Accounting Topics & Tips | Devine Consulting

Devine Dictionary

On today’s entry of Devine Dictionary, we are going to discuss liability. What is a liability? What does a liability look like for your business? We are going to discuss what that means and what it looks like in the accounting world. A liability is a monetary amount that is owed by the company to…

When you own a business, your time is very important. There are only so many hours during the day, and you don’t want to spend all of them working. But how do you know if your time management is out of control? And if it is, what can you do to help with that? Maybe…

Fall is here and the end of the third quarter is here for business owners. As you look to the end of the year it may also be a good time to evaluate how you are spending your time. What tasks are you completing that may not be the best use of your time? What…

Devine Dictionary

You may have seen a balance sheet or hear it being discussed. But do you really know what a balance sheet shows you? On today’s entry of Devine Dictionary, we talk about a balance sheet and what it shows you about your business. A balance sheet is almost like taking a photo. You take a…

Let's Be FRANK: Video 6

Today on Let’ Be FRANK we discuss the PPP loan. Not how you can get it forgiven by the government but what you can do right now to set yourself up for success! Watch Let’s Be FRANK: Video 6

Devine Dictionary

What is a reconciliation? You hear this term a lot when you talk to accountants, but do you really understand what it means? Maybe you do, maybe you don’t. By understanding reconciliations, you will see why it is important to have this task completed on a regular basis. We like to compare reconciliations to sorting…

Devine Dictionary

Today in the Devine Dictionary we are going to review accounts payable and accounts receivable. While this may seem like an obvious one to some, it is easy to confuse them if you do not have an accounting background. So, let’s dive in. Both terms are important to understand because they have to deal with…

Spring is the season of freshening up and that can only mean one thing, spring cleaning. Spring cleaning involves a lot of different to-dos; organizing closets, purging the attic, cleaning the walls and base boards around your home. But have you ever thought of what needs cleaned up in your business? Maybe your accounting software…

Every business owner knows the importance of good accounting in their business. However, it is easy to not love your accounting, accountant or any other part of that side of the business. Do you ever feel that way? Confused and frustrated every time you have to deal with your business’s accounting. Here at Devine, we…

Happy New Year! The new year is a great time to reflect on what you would like to do to improve moving forward. For a lot of people that includes New Year’s Resolutions. One resolution that many think of is to be less stressed in the coming year. As a business owner there are a…

Now is the time to get those W-9s together and prepare for 1099s. We know it may seem silly to start collecting this already but trust us, it will make your life so much easier if you just work ahead on this. The steps are simple and if you aren’t rushing to get this completed,…

Devine Dictionary

It’s time for another post in Devine Dictionary. Today’s word is journal entry. Think of a journal entry as an actual journal entry! We all see it in our head, a 13-year-old sitting in their room writing down what happened to them that day. In the accounting world a journal entry is very similar, it…

It’s October which means cooler weather, scary movies and Halloween is right around the corner. This is such a fun time of year and it can even get a little spooky! Between ghosts on TV and ghosts trick-or-treating, you can see ghosts everywhere this month. The one place you don’t want to see any spooky…

Devine Dictionary

We wanted to start a new series of blogs called, Devine Dictionary. It is exactly what it sounds like too, a review of accounting terminology for non-accountants. Periodically we will review some accounting language in hopes that you get a better understanding of the accounting you need to run your business and make accounting a…

National Payroll

September 3 – 7 is National Payroll Week! We know, payroll can be one of the stressful parts of business ownership, but it doesn’t need to be. Outsourcing your payroll to your accounting firm is a great way to take that stress off of your plate. Another benefit of working with your accounting firm is…