Patricia Anderson No Comments

Three 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.Mismanaging receipts Maintaining receipts are challenging for everyone, but the IRS requires that you have proof of business expenditures.  Periodically, we come across people who feel that keeping Read more [...]
Patricia Anderson No Comments

Your 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. Daily Numbers It’s recommended to make sure all the collections hit your bank account to feel confident that no errors were made.  Furthermore, a daily cash reconciliation report will serve both needs very well. A daily cash report will vary depending on the type of business you have, but it will look like Read more [...]
Patricia Anderson No Comments

Mid-Year Milestones

Wow, can you believe that 2015 is half over already?  Now that we’ve crossed the halfway mark, it’s time to see if we’re on track for our 2015 goals.  To do that, we need to see if we’ve met our mid-year milestones. Managing By Milestones  A milestone, in project management terms, is simply a point along a project timeline.  It’s marked so that project managers recognize when that portion of the project has been completed.  We can use milestones to see how we’re faring toward Read more [...]
Patricia Anderson No Comments

Ten Excuses to Have a Sale

If you need cash fast, there’s nothing like having a sale to increase your bank account quickly.  Here are ten excuses you can use to tell your customers you’re having a sale. 1.  It’s Your Birthday (or Your Business’s Birthday) We all feel generous on our birthday, so why not have a sale on your special day.  You can even tie to discount amount to your day of birth.  For example, if you were born on the 14th, then you can offer customers 14% off. Similarly, you can hold an anniversary Read more [...]
Patricia Anderson No Comments

Does Your Accounting Department Have Holes in It?

You’ve got someone to do your federal and state income tax returns, and you have a bookkeeper. So that’s all that a small business needs when it comes to having an accounting department, right? Wrong. Large companies have many functions in their accounting departments, and small and mid-sized businesses need many of the same functions as well. They just won’t need as many staff to handle them. Many of these functions will fall on the CEO, but a smart CEO will find a way to delegate some Read more [...]