Among the many items you must consider when opening up your own practice, your accounting and finances might be the most important and the most daunting. Most law schools don’t teach you the ins and outs of getting your accounting right, so it is up to you to do the...
The key to any successful business is strong and accurate finances. As a small business owner, having at least a basic understanding of accounting terms and principles will help you identify areas of your business where you can improve or grow and set you on the...
QuickBooks has become the go-to accounting solution for millions of small businesses. But, just because it’s become extremely popular doesn’t mean it’s intuitive. Many small business owners expect a TurboTax-like experience, one in which they simply need to fill in...
We’ve all heard the phrase “cash is king” and that’s because if there’s anything more crucial to a growing business than profit, it’s cash. While profitability can be manipulated on the balance sheet, your cash is set in stone. Investors and banks know this, and as a...
Here at ScaleFactor, one of the questions we get asked over and over is how to set up class tracking—and if it’s worth it. Our response? Class tracking is a handy feature of accounting that helps business owners get a more detailed view of their finances. It’s a...
These days, everything can be done on mobile. There are millions of apps out there that help you accomplish everyday tasks such as booking a hotel, scheduling a workout class, and finding a dog sitter. The old-school banks have even created apps allowing you to view...
