Picture this: You’re the captain of your business ship, navigating through the tumultuous seas of entrepreneurship. You’ve got a vision, a mission, and a plan. But there’s one thing that often gets overlooked in your grand journey—the financial statements. You’re not alone in this; many business owners, especially those not fond of numbers, tend to… Read More

Welcome back to our empowering blog series on financial literacy! In our previous blog posts, “Demystifying Financial Statements and Notes“, “Helping Your Financial Data Literacy“, and “Leveraging Financial Data for Business Success,” we explored the foundational elements of financial literacy and the power of leveraging financial data for business success. Now, we delve deeper into… Read More

Welcome back to our empowering blog series on financial literacy! In our previous two blog posts, “Demystifying Financial Statements and Notes“ and “Perfect Balance Accounting Helps Your Financial Data Literacy,” we laid the groundwork for understanding essential financial concepts and the significance of financial statements and notes. Now, we take the next step on this… Read More

In the world of financial literacy, understanding financial statements is paramount. These powerful tools provide a window into the financial health and performance of your business! Perfect Balance Accounting Services helps clients gain a deeper comprehension of these statements and their accompanying notes. The notes are crucial to making informed financial decisions. In this blog… Read More

At Perfect Balance Accounting Services, we understand how financial literacy is a vital component for a business’s success. It encompasses the knowledge and skills required to comprehend and effectively manage the financial aspects of your business, including understanding the intricate relationship between your finances and the overall performance of your company. At Perfect Balance, we… Read More

This past Wednesday (April 26, 2023), Perfect Balance Accounting owner Laura DeGroot gave an informative presentation to an Intro to Business course at Carthage College. The presentation focused largely on tax laws and business classifications, such as LLCs, partnerships, and S-corps. Nearly 20 students in the Business Economics department attended the presentation and gained valuable… Read More

Every year, scams steal millions of dollars from unsuspecting people, as well as stealing their personal information. The scams are getting harder and harder to detect. Here are some of the things to watch for. 1. Social Security Numbers: Getting access to your social security number is the holy grail for scammers. Once they have… Read More

  You are Not Alone If you’re feeling stressed because you haven’t filed your taxes yet, we want you to know that you’re not alone. Many people find themselves in this situation for a variety of reasons, and it’s nothing to be ashamed of. The important thing is to take action and get your taxes… Read More

It is essential to have knowledge of tax deadlines as a business owner or as an individual for several reasons: Avoid Penalties: Missing tax deadlines can result in penalties and interest charges, which can add up quickly and create a financial burden for individuals and businesses. Plan ahead: Knowing the tax deadlines allows individuals and… Read More

Banks reconciliations can be a great way to keep your finances in order and maximize your cash flow. In this guide, we’ll show you step-by-step how to perform bank reconciliations and why it’s important to do so. Collect Necessary Documentation. The first step to completing a bank reconciliation is to learn what documents you need.… Read More