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Category Archives: Bookkeeping Tips
Increasing your profits might sound like it’s an unattainable dream just out of your reach. But there are a finite number of ways that profits can be increased. Once you understand what they are, you’ll have clarity on how to … Continue reading
Tim Ferriss made the 4-hour workweek a popular concept in his 2007 book. But is there such a thing, and more importantly, can business owners like you and me cash in on it? As the last of the Baby Boomers … Continue reading
If you’re struggling with your accounting system, it might be a sign that you’re ready for something new. Perhaps your company has grown so much that it’s outgrown its older accounting solution. Here are several indications to look for that … Continue reading
If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO … Continue reading
Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate … Continue reading
Time is precious for most of us these days, and often, we need help at home so we can have more time to run our businesses or careers. That may mean hiring help for personal tasks such as caregiving for … Continue reading
How much time do you spend each day looking for information about orders, customers, vendors, or employees? If it’s a lot, a little spring cleaning might pay off. Here are five quick tips to assess and improve your information access. … Continue reading
Many small business owners focus on generating more revenue every year, and that’s a great objective. But not all revenue is created equally. If you sell more than one product or service in your business, then you can benefit from … Continue reading
With the holiday season just around the corner, it’s a perfect time to get your financial records in order. Tax moves you make now can mean finding more “green” to spend on family gifts and festivities. Here are five quick … Continue reading
Watching the cash balance is one of the most frequent activities of a small business owner. Besides making sure you have enough cash for payroll and bills, there is another huge opportunity you can benefit from: lowering the cost of … Continue reading