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The Botkeeper Blog

Bookkeeping, accounting, and business resources to help you become a finance guru. 

17 min read

The Best 35 Affiliate Marketing Programs of 2019

By Vanessa Gershbein on Nov 14, 2019 8:50:00 AM

Think of the last time you or your business made a big purchase. Did you seek out external confirmation from an expert, influencer, or a friend? Of course you did—most people do! You sought information from trusted resources, sometimes known as affiliate marketers because these resources can get paid for sharing their knowledge.

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7 min read

Botlife: Why We Value Flexibility in the Workplace

By Aaron Sullivan on Nov 12, 2019 2:16:42 PM

“Bot” may be in our name, but robots aren’t necessarily our premium priority at Botkeeper. In fact, we have a whole team of humans behind the bots, and we put their happiness and quality of life right up there with creating and maintaining the revolutionary tech that is automated bookkeeping with a human touch.

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7 min read

Job Costing for Construction: What It Is & How It Helps

By Aaron Sullivan on Nov 6, 2019 2:45:00 PM

There are a lot of responsibilities that come with running a successful construction business, but job costing is one of the most important. It's sort of like planning out your grocery list for Thanksgiving dinner...you want to get just the right amounts of everything without breaking the bank. And like planning the perfect holiday fête, when done correctly, job costing can ensure your construction business is successful while keeping surprises to a minimum.

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11 min read

7 Experts Weigh In On the Future of Accounting

By Aaron Sullivan on Nov 5, 2019 2:58:47 PM

Every industry is impacted by the rise of technology and automation, and for many, that can be an overwhelming—possibly even scary—thought. So we set out to get to the bottom of how real accounting experts view this ongoing change to the industry. Our friend Jody Padar, The Radical CPA, conducted a series of interviews with accounting industry thought leaders and influencers, and we pulled together this collection of highlights as they relate to select questions.

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6 min read

Is Your Web Host Damaging Your Reputation?

By Jodie Manners on Oct 31, 2019 3:33:08 PM

Any business owner knows that reputation management is a big part of attracting customers. Leads and potential customers/clients are paying attention to what you say, how you say it, your brand elements, and most importantly—your website. But is your web host damaging your reputation and holding you back from success?

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12 min read

How eMoney Advisors Can Help With Financial Planning

By Aaron Sullivan on Oct 29, 2019 12:54:28 PM

Financial planning can be intimidating. But it doesn't have to be, and that's what the Radical CPA Jody Padar covered in her final CPA Insights interview at the AICPA Engage 2019. Her guest was Celeste Revelli, director of financial planning at eMoney Advisors, an online financial planning service. 

Padar and Revelli chatted about all the different features eMoney Advisors has to offer accountants who are starting to dip their toes into financial planning. What lots of accountants don’t know is that you don’t need to be a certified Financial Advisor to start having those types of conversations with your clients. You need the right tools!

That's where eMoney steps in as a tool that helps CPAs see exactly where their clients are spending money so they can better advise them on saving and how to accomplish long-term goals. Padar even uses it in her firm to better serve her clients.

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6 min read

How to Plan and Create a Construction Budgeting Analysis In 4 Steps

By Jess King on Oct 24, 2019 2:57:49 PM

Lincoln Logs, Legos, K'Nex, Erector Sets—remember how fun it was to create the structure of your dreams with any one of these building toys? As long as you had enough pieces, the possibilities seemed endless. And the best part was that you didn't need to create a construction budget or put anything down in order to bring your dream to life...just a vivid imagination!

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10 min read

We Have a Verdict: These 7 Law Firms Are Doing Big Things

By Yanik Fati on Oct 22, 2019 1:15:00 PM

In addition to being bookkeeping nerds and techies, we at Botkeeper are pretty entrenched in pop culture (that’s what you get when you have a cool company culture that mixes experienced, senior accountants with millennial technophiles!). And recently we talked about the phenomenon that is the TV show Law & Order—have you ever thought about how many versions there are? Now, we know a thing or two about counting stuff (not to brag), and we figured out that there are at least seven American iterations of the hit show.

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1 min read

What’s the Difference Between AI & ML? Free Ebook

By Aaron Sullivan on Oct 17, 2019 3:41:20 PM

We’re in the age of artificial intelligence (AI) and machine learning (ML), and most industry leaders believe the two concepts—working in tandem—will be what creates massive growth for companies in every vertical. It’s actually what’s known as the Fourth Industrial Revolution, and we probably haven’t even hit the thick of it yet.

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8 min read

The State of the Accounting Profession

By Aaron Sullivan on Oct 15, 2019 3:34:29 PM

Accounting today is not the same as it was ten years ago. And while many accountants have been in the industry long enough to be aware of the changes, not as many have stepped in to help inform other professionals. That’s not the case for Mark Koziel, who runs the AICPA Engage conference every year.

During that conference, Radical CPA Jody Padar talked to Koziel about the transformation of the accounting industry.

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6 min read

Construction Accounting Basics for Contractors

By Aaron Sullivan on Oct 10, 2019 2:28:07 PM

A day in the life of a contractor is a busy one. You’re up early to answer emails and sort through paperwork before heading to a jobsite. From there your day is full of meetings with subcontractors, reviewing the progress they’ve made, and making sure your project is on track and, more importantly, on budget.

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8 min read

What Does the COO of an Accounting Firm Do?

By Aaron Sullivan on Oct 8, 2019 9:40:00 AM

Another installment in our CPA Insights series, the Radical CPA Jody Padar sat down with Bernie Lietz, COO of Topel Forman in Chicago, at the AICPA ENGAGE event. Among the hot topics covered were what it’s like to lead a firm while balancing lots of different voices and opinions, as well as this year’s NBA Finals.

Lietz also described his interesting journey implementing value pricing at CPA firms. One of his previous CPA firms was one of the first in the industry to implement it about 8 years ago, so he knows what it takes to move in the direction of focusing on value for the client.

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6 min read

Botlife: Where Innovation Trumps the Status Quo

By Aaron Sullivan on Oct 4, 2019 12:16:21 PM

This might come as a surprise to you, but not everyone at Botkeeper is an actual bot. In fact, our collective bot body is made up of dozens upon dozens of full-fleshed humans who specialize in everything from accounting to tech. For a lot of companies, that might spell t-r-o-u-b-l-e—how do you maintain cohesion while also inspiring innovation and creativity in such a range of minds? Truth be told, it's a constant work in progress!

But at Botkeeper, creating a great company culture is one of our biggest priorities. There are lots of ways we do this, but one of the most important is through fostering an innovative environment.

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8 min read

Prepare your CPA Firm for the Future

By Aaron Sullivan on Oct 1, 2019 4:50:51 PM

Back at the 2019 AICPA Engage Event, Botkeeper Partner and Radical CPA Jody Padar spoke with Ryan Lazanis, a CPA from Montreal about helping other firm owners adjust to new technology and changes in the profession. 

Lazanis said he thinks we’re finished with the education phase—where firm owners are learning about all the new technology available to them and why it’s important—and we’ve moved onto the implementation phase in which firm owners are just trying to work out how exactly they can change their own processes. And he would know; he started an all-online CPA firm back in 2013 and found some pretty radical success through that adventure.

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7 min read

Order Up! A Basic Guide to Restaurant Accounting and Bookkeeping

By Aaron Sullivan on Sep 26, 2019 11:16:29 AM

Restaurant owners have one of the most demanding jobs around: pleasing foodies.

Successful restaurants thrive thanks to serving delicious, mouth-watering food, but that’s not all it takes. What about running the business side of things? That’s a different story.

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9 min read

What Kind Of Leader Are You?

By Aaron Sullivan on Sep 24, 2019 3:00:00 PM

As any mentor or leader can tell you, leadership isn’t easy. In fact, it involves having a great deal of self-awareness and a learner’s mindset in order to be effective. That’s what this interview is all about!

Continuing our series of CPA interviews conducted by the Radical CPA Jody Padar at the AICPA Engage event in Las Vegas, the following is a chat with Mike Maksymiw from Marcum LLP, which recently merged with Filomeno & Company. Padar and Maksymiw focused mostly on leadership, especially in the face of a company merger.

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8 min read

Bookkeeping with Excel Templates: Pros & Cons

By Aaron Sullivan on Sep 19, 2019 2:05:00 PM

You might visualize bookkeeping as sitting at a desk covered in receipts, looking through a green visor at rows and rows of hand-written numbers. And you wouldn't be entirely wrong. Many businesses have traditionally used programs like Excel to handle their business finances. But we live in the future, and technology exists to make this arduous, expensive approach to bookkeeping go the way of the dodo.

