Accounting
Have Your Layer Cake and Eat It Too
The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of meaning to them. When you can understand how expenses play a part in profit, you…
Read MoreMarketing by the Numbers
Two very important skills for entrepreneurs to master are marketing and finances. Combine them by understanding the numbers behind marketing, and you have an even more powerful understanding of exactly what makes your business tick. Key Numbers – Cost Per Client Acquisition Do you know how much it costs your business to bring in one…
Read MoreBoost Your Accounting Know-How with These Terms
Outsmart your accountant and other financial friends with these accounting-related definitions: Fiscal Year Most companies report their results on a calendar year, from January 1 through December 31. Some companies use a different year for reporting, and that’s called a fiscal year. For example, Intuit’s fiscal year runs from August 1 to July 31. A…
Read MoreGet Finance-Savvy with 10 Accounting Terms
It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset: Essentially, assets are what you own. These include your bank accounts, business equipment, and even the amounts that customers owe you. Revenue: Revenue is what you make. Another word for it is Sales. You generate…
Read MoreThree Costly Accounting Mistakes to Avoid
Small business owners have a lot on their plates, and time simply does not allow you to become an expert in all the areas required for running a business. Here are a couple of common mistakes that we see all the time. Correcting them will help you be more productive and profitable in your business.…
Read MoreYour Daily Numbers
Some numbers need reviewing on a daily basis, and one example of this is cash. When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to make sure all the collections hit your bank account so you can feel confident that…
Read MoreOops: Do You Owe Sales Tax and Not Realize You Do?
One of the side effects of our last economic slowdown was in state government budgets; states searched hard for new income, and many of them found a great source by cracking down on sales tax collections. Their new hot buzzword: nexus. Nexus means a connection that a business has with a state, and it has…
Read MoreFive Ways to Go Green with Your Accounting
With St. Patrick’s Day and spring arriving, March is a great month to have “green†on the mind. There are green shamrocks, green beer, the green of new vegetation, and there’s even green accounting too. Here are five ways to make your accounting a little more green. Business Receipts    When you spend money…
Read MoreHow to Avoid Seasonal Bumps in Your Cash Flow
Many businesses operate with seasonal peaks and valleys. Retail stores just completed their busy holiday season. Construction contractors are busy when the weather is good.  Accountants are very busy from January through April, but also experience a quarterly peak in July and October. Your business many have its own calendar of busy and slow times. …
Read MoreIs Your Business Using the Right Accounting System?
Have you ever tried on a shirt or jeans and found they didn’t fit at all? They looked great on the hangar, but that was the end of it. Accounting systems come in all sizes, shapes, and colors just like clothing; and just like clothing, some accounting systems fit your business better than others. It’s…
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