When I worked at a public accounting firm, one of things I liked but didn’t like was going to clients. I wanted to work from close to home and not have to deal with traffic every day. While DC, MD & VA are a hop skip and a jump from each other, when you…
Have you ever rushed your payroll just so your employees were paid on time and either made mistakes or missed someone’s payment? If so, you know that it is difficult because the task of payroll can feel like a full-time job depending on how many employees you have. So what do you do? Many people…
Running a business takes more than just skills and talents. It takes a ton of systems to help keep your business running like a well oiled machine. You need systems for you accounting department, of course; systems for your administrative details; systems for your operations and systems for marketing. One of the most important systems…
Performing a SWOT analysis when you start creating or building your business is an important key to the success of your business. A SWOT analysis is a strategic planning method that is typically used for any major decision making situation. It consists of analyzing and determining what internal and external factors have both positive and…
I almost didn’t right a blog this week. Why you ask? Well if I can be real – I didn’t feel like it. It’s the first week of school, I had to do my blog, my video & my ezine, I had to prepare for my last a business development class early next week, I…
A business plan is no easy task. It is the most important document a small business owner should have and the one that most small business owners don’t have. A traditional business plan is minimally 20 pages long and can takes months to prepare. And that’s why most SBOs don’t create one. But what if…
When you start your own business, you face many challenges when you first start out. What are you going to sell? Who are you going to sell it to? Where and how are you going to sell it? And what are you going to charge? These are all tough questions to answer when you are…
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…
