budgeting > Set Up Budgets. From there, update the year you are budgeting for and choose your budget type. The two budget types are Profit & Loss or Balance Sheet. Normally, a Profit &

Whether your small business remained open during the COVID-19 pandemic, if it’s just now re-opening, or somewhere in-between, it seems all are trying to find ways to save some money. Believe it or not, there are some simple yet effective ways small businesses can save. It’s important to have up-to-date and accurate bookkeeping records so you know where you can make changes and then notice the impact of their savings.  

Outsource. 

Rather than onboarding a new employee, offering benefits, and training, consider outsourcing when possible. This cuts out payroll costs, which accounts for roughly 70% of a business’ expenses. By keeping your payroll costs low, you’re saving money. Outsourcing will typically be a lower cost