Weekly, Fortnightly or Monthly Bookkeeping Services For The Small Business

Weekly, Fortnightly or Monthly Bookkeeping Services For The Small Business

Even the smallest of businesses always handle some aspects of finance on a day-to-day basis. Startups and family-owned companies could use the services of accountants to track expenses, income, and taxes. Proper bookkeeping overall helps a business to reach its full potential. However, not all business owners realize the value of keeping their books in order until they are behind on a couple of payments or facing tax issues.

Depending on the way a business operates it might prove beneficial to update account books on a daily, weekly, fortnightly, or monthly basis. The reality is that no company that can exist without the proper administration of business funds, and the only way to figure out if this is happening is by recording these transactions as frequently as possible. Day to day bookkeeping for the small businesses is a key business need. 

What Is The Role Of Bookkeeping For A Small Business?

Bookkeeping essentially refers to handling the financial data of business with aspects of accounting and record keeping functions. More prominent corporations often have dedicated finance and account departments to manage these aspects, but for the mid-sized to small business sometimes it is impractical to have a full-time accountant onboard. It has given rise to the rise in outsourced bookkeeping with most companies getting these services from offshore firms.

While most small businesses start off with handling their finances internally, they soon realize that they need a professional to manage certain elements. Some of the other reasons why the small business should consider getting outsourced bookkeeping include:

  • Freeing Up Employee Time

When there is no dedicated accounts department or a full-time accountant to deal with business finance, the task often falls on non-accountant employees. They usually have to split time between balancing the books as well as performing their regular work duties. Often, these employees do not have sufficient bookkeeping skills and it also usually leads to workload fatigue.

However, outsourcing the services of a bookkeeping firm or hiring a financial manager on a need basis takes the load off employee time.

  • Uphold Transparency

Every business must have up to date account books. They often detail correct entries detailing payables, receivables, tax information, and every other financial aspect. Making account entries might seem like a straightforward task, but a foresight on a missed entry can create a myriad of issues for business.

That is why it is essential to make sure that a business hires a licensed Certified Professional Accountant to manage their finances. Hiring an expert in the field means that they are well versed with ensuring accuracy when bookkeeping and can catch on to any discrepancies early enough. Transparent bookkeeping, in the long run, can save a business from litigations arising from tax issues and in the worst case scenario closures.

  • Keep Up With Tax Laws

Keeping account books goes beyond giving a business insight into their finances. It is also a way to make sure that the company operates within the stipulated tax laws. These laws keep changing frequently, and for anyone who is not a dedicated accountant, it becomes difficult keeping track of them mainly in the case of a business that experiences exponential growth.

A finance manager can make sure that the business stays tax compliant and keeps up with the changing regulations. They can also make suggestions about elements that need changes related to financial legislation.

  • Meeting Financial Obligations

Businesses always have expenses and payments that they need to meet from time to time. It can become overwhelming for a startup who often have to wait a considerable time to receive payments from clients. Accounting firms can handle the process, and they are able to prioritize as well as schedule payments appropriately.

Tasking the professionals with the payment process also limits the likelihood of making costly payment mistakes.

  • Liability Cushion

When any business comes under the scrutiny of the law, it is always related to their bookkeeping. When contracting accounting firms, most often guarantee their work by accepting liability in the case of discrepancies that might arise.

While it does take a bit of the liability off of the business, such instances can end up tying the company’s capital for lengthy periods. Therefore, it is vital to carry out some due diligence before settling on any accounting firm.

  • Financial Forecasts

A good financial expert can quickly pick up on every aspect of a company’s economic image. That means that they can work on upcoming budgets to project the performance of the business. Making these financial analyses can keep a business on track and also enables the planning of future expansions.

Proper forecasting also enables a company always to have appropriate inventory as well as have enough funds to cover payroll, taxes, and other financial obligations.

Bookkeeping Frequency

The smaller business might not have huge expenses like the big corporations which need to have an in-house dedicated accounts department. That gives the startup the liberty to get financial services on a need basis. However, it still raises the question about the frequency of bookkeeping and whether a weekly, fortnightly or monthly schedule works best.

To reiterate, it all depends on the business operations and the nature of the market the company serves. For instance, a small business that sells products on a daily basis would need to make daily entries detailing the sales, payments owed to suppliers, and other expenses. These are aspects that employees can enter on an automated system but it would still take the services of a financial manager to balance the business books on a weekly or fortnightly schedule.

The business that does not have daily expenses might find it more convenient to update their books on a weekly or fortnightly basis. A sole proprietor who perhaps sells wares they make off of a home-based workshop might need the services of an accountant on a monthly basis to help with tax issues.

