It continues to amaze me how many businesses don’t want to create a budget. They would rather operate their business blindly than to create a profitable plan so they can prosper in the upcoming year. Not having a budget can cost you a lot of time and money. Unnecessary time and money. So I am…
We are all in business to make money right? But we are not in the business of paying Uncle Sam. We want to keep as much of our money as we possibly can, especially from him. So as a small business owner, what do you do? You learn the difference between cash basis and accrual…
Every year a gazillion tax preparers and tax accountants lock themselves in a room from mid-January until April 15th and push out as many tax returns as they possibly can. Tax returns that show you how much money you owe Uncle Sam or how much he owes you if you’re lucky. Included with your return,…
Every person in the world feels that they do not have to do right by the tax man. So why would you think someone running a business would be any different? Every day business decisions are made that revolve around cash flow and who always gets the short end of the stick? The owner’s salary…
Everyday we wake up and go to the office to earn a paycheck. Whether it’s a paycheck as an employee or a paycheck as the owner of our own company. Our goal is to make income/money so that we can support our families. And maybe even a little entertainment as well. All work and no…
In order for your business to grow you need to be monitoring your metrics. You cannot expect your business to magically take flight if you have no idea what is going on in it. And by going on I don’t mean just in operations because that is just one side of the house. You need…
The past couple of months I have been approached by several business owners looking to get QuickBooks. And some of the questions they always ask are “Why can’t I keep using excel?” or “Do you really think I need to get QuickBooks?” To which I always answer is “Um YES!” Using an accounting software awards…
I recently came across this post. And while I am not sure when it was written, I still deemed it important to post. While the content was created for budgeting for personal finances, every single point is relevant to business finance budgeting as well. Every point was so dead on that I couldn’t have said…
So I have shared quite a bit with you about how to manage your finances and creating budgets. But what you really want to know is how to increase your bank balance – permanently. So here’s the one sure fire way to increase your bank balance. SAVE Yep that’s it. How you ask? The same…
Accounting is the recording of financial business transactions in a systematic way. It encompasses the process of summarizing, analyzing, and reporting these transactions in a comprehensive way. It is one of the most important jobs or tasks of a business. This act of organizing financial data can tell you all sorts of things about your…