Automated booking software has eliminated the need for Excel in many cases, yet the Microsoft tool is still used by businesses and entrepreneurs for their bookkeeping, budgeting, and accounting needs. Sure, Excel can be a valuable bookkeeping tool, but with it has its share of disadvantages too.

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7 min read

Why Next Year Will Be The Best Accounting Year Ever

By Aaron Sullivan on Sep 17, 2019 4:52:34 PM

Have you ever thought about how the accounting industry mirrors the complexities of our nation? Well, get ready for that suggestion because The Radical CPA sat down with CPA and trendmaster Rick Telberg to talk about the state of accounting today and next year. 

Telberg is the founder of CPATrendlines.com, a data-driven research service for the accounting and finance community. He believes next year might be the best ever for the accounting profession, and the way he talks about it, it sounds like lots of accountants take his side!

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9 min read

These 7 Food & Bev Businesses Are Crushing It In 2019

By Yanik Fati on Sep 16, 2019 5:27:48 PM

At Botkeeper, even though our bots and automation work 24/7, we still have a big team of humans who make really important human decisions everyday...like figuring out what/when/where to eat and drink. You know what that’s like!

But fortunately, we live in an amazing time when you can get nearly anything you want at any time of day. You can literally wade through a buffet of buffet options when you’re hungry enough and feel like getting your money’s worth. And just as important to us as the quality of what we eat, we’re also into tech-driven, responsible innovations in the food and beverage industry. That’s why we’ve pulled together a list of some recent favorites our team can’t get enough of these days.

Let’s dig in!

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9 min read

Time and Tech Wait for No One

By Aaron Sullivan on Sep 10, 2019 1:30:00 PM

There’s no time like the present, especially when your career and industry depend on your ability to adopt new tech and take advantage of its benefits. That’s part of what Radical CPA Jody Padar and tech implementer and advisor Dustin Wheeler discussed at this year’s AICPA Engage event.

Padar and Wheeler met on social media and have been friends for over a decade. Padar even admits Wheeler was one of the first Radical CPAs!

Padar asked why he enjoys sharing technology with others in his firm, and Wheeler described how he jumps right into technology to learn it, rather than waiting for someone to explain it to him. He prefers to just mess around with the software and figure it out himself, which is great advice for CPAs who might be apprehensive about getting into technology. 

Check out the interview recording below, or read on for an edited version of the transcript.

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4 min read

5 Useful Accounting Tips to Help Grow Your Business

By Marla DiCarlo on Sep 5, 2019 10:30:00 AM

The following is a guest contribution from Raincatcher, a business broker focused on helping entrepreneurs buy and sell small- and medium-sized businesses.

When you own a business, it’s easy to view accounting as a necessary evil, but not something that you can strategically use for growth. By re-framing your thinking and approach, you can use accounting to your advantage. Accounting practices can be an integral part of your strategy for growth. 

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9 min read

The Fourth Industrial Revolution

By Aaron Sullivan on Sep 3, 2019 11:15:00 AM

The printing press. The steam engine. The assembly line. These technologies revolutionized the way we work and set humanity on a different course for productivity. And now Jasen Stine, training leader at Intuit, is drawing attention to what he calls the “fourth industrial revolution.”

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10 min read

How to Hire a Bookkeeper

By Aaron Sullivan on Aug 29, 2019 5:34:15 PM

So, your business has grown, and you’re finding it difficult to stay on top of your bills, taxes, customer payments, and a ton of other bookkeeping tasks. Sound familiar?

Many businesses wait too long to hire a bookkeeper until the signs are glaringly obvious—or worse—until a huge financial mess demands one. 

This accounting nightmare is all too common and often occurs because small businesses and entrepreneurs believe they don’t need a bookkeeper. But bookkeeping is a vital business function that goes beyond recording financial transactions. It also includes balancing your books, ensuring customer payment collections, paying bills on time to avoid late fees, recording and maintaining important financial information, generating financial statements, and much more. 

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9 min read

Improve Your Accounting Practice With Technology

By Aaron Sullivan on Aug 28, 2019 6:47:11 PM

Adapt or deal with being left behind. There’s no shortage of internet articles about how companies and firms must learn to evolve if they don’t want to get left behind.

Radical CPA Jody Padar covered this exact topic at the AICPA Engage conference in Las Vegas when she sat down with Aaron Berson, the managing director of the Virtual Business Team at Gettry Marcus CPA, P.C. The two also discussed the balance between being a CPA and a technologist, and what the most exciting new technology is.

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13 min read

9 Challenges All Restaurant Owners Face—And What To Do About Them

By Aaron Sullivan on Aug 22, 2019 2:05:15 PM

Someone should really write a tell-all book for business success that includes a money-back guarantee. There's no doubt that we'd buy that book. But since it doesn't exist (yet), the next-best alternative is to research and learn how to avoid the biggest mistakes and pain points your business might face. 

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7 min read

Bookkeeping vs. Accounting: What's the Difference?

By Aaron Sullivan on Aug 22, 2019 10:30:00 AM

Unless you’re a bookkeeper or accountant by trade, you probably don’t spend your days thinking about the two (but hey, no shame if you do). Similarly, you probably don’t know that there’s a difference between the two.

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10 min read

Why Technology Is No Longer an Option for CPAs

By Aaron Sullivan on Aug 20, 2019 6:50:04 PM

There’s that saying that we fear what we don’t understand, and for many experienced professionals—like CPAs who have been around since Intuit first hit the scene in the ’80s—technology is very intimidating.

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16 min read

How to Overcome Top NonProfit Financial Challenges

By Aaron Sullivan on Aug 15, 2019 9:37:00 AM

Shocker: No one enters the world of nonprofits to make big money. In fact, the average salary for an executive director position at a nonprofit is around $61k, which is barely above the average income for US workers ($59,039). But thankfully, working at a nonprofit is more than a salary—it can be rewarding beyond compare and a real way to effect change. They say money isn’t everything, right?!
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6 min read

What Does a Modern Bookkeeper Do?

By Jess King on Jul 23, 2019 2:26:48 PM

Bookkeeping…we’ve all heard of it, but what exactly is it? In simple terms, bookkeeping is defined as creating and maintaining the financial records and reports of a business. In short, bookkeepers take care of all the mundane tasks that are required to keep a business’ financial information in order. This includes making entries of financial transactions like accounts payables and receivables, payroll amounts, and petty expenditures. But it doesn’t end there.
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25 min read

Botkeeper vs. ScaleFactor vs. Pilot vs. Bench: Which Bookkeeping Software is Right for Your Business?

By Jess King on Jul 17, 2019 9:26:00 AM

Whether you run a startup company or manage a billion-dollar enterprise, bookkeeping is one of the most important tasks for any business. Business owners want (and need) to focus on their products and services as well as growing their company. But they also need to stay on top of bookkeeping tasks, which are tedious and time-consuming. Fortunately, there are lots of bookkeeping services available today that can help business owners streamline their bookkeeping tasks so they can focus on what matters.

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6 min read

7 Software Companies We're Keeping Our Bot Eyes On

By Aaron Sullivan on Jun 27, 2019 2:41:24 PM

We’re privileged to know and work with a lot of really cool businesses who are doing some amazing things in their own industries. Some are clients, some are friends, some are just names we know and respect, but they all have a common tie: they’re going places, and we’re keeping an eye on them.

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6 min read

13 Possibilities With Automated Bookkeeping

By Aaron Sullivan on Jun 20, 2019 4:29:59 PM

It's 2019, and we have machines to do nearly every awful task that we never wanted to do again...a dishwasher for our dishes, washing machine for smelly clothes, GPS for getting us anywhere, cars that drive and park themselves (also for getting us anywhere). But what about other terrible tasks? We're talking about things that would not only make our personal lives better, but also improve our professional lives.

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3 min read

How to Void a Check in QuickBooks Online

By Aaron Sullivan on Jun 6, 2019 12:49:12 PM

Ah, nuts. You realize you've written a check in the wrong amount, or you've sent it to the wrong vendor because you have so many to keep track of and sometimes things get mixed up. #smbproblems 

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3 min read

The Botkeeper Dashboard Just Got a Major Revamp

By Aaron Sullivan on May 21, 2019 10:02:00 AM

Some people might argue that the phrase “new and improved” is redundant—how can something be new if it’s just been improved? Likewise, how can it be improved if it’s brand new? To tell you the truth, we don’t really know, but we also think that’s okay since we’re techies and number crunchers first and foremost. We have no time for semantics—bookkeeping awaits!

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5 min read

How Outsourced Bookkeeping Saved Ovia Health $50,000

By Jess King on May 17, 2019 9:09:00 AM

When Your Needs Outgrow Your Tools

Ovia Health is doing big things for women and families, and they need support that enables them the ability to grow at any pace, anytime. As a health and tech company, Ovia Health is committed to transforming the way employers support working women and families along their parenthood journey, improving outcomes by providing daily personalized engagement, proactively identifying potential health risks, and supporting a successful return to work.

