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October 12, 2007

THIS ISSUE'S THEME:
Small Business Accounting


Record keeping for small businesses

The mindset and behaviors associated with protecting intellectual property start with top management. It's a tough job considering the not-so-surprising latitude for departing employees to take corporate trade secrets with them. The Boston Business Journal reports that even with strict vendor confidentiality agreements, keeping corporate secrets may be difficult. Identifying intellectual property at early stages is a good start.

How to defend yourself against receivables fraud

The flaws in financial controls (or lack of them) that can enabled an employee to steal money from a business can be corrected if the owner knows how to regularly monitor his receivables activities. Here is a list of self-tests that businesses can use to determine where they may be vulnerable to receivables fraud.

Excel Zone spreadsheet tips: Think first, Excel second

For a small business with new employees, the process of setting up a new payroll system can be daunting. By breaking down the process into small steps, the process can go smoothly, employees will get their paychecks on time, and tax filing deadlines will be met with ease.

For small businesses cash flow is king

Many small businesses seem to stumble from crisis to crisis as they strive to balance bills, paydays and receivables without a cash budget. Recognizing that new entrepreneurs and owners of rapidly growing small businesses need help in establishing an effective cash management system that makes every dollar count, accounting firms, law firms and banks are beginning to offer cash flow guidance.

Tax pitfalls you could face as a small business owner

Starting your own small business can be an exciting venture. However, there are several things that many do not think about in advance that could put them out of business before they have barely begun. And attempting to handle some of these problems on your own may ultimately lead to negative results.

Editor's Note

For this issue of the Bi-Weekly Bullet, we have taken a look back into our archives for some timeless articles about small business accounting. In addition, we are introducing a new feature at AccountingWEB: Broadcasts from Small Business Trends Radio. These hour-long, downloadable programs will appear weekly, so look for a new broadcast each Friday. This week's broadcast, "Tax pitfalls you could face as a small business owner," provides useful tips for staying out of tax trouble.

Gail Perry
Editor
editor@accountingweb.com

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