While often linked together they ‘shouldn’t be’ as a budget and a forecast are not the same. They are both terrific financial management tools but they serve different roles. Budgets focus on shorter time periods like quarters or one fiscal year. Management uses a budget to measure actual income/expenses to their estimates or predictions and…
Perhaps your eyes aren’t as good as they used to be and you’re reminded of this each time you work on your computer. If you’re using QuickBooks, there’s good news. Have you ever considered using QuickBooks’ Memorize Feature to memorize a change in font size? Open the report you review frequently, change the font by right clicking on…
Along with an income statement and a balance sheet, the cash flow statement provides a (potential) investor with valuable insight about the health of a business. It covers three key areas where cash moves in and out of a business. 1) Operations 2) Investments and 3) Financing. When reviewed with an income statement (a.k.a. Profit…
While preparing to file for state and federal taxes, small business owners are presented a unique opportunity to review the overall health of their business using their financial documents. Regardless of whether they’re ‘doing-it-themselves’ or enlisting the help of an expert, having their financial data all together is invaluable. It provides an opportunity to review the…
FDIC Winter 2016 Consumer News listed a comprehensive list small business owners can use to protect their data and their money from hackers. Their cyber-security tips in short are: Keep up-to-date anti-virus software on all computer devices with automatic updates. Regularly install ‘patches’ or updates to all software. Keep employee access to data ‘job specific’….
Whether your updating your check register or adding a new invoice, every entry has a direct impact on two main reports: 1) Standard Profit and Loss and 2) Balance Sheet. Note: The Profit and Loss report is ‘date driven’ so pay close attention to accuracy during the entry process. Call QuickBooks Expert and Business Coach,…
Find this useful QuickBooks feature by clicking the tab called Reports> Company Snapshot. It shows the company’s Money-In, Money-Out and Overall Performance, at a glance. Based upon selected dates and displayed using graphical visuals, find your ‘Top 5’ Income Accounts located in the top-left box, and in the top-right, your Expenses. ‘Drill down’ into the specifics by…
Late in 2015 through early 2016 Business Support Services Northwest, LLC / ProFound Impact launched a series of free town meetings at area coffee shops, industry non-profits and regional Chambers of Commerce inviting QuickBooks users to join small group Q&A sessions to discuss common issues like job costing and reporting with PFI Coach, Chris McGee….
Don’t wait until the tax deadline is upon you, save your accountant time and yourself money by cleaning your books up now. If everything is ready to hand-off at tax time, your accountant’s time can be spent maximizing deductions rather than charging you for cleanup work. Attend 1 or all 3 FREE QuickBooks Advanced Reporting Q&A sessions…
Initiating standards and enlisting an auditing body to oversee the environmental, social, and corporate governance (ESG) issues or “nonfinancial information” as it’s commonly referred, similar to the standards used to oversee financial information is ‘fundamental’ in establishing a ‘Sustainable Economy’, suggests Robert G. Eccles, a professor of management practice at Harvard Business School and the…