But in 2018, the small finance team at Ovia Health needed an upgrade. They were dealing with some common accounting shortcomings related to their accounting software, in particular limited automation capabilities. This meant that they were still having to do a lot of manual bookkeeping on a regular basis, leading to human errors and inconsistencies. 

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1 min read

Botkeeper CEO Tells Babson Built Podcast That Accounting Is the Absolute Worst

By Aaron Sullivan on May 3, 2019 10:27:25 AM

In March, Botkeeper founder and CEO Enrico Palmerino sat down and talked with the team at Babson Built, a podcast focusing on entrepreneurship from founder-alumni from Babson College. Enrico is a 2011 alumnus of Babson, having started multiple businesses during his tenure at Babson.

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6 min read

Gartner Says Botkeeper Is a "Cool Vendor," and We Tend to Agree

By Aaron Sullivan on Apr 30, 2019 10:22:00 AM

After many formative years building Erector Sets and solving Rubik's Cubes, we at Botkeeper are delighted to finally be recognized as “cool” by the global research and advisory firm Gartner! Although the designation might not pack the same social punch as it did in middle school, we’re honored to be listed in the “Cool Vendors” category of Artificial Intelligence for Small and Midsize Businesses.

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3 min read

How to Add Your Accountant to QuickBooks Online

By Aaron Sullivan on Apr 25, 2019 11:17:22 AM

Nobody likes going it alone, especially if whatever you’re trying to do leaves you feeling overwhelmed and incapable. But that’s why it’s good to ask for help from someone who knows what’s up, like inviting your accountant to your QuickBooks Online account so they can help with your bookkeeping.

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5 min read

How to Reconcile Accounts in QuickBooks Online

By Aaron Sullivan on Apr 18, 2019 2:04:22 PM

A fundamental piece of good bookkeeping is routine account reconciliation, the process in which you match up your transactions in QuickBooks Online (QBO) with your bank statement and credit card statements. In addition to being every amount of fun as it sounds, it’s a really helpful process to make sure that your bank accounts match up with your accounting system, and you’re not at risk of overspending based on what’s actually in the bank. It’s a similar process to balancing your checkbook.

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5 min read

What's the difference between AI and ML?

By Aaron Sullivan on Apr 12, 2019 8:56:00 AM

Artificial or augmented intelligence (AI) and machine learning (ML) have become hot topics in tech, business, and our everyday lives. In fact, a Google News search for the term “AI” returned 26.1 million results within the last 24 hours alone. That’s around 300 results per second!

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6 min read

9 Signs You Have a Bad Bookkeeper

By Aaron Sullivan on Apr 2, 2019 9:26:00 AM

Having a competent bookkeeper could be the difference between steering your business to new growth and letting it spiral out of control, like a helicopter crash in an action movie. Whether your bookkeeper is an accountant who’s been with the company for decades, or it's your retired mother-in-law (or both), you must have confidence that they’re doing their job well and with your company’s bottom line in mind. Their daily work could be what leads to cutting nonessential costs and increasing your margins.

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8 min read

Bookkeeping Meets AI: Trends and Predictions for the Future of Accounting

By Aaron Sullivan on Mar 28, 2019 11:01:02 AM

If you’re in the accounting profession, chances are you’re getting used to the integration of various forms of technology in the industry, including machine learning, cloud computing, and different forms of automation. Small and large accounting firms alike have begun recognizing the importance of automation as they move forward with modern-day trends in bookkeeping. Though the onset of artificial intelligence (AI) may bring up memories of sci-fi movies and rogue robots, companies are beginning to embrace the value AI brings to their processes, making them more efficient by shifting the allocation of mundane tasks to reduce human error. 

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8 min read

Bot Spotlight Client Series: Givinga

By Aaron Sullivan on Mar 14, 2019 8:51:00 AM

We recently chatted with Joe Phoenix, one of the cofounders of Givinga, a solution for amplifying the impact of corporate philanthropy. A text version of the interview follows, edited for clarity.

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5 min read

Everything Accountants Need to Know About QuickBooks Live Bookkeeping

By Aaron Sullivan on Feb 27, 2019 5:20:33 PM

Accountants and bookkeepers alike were surprised earlier this month when QuickBooks announced it now offers “Live Bookkeeping” with all plans ranging from Simple Start to Advanced. The page promised: “Get valuable insights from unlimited one-on-one conversations with an experienced bookkeeper that knows your business.” Of course, this made QuickBooks Certified Pros across the country do a double-take and say, “Hold up—what?!”

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4 min read

Use Botkeeper to Connect HubSpot with QuickBooks

By Aaron Sullivan on Feb 21, 2019 3:21:34 PM

Big news from Boston: if you use HubSpot, Botkeeper now has a must-use integration.

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6 min read

How to Get the Most Out of QuickBooks Online: 7 Tips

By Aaron Sullivan on Feb 19, 2019 2:30:08 PM

Whether you’re new to QuickBooks Online or a seasoned veteran using the software, you might not be getting the most value out of your subscription. Oftentimes, people overlook simple tips that could help them be more effective and efficient with their books, and that’s why we’ve pulled together a short list of tips for handling your books with QuickBooks Online (QBO).

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9 min read

Bot Spotlight Client Series: An Interview With ADcountants

By Aaron Sullivan on Feb 7, 2019 9:22:00 AM

This post is the first in the Bot Spotlight Series, where we sit down with different industry clients, experts, and influencers.

This month, we met with Tyler S. Clark, founder of ADcountants, to talk about advertising for accounting firms and the role of automation and machine learning in that space. An abridged Q&A follows, and the full video interview is included below.

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4 min read

501(c)(3) & Non-Profit Tax Filing Tips

By Aaron Sullivan on Feb 5, 2019 9:02:00 AM

Don’t freak out, but your non-profit tax filing deadline is quickly approaching. Individuals, businesses, and 501(c)(3) or charitable organizations will be required to file by the deadline required by their classification, and even though the tax filing deadline for most 501(c)(3)s is May 15, now is the time to start preparing.

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1 min read

Building a BotBrain: Free Ebook

By Aaron Sullivan on Jan 31, 2019 2:49:57 PM

Botkeeper CEO Enrico Palmerino presented to the Maryland Association of CPAs conference in December 2018, where he discussed how to build a botbrain for your own accounting practice. The full video is below, and you can download the accompanying ebook by clicking here.

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3 min read

Tips for Planning Your 2018 Tax Returns

By Jess King on Jan 29, 2019 9:38:00 AM

If you’re putting off planning for your 2018 tax return, you’re running out of time.

The opening of each new tax season starts toward the end of January. Last year’s tax season began on January 29th, and while we’re still waiting to hear on this year’s timeline, it’s never too early to start planning.

Of course, most businesses leave their tax filing to their in-house accountants or outsourced CPAs, but whether you’re having a professional do it, or you’re taking the DIY approach, it’s good to get a jump start on the process.

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3 min read

The 3 Major Differences Between Tax Filing and Tax Planning

By Jess King on Jan 22, 2019 9:32:00 AM

Just like there’s a really, really big difference between tax avoidance (lessening tax liability and legal) and tax evasion (the deliberate under- or nonpayment of taxes and criminal), there’s a big distinction between tax planning and tax filing. Unfortunately, if you’re like most people, it’s a distinction you’re not all that familiar with.

The short version goes something like this:

  • Tax filing is when you prepare and submit your tax return to the IRS by a determined deadline.

  • Tax planning is working with a financial professional to make sure you use the tax code to your greatest advantage.

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3 min read

Understanding Why Tax Planning Is a Vital Step for Small Businesses

By Jess King on Jan 15, 2019 9:28:00 AM

Though the deadline for filing your taxes may be months away, most small business experts agree: the two best times to get a jump on tax planning are “now” and “all the time.”

We know that isn’t always easy for an overworked, enterprising small business owner, but it’s crucial to your company’s growth and success to make tax planning and strategizing a year-round effort.

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7 min read

Tax Planning for Beginners: 6 Key Principles Explained

By Jess King on Jan 8, 2019 9:52:00 AM

Tax planning is, by definition, an assessment of your financial situation from a tax perspective for the purposes of reducing how much money you owe the government. Legally, of course. The goal is to take stock of the money you’ve made, and choose which financial choices will promote the most favorable tax treatment. You do this through proper planning, which includes strategizing, timing, leveraging tax advantageous vehicles (i.e., retirement plans), and more.

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5 min read

What is a 1099 form?

