Delving into the financial aspects of your small business might not be the most thrilling task. However, it’s undeniably one of the most crucial steps toward achieving success and growth.   By keeping a close eye on your monthly financial statements, you gain valuable insights into your business’s financial health, enabling you to identify potential issues early and take proactive measures to address them.  Here are the most important monthly financial statements that you should focus on:   Top 3 Monthly Financial Statements for Small Businesses  1. Balance Sheet ..read more

Running a business isn’t always a walk in the park, especially when you’re dealing with the financial side of things. However, understanding the intricacies of business efficiencies can make your entrepreneurial journey significantly smoother. At Yeater & Associates, we understand the ups and downs of business ownership, and we’re here to share some valuable insights, especially for those who are navigating the maze of business operations and banking. Today, we’ll discuss how to improve accounts receivable turnover – a critical aspect of managing your business finances. Understanding Accou ..read more

If you’re a new or prospective business owner, we know how overwhelming it can be to figure out the best way to operate your business and banking. That’s why we’re here to help you understand the top benefits of having a business account and why it’s crucial to separate it from your personal account. Let’s get started! Top 5 Benefits of Having a Business Account 1. Better Record-Keeping Firstly, having a business bank account allows you to keep track of your finances more efficiently. It’s essential to have a clear record of your business’s income and expenses, and having a separate bank accou ..read more

Let’s face it: inflation is an ever-present risk for small businesses. As the cost of goods and services rises, small businesses often struggle to maintain their profitability. The good news is that there are several small business strategies on how to stay ahead of inflation. In this blog post, we will explore the top seven, so small businesses can stay ahead of inflation and thrive in a challenging economic environment. 7 Tips on How to Stay Ahead of Inflation 1. Keep Your Pricing Strategy Flexible During times of inflation, prices can rise rapidly, and small businesses need to be able to ad ..read more

Starting a small business is no easy feat, and it can be even more difficult in the current economic climate. Luckily for small business owners in Colorado, there are several grants available to help entrepreneurs get their businesses off the ground and keep them running. In this blog post, we’ll look at some of the small business grants in Colorado to give you a head start. Finding Small Business Grants in Colorado Colorado Office of Economic Development & International Trade (OEDIT) Grants The Colorado Office of Economic Development and International Trade (OEDIT) is a powerful tool for ..read more

Between the cashflow apps, filing cabinets full of receipts, accounting services, and excel spreadsheets, there are certainly a number of ways to stay on top of your financial situation. It can look different from person to person, but the important part is that it gets done. Sure, keeping track of a budget might feel tedious and maybe boring at times, but this practice can lead to true financial freedom in the end. Many people fixate on the day-to-day (what they spend, what they make, how to pay the bills, etc.), while the long term budgeting practices can get overlooked. If you’re looking fo ..read more

As a small business owner, you’re constantly putting in the work to ensure your products, services, and employees are coming out on top. But it’s extremely important to do the same for your finances, as well. Proper documentation and tax filing are key to keeping your business operational and profitable. As you begin to prep for your Colorado small business taxes, we’ve created the following guide as a helpful resource. Let’s jump in! Beginner’s Guide to Filing Colorado Small Business Taxes Determine Which Type of Tax Return Is Needed Not every tax return (or form) is the same, and it’s import ..read more

Business growth is exciting, encouraging, and generally profitable, but the implications of such growth can be downright terrifying. Let’s face it: the more you expand, the more your company will need to adapt in order to keep up with the needs of your clientele. Workload will increase, and a result, many other stressors. To maintain business success and encourage future expansion, you will need to consider professional help with finances. That’s where fractional controller services come in handy. This business addition is perfect for people who need flexibility and diversity in their financia ..read more

Recently, Yeater & Associates acquired Loveland CPA firm, Alexander, Broughton & Co. PC. This consolidation came after the owners of Alexander, Broughton & CO. PC made the decision to retire. Read more about this exciting new news for Yeater & Associates here. The post Yeater & Associates buys Alexander, Broughton & Co. PC. appeared first on Yeater & Associates, CPAs ..read more

“It’s fine, I can just do it!” said every small business owner ever. And while that’s not necessarily a bad thing, it can get out of control quickly – especially when it comes to finances. We’ll admit: powerful business management tools are fantastic for keeping things in order, but you still need the personal touch of a professional to keep your business running. If you’ve ever wondered, “Do I need an accountant if I use QuickBooks?” then this is the blog for you. Today, we’re going to break down the difference: QuickBooks online user VS accountant. Let’s get started! Do I Need an Accountant ..read more