As a small business owner, you’re often managing several different areas of your business- and bookkeeping is one of the most important. A startling statistic noted in Small Business Economics, is that about 33% of closed businesses were actually considered successful when they “failed.” There can be many reasons why a business closes, but you have to wonder- if this business owner kept better tabs on their bookkeeping and accounting, would things have turned out differently? Were the books telling an inaccurate story to the Unfortunately, what some misconstrue to be the “easy” task of bookkeeping can quickly become something that keeps you up at night- frankly, a nightmare. You probably find yourself saying “I’ll get to the filing, be better organized, enter those receipts, finally get ahead of my finances, etc…” like mantra, before getting swept up in 20 other tasks. Below are some examples of bookkeeping nightmares to take note of, and how to avoid them.
Jul 17, 2018
The first company to create a robotic bookkeeping solution is breaking down yet another barrier. We’re giving cash-strapped startup companies the professional bookkeeping expertise they need at an unbeatable price: FREE.
Jul 10, 2018
Theft, fraud, embezzlement, thieving, larceny, appropriation, swindling- have you been hearing a lot of these terms lately? Sadly, a quick glance at any major news outlet will show you that bookkeeper theft has been rampant this past year, resulting in dozens of cased of fraud. The idea of a bookkeeper stealing money from you is almost inconceivable for many business owners. After all, you probably have a personal relationship with this person. You've trusted them to watch over the single most important part of your business. If money is going ‘out the back door’ due to bookkeeper theft, you will have very little chance of success in the long term. Unfortunately, this kind of theft is something that happens from time to time, so you need to pay close attention to make sure you don’t become a victim. Do you know what to look for? Here are 4 signs that can help you determine if your bookkeeper is stealing from you...
Jul 9, 2018
You have a lot going on when operating a small business—and handling your bookkeeping generally isn't the sexiest on the list. Why should you be concerned with mastering even the most basic accounting principles when you have sales to close, a website to market, and customers to please?
Well, in theory, sure. But having an understanding of basic accounting principles—or at least the big ones—will ensure you don't jeopardize your business.
Jul 6, 2018
A timeless quote we love, is "Nothing can be said to be certain, except death and taxes". How true! Good ole' tax time is going to come without fail, every year- and in a perfect world, you would be able to pay your business taxes on time, every time. When the due date rolled around, you'd simply transfer the money to the government and be done with it.
Of course, we don’t live in a perfect world. Instead, cash flow gets tight from time to time, different things get prioritized, and hey- you might fall behind on your taxes. Life happens right? The best thing you can do is chart a path to get back on schedule as quickly as possible. If this has happened to you, below are some quick ways to help you get back on track.
Jun 29, 2018
The SaaS space is growing like crazy. Today’s business owner has numerous software applications built into their company framework, and is getting a ton of emails every day with the promise of the bigger better option. But how do you even know if you’re getting the most bang for your buck when it comes to your software spend? Are your employees using the tools you've invested in? What are your employees even signing up for? Should you be evaluating competitive vendors? When are all of your contracts up? Which new evaluations are worth your time?
Jun 28, 2018
Today it was announced that botkeeper has been named a winner of Red Herring's Top 100 North America 2018 award, which highlights the continent's most exciting and innovative private technology companies!
Jun 27, 2018
Artificial Intelligence (AI) is poised to be the next big thing in technology. Several companies and startups are now developing AI to further advance the medical, marketing, accounting and communications field. Smarter virtual assistants such as Siri and Alexa were made possible - all thanks to the development of AI.
Since more companies now delve into the development of AI (to be used in different fields), investors are positive that the industry holds a lot of promise. But aside from venture capitalists, and individual investors, companies (especially startups) are also encouraged to make use of AI services as early as possible.
Jun 21, 2018
We're proud to announce this week that botkeeper has been selected as a finalist for Red Herring's Top 100 North America award, a prestigious list honoring the year’s most promising private technology ventures from the North American business region!
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across North America. The nominees are evaluated on 20 main quantitative and qualitative criterion, which include disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy, and integration into their respective industries.
Jun 20, 2018
We recently had the pleasure of sitting down with Theodora Higginson Hanna, Co-Executive Director of Tech Goes Home out of Boston. Theodora (Theo) was kind enough to share a bit of her experience with bringing a new level of AI and automation into the organization by using botkeeper.
Jun 18, 2018