Welcome to the Blog
Welcome to the Harper & Faye blog, your go-to resource for expert advice and practical tips on managing your finances. We're thrilled to have you here and look forward to helping you navigate your financial journey with confidence and clarity.
Making Sense of Your P&L: Why Organization Matters More Than You Think
If you’ve ever opened your Profit & Loss (P&L) statement and immediately felt overwhelmed, you’re not alone. For many business owners—especially those juggling client care, team management, and daily operations—looking at a wall of numbers can feel more confusing than clarifying.
You Don’t Need 7 Bank Accounts: Why 3 Is Enough to Manage Your Business Finances
If you’ve been in the small business world for any amount of time, you’ve probably heard people talk about Profit First or elaborate cash flow systems that require multiple bank accounts — sometimes as many as 5, 7, or even 10.
Now, let me be clear — I’m not anti-Profit First. For some businesses, that structure works. But for many business owners, especially those running service-based businesses, medical spas, or aesthetics practices, having that many accounts can quickly turn into unnecessary complexity.
Cash vs. Accrual Accounting: Which Is Best for Your Small Business?
One of the first major decisions you'll face when setting up your small business’s financial system is choosing between cash accounting and accrual accounting. Both methods offer different ways of tracking income and expenses, and the choice you make can have a significant impact on your business’s financial reporting, tax obligations, and day-to-day management.
Tax Deductions Every Small Business Owner Should Know About
As a small business owner, maximizing your tax deductions can have a significant impact on your bottom line. With so many potential write-offs available, knowing which ones apply to your business can save you thousands of dollars when tax season comes around. However, navigating the world of tax deductions can feel overwhelming without a clear guide.
How to Handle Payroll Taxes: What Small Business Owners Need to Know
Payroll taxes can be one of the most complicated aspects of running a small business. If you're an entrepreneur with employees or contractors, handling payroll correctly is crucial to avoid penalties and stay compliant with tax laws. Between distinguishing employees from contractors, keeping track of deadlines, and filing the proper paperwork, the process can feel overwhelming.
Why September is the Perfect Time for a Bookkeeping Clean-Up
As summer comes to a close and we have break in our schedules before the hustle and bustle of the Holidays hit, September is the perfect opportunity to get your business finances/books in order. With the end of 2024 coming fast, now is the ideal time to take a step back and ensure your books are clean, accurate, and ready for whatever the end of the year brings. And if you are anything like us its holidays parties, traveling or lots of celebrating!
