News & Updates

How to get your business out of debt 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 the debt load can quickly increase. Unfortunately, high debt balances encroach on a business’s cash flow, stifling the opportunity to grow and thrive. All the loans also give little in deductible returns. Interest is deductible, but that’s […]

    Learning Profitability in Craft Breweries: Essential Fundamentals for Success 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 styles, the opportunity to give customers something they have never had before is endless. A problem we encounter with this growth is small business owners know how to produce quality beer but lack and […]

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 spaces and finances. When Amber’s Bookkeeping was launched in 2016, I started to draw the parallels between running an organized household and running an organized business. Much waste takes place when we are not watching the details and following tried and true organizing principles. Efficiency […]

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 invoices. In terms of cash flow, consider these questions about accounts receivable. When do you invoice your customers? Right away? Before the job? Or do you take a lot of time to send the invoice for your services? All this timing matters. Do you […]

Should I have a business savings account for my small business? Yes! Here are a few reasons why you should consider using a business savings account:   1.Save money for taxes. Instead of reacting to a tax bill, proactively save to pay your tax bill. There’s nothing worse than completing a full robust year of business to drain your bank account for the IRS or the state. It comes all at once and can feel like a blow to your gut! A better approach is to watch your numbers and reports. Specifically, after your bookkeeper is done reconciling the month […]