Which way is your cash flow going? When you understand that, you’ve gone a long way in determining what the future for your business and your investments are. Let’s start by looking at the cash flow cycles of the poor, middle class and rich. So we’re going to look at what creates a poor, middle [...]
A virtual bookkeeper is someone who assembles your records, prepares financial statements, handles payroll – everything you expect your regular bookkeeper to do, but they do it a little differently. A virtual bookkeeper does all that a bookkeeper who shows up your office, but from his or her own office. Some of the benefits of [...]
A former North Port Area Chamber of Commerce employee has been accused of defrauding her employer for more than $22,000 during a period of two years. According to information made public by authorities, Lisa Lee Rowe, 37, deposited 29 falsified checks into her personal account. On July 2010, after a long investigation, she turned herself [...]
There are only five general ways to get more cash from your business: (1) Increase Sales, (2) Spend Less, (3) Reduce Accounts Receivable Days, (4) Increase Accounts Payable Days, or (5) Reduce Inventory Days Which is right for you? Well, it depends on what your financial statements say. Increase sales seems like a no brainer, [...]
One of the conversations I have with a few folks every year is that cash does not equal income. It usually goes something like this: Prospect: “I don’t have to worry about taxes this year.” Me: “What does your Income Statement show for income?” Prospect: “I’ll get to that someday. But I know that I [...]
All too many business owners measure their business results by their bank account. But if you’ve been in business for any length of time, you know that cash rarely equals income. And even if you know how much income your business has, do you know how to read the results of your financial statement? For [...]
The point of having a business is to create something that lasts. And to do that, you need to listen to what your business needs. If you don’t pay attention to that, your business will keep you hopping, never able to truly pull away. In fact, if that’s how you run your business, you aren’t [...]
There are two big reasons why you need to have good bookkeeping. #1 You’ll make more money. #2: You’ll pay less tax. And then there are plenty of other reasons, such as: #3 You’ll have a whole lot less stress, knowing exactly what is going on with your business. #4 You’ll be able to spot [...]
How exposed is your organization to bookkeeping fraud? No company, big or small is immune to this crime. True, none of us want to believe that our bookkeeper could take advantage of his position and of the trust deposited in him/her in such a way, but unfortunately, it happens all the time. Here are 10 [...]
