Business process improvement is the developing of a systematic approach to helping an organization optimize its underlying processes to achieve more efficient results. It is the methodology for process redesign and process reengineering. It is a systematic way for businesses to become organized as they grow and develop by looking at their current processes, documenting…
Last week I talked about the importance of using account numbers. One of the main reasons is that it creates structure and allows you to group your transaction based on the five main categories of accounting. There are five main chart of account categories that are the foundation of an accounting numbering system. These five categories…
I was recently working on a clients books and noticed that they didn’t use account numbers. And I asked them why, they didn’t have any reason. They simply replied “Why do I need them?” The Chart of Accounts is the framework to your reporting system in your business. This framework is a complete list of…
Payroll processing may not be the most glamorous aspect of a business, but it’s a complex and extremely necessary element of a successful operation. Because payroll has a specific level of importance within a company – large or small – a certain amount of respect is in order regarding the intricacies involved. Finding ways to…
Software programs are evolving. You no longer have to buy it off the shelf. You can purchase it online. Have access to all your financial information at your fingertips no matter where you are in the world. But which one is better? Desktop or Online? Let’s explore the differences between the two and see who…
So you want to work less but still make more money. That’s the entrepreneurial dream. The saying goes “success doesn’t come without a little work.” And that’s true. But once you reach the success plateau, then what? Create leverage. Leverage occurs when you begin implementing systems in your business that allow you to create an…
Many freelancers begin freelancing full-time before they’re really ready. They jump into freelancer either out of desperation or because they expect freelancing to be something that it’s not. There’s a better way. It’s called part-time freelancing. There are some definite advantages to beginning your freelancing career as a part-timer. We’ll share over 15 of those…
One of my favorite clutter-clearing sayings comes from Gail Blanke, author of Throw Out Fifty Things: You can’t grow if you don’t let go. Sage advice, whether you’re clearing out ill-fitting suits, getting over a breakup, or starting a new career. But we all have trouble prying our fingers from the stuff we love, even when it doesn’t…
You’ve heard it before – CASH IS KING! It’s the driving force in every business. If not managed properly, you will be unable to avoid a liquid financial crisis. Cash flow management, while essential for all businesses, is a fundamental pillar specifically for small businesses. Not managing it properly can be detrimental and lead to…
I recently did some random surveys, where I asked people questions about budgeting. Budgeting is a necessary evil but no one wants to do it and I couldn’t figure out why? Because it’s a very simple process. I even shared some simple steps in my post titled How To Create a Budget in 3 Easy…
