Profit and Loss

3 metrics you are focusing on that may not help improve your business – Revenue, Profit, Growth

Here are some metrics that are good metrics but sometimes business owners rely too heavily on them instead of really trying to improve the business.  Having a healthy business means that it is a sellable asset.  If you are a startup it will be different than a small business as they have different exit criteria. Read more about 3 metrics you are focusing on that may not help improve your business – Revenue, Profit, Growth[…]

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Podcast on Bookkeeping, Budgeting and Profitability

I had the pleasure of being on the Rialto Marketing Podcast with Tim Fitzpatrick.  We covered some great topics including – How can people be more efficient with bookkeeping? What do people get wrong when it comes to budgeting and planning? How do companies improve growth, profitability and. cash flow? Here is the Facebook live Read more about Podcast on Bookkeeping, Budgeting and Profitability[…]

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How to classify transactions for bookkeeping

For most CEOs one thing they struggle with for bookkeeping is how to classify transactions – should it be an office expense, cost of goods sold, or ask my accountant?  Luckily there are some guidelines to follow from a tax perspective and so your financials are easy for someone to look at and understand how Read more about How to classify transactions for bookkeeping[…]

ERC

Employee Retention Credit (ERC) Overview

Now that PPP2 has come and gone for the most part we are seeing more questions for help on the Employee Retention Credit (ERC) to see if they are eligible and how to apply.  We will cover both in this article but first lets give a little background. What is the Employee Retention Credit (ERC)?  Read more about Employee Retention Credit (ERC) Overview[…]

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What are bookkeeping services?

Bookkeeping is a very general term and has many different definitions kind of like a handyman.  Some handyman can repair everything from HVAC to plumbing and painting, while others really only do smaller jobs like change out locks or fix a garbage disposal.  Bookkeeping is the same way.   Some bookkeeping firms only provide basic bookkeeping Read more about What are bookkeeping services?[…]

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5 Key Metrics to Check in your Five Year Plan

Here are my favorite metrics to check when I finish creating a five year plan.  These metrics are also great to check for annual budgets or even monthly forecasts. Revenue Growth Year over Year Percentage – Revenue is the key to any business and understanding how it changes year over year gives you insight into Read more about 5 Key Metrics to Check in your Five Year Plan[…]

The CARES Act

How to Account for CARES Act Money – PPP and EID, Loans, Grants, Advances

There continues to be a lot of conflicting information regarding the different programs associated with the CARES Act.  We will continue to update this post as we find out more however this money is coming in or has already come in and needs to be accounted for immediately so we wanted to share some of Read more about How to Account for CARES Act Money – PPP and EID, Loans, Grants, Advances[…]

Cash Flow Forecasting

How to Create a 13 Week Cash Forecast

In this video I explain how to create a 13 week Cash Flow Template, Customer Forecast and AR Forecast.  I also share lots of good excel and QBO tips along the way 🙂 If you need help or have questions, Finance Pals would love to give you some free tips and advice over a 30 Read more about How to Create a 13 Week Cash Forecast[…]

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Finance for Startups – Proforma, Bookkeeping and Funding

In this Regis Innovation Challenge video on Finance for Startups, we will discuss:  How Much Money you Need, What you Need to do to Prepare for Taxes Next Year and will also look at How you are Going to Fund your Business. To answer those questions we look at proformas, bookkeeping and funding options. If Read more about Finance for Startups – Proforma, Bookkeeping and Funding[…]

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Are you Making Customers Happy?

I recently saw two incidents where a restaurant and a coffee shop lost potential customers.  More importantly they missed a chance to make a customer happy which could have resulted in gaining a loyal customer and word of mouth referrals.  In both cases the customer requests were not anything unreasonable and could have been a Read more about Are you Making Customers Happy?[…]