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’….
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…
Use ‘Class’ to customize tracking your costs and income in QuickBooks. Here’s how: 1) Edit > Preferences > Accounting > Company Tab – