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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?[…]

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How to get free money for payroll costs – PPP Covid-19

The Coronavirus is out and we are all adopting to zoom calls and helping teach our kids school.  The government has come out with lots of programs to help.  To us the programs that give you money seem like the best so we are going to tell you how to get money for your business Read more about How to get free money for payroll costs – PPP Covid-19[…]

Multiple Scenarios

Why you need more than 1 budget

I was recently working for a company building their financial model to prepare for a series B raise.  We started by building a base case, which continues the current trends in a ‘business as usual way.’  We then started layering in a growth case: What if we got additional money for sales or IT projects?   Read more about Why you need more than 1 budget[…]

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StandingOut Podcast with Katrina Padron and Paul Heffner

This is a podcast I did with Katrina Padron who I know from 10.10.10.  Katrina is the CEO of NorthStar HQ and the Co-Founder and CEO of Meet Jointly. We discuss: The beginning of Finance Pals The pros and cons of being an entrepreneur Why people outsource their bookkeeping and should you? The startup community Read more about StandingOut Podcast with Katrina Padron and Paul Heffner[…]

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Crime Scene Finance – Blue Bloods Style

The world of finance is a lot like a crime show.  In both, you need to understand what happened in the past and for certain crimes you also need to understand and predict what will happen in the future so that you can catch the criminal. When a crime is committed,  “responding officers” are the Read more about Crime Scene Finance – Blue Bloods Style[…]