Managing cash flow is THE MOST IMPORTANT aspect of running a business, in my opinion. You need cash to flow into your business so you can pay the costs associated with running your business. It touches almost every part of your business. That’s why cash is king. It rules everything. And managing it can be…
Getting your financial house in order takes a lot of work. It takes a lot of focus and understanding to get everything organized in a manner that will help you understand how your business performed during the year. It’s not the easiest thing to do but it’s also not the hardest. If you put your…
One of THE MOST pressing issues business owners face is managing cash flow. The more cash that comes in the door, the more costs that have to be paid. And as your business grows it can become overwhelming to try and manage it all. “Which expenses do I pay right away?” ” Which costs can…
I constantly hear people say that they keep going over budget. They are frustrated and discouraged because they put so much into create and implementing a budget, all to find themselves constantly overspending. Usually when this happens, I find that the same reason exists regardless of the person or company. 1. Underestimating costs. This is…
As a business owner you want to be sure that you get paid timely. You also want to ensure that those payments actually get processed. The solution to that is to accept credit card payments. But you don’t want to have to pay those fees, EVEN THOUGH THEY ARE A COST OF DOING BUSINESS. Let…
Choosing an accounting software is like buying a car. There are so many makes and models and they all have similar yet different bells and whistles. And let’s not mention the colors and how pretty they are. So how do you choose? Well you are going to have to roll up your sleeves and start…
As a business owner, you want to be able to accommodate your clients in various ways. One of those ways is how you accept payment for your products or services. It would be a terrible thing to lose a sales because you don’t accept a certain payment method. There are basically only three forms of…
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…
One of the hardest things to get a handle on as a business owner is your finances and how you can support your business and your personal life. You have to have a good plan in place in order to be able to still handle all your expenses consistently without any issues. So the first…
Helping other people with their record keeping has taught me one thing – people are making some serious mistakes when it comes to managing their cash flow. And with technology constantly changing, the mistakes are evolving. No matter how large or small the company, the mistakes are always the same. And with cash flow being…
