5 Differences Between Bookkeeping & Accounting
Bookkeeping and accounting are two critical aspects of business operations in any industry. Both of these roles help business owners and CEOs keep track of expenses, make informed business decisions, and potentially avoid serious issues such as fraud and embezzlement. While bookkeeping and accounting are very similar in their functions, there…
6 Management Skills to Reduce Conflict in the Workplace
Increasing Productivity in the Workplace It is no secret that conflict within the workplace creates tension. Many times, this tension reduces productivity. Research shows that 70-80% of all conflicts in organizations stem from strained relationships between employees. The typical manager or supervisor spends approximately 20% of their time dealing with conflicts…
Be PROACTIVE vs. REACTIVE in Your Back-Office Systems
At LUXA, we know that the most effective and efficient way to achieve success in business is by establishing proactive habits. When you are simply reacting to situations in which you find yourself, you often lack control. Because of this, outside forces are influencing the trajectory of your business. However, by…
Topics: Proactive
How to Reconcile Your Accounts in 8 Easy Steps
If you run or operate a small business, it is your sole responsibility to maintain the financial health of your company. To do so effectively, certain bookkeeping and accounting activities must be performed – especially at the end of the month. From employee payroll to budgets and expenses – your dollars…
The Importance of Reviewing Your Month-End Closing Process
As we wrap up another month, we wanted to note the importance of month-end closing procedures and how they impact business finances. Businesses that put into practice this type of accounting activity vary from large corporate multi-tax ID entities to mid-size companies. A month-end closing process is key to ensuring that…
Stay Ahead of the Pack! Sharpen Your Competitive Advantage
You’re very good at what you do! It’s why you’re successful in business. However, let’s not be naive about your successful business. Unhealthy habits, competitors, and hackers lurk in the night. They don’t want you to succeed. You’ve got to be intentional to stay ahead of the pack — to sharpen…
Topics: Competitive Advantage
Understanding Respect & Inclusion in the Workplace
Now, more than ever before, we find ourselves in a workforce that is becoming more diverse generationally and culturally. As business owners and CEOs, we must have the tools that we need to ensure that we are creating an inclusive workplace culture in which everyone feels equally respected and included. There…
Why Record Keeping Is So Important
A company’s financial statements tell the story of a business. The income statement will provide you a story of the present-day state of affairs. The balance sheet provides you with a historical picture of the assets, liabilities, and equity over the lifespan of the business. Record keeping, however, plays a significant…
Top 4 Human Resource Challenges Today
There is no doubt that employers have many human resource issues to work through. Increased awareness among employees, litigation, and governmental regulations have all impacted how employers and employees interact. We wanted to find out what the top issues are facing employers today, so we talked to a few business owners and…
3 Lifestyle Patterns You Cannot Afford!
At LUXA, we know that you can only achieve the success you are working towards when your personal and professional lives are balanced. We believe there are three key things that you can simply not afford: broken relationships, unhealthy lifestyles, and excessive company overhead. Let’s take a closer look at how…
