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    Financial Ratios for Your Small Business Part II
    • Sep 30, 2019
    • 2 min

    Financial Ratios for Your Small Business Part II

    Last week, we introduced a few financial ratios that you can use on your balance sheet and income statement. This week, we'll add to that list! Gross Margin Gross Margin = Gross Profit / Net Sales When You Use It: The Gross Margin Ratio gives you a percentage of sales dollars available after you've deducted the cost of merchandise. If yours looks particularly high or low, remember that this varies by industry and by company! Profit Margin (after Tax) Profit Margin = Net Incom
    10 views0 comments
    5 Easy Steps to Managing your Payroll
    • Apr 23, 2019
    • 5 min

    5 Easy Steps to Managing your Payroll

    As your business grows, you may find you need to hire your first employees. While this is an exciting step for any business owner, it is important to ensure you take the right steps when setting up and managing employee payroll. Read on for 5 easy steps for managing employee payroll! Photo by Priscilla Du Preez on Unsplash 1. Consult with payroll professionals and register as an employer As a business owner, you most likely have an accountant or other business mentor who can
    4 views0 comments
    Why Your Small Business Needs an Accountant
    • Jan 8, 2019
    • 2 min

    Why Your Small Business Needs an Accountant

    Accountants do more than just the basics of accounting. At the end of the day, they are financial experts that can save you and your small business money and time so your can focus on growing your company! photo from wix.com Many Accountants are Tax experts Many accountants are up-to-date and trained to learn the nuances of changing tax laws. These laws are confusing at best, so hiring a tax professional can help you understand changes and utilize them to your best interest.
    7 views0 comments
    Happy New Year! Start Prepping your Taxes Today!
    • Jan 1, 2019
    • 2 min

    Happy New Year! Start Prepping your Taxes Today!

    Happy New Year from Practical Accounting Solutions! Photo from Wix.com We wish you the best in 2019 and hope you have a wonderful year! It's not too early to start planning for tax season! According to the IRS, 36% of taxpayers wait until April to file their returns. We know how stressful filing your taxes can be, so we prepared some tips to help you file early and get your refund even quicker! Have a System Keeping organized is one of the best ways to make filing taxes easy.
    25 views0 comments
    Happy Holidays from Practical Accounting Solutions
    • Dec 25, 2018
    • 1 min

    Happy Holidays from Practical Accounting Solutions

    Photo from wix.com We would like to wish everyone a Merry Christmas, Happy Hanukkah, Happy Festivus and any other holiday you may celebrate this time of year from Practical Accounting Solutions! The most important part about this time of year is surrounding yourself with family and friends and reflecting on the ups and downs of the year but always looking forward to the prospect of a New Year and everything that will come with it. Wishing you the happiest of holidays and we c
    6 views0 comments
    Should I outsource tasks in my new business?
    • Jun 5, 2017
    • 3 min

    Should I outsource tasks in my new business?

    Every small business owner needs to make decisions each day on whether to do a task themselves, hire some internally to do it, or hire an ex
    35 views0 comments

    Our primary mission is to maximize benefits to our clients by providing quality, personalized and attentive accounting services. As your trusted advisor, we’re dedicated to doing everything we can to improve your business practices and operations so you can relax and focus on what you do best: growing your business.

    Office: 10705 Courthouse Rd, Suite 116, Fredericksburg, VA 22407

    Phone: (703) 309-5754

    ©2019 copyright Practical Accounting Solutions

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