Manage My Business Credit

  • CreditBuilder™: Add good payment history to impact your D&B® scores
  • CreditMonitor™: Monitor your credit file in real time with detailed info about changes to your D&B scores
  • CreditSignal®: Receive free alerts to changes in your D&B business credit file

Manage My Business Credit For Me

Monitor Another Company's Credit

Not sure which product is right for your business?

Our Credit Advisors are standing by

to assess your needs and help point
you in the right direction.

Call Today Call 800-700-2733


Ask about our Concierge service.

Business Directory

Business Services

  • VERIFIED™: Get your business data VERIFIED™ to help protect your business identity online
  • Business Shield: Helps protect your company by alerting you to potential warning signs of business identity theft
Help manage your
business identity and
reputation


Let us distribute your VERIFIED
information
to up to 90% of US
consumers searching online.

Call Today Call Today! 800-700-2733

Sign up for FREE today!
Help protect your business identity against inaccuracies and business misrepresentation online and across social media properties
Get it now text

Enterprise Solutions

If your company is looking for a custom enterprise data solution, contact us at
1-800-264-0947 or businessdevelopment@dandb.com
Lead Advisor
Better Data, Better Results
Whether you're a list professional or a first-time marketer, our lead experts will work with you to help you target, segment, and select the list most likely to work for you. Learn More.
Call today 1-855-455-8039

Free D-U-N-S Services

Expedited D-U-N-S Services

  • Small Business Starter™: Promote your business online and get an expedited D-U-N-S and business credit file
  • DUNSFile™: Get a D-U-N-S and basic business credit file in 5 business days or less
Company Update
Update your company info today. It's free!
Review and update your existing D&B® credit report, dispute inaccuracies, add financial statements, and review public filings.

Don't have a D&B report? Get your FREE
D&B D-U-N-S now.
Get Started

My Bookkeeping System Is a Box – Now What?

business accounting tipsIn the CPA world, we call the accounting method of throwing all the receipts in a box “shoebox accounting.” You know what I’m talking about. You throw all your receipts in a box, and a few times during the year, you pull it out and vow to spend the weekend getting caught up.

But the weekend comes and goes, and it never does really get caught up until you’re right at a tax deadline. Now what? Well, let’s take a step back and look at how you got here. There are generally 6 approaches to bookkeeping for the busy small-business owner.

Approach #1: Ignore it. You’ll deal with it when you have time.

PROBLEM:  You lose all ability to make informed decisions for the business by having to wait to get a financial statement. By the time you finally get one, it’s too late to do anything about the trends you see.

Approach #2: Box it all up and send it to your CPA at the end of the year.

PROBLEM:  You lose all ability to make timely, informed decisions — PLUS you pay the highest CPA rate at a time when he or she really doesn’t want to deal with it.

Approach #3: Do-it-yourself. You work long nights and weekends to get the bookkeeping done.

PROBLEM:  Chances are you’re not a top-notch bookkeeper. The only reason you’re doing the bookkeeping is because you’re trying to save a few hundred dollars, or maybe because you’re the only one you trust with your information. As far as the cost:  Ask yourself how much your time is really worth. Could you use those hours to find more business or fulfill on more contracts?  You may be way under-valuing your time if you spend your time trying to figure out your bookkeeping. And as far as trust:  Do your due diligence to make sure the person or company has the integrity and ethics you need.

Approach #4: Hire a family member or friend to get it done.

This is great, as long as your family member or friend has real, honest-to-goodness accounting education and experience. Otherwise, if it’s someone who took a class years ago but never really worked in the field, you may end up with a major problem at the end of the year. And, if you’ve ever worked with family in your business, you know that could come with a whole new set of problems.

Approach #5: Hire a bookkeeper who works for you.

You may be at the point where it’s time to hire a bookkeeper as an employee. Ultimately, every business will likely have an accounting department. There is an intermediate step, though, that can be a major problem. In between having an outside company do the bookkeeping, and having a full-fledged accounting department (2 or more people), there is a risk to having just one bookkeeper who does it all. The problem is that one bookkeeper who controls everything also has an open checkbook, if he or she decides to take some money.

Before you say, “That will never happen to me!” please consider this. Over half of all businesses deal with an embezzlement, so the chances are good that you will too. And the person most likely to take money is the bookkeeper, in a one-person bookkeeping department inside a small business.

Approach #6:  Hire an outside bookkeeper.

This is, without a doubt, the easiest solution. You need to make sure the bookkeeping company knows what they are doing, and if they work virtually, like our firm does, that they have a proven and safe system for data transmission.

You will also likely find that an outside bookkeeping firm can be much cheaper then having someone in house. You don’t have to furnish a desk, a computer, training, supplies, admin support, or computer support.

The worst approach is to simply ignore it. Financial statements tell you how your business is doing. Without that feedback, the best you can hope for is good luck.

Author:

Diane Kennedy, CPA US Tax Aid. Diane Kennedy, CPA helps business owners legally pay less tax. She’s the New York Times best-selling author of “Loopholes of the Rich,” “Real Estate Loopholes,” and 7 other best-selling financial and tax books. She’s also a business owner and real estate investor. Her motto is “It’s Your Money. Keep More Of It.”