The Impact of Tax Reform on Financial Statements: Are You Ready?

You’ve probably seen the big changes that many publicly traded entities have announced related to the accounting for the Tax Cuts and Jobs Act. It’s important to remember that the impact of tax reform...

Why Using Sales Tax Revenue as Working Capital Could Destroy your Small Business

There’s an urban myth among many businesses that goes something like this: “I collect sales tax, therefore it’s OK to use it from time to time to run my business.” However, this line of...

Understanding Liquidity – The State of Your Company’s Assets

“I’m very liquid”, you hear the giants of industry say. I think we all jump to the conclusion that the person making the statement has a lot of cash. In general, we would be...

How to Choose your Small Business Accountant

One of the most important decisions that you will make as an entrepreneur is the selection of a small business accountant and tax advisor. It is can also be one of the most intimidating decisions for most...

Small Business Financing: Why you Should Consider a Line of Credit

If you’re running a small business, you’ve got a long list of operational concerns, with cash flow at the very top. Conducting day to day operations, hiring and managing employees, maintaining inventory stock, keeping...

What Do Income Statements and Balance Sheets Actually Tell You?

Financial statements may not immediately drum up feelings of elation—but at Bench, we think numbers can bring joy. We put this guide together to help improve your financial literacy by understanding your statements and how...

How to Utilize your Accountant to Improve your Small Business Efficiency

From expenses and timesheets to estimates and invoices, it can be overwhelming to condense an entire year of business into one single meeting with your accountant. Wouldn’t it be great if they were with you all year long monitoring...

The Profitability of Accounting: Cash vs. Accrual Based Accounting Method

Timing in business is everything. If it’s not us personally wanting something right now, it’s our customers. That's where cash based or accrual based accounting method comes in. Queen states it very clearly with...

The Best Credit Options for Financing Small Business Growth

If you’re a small business owner, congratulations! You’ve accomplished what some likely told you was impossible and built a business from the ground up. Now it’s time to grow, and credit options are likely needed....

A Step-by-Step Guide for Getting your Bookkeeping Organized for Tax Season

Tax season is now in full swing, meaning that many are likely wishing they had instituted better organizational systems over the past year. Use this bookkeeping how-to guide to get your small business organized,...