Google reviews are essential for prospects looking for background information. Having an abundance of Google reviews give them an overall feel of what you do and how you do it. These reviews are testimonials of the people you do business with. It becomes even more important today because it’s very easy to receive a couple…
Let’s explore the different parts of your accounting system, how all the pieces come together and how you can design an accounting system to best fit your business. Often in the process of wanting a more “robust” accounting system or wanting specific Key Performance Indicators/reports, business owners can look at different solutions to receive the…
Business Bootcamp & Numbers The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It, Michael E. Gerber A must for every new business owner. The Road Less Stupid, Keith J. Cunningham This needs to be your business bible! Read it, reread it and refer to it. The Ultimate Blueprint for…
The Importance of a Sound Financial Reporting System Receiving an accurate and timely financial statement each month is based on the reliability of your financial reporting system. A sound financial reporting system ensures proper checks and balances, an audit trail, and the financial statements needed to make better business and tax decisions. The following questions…
(For more information on how it works, watch this video)
There is a language to taxes, and unfortunately, only accountants have been primarily taught that language. Business owners want to know what they don’t know when it comes to keeping more of what they make. After all, it’s not how much you make, but how much you keep: reducing your taxes and keeping as much…
KPIs to Increase Profits & Cash Flow Part 1 Below is an illustration of the ABC Company whose Cost of Goods Sold rose from $6 a unit to $8 a unit as it expanded its production from 1 Unit to 2 Units. A 33% increase (2/6) took its COGS from 60% of sales to…
5 Factors that Determine Your Tax Position Many different factors determine your tax position or how much tax you owe. Below are the five main factors that determine your tax position. Total earnings or the total income you made for the year; this includes your wages, salary, commission, dividends, capital gains, business income, retirement…
Keeping Score: Cash vs. Profit One of the most commonly misunderstood concepts in business is, “Why is my profit position different than my cash position?” Profit and cash flow are both essential elements of a business, but they are not the same thing. To manage your business, you must understand the difference between making money…
How to Use KPIs to Increase Profits & Cash Flow When it comes to understanding your numbers, you may be asking yourself: what are Key Performance Indicators (KPIs), and how do I use them to increase cash flow? Let us provide some insight as we highlight a couple of essential tips for understanding KPIs. …
