In the News
Your Numbers ARE Talking
If there’s one thing I’ve learned working with small and mid-sized businesses, it’s this:
Your numbers are always talking.
But most business owners don’t know what they’re saying — or how to understand the stories they’re telling through patterns, small inconsistencies, cash flow surprises, unexplained margin dips, or processes that “mostly” work until one day they don’t.
The Number One Question Your Finance Pro and Bookkeeper Should Ask
It’s no secret that many individuals, and indeed, businesses, often wonder when they should rope in a professional to help manage their finances. “Is it time to hire a bookkeeper?” you might ask. “How do I know who would be the best fit for my business?” I encounter such business and bookkeeping questions frequently, and, though it may not be the satisfying answer you crave, the truth is,
Sign of the Times: Inventory Forecasting in 2022 and Beyond
If one thing has defined business in the past 24 months, it’s supply chain issues. Businesses across just about every industry have felt the impact of the pandemic in their supply chain. As some struggle to keep up with the product demand, others have an overflow of inventory with limited shipping containers to get items to their destination: the consumer.
Why Am I Seeing Profit But Have No Cash In My Bank Account?
Why am I seeing profit but have no cash in my bank account? If you find yourself asking this when you’re looking at your profit and loss statement, you’re not alone.
However, there’s no need to feel like you’re on the losing side of the equation.
Resolving this challenge means understanding the full picture of your financial standing across three key reports: balance sheets, cash flow statements, AND profit and loss.
How To Find The Right Bookkeeping Services For Your Business
As your business grows, you eventually arrive at a point where you need professional accounting and bookkeeping services to ensure your finances are in order so that you continue to build profit, pay fair wages, and avoid penalties.
You may have an in-house bookkeeper already — many businesses do. Perhaps it’s dawning on you that you’re not getting what you truly want out of your current arrangement as it relates to financial growth.
Bookkeepers, Accountants and Tax Preparers — How Your Financial Team Should Work Together
Are you working towards profit? If so, your business should be a well-oiled machine with automated financial workflows. For that to happen, you need an accountant and a tax preparer who can work together in harmony.
What you don’t want is an accountant VS tax preparer situation which could cost you more in the long run.
Your Guide to Accounting For S-Corps
No more double-taxation for you! You’ve converted your business to an S-Corp and can now enjoy the benefits of being a “pass-through entity.”
The biggest wins for you? No more self employment taxes, your personal assets are protected thanks to limited liability, and you now have an array of accounting options in front of you.
Are You Ready For Your Next Capital Purchase?
When it comes to making spending decisions in your business, you want to be ready. Whether that’s purchasing a new building for your business, business equipment, or even a new vehicle — it can be intimidating.
How do you know that you’re investing wisely?
Cash Flow Forecasting: Why It’s Important and How Your Bookkeeper Can Help
Knowing your business inside and out is essential to continue being successful.
You likely already know what to expect in future profits and losses, as well as the margin you will make on the products and services you provide, but do you know how and when changes to your sales and business costs will affect your cash flow?
Financial Workflows 101: Why You Need To Automate Workflows Today
Your finances are one of the biggest factors that influence the direction of your business. To reduce the risk of human error, save time, costs, and overhead, your financial processes need to be top-notch.
Imagine if there was a way to automate your finance processes, some sort of financial workflow that made things easier…what would that look like for you?
When Should You Hire or Outsource a Controller or CFO?
As a business owner wearing many hats, you may have been thinking about growing your financial team. Or maybe you’ve seen rapid growth, and you’re not sure how to strategically manage your finances. There are many reasons to consider bringing on a Controller or CFO to help manage your finances. Even if you do not fully understand the difference between a CFO and a controller, or if you need one, this post will help you figure out how to reach the next stage of your financial management.
How Outsourcing Your Bookkeeping Saves You Money
You’re a busy business owner, and you’re doing all the things. To get your business up and running, you’ve had to play many different parts. Unless you’re an accountant like I am, you probably didn’t get into business to do bookkeeping. Bookkeeping can be time-consuming and complicated for those who aren’t familiar with it.
Why Automation Will be Essential for 2021
As a business owner, chances are your business looks a lot different right now than it did at the start of the year. This year’s events drastically changed the way businesses operate, as everyone is rapidly accelerating the use of automated systems across the board in their companies—from touchless transactions to fully integrating automated accounting systems.
If you’re struggling to put systems in place, read on to find out how they can benefit your business and why automated accounting services are a vital business tool in today’s uncertain times.