CFO Source Blog

How QuickBooks Has Changed Over the Years

March 15, 2024

For decades, QuickBooks has been the go-to solution for businesses of all sizes to manage their finances efficiently. As financial advisors at CFO Source, we’ve witnessed firsthand the remarkable evolution of QuickBooks over the years. Let’s take a stroll down memory lane and explore how this software has transformed to meet the ever-changing needs of […]

How to Prepare for This Tax Season

February 15, 2024

As another tax season approaches, it’s crucial for businesses to ensure they’re adequately prepared to navigate the complexities of tax compliance and optimization. At CFO Source, we understand the importance of strategic financial management, and we’re here to provide you with essential tips on how to prepare effectively for this tax season. Stay Organized Throughout […]

The Difference Between a QuickBooks Amateur and a QuickBooks Pro

January 5, 2024

QuickBooks is a powerful accounting software used by millions of businesses to manage their financial records, track expenses, and streamline financial processes. While QuickBooks is user-friendly and designed to be accessible to non-accountants, there is still a significant difference between a QuickBooks amateur and a QuickBooks Pro. Keep reading to learn the distinctions between these […]

Why Keeping Good Books is Critical to Success

December 4, 2023

In the world of business, the term “keeping good books” refers to the meticulous and accurate recording of financial transactions and maintaining organized financial records. While it may seem like a tedious and time-consuming task, keeping good books is a critical practice for achieving success, whether you’re a business owner or a nonprofit organization. This […]

Why QuickBooks is the Best Bookkeeping Software

November 2, 2023

Effective bookkeeping is the backbone of financial management for businesses of all sizes. It’s crucial to maintain accurate records, track expenses, and manage finances efficiently. Among the various bookkeeping software options available, QuickBooks stands out as a trusted and widely used solution. In this blog, we’ll explore why QuickBooks is considered the best bookkeeping software […]

5 Things to Ask Before Hiring an Accountant

October 2, 2023

Hiring an accountant is a significant decision for individuals and businesses alike. Whether you need someone to manage your personal finances or handle the financial complexities of your company, finding the right accountant is crucial. To ensure you make an informed choice, here are five essential questions to ask before hiring an accountant. 1. What […]

Benefits of Expert Financial Analysis

September 6, 2023

In today’s dynamic and competitive business landscape, sound financial analysis is an indispensable tool for driving strategic decision-making and achieving sustainable growth. Chief Financial Officers (CFOs) hold a pivotal role in steering their organizations toward success, and leveraging expert financial analysis is crucial for fulfilling this responsibility effectively. In this article, we will delve into […]

Consequences of Bookkeeping Mistakes

August 1, 2023

Bookkeeping mistakes can have significant consequences for businesses, ranging from financial losses and legal complications to damaged reputations and strained relationships. Accurate bookkeeping is crucial for maintaining the financial health and stability of a company. As someone who has been providing Marylanders with accounting services for years, we understand this at CFO Source and want […]

DIY Bookkeeping Horror Stories

July 3, 2023

Bookkeeping is an essential aspect of any business, providing valuable insights into financial health, tax compliance, and overall decision-making. While some businesses opt to outsource their bookkeeping to professionals, others choose to embark on the do-it-yourself (DIY) path. However, as with any DIY endeavor, bookkeeping can sometimes turn into a horror story, filled with haunting […]

Key Accounting Numbers to Guide Your Business

June 5, 2023

It’s not an understatement that small business owners carry a lot of weight on their shoulders. From sales and marketing to production, customer service, and overall financial management, small business owners have many responsibilities. Running a successful business requires careful monitoring and analysis of various financial metrics. These key accounting numbers provide valuable insights into […]

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