Early-stage companies and small startups are traditionally high on creativity, drive, innovation, and tenacity. However, all the ambition in the world does not solve for one of the most essential needs, which is funding. Getting a company off the ground usually requires personal investment, profit investment, and a traditional bank loan. Now, venture capital is becoming the more trendy and...
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The fate of your business’ health and prosperity goes far beyond waiting for revenues to exceed your expenses. While this is the goal, there are ways to be proactive about forecasting your expected growth. If you have an approximate understanding of what’s coming in, you’ll have an even clearer picture of what your costs should be.
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Your financial statement could have its hand in helping you attain lower interest rates on loans, give you a clearer picture when you perform a revenue forecast, and ultimately help you strategize and plan for the future of your business. Let’s take a closer look at how a financial statement prepared by an outsourced accounting firm is more reliable.
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As a business, your livelihood depends on getting something in return for the products or services you are providing to others. While we safely assume that once we send out an invoice a payment will arrive shortly after, this is seldom the case. A common frustration is that once these invoices go out, payments are either habitually late, or worse, non-existent.
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Do-it-yourself accounting weakens the financial accuracy of your business when it comes to in-depth analysis of performance, tax breaks, and more.
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Financial KPI items your business should utilize are the Net Promoter Score (NPS), accounts payable turnover, current ratio, and the debt to equity ratio. Continue reading!
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When calculating sales margins, businesses commonly forget to factor in secondary selling costs, content creation, paid marketing, and labor. Continue reading!
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The success of a multi-generational family business rests on clear role definition, formal ownership structure, and conflict-resolution skills. Learn more!
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Some common payroll mistakes include the mismanagement of independent contractors, Form 1099 filing errors, and more. Learn more today!
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Accounting errors, such as poor cash flow management and neglecting yearly financial analysis, are responsible for the success or failure of startup businesses. Learn more!
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Having A CPA Nearby For Your Small Business Is Crucial If you are a small business owner, odds are you have had a hand in just about every aspect of your business. While you may be a wiz at math and an expert in your line of business – taking care of your books should
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Should Your Business Be Using An Outsourced Bookkeeping Company? It’s not a question of whether you need a Certified Public Accountant (CPA) for your business, but a question of whether you need one in-house. More times than not, an outsourced bookkeeping company can take care of your needs as they come, alleviating the costs of
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