To sum it up, bookkeeping is an essential aspect of every business regardless of size. Working with a finance manager goes beyond simple bookkeeping, and they can offer valuable business advice on how to handle financial activities. When working with an accounting firm, a business can always reach out to them for professional guidance when the need arises.

How to decide on Spray Booth Treatments for your industry? 

How to decide on Spray Booth Treatments for your industry? 

A paint booth helps industries obtain a pristine finish for the products that can be painted in different colours. A spotless finish is important since customers will be choosy and no one wants to rework the same piece due to the time and effort consumed in the process. Therefore, it is essential that your paint booth can work at optimal efficiency and to ensure that you should have the paint booth serviced by a professional at regular intervals. Also remember that a defective paint booth can be the health hazard for you and your employees, apart from your products not receiving the desired finish. In some instances, a defective paint booth can also cause environmental hazards. Therefore, it helps to understand potential trouble spots with spray booths and be an informed customer, if you are considering installing a new spray booth.

 

 

Early warning of trouble with your spray booth

Once you have a program of routine checks at an interval of few weeks, you can avoid many of the problems without shutting down the spray booth for several days for spray booth maintenance. The following are among the early warning signs outside your spray booth itself:-

When you notice one or more of these signs, the first thing to check out is the ventilation around the system. Fumes and toxic vapours from the spray booth can be the underlying cause of the problems listed above.

Uneven or improper finishing
If you notice the drying cycles taking longer time or the final few coats of paint sprayed showing contamination with dirt or debris or running off, that is the first sign of trouble inside the booth needing the service of a professional.

Harmonious functioning
You can ensure optimal productivity from the spray booth when it is fully harmonized with every component. Malfunctioning even one component can result in complete breakdown or poor finishing. The following areas should receive your attention every day to ensure this.

  • Ensure proper sealing of the booth to prevent dangerous vapours and fumes escaping and affecting the environment as well as people around.
  • Check the calibration and function of all equipment starting with the jets to the computerized functions.
  • Check the filters and ensure that they are clean every day
  • Ensure effective air circulation and airflow

Why the filters are important

One of the major causes of improper functioning of your spray booth is clogged filters. If you inspect the filters at regular intervals, potentially, you will save time and money, apart from expensive repairs and downtime.

Rely on the professionals

You now have a broad idea of the functioning of your spray booth, and it is always desirable to rely on the services of professionals whenever you notice trouble spots that are beyond simple cleaning and tidying up. Ignoring minor trouble or trying to fix things up with in-house resources can be the invitation to more serious problems that could inconvenience you and your customers. When a professional takes charge, he/she can warn you of any impending problem so that you can take necessary steps without causing inconvenience to your customers.
Now, we move on to get a close-up view of spray booths and how you choose one for your industry.

The role of spray booths in modern-day manufacturing

Spray booths have significantly contributed to modern day manufacturing helping cost-effective production. These boots are designed in a way that they can accommodate products of varying sizes from very small components to semi trucks and large assembly lines as well as intricate furniture. While helping businesses to streamline production, spray booths also ensure the safety of employees and the environment around the workspace, control over contamination, hazardous material spilling over and many other associated health issues.

Classification of spray booths

Generally, spray booths are offered in 3 distinct configurations with each of them created to cater to specific applications. Booths with an open face, a back wall and two side walls with a ceiling for exhaust is a popular variant when you are focusing on furniture finishing, woodworking or a range of smaller components. Another variant is the non-pressurized booths which are closed completely with multiple or single door to accommodate varying sizes of material needing finishing. This variant comes in handy for metal work, automotive finishing, fibreglass and similar applications. The next variant is pressurized booths which are similar to a non-pressurized variant in terms of shape and size. But, this variant can adjust the air volume inside the booth providing a marginal advantage. Refinishing sectors, automotive manufacturing, electronics and similar applications needing a clean environment tend to prefer this variant.
A specific advantage you get from spray booth is minimizing health hazards for your workforce by protecting them from the hazardous material used in painting. Further, these booths also help avoid the potential explosion that may be triggered by various chemicals used in the painting process.

How to buy spray booths

Finish type, air quality, sizing, usage and price are the major considerations while shopping for spray booths. You are making a significant investment even at the lower end of your options. This could also drive some people towards looking at used equipment to save some initial costs. But, it helps to remember that used machinery and a used spray booth are two different propositions. In the first place, it is difficult, and you will not have the backing of manufacturer’s warranty if something, unfortunately, goes wrong. Therefore, buying a new one is always a prudent option for more reasons than one.
Finally, irrespective of your choice, you will also need to ensure correct installation to ensure that the heating system and every jet that sprays the paint are even to achieve the harmonious finish. Regular servicing by a competent professional will help you enhance productivity while earning safe profits.

