3 Essential Cash Flow Management Tips for Your Business
In the business world, cash flow management is vital to reaching profitability. Surprisingly, many entrepreneurs don't seem to be aware of this simple fact. They don't take any steps to manage their cash flow, which usually leaves them with an empty bank account. The good n ... read more
Introduction to Key Metrics – Part 1
We recently had a new client approach us with some questions on how they could measure whether their business was heading in the right direction. They have a store front florist business with a focus on events but special occasion gift baskets were starting to make a significant contribution to their revenue. They felt it would be a good time to start trying to understand where their revenue w ... read more
Fixing QB problems by Deleting or Voiding Transactions – Don’t press delete just yet.
For a lot of new clients that come to us they struggle with trying to figure out how their last year statements changed or how an already reconciled bank statement is no longer reconciled. Sometimes it can take hours of reviewing transactions to figure out what has happened. Full disclosure, I am old school and learnt accounting software starting with ACCPAC for DOS. And I have to say, I ... read more
Why you should Embrace Virtual Bookkeeping now…or at least start thinking about it!
Technology has transformed almost everything that we do on a daily basis. To a large extent this has resulted in our lives becoming easier and allowing us more time to focus on what is relevant. Over the last decade improvements to financial technology has allowed bookkeepers to improve their relationship with their clients by providing the opportunity for added value, better collaboration, im ... read more
Cash Flow – Where did all my money go?
My daughter asked me that question just recently after completing her personal taxes. We’ve all had a similar thought – your business is making money, at least you think it is, yet there is no surplus cash. Each month you need to figure out how to pay the bills. It can be worrying and frustrating. The simple answer is that it all comes down to cash flow. It is a fairly easy concep ... read more