Removing The Financial Blindfold

Last month I did an experiment with some of my clients to see who was actually looking at the financial statements that I send them every month.  I discovered that only 15% of the clients looked at their financial statements.  I’ve heard all sorts of reasons why they don’t look at them and have even […]

Importance of Great Bookkeeping

All business owner’s have to do some form of bookkeeping.  It may be recording transactions daily, or handing a pile of receipts and bank statements to your accountant once a year.  Just because there are parts of the bookkeeping process that you may have to do, overall most of your bookkeeping should be outsourced to […]

Common Bookkeeping Mistakes

The majority of businesses have some type of inventory, but a large percentage do not track it or check it for accuracy.  There are all sorts of reasons why you should be tracking and maintaining your inventory on a regular basis (meaning more than once a year). Accounting Software Many software companies advertise that their […]

Stop Mixing Funds!

Small businesses start out for many reasons, but I see a lot of them start from a hobby.  Many more start by a need for income, and a few more start because of an opportunity that they can’t pass up.  No matter what the reason is for starting your business and no matter the size […]

Controlling Cash

Cash flow is a huge part of every business owner’s daily lives.  It can cause stress and anxiety, or it can be a tool that can be used to help a business grow and thrive.  Which one is it for you? Cash Flow Basics I talk to a lot of business owners who are scared […]

Why Look At Financial Statements? Part 5

No matter how you got started with your business, the majority of business owners only continue to run their business so they make money.  There are a few fortunate people who get to run their business as a hobby and have other sources of income to pay the bills, but those people are not the […]

Why Look At Financial Statements? Part 4

Cash flow can be a huge stress to many business owners.  If your business is a seasonal business keeping an eye on cash flow can be the only thing that keeps your business alive. Make Sure You Have Cash to Pay Your Bills Your business will never survive if you don’t have enough money to […]

Why Look At Financial Statements? Part 3

As a business owner you have to make decisions almost daily.  Do you need to order inventory?  Do you need to talk to your employee about their tardiness?  Is your marketing plan working?  Can you pay the bills this month?  Looking at your financial statements can help with a lot of decisions that you have […]

Why Look At Financial Statements? Part 2

Some business owners know that they should look at their financial statements, but only do so once a year at the end of the year.  They may understand that is the only way to really see how their business is doing financial, but think looking at them once a year is helpful enough. Plan for […]

Why Look At Financial Statements? Part 1

A lot of clients come to me because they want their finances in order for taxes.  They don’t look at their financial statements on a regular basis, and sometimes never at all.  They want to make sure they’re getting all of the deductions for taxes and need to have everything organized so their accountant can […]