Why conduct a bank reconciliation? Because cash flow is important to a business, the cash balance shown on a company’s balance sheet and bank statement must be accurate to help manage, run and grow the business. Since the balances between these two records may not agree, a bank reconciliation is performed monthly to identify and explain differences that may result from the timing of posted activities, errors made by the bank or the company, fraudulent activities of a company’s employees or…

How you organize your files is more than useful since you can now work remotely and more importantly have access to files from any device anywhere. The organization does not come easy to all of us so I was prompted to write this article since I’m always helping a client to get them organized.
Structure It
Know your business universe has a structure is important to organizing your computer files to meet this structure in a hierarchy is very important. I typically show clients how to keep…

Before incoporating understanding the differences in the business structures are important. Incorporating is a big deal and choosing the right entity is just as important. There are certain factors you should take into consideration when deciding the type of entity you should use. Below are eleven key factors to consider when choosing a business structure, see what structures have what you are seeking.
 
1. Owners have limited liability for business debts and obligations.
C Corp | S…

Obtaining and filing a business certificate in New York much less any other state is important when starting a business if you do not want to incorporate. Every county requires anyone operating a profit-seeking business, in a name other than their own, to acquire a business certificate. Each county clerk’s office files forms for particular cities. Check with your local county office before filling out the proper form.

Prior to going to the county clerk’s office, get hold of “form X-201 for…

Free legal assistance for small business owners is hard to find. New York City business owners just got a break on this for the negotiating of commercial leases or any lease matter. It’s better than nothing since locking in to a ten-year lease or more can be a daunting task. The new program will provide up to 40 hours of legal services to a qualifying small business owner involved in a lease-related legal issue, including:
Signing a new commercial lease
Amending, renewing, or terminating an…