UPDATE The video tutorial referenced under Accounting Tips and Reminders is now ready and will be published on YouTube Wednesday, November 17 at 4:00 p.m.! —————————————————————————————————- Mark had been poring over his profit and loss statement for hours trying to figure out where he was losing money. He could see his sales were down and

Cash flow is the ‘new black’ for 2020…but how do I manage it? Cash flow has a profound impact on the entire business. However, there’s still some confusion surrounding the concept and its practical application. Understanding how to manage cash flow goes hand-in-hand with business success, while ignoring it can lead to disastrous results. How

Cash flow is the ‘new black’ for 2020…but why is it important? Cash flow has a profound impact on the entire business. Despite this, there’s still some confusion surrounding the concept and its practical application. Understanding cash flow goes hand-in-hand with business success while ignoring it can lead to disastrous results. Balancing incoming cash with

Cash flow has a profound impact on the entire business – but there’s still some confusion surrounding the concept and its practical application to your business. Understanding cash flow and cash management goes hand-in-hand with business success while ignoring can lead to disastrous results. Cash Management Cash management occurs when a person or process manipulates

Cash flow is the ‘new black’ for 2021…but what exactly is it? Cash flow has a profound impact on the entire business – but there’s still some confusion surrounding the concept and its practical application to your business. Understanding cash flow goes hand-in-hand with business success, while ignoring it can lead to disastrous results. Cash

Often times I am asked by new (and not so new) business owners, “What do you recommend I use to keep track of my business transactions?” Do a search for accounting software and you will be overwhelmed by the options. However, despite the wide array of options out there, QuickBooks Online is still my top

If I asked you how much money your customers owe you, would your answer be accurate? When your Accounts Receivable numbers are accurate and up to date, you become more confident making business decisions. You can base decisions on financial statements that you can trust. Identify Balance Sheet Inaccuracies Basically, Accounts Receivable is a line

Today we have more choices and strategic information at our fingertips than ever before. Here’s how to make it work for you. Making business decisions can be challenging when there are so many factors at play. Timing can play a huge role. So can due diligence in vetting every potential decision you could pursue.

Many of you know how I left the corporate world to be a stay-at-home mom. I chose to make less and live more. This was a major life change in so many ways, but one I don’t regret. That’s not to say that my family and I didn’t experience some bumps along this new career path. Obviously, our bank account suffered. So, we simplified our lives and relied more on savings.

Keeping the books for a small - to medium-sized business is overarching process that separates into individual tasks. Over my years as a bookkeeper, I’ve come to identify the No. 1 bookkeeping task you don’t want to leave out. Unfortunately, your financial reports are unreliable if you do. What bookkeeping task could be so important? Reconciling your books. Even in the days of online banking, it’s critical to do these reconciliations.

If I had a dollar for every time I heard, “Nothing in life is free,” I would be a rich woman. It was a phrase that echoed in my head time and time again as we waded through the relief options offered to small businesses last spring in response to the pandemic. While my clients, and many small businesses like them, were scrambling to apply for relief before funds ran out, we were asking ourselves things like: