Cari Elaine Bookkeeping

07/15/2024

Here are 13 bookkeeping tips that can help small businesses manage their finances more effectively:

1. **Learn Basic Bookkeeping Concepts**: Familiarize yourself with essential bookkeeping terms and practices, such as double-entry bookkeeping and accrual-basis accounting.
2. **Separate Business and Personal Finances**: Open a separate business bank account to keep your business and personal expenses distinct.
3. **Track Every Expense**: Record all business expenses meticulously to ensure accurate financial records.
4. **Keep Receipts Organized**: Maintain organized records of all receipts, especially for expenses over $75, as required by the IRS.
5. **Automate Bookkeeping Tasks**: Use accounting software to automate routine bookkeeping tasks, saving time and reducing errors.
6. **Monitor Cash Flow**: Regularly track your cash flow to ensure your business remains financially healthy.
7. **Record and Monitor Receivables**: Keep track of all invoices and ensure timely payments from clients.
8. **Chart Your Accounts**: Develop a chart of accounts that categorizes all financial transactions for better organization.
9. **Prepare Quarterly Budgets**: Create and review quarterly budgets to manage your finances and plan for future expenses.
10. **Understand Financial Statements**: Learn to read and interpret balance sheets and income statements to gain insights into your business's financial health.
11. **Pay Yourself a Salary**: Ensure you pay yourself a regular salary to maintain personal financial stability and separate business finances.
12. **Hire a Professional When Needed**: Consider hiring a professional accountant or bookkeeper, even temporarily, to help with complex financial tasks.
13. **Stay Updated on Tax Laws**: Keep abreast of changes in tax laws and regulations to ensure compliance and take advantage of any available deductions.

Implementing these tips can help you maintain accurate financial records, make informed business decisions, and ultimately contribute to the success of your small business.

05/04/2023

Englewood Bank offering free trust seminars

Kerry Hunter, trust development officer at Englewood Bank & Trust, and portfolio manager Chris Eckstrom, MBA, are finishing up a series of complimentary Trust and Investment Management Services seminars in May. The seminars will take place at 10 a.m. at one of the following locations:

¦ Florida Chamber of Commerce, 601 S. Indiana Ave., Englewood

¦ Englewood Bank & Trust – Venice, 207 S. Tamiami Trail, Venice.

The following local attorneys will be joining Ms. Hunter at some of the seminars: Lori A. Wellbaum of Wellbaum Law, P.A.; Dean Hanewinckel of the Law Office of Dean Hanewinckel, P.A.; Leslie Lohn of the Law Office of Leslie Lohn LLC; and Callie Cowan of Ledbetter Law Group of Venice.

Estate Planning Basics

Thursday, May 4, at Englewood Chamber of Commerce

This seminar will review the basic elements of an estate plan, including last will and testament, power of attorney, and health care directives, focusing on the specifics and benefits of each and the pitfalls to avoid. The seminar will also include planning tools for non-married couples and couples who have remarried, plus ways to protect yourself, your loved ones and your assets. Presented with Ms. Wellbaum.

Kerry Hunter, trust development officer at Englewood Bank & Trust, and portfolio manager Chris Eckstrom, MBA, are finishing up a series of complimentary Trust and Investment Management Services seminars in May. The seminars will take place at 10 a.m. at one of the following locations: ¦ Florida Cha...

10/07/2022

Resources for Hurricane Ian recovery:
Make sure you contact your insurance right away and save all cleanup/repair receipts.
Start by applying for FEMA and let them know you own a business.
Then apply for the SBA Loans, you don’t have to take them, but it will put you on the radar for other money/programs that come available.

FEMA: https://www.fema.gov/disaster/hurricane-ian
SBA and EIDL Loan/Programs: https://floridadisaster.biz/ManageContent?PageID=SBA-SMALL+BUSINESS+LOANS
Florida Department of Economic Opportunity – Florida Small Business Emergency Bridge Loan: https://deosera.force.com/RebuildFloridaBusinessLoanFund/s/
Rebuild Florida - Housing repair and replacement program: https://floridajobs.org/rebuildflorida/housingrepair
Sarasota County Economic Development Corporation: https://www.edcsarasotacounty.com/
City of Sarasota: https://www.sarasotafl.gov/
City of Venice: https://www.venicegov.com/
City of Venice State Licensed and Specialty contractors registered with the City: https://www.venicegov.com/government/building-department/hurricane-ian-update
Sarasota County: https://www.scgov.net/
Crisis Cleanup – Volunteers to do roofs, trees, cleanup: https://crisiscleanup.org/login?from=%2F