What You Should Know About Virtual Accounting

Your accountant doesn’t have to be physically present for your business to benefit from their expertise. Modern technology makes virtual accounting an excellent alternative. It analyzes your accounts remotely and updates them appropriately. Virtual accounting also works if there’s a significant distance between your preferred accountant and your business premises. Some individuals and companies choose […]

Written by prositesfinancial • Dec 4 • 3 minute read

What is Financial Health?

Financial health refers to the overall state of your monetary affairs. It’s your ability to manage earnings, expenses, debts, wealth, and fiscal shocks. There are various ways to create financial health, including savings, retirement plans, and planning how you spend your income. If you can comfortably handle unexpected financial emergencies as well as short- and […]

Written by prositesfinancial • Nov 24 • 3 minute read

Using a 529 Plan To Save For College

A 529 plan is a savings plan that is used to save money for college which offers certain tax and financial aid benefits. 529 plans are quite versatile and they can be used for other things too, such as K-12 tuition bills. The Types of 529 Plans There are a couple of different types of […]

Written by prositesfinancial • Sep 3 • 4 minute read

Credit Card Negotiation Options and Risks

Credit card debt is one of the most pervasive financial issues faced by Americans, with the average credit card balance as of 2016 being $5,551. If paying off your credit card debt is proving to be a substantial challenge, or worse is making it difficult to pay critical household expenses such as groceries, rent, medical […]

Written by prositesfinancial • Apr 17 • 4 minute read

Why Dave Ramsey Might Just Be Right About Using Only Cash

The truth is, most of us just don’t have the self-discipline necessary to use credit cards responsibly. We live in an advertisement saturated consumer society that encourages us to spend, spend, spend at every possible opportunity, and everywhere we go. As a result, most Americans are up to their eyeballs in debt with the national […]

Written by prositesfinancial • Jan 7 • 4 minute read

Top 10 Easy Ways To Save Money Today

Many of us feel like we can never seem to make enough money to make ends meet. It might be drowning in credit card bills or trying to make a student loan payment, but there’s always a reason why we don’t have enough money. While it would be ideal to make more money at your […]

Written by prositesfinancial • Jan 7 • 4 minute read

Key Tips About Student Loan Debt

Overall, the need for student loan debt reform is clear. However, current economical conditions and increasing education costs don’t bode well for any significant changes in the near future. With the student loan debt now surpassing credit card and auto loan debt, it is more important than ever to take precautions and prepare as much […]

Written by prositesfinancial • Jan 7 • 4 minute read

How To Begin Building Your Credit

Starting you credit history is the perfect opportunity to begin good spending habits. With over 45 million Americans you are not alone in this pursuit, and there is a method to the madness. There is so much information out there it may be hard to decide where to begin, but after a little research you […]

Written by prositesfinancial • Jan 7 • 4 minute read

When Paying Off Debt Faster Actually Hurts Your Financial Strategy

Paying off debt as quickly as possible sounds like the ultimate financial win. You have probably been told that less debt always equals more freedom, and in many cases, that is true. However, personal finance is rarely one-size-fits-all. Sometimes, aggressively paying off debt can quietly work against your bigger financial goals. Understanding when this happens […]

Written by prositesfinancial • Dec 31 • 2 minute read

Tips to Create an Effective Chart of Accounts

Your chart of accounts is one of the most important tools in your financial system because it organizes every transaction your business records. When it is clear and thoughtfully structured, you gain a better view of your performance and you can make confident decisions based on accurate information. If the chart is cluttered or inconsistent, […]

Written by prositesfinancial • Dec 24 • 2 minute read

How Trust Accounting Differs From Traditional Bookkeeping

If you manage client funds, trust accounting is essential to staying compliant and protecting those you serve. While traditional bookkeeping focuses on your own income and expenses, trust accounting follows stricter rules that keep client money separate at all times. Understanding these differences helps you avoid costly mistakes and maintain the integrity your profession depends […]

Written by prositesfinancial • Dec 17 • 2 minute read

How a SWOT Analysis Supports Strategic Business Planning

When you begin shaping a long-term strategy for your business, it helps to understand where you currently stand. A SWOT analysis gives you a clear view of your strengths, weaknesses, opportunities, and threats. By stepping back and looking at each category, you create a stronger foundation for the decisions you will make in the months […]

Written by prositesfinancial • Dec 10 • 2 minute read

Organizing Business Records for a Smoother Tax Season

When tax season approaches, having your business records in order can make the entire process faster, easier, and less stressful. Proper organization helps you avoid costly errors, reduces the risk of missing deductions, and ensures your accountant has everything they need to file on time. Beyond tax season, good recordkeeping empowers you to make more […]

Written by prositesfinancial • Dec 3 • 3 minute read