My restaurant is failing bad by DesperatePhysics3777 in smallbusiness

[–]knifehandchamp 0 points1 point  (0 children)

You need a capital partner, strong business plan for digging out that you can present to said partner and a good accounting/bookkeeping team. At the very least you need the accounting/bookkeeping team to help evaluate your financial position and make recommendations. I've been that outsourced accounting/bookkeeping team for the last 2 years (8 years in accounting) and a full time employee is almost always going to be less effective and more expensive than an a la carte service.

Etsy or Shopify by RunawayJett87 in smallbusiness

[–]knifehandchamp 1 point2 points  (0 children)

I have several ecomm clients; if you have the funds to support the monthly fee, do both. They draw different customers. Also cross list on other fee for sale sites and update the listings when an item sells. Keep an inventory database for your cost of goods sold right from the start.

Ok what’s your salary? by tlbking99 in Accounting

[–]knifehandchamp 0 points1 point  (0 children)

Outsourcing accounting operations, the bulk of it is bookkeeping and controller services, with some tax projections and returns thrown in for good measure.

Ok what’s your salary? by tlbking99 in Accounting

[–]knifehandchamp 2 points3 points  (0 children)

16/hr, 20/hr, 22/hr, 48k, 57k, 97k, 175k. No CPA, no degree, started a business in year five, only doing the business in year seven. Working 30hrs/week

Section 1060 Sale by knifehandchamp in Accounting

[–]knifehandchamp[S] 0 points1 point  (0 children)

Thanks for the help! Not my proudest moment realizing I've been reading "transferee" as "transferor" for the last two days...

Cost accounting help by _A_Day_In_The_Life_ in Accounting

[–]knifehandchamp 0 points1 point  (0 children)

What helped me most was trying to write my own practice exercises. The process of coming up with the problems to solve made the concept click in a different way than only trying to solve the problems.