Understanding profitability is a key task associated with managing the finances in your business. You need to understand it at a deeper level than just total revenue minus total expenses. You need to know your profitability on a per project or per customer basis. Just like many other business owners, you are going about your…
I hate paper. Unless it is green with pictures of presidents on it. Don’t judge me – you feel the same way too. But seriously – I hate paper and how it takes control of my desk, my dresser and my kitchen table. We, and by we, I mean you and me, consume so much…
About a month ago, I did a #techtalktuesday tip on how to run financial reports in QBO. Well this week I am going to share a video on how to run financial reports in Xero. As I mentioned before, one of the questions I get most often asked is “can you send me the most…
Today we are going to talk about the last pillar – Financial Strategy which focuses on analytics, pricing and strategies to grow your business. See most people think that you can just put up a shingle and poof business will come. But it’s just not that simple. So if you think that’s the way it’s going to…
One of the great things about working in the cloud is that it makes it super easy to collaborate with others. Being able to work in your file simultaneously is a big time saver. Your accountant no longer has to come to your office for simple easy questions or even training. Once they have you…
This is the third week now that we are talking about the 4 Financial Pillars of Success™. These pillars are what I believe are the foundation for your businesses financial success. We have talked about pillar one which was Financial Record Keeping and pillar two was Financial Management. This week we are talking about…
Last week I introduced you to my 4 Financial Pillars of Success™. If you recall these pillars are what I believe are the foundation for your businesses financial success. Last week we talked about pillar one which was Financial Record Keeping. Today we are going to discuss pillar two which is Financial Management . This pillar…
Often times clients and business owners I train on QuickBooks Online ask if there is a way to close the books on a monthly basis in QuickBooks Online. And the answer is yes. The main time to close your books is at the end of the year after the tax return is completed. Once your return…
We all agree that every strong structure needs a solid foundation to prevent it from crumbling to pieces. This foundation is the basis or shall I say is necessary in order for a structure to withstand the earthly elements and be around for awhile. Well it’s the same in business. Your business needs to have…
How many times have you looked at your bottom line and you were shocked and amazed? You thought to yourself “where did the money go?” Well trust me when I tell you, you are not alone. Every year millions of businesses, large and small, have this happen to them. How do you prevent it you…
