Efficient business systems really pay off

Too many businesses fall over because the owner has not established efficient business systems. This typically happens because the business owner is so caught up in the day-to day running of the business that the fundamentals of good business management get forgotten. Often too it must be said that the owner simply doesn’t like bookkeeping or other administrative tasks, so these get put on the back burner. The symptoms are…  Read more

The three most important financial reports

While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering. Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk and make scalable plans for future growth. Protect your company’s financial health by learning your way around these three financial reports. Cash flow statement The cash flow statement…  Read more

If my business is making a profit, where is the cash?

Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three reasons profitable businesses have little money in the bank, and what business owners can do to…  Read more

5 Xero Mistakes Business Owners Make and How To Avoid Them

If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure that you keep…  Read more

4 Ways Management Accounting Reports Can Benefit Your Small Business

If you’re like most of our small business clients, you’re way too busy winning more sales and managing your day-to-day operations that your management accounting report always gets pushed on the back burner. As a trusted accountant and management accounting firm in Nashville, Bean Counter 4 Hire can share valuable insights on your financial performance and aid you in your business decision making process. Most of our clients understand the…  Read more

Baby boomers and millennials in business

These days, it’s inevitable that a diverse group of older and younger workers cross paths in business. After all, the young, tech-savvy, socially conscious demographic known as Gen Y is currently the largest living generation, navigating the workforce in record numbers. And the boomers may be retirement age, but that doesn’t mean they’re ready to stop working. Many baby boomers are choosing to enjoy “encore careers” – jobs that allow…  Read more

8 things your invoice needs in order to get paid faster

So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you should include. So here is a step-by-step guide on what to include on your invoices.…  Read more

How Accounting Software Can Increase Profits

Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost your…  Read more

Using KPIs to monitor and improve business performance

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share, however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and data sets from which to choose and select, but that data needs to target those specific…  Read more

9 reasons to switch to cloud computing

Don’t be left up in the air by traditional IT solutions. Check out the top 9 advantages for small businesses switching to cloud computing. Cloud computing is fast becoming the norm because storing information and using software hosted on the Internet has many advantages.   1. Save money Traditionally, a small business spends money licensing software or buying packages to install or download onto individual computers. Cloud computing, on the…  Read more

5 Ways to Save Money for your Business

Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line. 1. Reduce staff costs Without a doubt, having someone to help deal with routine tasks can greatly improve productivity. The rub is that hired help is often too expensive for small business owners. Internships can be a real win-win: a student gets hands-on experience assisting you with marketing, accounting or…  Read more

Surprisingly Destructive Habits You Should Avoid as an Entrepreneur

Entrepreneurs want to have their hands on every aspect of their start-up. This is understandable, as many entrepreneurs come into their respective industries from a place of passion. Their passion will drive them to spend long nights at the office, working hard every hour of every day. Unknown to them, this kind of attitude can actually lead to some destructive outcomes. You must avoid these habits, despite the allure of…  Read more

Ideas for business goals this year

The start of the year is the perfect time to dust off last year’s business plan and set some new goals for the future. While some entrepreneurs love planning, others feel overwhelmed by the process. How do you decide on just a handful of goals that take priority, with so many moving parts that make up a business? These tips can help you get started brainstorming how your company can…  Read more

Update your business plan for a new year

As another year winds down, it’s a good time to reflect on your recent business successes – and consider what you’d like to achieve in the coming twelve to fifteen months. These tips can help you with the process of making plans to help guide your business to greater success. Set priorities Entrepreneurs are typically highly creative and optimistic; as a result, they often have difficulty narrowing down their ideas…  Read more

Planning the year ahead

The turn of the year usually prompts most people to think about some business planning for the year ahead. Here are some tips to make planning more productive. Get your team involved Business planning works best when it’s a team effort. Involve your key staff and your advisors, such as your accountant, your mentor (if you have one), and others who can contribute meaningfully to the planning, such as an…  Read more

Enjoying a stress-free holiday

As a business owner, it’s important to take time away from work. But worrying about whether the staff is meeting deadlines and suppliers are happy translates to more stress and less time enjoying your holiday. With a little staff communication and planning beforehand, you needn’t worry that your business won’t be able to cope with your absence. If you really can’t switch off from work mode or something urgent pops…  Read more

Ramp – the corporate card of choice for Bean Counter 4 Hire

Bean Counter 4 Hire is proud to announce its partnership with Ramp GET RAMP   The only corporate card and spend management platform that automates your accounting and lowers your bills. Deploy in 15 minutes    Close your books 5x faster    Save $100,000+    1.5% cashback. Ease of use Ramp has award winning user experience, does away with expense reports entirely, and saves finance teams 5 days/month on average. Receipt matching…  Read more

5 Most Common Accounting Mistakes That Could Hurt Your Business

Many small business owners tend to handle their own accounting and bookkeeping, especially when they’ve just started out. However, keeping track of the finance-side of the business– everything from income to expenses to tax compliance– can be overwhelming. Mistakes can happen quite easily and can have costly consequences for your business. Below are five of the most common DIY accounting errors that you should avoid. Unorganized Records It takes excellent…  Read more

4 Payment Options Your Small Business Should Consider

When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: 1. Credit and debit…  Read more

New Partnership

  Bean Counter 4 Hire, LLC has recently partnered with Brex, a new corporate credit card built to help start-up’s spend easily and scale faster! The Brex card is not for all small businesses, but as you can see below it can help companies in multiple industries. The core difference between Brex and traditional credit cards is the underwriting process. Brex conducts its underwriting model based on the cash in…  Read more

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