By Jess King on Dec 31, 2018 3:32:30 PM

Of all the tax forms you might see gracing your mailbox, one of the most varied has to be the 1099. The form itself is simple enough to understand—the 1099 records income given to you by any person or entity that isn’t your employer. You’ll see them most often from these folks:

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4 min read

AI Bookkeeping Startup Botkeeper Raises $18M Series A led by Greycroft

By Jess King on Nov 21, 2018 3:09:35 PM

Closing the books at the quarter end, managing invoices, and categorizing expenses involve a wide array of complex tasks that are both laborious and prone to human error. We at Botkeeper are automating bookkeeping workflows through our human-assisted AI platform, and today have announced our $18M series A round, one of the largest A rounds for a Boston tech company.

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4 min read

Cash vs Accrual Accounting

By Jess King on Nov 13, 2018 9:05:00 AM

If you’re in the process of launching a small business and haven’t yet filed your first tax return, you’re in the perfect position to determine which accounting method is best for you .

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8 min read

5 Ways to Completely Revamp Your Tax Planning

By Jeffrey Deslandes on Oct 23, 2018 4:51:40 PM

Tax planning and preparation is a highly complex process, but it can be broken down into a few distinct buckets and simplified to allow business owners to complete their part of the process. Here’s a breakdown of all the basics to ensure you get the most for your money in 2018: Estimating Taxable Income, Estimating Tax Liability & Tax Planning, Determining How You Need to File Your Taxes, Filling Out the Forms, and Sending Everything In.

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7 min read

Bookkeeping Basics For Small Business Owners

By Jess King on Oct 2, 2018 3:21:13 PM


Businesses of all sizes engage in bookkeeping activities, and it’s a vital function to keep your business financially stable and in compliance with regulations and tax law. It’s the cornerstone of continuity but one that’s not as exciting as marketing or sales. No business can survive without this key endeavor.

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4 min read

5 Ways to Banish Stress (and Be a More Effective Entrepreneur)

By Julie Morris on Sep 25, 2018 2:10:26 PM

As a small business owner, you’re surrounded by stress from morning to night (and even in your sleep). But there are ways to kill the killer of productivity and reclaim each day as a chance to make your mark in the world of entrepreneurship. Here are five ways to de-stress your days.

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4 min read

10 Minutes with TUGG

By Jess King on Aug 30, 2018 9:00:00 AM

We recently caught up with TUGG's New Executive Director, Mike Cole to discuss the amazing impact that TUGG has had on the New England Non-Profit Sector. TUGG (Technology Underwriting Greater Good) is the nonprofit arm of Boston’s tech community that connects New England's tech entrepreneurs with the riskiest social enterprises serving local under-resourced youth through entrepreneurial, educational, and life experiences. TUGG is one of the only funders of experimental youth programming in Boston. 

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4 min read

Choosing the Best Credit Card Processing Company

By Jess King on Aug 29, 2018 9:00:00 AM

Starting up a business can be very challenging, from setting up your day to day operations to choosing the best business strategy. After putting all these in place, one final hurdle you would face as a small business owner is choosing the right credit card processing company; a company appointed by a merchant to handle transactions from assorted channels such as credit cards and debit cards for merchant acquiring banks. For first-time business owners, sifting through so many processing companies (that are doing more or less the same thing) can be confusing. Don't worry, we've got you covered!

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5 min read

Kigo Saves 40% on Bookkeeping Services

By Jess King on Aug 9, 2018 12:44:40 PM

We recently had the pleasure of sitting down with Steve Hooper, Co-founder and CEO of Kigo Kitchen. Steve was kind enough to share a bit of his experience on bringing a new level of AI and automation into the organization by using Botkeeper.

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3 min read

What is a Chatbot — and How Can They Change the Way Businesses Run?

By Angelina DeLago on Aug 8, 2018 8:30:00 AM

Automation is changing the way business gets done online. Advanced software that only a few years ago would have been out of reach for most companies is now being widely adopted by businesses of all sizes. One great example? Chatbots.

Topics: Robots
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4 min read

Doing Your Tax Returns Late? These 4 Tips Can Help

By Angelina DeLago on Aug 2, 2018 9:01:00 AM

Good ol' tax time is going to come without fail, and in a perfect world you would be able to pay your business taxes on time, every time. When the due date rolls around, you’d simply transfer the money to the government and be done with it.


Of course, we don’t live in a perfect world. Instead, cash flow gets tight from time to time, different things get prioritized, and before you know it you’re paying your taxes late. Life happens, right? The best thing you can do is chart a path to get back on schedule as quickly as possible. Here are four simple tips to help you get back on track.

Topics: Taxes
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3 min read

5 Steps to Improve Cash Flow and Overcome Business Growth Plateaus

By Angelina DeLago on Jul 31, 2018 9:00:00 AM

 Cash flow is essential for the healthy growth of any business. Making sales and delivering your products or services to the customers is great, but it doesn’t amount to much if you don’t have money on-hand when you need it. A lot of small businesses end up taking out loans to cover short term revenue gaps, and end up paying out interest over time for that momentary need.

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3 min read

4 Reasons Why Outsourcing Your Bookkeeping Can Save You Time and Money

By Angelina DeLago on Jul 20, 2018 10:00:00 AM

For startups and small businesses, bookkeeping can be a real challenge. As an owner or manager, you’re faced with three options for accounting: do it yourself, have an employee do it, or let a third party take care of it.

Topics: Bookkeeping
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5 min read

5 Bookkeeping Nightmares and How to Avoid Them

By Jess King on Jul 17, 2018 10:47:21 AM

As a small business owner, you’re often managing several different areas of your business- and bookkeeping is one of the most important. 

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3 min read

3 Approaches to Bookkeeping: Tips and Tricks to Help You Become a Pro

By Angelina DeLago on Jul 10, 2018 10:00:00 AM

Starting a business? You might find accounting to be the scariest piece of the puzzle.

Bookkeeping requires learning a whole new language that’s unfamiliar to most people. With any luck, sales receipts will start piling up soon, right next to the pay stubs and tax filings. You need to get your bookkeeping rolling — and fast!

Thankfully, there are several options available for smart business owners. Here are three popular choices:

Topics: Bookkeeping
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4 min read

Four Signs that Your Bookkeeper is Stealing from You

By Angelina DeLago on Jul 9, 2018 12:52:00 PM

Theft, fraud, embezzlement, thieving, larceny, appropriation, swindling—have you been hearing a lot of these terms lately? Sadly, a quick glance at any major news outlet will show you that bookkeeper theft has been rampant this past year, resulting in dozens of cases of fraud. The idea of a bookkeeper stealing money from you is almost inconceivable for many business owners. After all, you probably have a personal relationship with this person. You've trusted them to watch over the single most important part of your business. If money is going ‘out the back door’ due to bookkeeper theft, you will have very little chance of success in the long term. Unfortunately, this kind of theft is something that happens from time to time, so you need to pay close attention to make sure you don’t become a victim. Do you know what to look for? Here are 4 signs that can help you determine if your bookkeeper is stealing from you...

Topics: Bookkeeping
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6 min read

Discover How Important Revenue Recognition Is For Accounting

By Angelina DeLago on Jul 6, 2018 9:30:00 AM

You have a lot going on when operating a small business—and handling your bookkeeping generally isn't the sexiest on the list. Why should you be concerned with mastering even the most basic accounting principles when you have sales to close, a website to market, and customers to please? 

Well, in theory, sure. But having an understanding of basic accounting principles—or at least the big ones—will ensure you don't jeopardize your business. Although the future of accounting appears to include a lot of machine learning and automation, some of the fundamentals should still be something you aim to understand. 

Topics: Bookkeeping
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3 min read

Botkeeper Launches Intello Integration to Help SMBs Save Money

By Jess King on Jun 28, 2018 9:00:00 AM

 

The SaaS space is growing like crazy. Today’s business owner has numerous software applications built into their company framework, and is getting a ton of emails every day with the promise of the bigger better option. But how do you even know if you’re getting the most bang for your buck when it comes to your software spend? Are your employees using the tools you've invested in? What are your employees even signing up for? Should you be evaluating competitive vendors? When are all of your contracts up? Which new evaluations are worth your time?  

 

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3 min read

Botkeeper Named Red Herring North America Top 100 Award Winner!

By David Powers on Jun 27, 2018 12:43:10 PM

 

Botkeeper named top 100 Award Winner!

Today it was announced that botkeeper has been named a winner of Red Herring's Top 100 North America 2018 award, which highlights the continent's most exciting and innovative private technology companies!

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2 min read

5 Reasons You Should Invest in Online Bookkeeping Services for Hire

By Gemma Reeves on Jun 21, 2018 11:00:00 AM

Artificial Intelligence (AI) is poised to be the next big thing in technology. Several companies and startups are now developing AI to further advance the medical, marketing, accounting and communications field. Smarter virtual assistants such as Siri and Alexa were made possible - all thanks to the development of AI.

