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Working Capital: A Comprehensive Guide
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction Working capital is one of those business terms that everyone uses, but few people can define. There are also many variations such as operating working capital, quick ratio and the working capital ratio. In this blog post I’ll be discussing whether…
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ROI – The Best and Worst Business Metric
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction There are many financial metrics, but it seems they were not all created equal. There is one financial metric which has risen to rule all the others – and that’s Return on Investment (ROI). You won’t be able to have a…
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Financial Literacy 101 – Gross Profit
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction Welcome to our first blog aimed at helping small business owners interpret and understand their financial statements. This week we’ll be focusing on understanding gross profit, what it means, how to calculate it and how to improve it. What is Gross…
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The Better Business Bureau Explained
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction I own a business, and on the advice of a friend I took the time to register with the Better Business Bureau (BBB). It wasn’t long after I created the free account that a BBB sales agent called me, trying to…
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Excel vs QuickBooks: Choosing the Right Tool for Bookkeeping
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction So you’ve started a business, and it’s time to get your bookkeeping in order. There are many different accounting software to choose from, but one that people tend to forget about is Excel. You might be surprised to hear that you…
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What is Double Entry Bookkeeping
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. If you own a small business then you’ve probably heard the term double entry bookkeeping thrown around, but what is double entry bookkeeping? Put very simply, it means that every single transaction recorded in your accounts must be entered in two separate…
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Unadjusted and Adjusted Financial Reports – Understanding the Difference
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction When you ask your accountant or bookkeeper for financial reports such as a Profit & Loss (P&L) or Balance Sheet, you’ll likely hear them add the disclaimer, ‘unadjusted’ to the financial reports they give you – but what does this mean?…
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QuickBooks Online (QBO) Payroll vs Wagepoint
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. Introduction QBO Payroll and Wagepoint are probably the two most popular small business payroll software in the Canadian market. A common question I get asked is which one is better? In this article I’ll review both software to help you decide which…
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Comprehensive Review of SOS Inventory Management Software: A Seamless Integration for QuickBooks
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. I recently took a free online webinar offered by the SOS Inventory Management team to learn more about their product. As someone who’s worked with major ERP systems in the past, I was curious to see what SOS had to offer. To…
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Dext vs Hubdoc: An OCR software review
Written by Stephen Beard, Managing Director of Plyo Bookkeeping, a Vancouver-based bookkeeping firm. What is OCR software? OCR (optical character recognition) software have been a real game changer for the small business accounting world. But what is OCR? In a nutshell, it’s software which can read images and pictures, recognize characters, and automatically extract key…
