Mace Accounting

We’re celebrating ! National Dollar Day on August 8th commemorates the day Congress established the U.S. monetary system in 1786.
Want to add some more of that green in your pockets? That’s what we’re here for!

A C T Rentals has full hook-ups for Campers, open all year around. Just outside City Limits of Vienna, WV Within 2 miles of eateries, mall, Sam's Club, etc. Easy access to Rt 14 North or South of I77. Month to month rent, 525/month, No Deposit. Give me a call or text: 304-580.1208. Our address is: 6250 Grand Central Avenue, Vienna, WV 26105

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Celebrate with us! 🌎
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A few tips for that Small Business Owner:

Separate business and personal expenses
Track every business expense
Accurately record income

Some more tips to come.

Taking new clients for Bookkeeping Services. Payroll, monthly, quarterly, annually, Accounts Payable, Accounts Receivable, Bank Statements and many other modules. Give me a call or text today! Have your books ready for tax season. 304-580-1208

Mace Accounting updated their website address.

Does your small company need to be organized so you know if you are making a Profit or just getting by. Give me a call or text at 304-580-1208. I am currently taking on new clients. Looking forward to meeting you and your challenge for me

SBA Implements Automatic Deferment on Existing SBA Disaster Loans

Today, U.S. Small Business Administration Administrator Jovita Carranza announced changes to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through December 31, 2020, are now automatic. The changes mean borrowers of home and business disaster loans do not have to contact SBA to request deferment.

Hire a Bookkeeper
The easiest way to handle receipts, payroll, and taxes for your business is to hire a bookkeeper. A trained bookkeeper can do all of the essential functions that you no longer have time to handle when your business scales up

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Consider lockbox processing
If you receive a large amount of customer payments, you’re a prime candidate for lockbox processing. Instead of having payments sent to your business address, they go to a PO box where the bank processes the payments and deposits them directly into your account. The bank sends you electronic records of the transactions that are automatically entered into your accounting software.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Hire a Bookkeeper
The easiest way to handle receipts, payroll, and taxes for your business is to hire a bookkeeper. A trained bookkeeper can do all of the essential functions that you no longer have time to handle when your business scales up

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Automate whatever you can.
Entering data into spreadsheets and reconciling numbers manually is so old school. Use cloud-based bookkeeping software, and do your business banking online. That way, you can sync your bookkeeping software with your business bank account so you always have accurate, up-to-the-minute records. Plus, with the cloud, your critical financial data is backed up safely off-site.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Use a standard chart of accounts
Instead of allowing people to code invoices as they would like, make everybody use the same account numbers. When processes are consistent across all employees and departments, the accounts people can process paperwork more rapidly.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Clean up the books.
Most entrepreneurs aren’t accountants and don’t have an in-house accounting professional, so keeping the books current can become a daunting task.

But if you update your books consistently, you can save time and reduce stress.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Evaluate past due invoices and credit policies.
Collecting on past due invoices can be unpleasant as well as cost you time. Re-evaluate your credit policies. Consider how to enable payment when the service or sale is made, instead of thirty days later.

An accountant or bookkeeper may be able to help you find a better credit policy for your business. If delinquent accounts are an issue, you may also want to consider turning the worst offenders over to a collection agency..

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Automate invoicing.
Month end invoicing can be a time sink, and sometimes an unpaid invoice or two can get lost in the shuffle, which costs you money.

QuickBooks Online accounting software lets you automatically generate invoices, which you can email or print. After you create the invoice, the information is fed into your accounting reports automatically, reducing data entry time.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Bill on time. Many large companies bill daily and do not wait until the end of the month. The biggest mistake that most small-business owners make is that they do not bill at least monthly. This severely limits the company’s cash flow and ability to fund expansion.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

Delegate Your Accounting To Someone Else
Some of us are just not meant for accounting. That doesn’t mean you shouldn’t learn the basic skills, but it may mean you need to find another employee or service to handle your day-to-day finances. To start you can hire a contracted money manager or local accounting firm to handle all the tedious tasks. These experts also know various tricks to save you money and can help mitigate financial blunders in the future.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day - Create profit and loss statements

If you’re sending invoices to clients, you should offer an incentive if the client pays early. Late payments can severely hurt your cash flow especially if you’re a freelancer. As long as you’re strategic about discounts and incentives, this strategy will surely boost your cash flow rather than the latter.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day.

Keep a Cash Reserve
In business and in life you should always have a contingency plan. It’s common for small business owners to dump excess cash back into their business to scale. This is a good practice only if you’re putting a small portion into cash reserves. Most financial analysts suggest having at least three months of runway (basic operating expenses) on hand at all times.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day.

Budget for Tax
Even though you might be rolling in the big bucks and made a profit, not all of the money is yours as you’ll need to hand some over to the taxman. A good rule to follow is that you budget for this as you go along so that you’re not massively shocked at the end of the year.

If you have a savings account or something similar, set a little bit of your income aside so that you can easily pay off your tax bill without any worries and enjoy the rest of your profit.

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day.

Use a Digital App
There’s an app for pretty much everything nowadays, so it comes as no surprise that there are bookkeeping and accounting apps you can download to keep your incomings, outgoings and taxes properly organised. This makes it a whole lot easier for you to manage your financial records.

Ask us about Quickbooks, we can help you pick the right version for your business

Call us today to see how we can help you (304) 580-1208!

Mace Accounting Tip of the Day.

Get to Grips With Tax Rules

When it comes to tax, it’s important you know exactly which ones apply to you and your business so you know which types of tax you’ll actually need to pay. Income tax, National Insurance, Corporation tax, VAT and business rates - do your research into all of them so you know what you need to pay.

Call us today to see how we can help you (304) 580-1208!