Since more companies now delve into the development of AI (to be used in different fields), investors are positive that the industry holds a lot of promise. But aside from venture capitalists, and individual investors, companies (especially startups) are also encouraged to make use of AI services as early as possible. 

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2 min read

Botkeeper is a Finalist for the 2018 Red Herring Top 100 North America Award!

By Jess King on Jun 20, 2018 8:30:00 AM

We're proud to announce this week that botkeeper has been selected as a finalist for Red Herring's Top 100 North America award, a prestigious list honoring the year’s most promising private technology ventures from the North American business region!


The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across North America. The nominees are evaluated on 20 main quantitative and qualitative criterion, which include disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy, and integration into their respective industries.

 

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4 min read

How to Cut Accounting Costs by 50% with Automation- A Case Study

By Jess King on Jun 18, 2018 3:31:57 PM

cut accounting costs

We recently had the pleasure of sitting down with Theodora Higginson Hanna, Co-Executive Director of Tech Goes Home out of Boston. Theodora (Theo) was kind enough to share a bit of her experience with bringing a new level of AI and automation into the organization by using botkeeper.

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3 min read

The Cost of Bad Bookkeeping

By Jess King on Jun 15, 2018 9:00:00 AM

Bookkeeping. An often overlooked area in the business- and yet, it can dramatically affect the success or failure of the organization. Most business owners tend to back burner the accounting in lieu of the “here and now” items - such as sales, marketing, meetings, etc… and because of procrastination or lack of insight, some organizations suffer because of those mis-managed books.

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2 min read

The Rise of bots – and How Automation Will Reshape The Way You Work

By Jess King on Jun 14, 2018 12:10:00 PM

Large corporations have been exploring automation, cloud computing, machine learning, and AI for years. Today, an amazing 80% of companies big and small are making the investment in these technologies. And impressive growth awaits the companies that are able to leverage these emerging technologies. Are you ready?

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5 min read

5 Things That Start-Up Owners Wish They Knew Before They Started

By Jess King on Jun 11, 2018 12:02:01 PM

It’s true that most startups fail – up to 90% of them say the experts. Yet, many of the people involved in those failures do go on to launch successful companies. And yes, some have dropped out of university, slept in their cars, and have eaten mac and cheese for years before realizing success, but most success stories feature elements of tenacity, creativity, and going the extra mile.

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3 min read

5 Keys to Spotting Accounting Fraud in Your Books

By Jess King on Jun 5, 2018 9:00:00 AM

Is your accountant stealing from you? You can call it robbery, pilfering, or swindling, too, but theft or misappropriation of business funds placed in trust with someone you believed to be a professional can be personally and financially devastating.

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6 min read

Interview with Brian Moran

By David Powers on May 30, 2018 10:44:24 AM

We recently caught up with SmallBusinessEdge's Brian Moran to discuss the current small business landscape.

For more than 20 years, Brian has dedicated his considerable business acumen to helping small business owners and entrepreneurs run better businesses. A nationally-recognized expert, Brian has been named among the top 100 SMB Influencers in the country by both Small Business Trends & Small Biz Technology. Brian’s passion for business ownership was spawned from his publishing experience with such titles as The Wall Street Journal, Inc., Success, and Entrepreneur.

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3 min read

Making Sense out of Managing Employee Benefits and Taxes

By Jess King on May 29, 2018 4:58:33 PM

The reality of owning a business is that a good portion of the day-to-day operation is spent on organizing, recording, and staying up-to-date on employee pay, benefits, taxes, and other issues. And as your business grows, so does the paperwork burden. 

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3 min read

3 Best Practices for Sustainable Growth of Your Startup

By Jess King on May 29, 2018 9:00:00 AM

One of the biggest challenges for startup owners isn’t getting the enterprise off the ground—it’s building sustainable growth that sets the company up for future success. The entrepreneurial boom is occurring across the world, and there are more startups than ever competing for limited consumer markets. Add in the volatility of the economy and unpredictable speedbumps in the startup’s growth and keeping the ship afloat becomes a challenging proposition indeed.

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2 min read

Announcing ScanBot for IOS and Android

By Jess King on May 23, 2018 10:30:00 AM

 

As a business owner, your work isn't going to come to a halt when you have to step away from your office. Part of running the business requires that you keep your documents together, and get them over to your bookkeeper without letting things pile up- but when you're running to meetings, taking clients for coffee, or simply moving from one place to another- the dreaded pile of paperwork begins to form. 

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3 min read

Should I Upgrade my Accounting Software?

By Jess King on May 22, 2018 2:13:09 PM

Most of what you read on bookkeeping discuss the benefits (and necessity) of accounting software for your business. But while it’s true there are many upsides to the technology, an accounting software package isn’t always the best idea. Here are just a few reasons why.

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4 min read

Tracking the SaaS Metrics That Really Matter

By Jess King on May 22, 2018 9:01:00 AM

SaaS companies face a unique set of challenges compared to the typical business.

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3 min read

Which Type of Financing is Right For Your Startup?

By Jess King on May 21, 2018 2:20:34 PM

When the average person imagines an entrepreneur, they likely envision the most popular and successful thought leaders of our time—Steve Jobs, Elon Musk, and other visionaries that have redefined our culture. They don’t image the entrepreneur as a cash-strapped professional sweating over spreadsheets and laying awake at night wondering what the next day will bring.

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2 min read

How to Make Outsourcing Your Books Even Easier

By Jess King on May 18, 2018 4:31:04 PM

No one starts their business thinking “I can’t wait to do the books!” But financial statements and spreadsheets are a necessary element of business life – and someone must do them. If you prefer being free of day-to-day accounting tasks, outsourcing your books is a great solution.

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2 min read

Grow Your Business: Why You Should Always Start With Your Books

By Jess King on May 14, 2018 1:45:00 PM

There are many ways to grow a business. In 2013, small bakery owner Dominique Ansel combined his beloved French croissant with America’s donuts craze and 5 years later, hundreds of people still line up before 8am to buy a "Cronut". Spherical droid BB-8 creator "Sphero" used a Snapchat global marketing campaign to double their sales record. And eight friends from Chicago took "Cards Against Humanity" from a small crowdfunded idea to a multimillion-dollar business.  

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2 min read

Finding the Best Accounting Software for Your Small Business

By Jess King on May 11, 2018 1:31:28 PM

For small business owners, accounting can literally be a drag – on your productivity, time, and general sense of well-being. If you’re still using paper receipts and Excel spreadsheets for bookkeeping, there is a better way. Finding the best accounting software for your small business is easy if you start by asking a few simple questions:

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2 min read

How Accurate is Your Bookkeeping: What You Don't Know Can Hurt You

By Jess King on May 2, 2018 7:08:25 PM

Inaccurate financial reporting not only causes internal headaches, it can bring on mind-splitting migraines come tax time, or when you’re looking for outside investment. From misclassification of capital assets to misreported startup costs, there are dozens of ways to miscalculate income and expenses.

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3 min read

Botkeeper Named American Business Awards Tech Start-up of the Year!

By Jess King on May 2, 2018 1:01:25 PM

 

botkeeper named Tech Start-Up of the Year!

Today it was announced that botkeeper has been named the winner of the Gold Stevie® Award in the Tech Start-up of the Year category of the 16th Annual American Business Awards®!

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2 min read

5 Ways to Avoid Bookkeeping Mistakes

By Jess King on May 1, 2018 4:58:52 PM

It’s a necessary evil and a key component to your success. No one wants to spend their time doing it, but everyone knows procrastination isn’t an option. Bookkeeping! It isn’t a glamorous task but mess it up and you can really hurt your company’s bottom line.

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3 min read

4 Times Accounting Mistakes Cost Big Companies Big Money

By Jess King on Apr 27, 2018 12:43:31 PM

You’d think a degree in accounting and finance would be a requirement to help run a big company, especially as errors in financial spreadsheets can put millions of dollars at risk for these organizations. But if the four cautionary tales below are an example of how it’s normally done, it might seem that a degree isn’t required at all.

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2 min read

Introduction to Small Business Payroll

By Jess King on Apr 27, 2018 9:00:00 AM

Imputed pay, exempt or non-exempt, off-cycle, pre-tax deductions, not to mention FICA, ACA, EIN, and FUTA...

You shouldn’t need to hold a PhD in economics to understand small business payroll!

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2 min read

Key Ways to Reduce Your Accounting Costs

By Jess King on Apr 26, 2018 10:28:14 PM

Reducing operating costs can be a smart way to run a lean efficient small business. If you struggle with spreadsheets, invoicing, accounting, and tax reporting issues, it’s worth looking at reducing your organization’s accounting costs.

