When you first begin your business, it can be challenging to know where to begin. There are so many different things you need to think about, analyze, and understand that it’s easy to get lost in the details. However, one of the most important aspects of creating a successful business is understanding your balance sheet … Read more
So I got a couple of questions over the last couple of weeks. What can I deduct from my taxes? Many struggled because of a lack of understanding of what business expenses are. So we decided to address that situation and give you some insight into what a business expense is from the IRS point … Read more
Cash flow is one of the most important aspects of any business operation. It is the lifeblood of any organization, and its effective management can be the difference between success and failure. In this blog post, we will explore the power of cash flow, how to understand it, measure it, and leverage it for maximum … Read more
The March 15th deadline is approaching and businesses are paying attention to LAST YEARS financial results. In the episode, we discuss how Client Accounting Services (CAS) are essential for business owners to achieve their goals in the current year.
When I ask business owners about their AR, they normally respond with either, “We invoice our customers.” or “We collect payments on a regular basis.” I’m always glad to hear those responses. However, when I ask, “What is your accounts receivable turnover?” or “How many days does it take for you to collect?”, the business … Read more
Your company’s profitability depends not only on sales but also on effective cost management. Are you adequately addressing the cost side of the business equation? Analyze Your Cost Structure You probably can readily identify the products and/or services that are generating your greatest sales volume. But can you identify all the costs associated with providing … Read more