The cash basis of accounting is the method of recording revenue when cash is received and recording expenses when cash has been paid out. This method is easy and enables the business to legally manipulate taxable income. Paying less in taxes is as easy as spending more money. The cash basis is common for small…
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Outsourcing Accounting Services: Increase Your Bottom Line
Outsourcing accounting services is a great way to save time, money, and your sanity. It can be difficult for many business owners to find the time or expertise necessary to keep up with all the paperwork that comes from running a successful company. We will examine how outsourcing accounting services can help you improve your…
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Protea Conversations: Tracey Welch
Protea Financial was founded in 2014 to provide high quality out-sourced accounting at an affordable price. Given Protea’s flexible work environment, the Company especially appealed to accountants who wanted to re-enter the work force after taking time off to start a family. This allowed Protea to attract extremely talented individuals who were overlooked. Over 80%…
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Property Insurance in the Wine Industry
As things begin to open back up with COVID-19 getting more under control, we find that it is “fire season” in Wine Country. With fire season front and center, we find ourselves saying that “it’s not if there is another fire in our area, it’s when will the fire occur and where?” How do wineries…
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How to understand your balance sheet: A beginner’s guide
A balance sheet is a financial statement that provides an overview of the company’s assets, liabilities, and equity at a specific point in time. It is important to know what each one means in order to understand how well you’re doing. It can be difficult to understand all the information on this document, but there…
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Protea Conversations: Alicia Cronbach
Protea Financial was founded in 2014 to provide high-quality outsourced accounting at an affordable price. Given Protea’s flexible work environment, the Company especially appealed to accountants who wanted to re-enter the workforce after taking time off to start a family. This allowed Protea to attract extremely talented individuals who were overlooked. Over 80% of both…
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