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Team LUXA
If you’re a small business owner today, knowing what type of accounting method to use might have been the last item on your check-list before you opened doors to your business. However, what we are about to cover is the reason you want to take a good look at your books…
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5 Critical Issues with Keeping Your Books on Spreadsheets

Team LUXA
Accurate financial records are a key component in running a successful business. It is imperative for business owners and managers to ensure that transactions are properly recorded, and that data can be retrieved for audit and analysis at a moment’s notice. (more…)
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How Do You Know Your Invoices Are Getting Paid the Right Way?

Team LUXA
Keeping track of your business’s financial data is a critical element of the accounting strategy. Tracking the financial data provides you with insights on your revenue stream as well as future cash flow. An organization that doesn’t track its financial data is at risk of lagging on payment deadlines. This could…
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10 Ways To Improve Your Cash Flow Position

Team LUXA
Running a business means you are in charge of every aspect of the business. Your responsibility to your business financial health is what keeps you afloat to service your clients needs. In order to achieve a healthy financial perspective, it is important to know where your cash lies within your business.…
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How To Help Make Tracking Your Expenses Easier In Less Time

Team LUXA
  QuickBooks is one of the easiest accounting software solutions designed for use by small and medium-sized companies. Here are quick three tips to help make tracking your expenses and paperwork easier. (more…)
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Why Record Keeping Is So Important

Team LUXA
  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. While the balance sheet provides you with a historical picture of the assets, liabilities, and equity over the lifespan of the business.  Record keeping plays a…
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Month end close process checklist

Team LUXA
  Are You Ready for Year End? The end of the year is upon us and for small business owners it is an important time of the year.  Review this list to see if you are ready. (more…)
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What does your month end close process consist of?

Team LUXA
Why monthly bank reconciliation is imperative In today’s business environment, knowing how much cash your business has readily available is critical to the success of your organization.  This starts with the bank reconciliation, which enables effective cash flow management. Bank reconciliations compare a company’s records to their bank records, which authenticates…
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Bookkeeping Tips: Why are Inventory Counts important?

Team LUXA
So why are inventory accounts so important?  Making sure you have an accurate account, can make the efficiencies and customer service in a business the best. Although most counts are time consuming and drain you resources, they are very important. (more…)
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Why Reconciling Your Account Is Vital To Your Month End Close Process

Team LUXA
  Check Your Bank, Check Your Books Reconciling your bank account is a fundamental month end closing process in accounting and is critical for your business and personal financial health. If you are not reconciling your bank accounts on a regular basis you can’t be confident that what your balances show…
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