Patricia Anderson No Comments

Beyond Saving Trees: New Trends in Receipt Management

Accounting automation has come a long way in the last few years, and the process of handling invoices and receipts is included in those changes. As a result of automated accounting, no longer is there a mountain of paperwork to deal with. In this article, we’ll explain some of the changes in this area. Vendor Invoices Most invoices are now sent electronically, often through email or from accounting system to accounting system. In addition, some accounting systems allow the invoice document, usually Read more [...]
Patricia Anderson No Comments

Cool Social Media Apps: Instagram

With over 400 million active users monthly, Instagram could be a great opportunity to showcase your business. It’s a mobile app where you can share photos and videos. Instagram is owned by Facebook and is considered one of the major social media platforms. Instagram is a natural app to share photos of your products, team, customers, or office in order to promote your business. Since more than half of all Google searches are now mobile, it just makes good business sense to maintain a presence Read more [...]
Patricia Anderson No Comments

Add a VIP Revenue Stream to Your Business

If you’re looking for more ways to bring in additional revenue, then a VIP revenue stream is one option for many businesses. Here are a couple of examples: A plastic surgeon has a long waiting line of patients. The surgeon sets up a special membership fee of $3,000 per year for patients who wish to work with her. These patients get first access to her appointment schedule. They get priority surgery dates and personal care. Her other patients that do not pay are able to see her physician assistant. Read more [...]
Patricia Anderson No Comments

5 Metrics to Gauge Your Business Performance

Sometimes, the most telling numbers in your business are not necessarily on the monthly reports. Although the foundation of your finances revolves around the balance sheet and income statement, there are a few numbers that, when known and tracked, can make a huge impact on your business decision-making. Here are five: 1.  Revenue per Employee. Even if you are a solo business owner, revenue per employee can be an interesting number. It’s easy to compute: take total revenue for the year and divide Read more [...]
Patricia Anderson No Comments

What’s Your DSO?

If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net credit sales * 365. DSO is measured in days and it represents how many days it takes to collect the customer invoice balance and convert it to cash. Whether the DSO measure is “good” or not varies by industry Read more [...]