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7 min read

Stanton Schwartz Design: Making Every House Feel Like a Home

By David Powers on Mar 21, 2018 9:05:45 PM

Jessica Schwartz and Ryan Stanton—founders of Stanton Schwartz Design.

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3 min read

Aunt Dottie's and Jenny's Gourmet Foods: Because Healthy Food Should Be Delicious!

By Thalia Arazas on Mar 7, 2018 6:00:00 AM

This week's Startup Spotlight showcases Jenny Cawthon of Jenny's Gourmet Foods and Aunt Dottie's Founder and President.

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4 min read

SmallBizTrends.com: Interview with Anita Campbell

By David Powers on Feb 15, 2018 6:30:00 AM

We recently spoke to Anita Campbell, CEO of the award-winning Small Business Trends portal. Since 2003, Campbell's site has been a "go to" resource for breaking news and advice for small business owners.

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2 min read

This just in...

By David Powers on Feb 8, 2018 7:30:00 AM

Just out is a supplement to the latest edition of the J.K. Lasser's Small Business Taxes 2018: Your Complete Guide to a Better Bottom Line.

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5 min read

One Nine Pro: Elevating Your Brand to Next-Level Success

By Sample HubSpot User on Feb 5, 2018 7:00:00 AM

For this installment of our Startup Spotlight series, we’re checking in with our friend Luke Seavers. As the founder of the Charleston, SC-based branding and web design company One Nine Pro, Seavers is an expert in music production, graphic design, branding, web development, and publishing consulting.

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3 min read

Bookkeeping Comes Of Age

By Enrico Palmerino on Jan 25, 2018 7:00:00 AM

We are excited to announce a $4.5 million Seed round led by Ignition Partners.

 

In addition to Ignition, we are pleased to have a list of truly premier funding partners join what turned out to be an oversubscribed capital-raising event. These include former Microsoft CFO 

Topics: News Startups
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3 min read

adopets: Every Pet’s Bestfriend

By Thalia Arazas on Jan 12, 2018 8:00:00 AM

Today, we welcome adopets in this week’s Startup Spotlight! This application had collaborated with shelters and rescues in managing pet adoptions and making sure people will be able to connect to their new best friends and to save as many lives as possible.

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4 min read

IQ Bar: Stay sharp with these 'Brain Snacks' now!

By Thalia Arazas on Jan 5, 2018 8:00:00 AM

Starring in this week's Startup Spotlight is our friend, Will Nitze (Founder of IQ Bar). He will share with us how his business started and his mission to fuel and fortify everyone's brains through smarter snacks.

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3 min read

Miracle Messages: Record, Deliver, Reunite!

By Thalia Arazas on Dec 21, 2017 8:00:00 AM

For this week's Startup Spotlight, here is our friend, Kevin Adler Founder and CEO of Miracle Messages, who would like to help individuals that are experiencing homelessness reconnect with their long-lost loved ones.

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5 min read

Nibble Snack Shop: Snacking as it should be!

By Thalia Arazas on Nov 22, 2017 8:00:00 AM

Let’s have a quick chat with Joyce Lee (Founder of Nibble) for this week’s Startup Spotlight. Nibble Snack Shop is a Boston-based retail startup that looks coast-to-coast to find the tastiest snacks and brings them all together in one place.

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3 min read

QuickBooks Online Tutorial: How to Receive Payments

By Thalia Arazas on Oct 12, 2017 8:00:00 AM

Receiving payments in QuickBooks Online helps maintain an accurate accounts receivable balanced. When a payment is entered into QuickBooks, the accounts and financial statements are affected.

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4 min read

QuickBooks Online Tutorial: How to Create an Invoice

By Thalia Arazas on Oct 12, 2017 8:00:00 AM

Invoices are a culturally acceptable way of asking for payment. After you set up your customers, let’s create invoices.

There are two options from where you can create an invoice using QuickBooks Online: on the >homescreen or from the customer centre.

 

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11 min read

QuickBooks Online Tutorial: How to Add Customers

By Thalia Arazas on Oct 12, 2017 8:00:00 AM

The success of every business enterprise depends on a comprehensive strategic planning that covers all the aspects of operations, from gaining a client to accounting tools used in gauging success in return of investments. Some companies have experienced great loss, because they’ve missed to constantly keeping a closed-loop operation.
 
"Customers are the lifeblood of every business,"  therefore, keeping track of them must be the top priority.  QuickBooks Online is designed to see how the business is doing and keeps it updated with their customers. The following are the steps on how to set up customers using QBO Software:
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7 min read

Deep Core Data: IT Experts That Are Far From Generic

By Angelina DeLago on Sep 14, 2017 8:57:10 AM

Our friends at Deep Core Data are definitely not the expected IT experts. They differentiate and pride themselves on being "human-focused IT experts" by approaching companies from a person-first, technology-second mindset instead of the common reverse path. Rhiannon Chiacchiaro, Director of Technical Business Development, gave us the scoop. Read on to learn more! 

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5 min read

How to Save $ With Online Bill Pay Services

By Angelina DeLago on Aug 31, 2017 10:38:17 AM

If you’ve ever paid a bill by visiting your account on the website of the service (such as paying your Netflix bill on the Netflix website), then you may be annoyed by bills that don’t have a website or app where you can quickly pay as you go. Businesses often acquire bills that can’t be paid over the Internet or via phone, and that means that you’ll have to spend some time filling out and mailing checks at least occasionally.

Topics: Bookkeeping
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7 min read

SoFriendly: Entrepreneurs Building Innovative Products

By Angelina DeLago on Aug 24, 2017 8:15:26 AM

Featured in this week’s startup spotlight is SoFriendly, a group of entrepreneurs that build one-of-a-kind apps. Justin Mitchell (Creative Director and Product Maker) and Jordan Walker (Marketing Director) have become close friends of botkeeper and shared the story of SoFriendly. Check it out in the below Q&A with Justin.

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6 min read

QuickBooks Online Tutorial: Bank Feeds, Adding & Matching Transactions

By Angelina DeLago on Aug 3, 2017 9:47:16 AM

Another important process in QuickBooks Online is setting up bank feeds. It's good that your here because we are going to walk you through how to do just that in this QuickBooks Online tutorial. But first, we are going to go through the benefits of bank feeds! 

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4 min read

Moisan Legal: Changing The Way We Think About Law

By Angelina DeLago on Jul 27, 2017 8:13:20 AM

Friends of ours at Moisan Legal are doing things differently. Not only have they broken out of the lawyer/law firm stereotype, but they are actively helping entrepreneurs and growth stage companies in more than one way. Learn more about Matthew Moisan and how they are "redefining the practice of law" in this botkeeper startup spotlight!

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10 min read

QuickBooks Online Tutorial: Setting up recurring transactions 

By Angelina DeLago on Jul 6, 2017 8:26:42 AM

Do you know how to set up templates for different recurring transactions in QuickBooks Online? If you don't, don't sweat it! We are here to help and are going to walk you through it.

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7 min read

MarketMuse: A Machine Learning Optimized Approach To Content

By Angelina DeLago on Jun 29, 2017 10:29:27 AM

Our friends at MarketMuse, a valued client of ours, are doing something that doesn't exist anywhere else. Aki Balogh, Co-Founder and CEO at MarketMuse with a background in machine learning, saw an opportunity to bring big data and machine learning to content marketing. He seized the opportunity and made something spectacular. We are thrilled to share their story so read on!

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5 min read

3 Great Techniques for Your Financial Statement Analysis

By Angelina DeLago on Jun 8, 2017 10:14:21 AM

It is always a great time for analyzing financials statements, to get a feel for just how well your company performed in the past year.

While “financial statement analysis” sounds a bit intimidating, it really just means looking over the company’s financial reports to get a sense of how well – or how badly – the company performed over a period of time. To do this, there are many methods of analysis that accountants use.

Topics: Bookkeeping
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6 min read

Barrel House Z - Boston's Best Barrel Aged Beer

By Angelina DeLago on May 30, 2017 10:51:06 AM

Are you a beer enthusiast? Do you appreciate or have a love for barrel aged beer? Well, we have found the spot for you! Russell Heissner, Founder of Barrel House Z,  began his brewing adventure in '86 as Harpoon's head brewer and now brews one-of-a-kind barrel aged beer right in Weymouth, MA. Here is his story:

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5 min read

QuickBooks Online Tutorial: Products and Services

By Angelina DeLago on May 25, 2017 9:31:47 AM

We are back with a QuickBooks tutorial and this one is on setting up different products and services.

