Even years after the COVID-19 pandemic, SBA and EIDL loans have sunk small businesses. Despite efforts to help enterprises during a brutal pandemic, many small companies still have large amounts owed and are on an uphill battle trying to pay it all off. Add that to current credit card balances or lines of credit, and […]
23
Oct
Oct
What is the chart of accounts inside QuickBooks? Why should it be organized? Does the chart matter? The simple answer is that it completely matters, and organization is the key to using it effectively. The chart of accounts is a chart of categories and titles where money is organized into inside financial software. Without accurate […]
06
Sep
Sep
Determine Your Income Streams If you’ve ever looked at a profit and loss statement, you know it’s not ideal to see one income line item with one big number for sales. Sales of what? What was sold? Did you only sell one item or service? How much was sold? When we analyze revenue, we want […]
20
Aug
Aug
As the craft beer industry has grown in recent years, consumers have benefited from many brewery options, especially in larger cities throughout the country. Many operators have gotten into business because of the passion and pure enjoyment of being able to create a product that was once only available at stores. From innovative to traditional […]
31
Jul
Jul
As a business owner, it’s frustrating to wait a long time for customers to pay you the money they owe. When services are performed, we hope and expect people to simply pay us. The Accounts Receivable Summary report in QuickBooks Online shows you which customers haven’t paid you yet and how long you’ve been waiting […]
26
Jul
Jul
When I was young, I watched my dad run different businesses. Even before I was born, he was always starting something new. He was a real entrepreneur like his father who owned a fuel oil delivery company. The story goes that when he was under sixteen, his father who had a great year in business, […]
08
Jul
Jul
You’ve probably heard the famous quote “Measure a thousand times and cut once.” Accuracy is crucial, and there are merciless consequences when it’s neglected. When we acquire new customers, we often find technical errors and inaccuracies. Our first step when working with new customers is to conduct a diagnostic review to assess the state of […]
05
May
May
It may not be obvious to most, but being organized and running an organized business saves you money. Much can be gained by added efficiencies and productivity to your business. In 2003 I started a professional organizing business in Chicago. I served customers for twenty years and most of the focus was on their residential […]
30
Apr
Apr
I’m sure you’ve heard of the wildly popular sites such as Fiver and Upwork. On these sites, you can find just about any contract talent work that you need. People showcasing how they can help your small business on a project basis. Most of us also hire out web designers and a tax attorney or […]
29
Mar
Mar
4 Things That Affect Your Business’s Cash Flow 1.Accounts receivable Consider your accounts receivable process. Look at it from all angles. Let’s define accounts receivable to start. These numbers or total numbers are what is owed to you by all your customers or clients. This is money that you need to collect. They are open […]