Accounting Articles and Tips
POLARIS TAX & ACCOUNTING
Chart of Accounts: The Ultimate Guide with examples
The Chart of Accounts is one of those unknown parts of your accounting software we don’t even think about. What most entrepreneurs don’t realize is that the chart of accounts represents the foundation of your
Bookkeeping Services for Small Business
According to a survey conducted by SCORE, most small business owners spend at least $1,000 per year on accounting administrative costs. Survey after survey, highlight how bookkeeping continues to be the least favorite activity by
The Difference Between Bookkeepers, Accountants and Trusted Advisors
Business owners will often use the term Bookkeeper and Accountant interchangeably, while these roles might appear to be the same on the surface, there are some important differences between both roles. Additionally, the role of
14 Steps to Take If You Suspect You’re a Victim of Identity Theft
Identity Theft is a real and growing problem for everyone, according to a recent article by Experian, in 2017 an astounding 1,579 data breaches were reported which exposed 179 million records with sensitive information. Unfortunately,
Common QuickBooks and Bookkeeping Mistakes (and How to Fix Them)
Accounting errors can be costly, if you are audited and you are found to have understated your income, you will probably end up paying significant penalties and interest. In this article we review some of
Where did the money go? Understanding the Cash Flow Statement
My Profit and Loss Statement shows that the business is making a profit so why don’t I have any cash in the Bank Account? Where did the money go? This is a very interesting question
Virtual Accounting Firm, what are the benefits of working with one?
Today accounting firms are becoming more and more virtual as they strive to become a true Trusted Advisor for their clients. A virtual accounting firm reduces overhead costs, giving employees a better work-life balance and
How much does outsourced accounting cost?
We are often asked by prospective clients how much does outsourcing their business accounting cost each month? The short answer to this question is: It depends. Company size, number of transactions flowing through your accounts
The Trusted Advisor
As part of our Business & Personal Advisory Services, we strive to become your Trusted Advisors by implementing proactive and holistic planning services centered around your individual needs. A 2018 survey conducted by Accounting Today
Avoid these Four Common Businesses Tax Errors
Business owners often wear many different hats, from Marketing Specialist to Chief Financial Officer. When it comes to Accounting and Taxation, you might be tempted to implement a DIY approach rather than engage with an
Law Firm Accounting, Pitfalls and Best Practices
Law Firms often struggle to properly setup, manage and maintain an effective Accounting process. You are an Attorney, not an Accountant, and Law Firm Accounting can be very challenging. In this article, we explore Accounting
Do I really need to work with an Accountant?
Why do I need to work with an Accountant anymore when popular accounting software like Quickbooks, Xero, Wave, and Freshbooks can connect to my bank account and automatically record transactions? This is a popular question
Why You Need a real-time approach to Bookkeeping and Accounting?
Bookkeeping and Accounting can be boring, we know! Yet, it is an essential part of your business because it gives you clear information about the health of your business, your overall cash flow, how much