How to get rid of moulds in ice machines and other hygiene issues

How to get rid of moulds in ice machines and other hygiene issues

Ice machines are the machines that produce ice. These machines can be used at various places like bars, hospitals, cafes, offices, etc. But there are many hygienic issues related to ice machines. The ice machines can get contaminated with various disease-causing microorganisms, especially moulds.
Mould is a type of fungus. Contamination by a mould is regarded as the biggest risk to ice made in ice machines. Mould is commonly found in the ice machines present at homes (freezers in this case) and restaurants. Moulds grow on ice machines when they are switched off, as they can’t grow in the cold temperatures when they are on.
This article will shed some light on how to get rid of moulds and other hygiene based issues found in ice machines:

How to get rid of moulds

Make sure you clean the freezers and ice machines many times in a year. Keep this in mind particularly when your ice machine has been switched off for some time. The refrigerators and ice machines are mostly switched off when summer comes. During this type, mound starts growing in the machine. So, a regular cleaning, even in the summers is a must.

Other hygiene issues related to ice machines

When the ice machines were tested after 5 weeks of a service, the results showed that the levels of bacteria were so high that it failed the Australia Standards Code. Due to the buildup of bacteria, the life of these ice machines reduces by 30%.
Sometimes people use ice machines without cleaning their hands. The scoop used in taking out the ice should be used with clean hands else the scoop touches the whole ice and contaminates it. You should remember to wash your hands before taking out ice like you remember to wash hands before you eat a meal. Insufficient cleaning of machines should not be done. If the ice machines are not cleaned properly, moulds will grow on it. Make sure a great amount of care goes into cleaning the ice machines. Also, proper handling of the equipment of the ice machines should be done.
Sometimes poor air and water quality can contaminate ice machines. Make sure that the surroundings in which you place the ice machine have clean air especially when the ice maker is of air-cooled type. The same goes for water cooled ice machines. The water used in water cooled ice machines should be clean.
Apart from mould and bacteria, parasites, viruses, etc contaminate the ice machines. Make sure they do not grow inside the ice makers or else contamination will happen. Again, appropriate cleaning of these machines should be done.
If bacteria are found in the ice makers of a restaurant, it should not come as a shock that bacteria might also be present elsewhere inside the restaurant premises. This raises a lot of concern about the areas using ice machines. Ice can also get contaminated when it touches other kinds of food, for instance, meat.
Another hygiene issue related to ice machines is if the water used for making ice is already dirty. This makes both the ice and the ice machines dirty. If a simple measure of using clean water is adopted, the risk of contamination of ice in the ice machines gets reduced altogether.
The viruses and bacteria growing on the ice cubes cause a lot of diseases like Norovirus, Shigella, Hepatitis A, Salmonella legionella, cholera etc. Hence, improper hygiene carried out while making ice in the ice machines can cause various diseases.
The important factors to be kept in mind while buying an ice machine can be the correct specification and type. If the ice machine is not according to the purpose for which it is used, hygiene issues may arise. Different types of businesses have different type of needs related to ice. Identifying those needs is important. For the efficient working of an ice machine, the correct amount of operational procedures must be used. Issues related to contamination of an ice machine can occur if appropriate procedures are not followed.

How to choose the best ice machine

It may be difficult to choose ice machines due to the vast variety of them in the market, especially for those who have no previous purchase experience. Here, Ice Machines Direct shares their unique tricks. First, determine the type of ice you want to generate at your home or business. After doing this, there are a couple of other factors that need to be taken into consideration for choosing the right kind of ice machines:

Size and volume

First, examine space at which you will put your ice machine once you buy it as an ice machine requires a lot of space. You can calculate your ice usage and then check whether the space you have allotted for a new ice machine is perfect to suit your ice needs. If you end up buying an ice machine that is too small, you may need to buy another one soon. So, do not compromise on the space needed to keep an ice machine especially when you have businesses that require large amounts of ice and need a high capacity ice maker.

Speed

Ice is something that should be produced in a very less time. Do look out for the production rate mentioned on the ice machine the next time you are out shopping for it. This rate will tell you about how much ice the ice maker will make during the course of one day.

Cost

Finding an ice machine that comes under a specific price range is a factor that needs to be considered. Fancy models of ice machines will cost you more. An ice machine with a high production rate and volume will also come at a higher cost.
Hence, we can all see how moulds and other types of microorganisms contaminate ice in ice machines and cause so many hygiene issues which are not easy to get rid of. Following the precautions in this article will make sure that ice makers remain uninfected to a larger extent. We can also see how buying an ice machine while keeping some factors in mind can prove to be beneficial.

