Ninety-nine percent of business owners don’t enjoy managing their books – and chances are, you’re one of them. The benefits of virtual bookkeeping extend far beyond simply keeping your financial records in order. Rather than spending valuable time wrestling with spreadsheets or paying for a full-time in-house bookkeeper’s salary and benefits, online bookkeeping services for […]
Outsourced Controller Services That Powers Business Success and Growth
Did you know that 82% of business closures stem from inadequate cash management? While many businesses struggle with financial oversight, hiring a full-time controller isn’t always feasible, especially when salaries range from $106,000 to $218,000 annually. This is where an outsourced controller can transform your financial management without breaking the bank. In fact, outsourced controller services […]
A Simple Guide on How to Master Small Business Tax Planning
Did you know that small business owners’ valuable 20% tax deduction on qualified business income is set to expire after December 31, 2025? Even more concerning, the top marginal tax rate will jump from 37% to 39.6% in 2026. These upcoming changes make small business tax planning more critical than ever. However, many business owners leave thousands […]
Simple Guide on the Difference Between Bookkeeping and Accounting
Many business owners feel confused when it comes to handling their finances. They often wonder whether they need a bookkeeper vs accountant, or which tasks belong to bookkeeping vs accounting. In simple terms, The Difference Between Bookkeeping and Accounting comes down to how each professional handles financial information. Bookkeepers record it. Accountants analyze it. If […]
Cash vs Accrual Accounting Which One Is Better for Your Small Business?
Your choice between cash vs accrual accounting shapes your business’s financial story. Here’s good news: businesses earning up to $30 million yearly can now use cash basis accounting. This expanded threshold opens new possibilities for your accounting strategy in 2025. Small business owners love cash basis accounting for its simplicity – you record money when it moves […]
How To Calculate Cost of Goods Sold (COGS) for Your Business
At Gnesist, we know that managing your finances is crucial to the success of your business. One key aspect that can significantly affect your profitability is the Cost of Goods Sold (COGS). For our clients who deal with inventory, it’s important to understand how we calculate COGS and why it matters for your financial reporting. […]
The Best Outsourced CFO Services That Deliver Results and Profit
Running your business is hard enough without trying to be your own CFO. While you know expert financial guidance matters, bringing on a full-time CFO at $334,103 to $565,829 per year just isn’t realistic for most growing companies. Here’s the good news: outsourced CFO services give you the same expertise at just $3,000 to $8,000 monthly. Once […]
Gnesist Remote Bookkeeping Services: Made Simple, Secure, Efficient, and Reliable
Remote bookkeeping services can save your business over 83% compared to maintaining an in-house bookkeeper. In fact, with monthly costs ranging from $50 to $400, these online bookkeeping services offer significant financial advantages while providing expert financial management. The rise of virtual bookkeeping services has revolutionized how businesses handle their finances, offering a cost-effective alternative […]
How to Read Your Business Financial Statements for Newbies
Why Financial Statements Matter for Your Business Did you know that 82% of small business failures are linked to poor financial management? As a new business owner, understanding your financial statements isn’t just about compliance—it’s about survival. These documents are your business’s report card, telling you:✅ Are you profitable?✅ Can you pay your bills?✅ Is your business growing or shrinking? […]
Your Ultimate Guide to Business Tax Deductions
Why Tax Deductions Matter for Your Business So many small business owners over pay in taxes each year. In fact, the average small business misses out on about $1,200 a year in business tax deductions. Whether you work alone or run a growing LLC, knowing which expenses you can deduct helps you keep more of […]
How to Setup a Bookkeeping System for a Small Business
Running a small business is rewarding, but managing finances can quickly become overwhelming. Disorganized records, missed deductions, and compliance risks are common pain points for entrepreneurs. At GNESIST, we understand that a streamlined bookkeeping system is the backbone of financial health. In this guide, we’ll walk you through setting up an efficient, error-proof bookkeeping process—and […]
The Ultimate Guide to Tax Planning: Maximize Your Savings
Tax planning is an essential aspect of financial management that helps individuals and businesses reduce their tax liability while remaining compliant with the law. Proper tax planning ensures that you take advantage of deductions, credits, and strategic investments to minimize your overall tax burden. In this guide, we will explore key tax planning strategies to […]
10 Common Bookkeeping Mistakes Small Businesses Make (and How to Avoid Them)
Accurate bookkeeping is the lifeline of your small business’s financial success. In this guide, we’ll break down the 10 most common bookkeeping mistakes plaguing small businesses and provide actionable fixes to help you avoid them. Whether you’re a startup founder or a seasoned owner, these insights will streamline your financial processes, maximize deductions, and keep your business […]