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5 min read

A New, Stress-Free Solution for Getting Unique Audio Content

By Angelina DeLago on May 18, 2017 9:13:30 AM

If you are a business looking for sounds or audio content, stop spending hours shuffling through stock music libraries. Instead, choose Vinylmint. Post what you want, your budget, and your timeline and the music will come to you! We had a great chat with Byron Morgan, Founder of Vinylmint, about how his platform helps both the composers/producers and the buyers.

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5 min read

QuickBooks Online Tutorial: Chart of Accounts

By Angelina DeLago on Apr 27, 2017 10:42:13 AM

We're here with another tutorial on how to best use Quickbooks for your business

 

This post quickly outlines how to manage your Chart of Accounts in QB Online!

 

What is a Chart of Accounts?

 

A chart of accounts (COA) is a financial organizational tool that provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue, and expense.

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7 min read

9 Must-Get Apps for Your Small Business Bookkeeping

By Angelina DeLago on Mar 30, 2017 8:21:08 AM

Owning a small business means taking care of everything on your own in many cases. Hiring more employees can often come with added chores if you can afford it at all. And while accounting is no one’s favorite task, it is absolutely essential that it be done correctly. This is why many small business owners turn to apps that allow them to keep up with bookkeeping on the go. When you can enter transactions as they happen, you cut down on the amount of time you have to spend bent over paperwork in the future.

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4 min read

Solving Neglected Health Issues In A Low-Tech, High Impact Way

By Angelina DeLago on Mar 16, 2017 9:26:16 AM

We have recently been introduced to Amanda Zieselman, Executive Director & Co-Founder of Health Advocacy Innovations, Inc. Health Advocacy Innovations is a global health nonprofit that focuses on solving neglected health issues in a low-tech, high-impact way. Currently, they are tackling a gap in pediatric multidrug-resistant tuberculosis treatment. We were very pleased to interview Amanda and learn more about her company and what they are accomplishing.

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6 min read

QuickBooks Online Tutorial: Add A New User and Invite Your Accountant

By Angelina DeLago on Mar 9, 2017 9:35:35 AM

Whether you are interested in QuickBooks Online and want an idea of how it works or you have an account and need help through the motions, we’re here to help! Here is another tutorial on adding new users, the different types of users and permissions, and inviting your accountant.

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7 min read

Booking a Professional Photographer Just Got Easy, Affordable, and Stress Free

By Angelina DeLago on Mar 2, 2017 10:38:26 AM

Pretty Instant takes the stress, waiting, worrying and searching out of booking the best photographer for your event. Doesn't that sound pretty awesome? Well, it is. Not only are they a rockstar company but they are also a valued client of ours. Ben Maitland-Lewis, Founder and CEO of Pretty Instant, spoke to us more about the business and how it started in this Q&A.

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1 min read

The Definitive Guide to Small Business Expenses

By Angelina DeLago on Feb 23, 2017 9:20:48 AM

One of the first things that you’ll discover when you start a small business is just how much everything costs. From paying bills to stocking product or funding services, the expenses of running a business can be endless – and a little shocking. Fortunately (or not), not everything that you pay for is considered an “expense” in the world of finance. And those that are, can help you cut down your tax bill considerably if accounted correctly. Since every business owner knows that the number one rule of owning a business is not to mess with the IRS, it’s important to understand expenses and how to account for them early on.

  

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3 min read

Bookkeeping for Startups 106: 5 Tips to Get Ahead on Your Taxes

By Angelina DeLago on Feb 16, 2017 9:22:49 AM

Bookkeeping for Startups: 106

Nobody likes taxes. It would be hard to imagine a business owner or manager who looks forward to paying taxes – even though we all understand why they are necessary. If you are anything like other business owners, you probably mark out the days that tax payments are due on your calendar, and then you do your best not to think about it for the rest of the year.

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5 min read

ASTE Takes The Risk Out Of Asterisk and Online Dating

By Angelina DeLago on Feb 9, 2017 10:01:10 AM

Are you ready to date smarter and safer? Julie Nashawaty, Founder and CEO of Aste, has saved herself and many others from going on dates with the wrong people. Learn more about her and Aste in this startup spotlight!

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6 min read

QuickBooks Online Tutorial: Choose The Best Plan For Your Business

By Angelina DeLago on Feb 2, 2017 9:05:07 AM

So you are planning to use QuickBooks Online. Nice choice! You may be aware, but let’s recap some of the benefits of using QuickBooks Online.

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5 min read

Discover EOS & Gain Traction With Cultivate

By Angelina DeLago on Jan 26, 2017 10:42:13 AM

Featured in this week's client spotlight is Nate Wolfson, founder of Cultivate, who has dedicated his career to helping entrepreneurs get the most out of their business.  As a Certified EOS (Entrepreneurial Operating System) Implementer and lifelong, successful entrepreneur, Nate is "one of only 100 carefully selected, continually trained Professional EOS Implementers around the world—and just the second in New England". Get to know him and Cultivate better with the following Q&A!

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5 min read

5 Things to Know About Your 1099 Form

By Angelina DeLago on Jan 19, 2017 8:16:02 AM

If you are a self-employed contractor or freelancer, and you earned more than $600 from a client in the past year, you’ll be receiving a 1099 tax form from them this tax season. Likewise, if you own a business and paid an independent contractor more than $600 in the past year, you’ll have to send them a 1099 form, and report it to the IRS. These forms aren’t anyone’s favorite thing to receive, but with more and more workers turning to freelance work, they are increasingly common.

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5 min read

Fortified Bike Is Conquering The City, One Bike At A Time

By Angelina DeLago on Jan 12, 2017 8:29:33 AM

Bike theft is a major, unrecognized issue but one that our valued client, Fortified Bike, is tackling. In addition to creating theft proof bikes and bike accessories, they have also teamed up with Boston police to catch bike thieves. We caught Tivan Amour, CEO at Fortified Bike, at the start of a “reconnaissance mission” to recover a stolen bike for one of Fortified’s customers.

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5 min read

Shoobx : The Modern Way for Startups to Manage Legal Complexity

By Angelina DeLago on Nov 3, 2016 7:56:12 AM

Entrepreneurs are constantly working to better their business and grow their company. Their knowledge is spread wide and they usually wear multiple hats, all of which helps with the long list of decisions to make. This is usually fine because in most instances if you don’t know how to do something, you can usually find out on your own. When it comes to the legal aspect, this is not always the case. A lot of legal information online cannot be trusted and lawyer fees are so expensive. This creates a gap between what these entrepreneurs know and what lawyers are willing to teach for free. Shoobx has found a solution to bridge this gap.

 

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2 min read

The Impact of Hawaii's New Overtime Law

By Angelina DeLago on Oct 27, 2016 8:47:55 AM

There has been a change to overtime rules in Hawaii, officially issued on May 18th. Employees are no longer exempt from overtime pay unless they have an annual pay of $47,476, which is double the previous $23,660 and is the “single-biggest increase in 40 years”. To prevent issues that come with inflation, this modification will be introduced as an automatic 3-year increase to this threshold.

Topics: Bookkeeping
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3 min read

Tips on Non-Profit Taxes and Reports

By Angelina DeLago on Oct 13, 2016 9:13:44 AM

Running a non-profit organization is a rewarding opportunity. Not only do you get to apply your skills and experience in the ‘real world’, you also get to work for an organization that is serving a greater cause. If you want to be able to feel good about what you have done at the end of each day, starting a non-profit organization is a great idea.

Topics: Taxes
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3 min read

Bookkeeping for Startups 105: What Are Your Statements Telling You?

By Angelina DeLago on Sep 29, 2016 9:33:56 AM

Bookkeeping for Startups 105

The ability to read financial statements is important to any business owner. Yet, many might as well be looking at a foreign language when they are presented with accounting numbers. If you can take the time to learn how to read your financial statements correctly, you will have a much better understanding of what is going on in your startup. You don’t have to become a CPA to read a financial statement, either. Just knowing what to look for will take you a long way.

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4 min read

Bookkeeping for Startups 104: 11 Finance Tips That Bring Success

By Angelina DeLago on Sep 15, 2016 8:55:13 AM

Bookkeeping for Startups 104

As the owner of a startup, you are going to get advice from every possible direction. From college friends to your business partners to your mom, everyone is going to want to offer you a quick tip or idea. While these people mean well, it is possible to have too much input in some cases. You likely have a clear picture of where you would like to go with your company, and it will be up to you to make that vision a reality.

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2 min read

The Robot That Does The Weeding For You

By Angelina DeLago on Sep 1, 2016 7:38:48 AM

Having a garden is fun and relaxing. Whether it’s a flower garden or vegetable garden, it brings beauty and peace to your world. The major pain point of having one, though, is tending to it - aka pulling weeds. Well, what if I said you didn’t have to weed anymore?