How Our Waste Is Costing The Marine Life? Choose To Recycle

How Our Waste Is Costing The Marine Life? Choose To Recycle

Oceans remains some of the most significant mysteries to the human race. Other than the recreational benefits they bring to us, oceans are home to millions of lives. You might see the ocean in your country as a vast source of water, but below the surface, there are tons of living organism that need to be protected at all costs.
These water bodies are highly vulnerable to many things, but the worst of all is the human touch. We have millions of industries around the world that direct their waste into these water sources, thinking that they are driving away the waste to save the human life. This is a tradition we should fight at all costs since it’s not only making our holiday destinations hazardous, but they are contributing to the suffering of marine life at a terrifying rate.
Is there any proven statistics confirming that our waste is costing the marine life? Yes, the numbers are shocking!
According to research, over 820 species of animals are affected by ocean pollution, and the number is expected to grow even higher if we do not stop disposing our waste into the ocean.

Ocean dumping; the practice that is wiping out human civilization

There are some causes of ocean pollution including;

  • Oil Spills
  • Maritime transportation
  • Air pollution
  • Chemicals and,
  • Agricultural runoff

However, some of these causes can occur unwillingly, and we can give humans a benefit of doubt. However, think about this – factories, tankers, ships, and even residential premises are today directing all their waste to the oceans. Most of the materials disposed of contain dangerous substances including cryolite and mercury that pose a significant threat to marine life. If this is allowed to continue, then we shall have all the oceans for ourselves since no marine life will be left, and we might also bring life on earth to a sudden end since we shall also fall prey to our actions.

How exactly is our waste disposal affecting marine life?

Water pollution and how it affects marine life has become one of the most talked about topics across the world. There is a significant concern that most plants and animals are becoming extinct, not because we are consuming them at an alarming rate or poaching them for their body parts, but because we are disposing harmful waste directly into their living space, making it hard for them to reach their various life expectancies. As an experienced waste solution provider, GT Skips investigated that inappropriate waste disposal costs the marine life in the following ways.

1. Millions of sea mammals, fish, and birds die every year due to ingestion of plastic waste

Over 100 million metric tonnes of plastic are produced every year. A devastating fact is that over 10 million metric tonnes of this end up into our oceans. This doesn’t mean that the factories dispose of them there – but we do this every day through littering. At times, you will throw plastic waste into a river near you, not knowing that it will be channeled into the ocean in no time, and kill birds and mammals in their millions.
Plastics might also end up in the oceans when they are blown from a landfill. Fish, birds, and sea mammals take advantage of the free dinner – something that often results in fatal effects.

2. Chemicals from waste are killing marine life

Most of the products we use today are made of chemicals. These chemicals don’t die when we dispose of the products but creates damage, not only to the environment but also to marine life. When they get into the ocean, they are ingested by living organisms leading to death.
Some chemicals can introduce fertilizers in water which will destroy the existing nutrient systems; thus causing a massive growth of algae which contain hazardous toxins that lead to depletion of oxygen in the water, which will sooner or later result into the extinction of many sea plants and animals.

3. Acid rain introduces aluminium into oceans, destroying marine life

If you thought that acid rain only comes as a result of industries, then you are dead wrong.
Most of the products we dispose of contain fossil fuels. In case they are released into the atmosphere, the chemicals in them mix with water and form an acidic compound. This has adverse effects on the marine ecosystem. It releases a lot of aluminium into the ocean which alters the PH levels; therefore killing many organisms.
Eventually, the ecosystem becomes highly imbalanced, and even the organisms with the highest immunity become threatened.

Choose to recycle

Do you want to protect the environment? Are you willing to take a step that will save the marine life? Choose to recycle!

What is recycling?

Even before you jump into the many benefits of recycling, it is critical to for you to understand what recycling is. This is the process of converting waste into a reusable product. For example, you can buy water in plastic bottles. After you finish with them, you can take them to a water company for reuse, or you can take them to another company that produces bottles. Better still, you can use them to package other products.
When you choose to recycle, you will be saving the marine life in the following ways;

  • The chemicals and the greenhouse gases that are produced by wastes and later find their way into oceans will be reduced, which means marine life will continue thriving
  • Ocean pollution that comes as a result of improper waste disposal will be highly reduced, meaning the oxygen levels in water will not be altered. This will improve the quality of life enjoyed by sea plants and animals.
  • When you recycle your waste, you will be reducing the use of fossil fuels in the production of new products, which means less acid rain, unaltered PH levels, and blossoming marine life.

The effects our waste has on marine life are too intense, and they require more than just reading this post. You need to do something that sea organisms could thank you for if they had the opportunity. This is the best you can do;

  • Reduce the use of potentially harmful products
  • Recycle your waste
  • Collect any litter you come across
  • Keep the rivers and streams near you clean

And finally, educate everyone around you on the importance of marine life, and why carefully disposing of waste can help improve this life.