If you’re a small business owner trying to gain a better understanding of your company’s financial health, your profit and loss (P&L) statement is a powerful starting point. Also known as an income statement, this essential report reveals how much money your business earns or loses over a specific period. At PL Consulting, we help […]

In today’s fast-paced business environment, entrepreneurs and small business owners are expected to wear multiple hats, those of a leader, marketer, and often, bookkeeper. But thanks to rapid advancements in financial technology, traditional bookkeeping is being reshaped by automation. This shift doesn’t just reduce errors and save time; it empowers entrepreneurs with real-time financial insights

Bookkeeping vs. Accounting: Key Differences Every Entrepreneur Should Know As a small business owner, navigating your company’s finances is both a necessity and a challenge. Whether you’re managing a growing e-commerce shop, a boutique agency, or a contracting business, understanding the difference between bookkeeping and accounting can clarify your next financial steps. While often used

As a small business owner, managing day-to-day operations is challenging enough; keeping up with your books often gets pushed to the bottom of your to-do list. However, consistent monthly bookkeeping is not just a best practice; it’s a necessity for achieving financial clarity, ensuring smooth tax filing, and fostering long-term business growth. This guide provides

How to Choose the Right Bookkeeper for Your Small Business Bookkeeping is the basis of a successful small business. It tracks every cent that comes and goes. Plus, errors will cost you dearly when it comes time to file your taxes, so get it right. When it comes to hiring a bookkeeper, it is not

Tax season doesn’t have to be a scramble. For many small and midsize business owners, the start of a new year brings a wave of anxiety about financial documents, missed deductions, and looming IRS deadlines. But with a strategic approach to bookkeeping, preparing for tax season can be a smooth, manageable process, especially when you

Running a business is already tough; the more it grows, the tougher things get. Day-to-day operations, customer relations, and marketing can leave little time for meticulous maintenance of proper financial records. But without a clear set of books, your business risks cash flow problems, tax penalties, and delayed growth. For this reason, many small and

Bookkeeping is the cornerstone of a successful small business. Having an accurate record of finances helps you keep track of performance, make data-driven decisions, maintain tax compliance, and secure your growth prospects. However, while it’s so critical, bookkeeping remains an area that’s often botched, particularly at companies that are smaller, middle-of-the-road in size, and are trying