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2 min read

Disruption Is Imminent: Automated Accounting

By Angelina DeLago on Aug 31, 2016 8:14:02 AM

Accounting, at the end of the day, is about just one thing – accurate information. When accounting – and the bookkeeping that supports it – offers accurate information, it is doing its job. Businesses rely on accurate accounting in order to make smart decisions, pay the proper amount of tax, track progress, and much more. Simply put, it would be nearly impossible to run a successful business without an accurate and reliable accounting department.

Topics: Bookkeeping
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5 min read

Bookkeeping for Startups 103: 9 Most Common Mistakes

By Angelina DeLago on Aug 19, 2016 10:34:43 PM

Bookkeeping for Startups 103

Mistakes will be made when you are getting your first startup off the ground. There are going to be errors, whether it be in product planning, hiring, or anything else that you have to do. In fact, the mistakes are part of the ‘charm’ of this endeavor – you learn as you go, and you constantly improve. That is the goal of the startup owner, to learn as you go, and that idea certainly applies to bookkeeping.

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1 min read

Pokemon Go: When You Gotta Catch Em All...

By Angelina DeLago on Aug 9, 2016 7:48:42 AM

As fellow Pokemon Go players, the botkeeper team understands the urge to try to catch the botkeeper bot. With a Pokemon Power of "Accurate, automated bookkeeping at unbeatable prices", how could you resist!

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4 min read

Bookkeeping for Startups 102: 10 Things to Get You On Track

By Angelina DeLago on Aug 4, 2016 8:33:17 AM

Bookkeeping for Startups 102

One of the first systems you need to put in place for your startup is the bookkeeping. Without keeping accurate records of the financial transactions that are taking place in your business, you will be destined to fail. Everything from paying taxes to making smart decisions for your company depends on having accurate books. This is an issue that can’t be ignored.

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2 min read

Google AI Defeats Korean Legend In Go Battle

By Angelina DeLago on Jul 21, 2016 10:07:46 AM

No, I am not talking about Pokemon Go. Sorry to those following the new flavor of the week. I am talking about the game ‘Go’, which originated in ancient China. It is a strategic, two-player game with the goal to get the most territory over your opponent.

Topics: Robots
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2 min read

SCALE: Are You Running Your Business or is It Running You?

By Angelina DeLago on Jul 14, 2016 8:26:30 AM

Get A Grip On your Business With Nate Wolfson:

Are You Running Your Business or is It Running You?

August 11, 6-8pm @ WeWork South Station

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3 min read

Bookkeeping For Startups 101: Starting With The Basics

By Angelina DeLago on Jul 7, 2016 9:04:50 AM

Bookkeeping for Startups 101

Launching your own startup is an exciting, and scary, venture. Sure, you have dreams of taking your product or service to the masses and making millions of dollars, but the reality of the path between here and there is truly daunting. There will be countless hours of sweat and tears that have to go into your business before you start to sniff success. Most agree that this investment of time and effort is worth it, but a startup is not something to be taken lightly.

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2 min read

Avoid Playing Catch-Up with These Daily-Do’s for Bookkeeping

By Angelina DeLago on Jun 30, 2016 8:58:54 AM

Bookkeeping is a never-ending chore. Just when you think you have a handle on this responsibility, you fall behind for a day or two and the paperwork piles up all over again. Those who are going to stay on top of their finances are those dedicated to this important task each day.

Topics: Bookkeeping
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2 min read

Liability + Equity = Robots?

By Angelina DeLago on Jun 23, 2016 9:01:50 AM

One of the first things you will learn in the world of accounting is the basic accounting equation. This equation is simply 'Assets = Liabilities + Equity". Assets refer to things owed by a company, such as cash, receivables, inventory, and more. Liabilities are things owed, like loans, payroll, etc. Equity, then, is basically what is left over. Hopefully, the assets will outweigh the liabilities, and equity will be a positive number rather than a negative one.

Topics: Bookkeeping
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3 min read

Recording Revenue In QuickBooks

By Angelina DeLago on Jun 16, 2016 10:04:58 AM

QuickBooks is one of the most-popular pieces of accounting software in the world and for good reason. For small business owners, QuickBooks provides a powerful platform without the expense of systems that intended for larger corporations. Even with a formal accounting education, most people can learn how to use the basic functions of QuickBooks within a short period of time. Also, thanks to the popularity of this software, it is easy to find people who are familiar with QuickBooks if you need help.

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1 min read

8 Ways To Benefit From Your Accounting Software

By Angelina DeLago on Jun 9, 2016 9:24:23 AM

Get the most out of your accounting software! Check out our infographic and learn about some of the major benefits you could be taking advantage of. Simply fill out the form below and you will be on your way to using your software to further streamline your business.

Topics: Infographics
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2 min read

5 Ways to Make Your Small Business Bookkeeping Efficient

By Angelina DeLago on Jun 2, 2016 9:21:41 AM

Efficiency and success in business are closely related. If you run your business in an efficient manner, there is a good chance you will be successful. If you are inefficient, another business will likely run you over before you even know what happened. Success is difficult to achieve in any competitive marketplace, so you must make the most of every opportunity you encounter.

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2 min read

SCALE: Solutions To The Puzzle Of Change Management

By Angelina DeLago on May 25, 2016 5:39:21 PM

botkeeper is hosting its second event of the workshop series, SCALE, solving the puzzle of change management for growth.

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1 min read

10 Services Every Startup Needs To Succeed According to Inc.

By Angelina DeLago on May 12, 2016 9:56:01 AM

According to Inc. Magazine, botkeeper has been named one of the “10 Products and Services Startups Need to Succeed”.

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1 min read

SCALE: Bookkeeping Tips, Tech, and Things To Avoid

By Angelina DeLago on May 10, 2016 8:17:53 AM

botkeeper is launching it’s first educational series, SCALE, on May 18th at The Dugout at WeWork Fort Point! We’re kicking off our first event with what we do best: bookkeeping and accounting. Although it is not always fun and exciting to do, it certainly is a necessity for all businesses.

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1 min read

Dorm Room CEO Changes Haiti Schools

By Angelina DeLago on May 5, 2016 8:35:40 AM

From the dorm room to global business, our client Hanson Grant, CEO of Think Board, is revolutionizing the classrooms in Haiti. What began as a solution to his own problem has also become one that schools around the world are seeking.

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1 min read

The bot made it to YouTube

By Angelina DeLago on Apr 14, 2016 10:39:51 AM

We have great news! botkeeper has just launched it’s YouTube channel here.

Topics: News
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1 min read

5 Things To Know About Growth And Getting A Line Of Credit

By Angelina DeLago on Mar 28, 2016 9:23:55 PM

During a period of profitable growth, a cash squeeze is a common occurrence. Money is spent quickly when the high growth requires more work and more frequent costs. A line of credit is designed to support and bridge the gap, but getting one is not always straight-forward. There are a few things you should know about getting a line of credit: the time it takes, security and covenants, and document preparation.

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2 min read

Set Accounts Receivable on Cruise Control with botkeeper

By Angelina DeLago on Mar 3, 2016 7:00:04 AM

One of the most time-consuming tasks related to bookkeeping is entering receivables each day. If you have a steady stream of cash flow making its way into your business, you no doubt have plenty of receivables to handle. As you already know, tracking receivables can be downright boring, even if it is an important function. Whether you have to do the receivables yourself or you have turned that job over to someone else, not having to do them at all would be ideal.

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3 min read

7 Things All Business Owners Do Daily

By Angelina DeLago on Jan 14, 2016 8:00:39 AM

Running a business is hard work. Anyone who has owned their own business – or even managed a business for a period of time – can tell you just how much work it is to stay on top of everything. This is especially true for small businesses where the budget doesn’t allow for the hiring of additional support staff. Small business owners often have to wear many hats, and they are usually wearing them at the same time.

 

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3 min read

5 Steps to Streamline Your Bookkeeping Operations

By Angelina DeLago on Dec 31, 2015 9:31:49 AM

Being in business is awesome.  Having the opportunity to run your own business – or to run a business with a group of people – is an exhilarating chance to take control of your future. Rather than just punching a clock, you have a chance to work hard for something you believe in, and hopefully reap the financial rewards at the end of the day.

Topics: Bookkeeping
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1 min read

Can You Trust A Robot While You Sleep?

By Angelina DeLago on Dec 3, 2015 8:50:07 AM

In recent years, robot vacuum cleaners have become a real hit. Since the debut of iRobot’s Roomba in 2002, they have sold well over 10 million units and that is only Roomba. Consumers are immediately sold on the idea of chore reductions. Who wouldn’t be? This was also true for a South Korean woman who made the purchase with the same appeal. The excitement quickly passed for her, though, when she became a victim of “vacuum robot rage”.

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