Why you need to use a real accounting system

accounting systemThis is a story of a company that is currently using Excel instead of a real accounting system.

I recently was talking to a prospective client who has been in business multiple years and is doing rather nicely.  They are on the cusp of a dramatic increase in sales and as such new that they needed to bring on in some capacity a Chief Financial Officer.

Accounting System vs Excel

During the course of our wide-ranging discussion, I asked what accounting system he was using.  His answer was a little shocking in that this established, multi-year business was using Excel spreadsheets.  When I said that was really an insufficient and potentially a dangerous way to keep one’s books and records, he asked why? Continue reading »

Vendor and IRS Compliance: small business series

Vendor Shuffle

All companies have at least one Vendor .  Most companies have incomplete Vendor files. Do you suffer from this ailment?

SBA * Consulting has been in and out of over fifty businesses since its inception.  Moreover, without fail, every business at calendar year-end has had to do the Vendor 1099 shuffle.

What is the Vendor 1099 shuffle?  That is the overwhelming, time-consuming, deadline-looming, aggravating, blood pressure-raising period from sometime in December to January when you realize you aren’t going to be able to produce your IRS form 1099.

Vendor Database Maintenance

Continue reading »

Bank Reconciliation: small business series

Bank Reconciliation

Check Register Bank ReconciliationToo often the start-up company doesn’t see a need to implement accounting and accounting controls.  They start their new company and run their business out of their checkbook.  Their check register and bank statement become their accounting system. Not only that, they never do a bank reconciliation.

This mode of operation is fraught with issues that can ruin a good idea faster than that speeding bullet.

How often do you do your bank reconciliation on your personal account?  Did you record all those checks? What about the zillion debit card transactions?  How do you know someone didn’t slip an unauthorized check or charge into the mix?

The picture to the right is a simplistic check register.  Not much different than the register’s that come with your checkbook.  So what’s wrong with this register?  I see several issues.  Most glaring is there are missing check numbers.  What happened to check 54356 and 54357?  Were they destroyed, are the saved for future use (and why) or did you forget to record them.  If you did use them, how much were they for?  Are you now in overdraft?

Or, did someone take the checks and commit a fraud?

Is your company checks and checkbook locked away?

Do you have a process for writing checks?

Continue reading »

Bookkeeping – why not use the professionals?

Did you know that Bookkeeping in a small business…accountant-bookkeeping

Prepares and records

• Bill payment
• Bank reconciliation
• Payroll services
• Ledger keeping
• Accounts payable and receivable

Your Bookkeeper is one of the most important members of your team.  Without their assistance, you wouldn’t be able to run your business. Continue reading »

A New Look, a new logo: Growth is Good

After adopting a QR-tag as a logo in 2011, SBA * Consulting has decided a new look, a new venue for the dissemination of information was required.

QR-tags impact has waned, but SBA * Consulting and both its tag line Growth is Good” and its mission hasn’t.

Our newly designed logo

Our old symbol

SBA * Consulting LTD logoSBA * Consulting Logo


New services

We’ve added new services to our small and start-up clients.  Virtual bookkeeping Services utilizing the Xero SaaS based accounting system, with suggested add-ons for all customers: Hubdoc, Expensify, Float or Spotlight Reporting.  Xero has hundreds of vertical and horizontal 3rd party add-ons so almost any small business can operate.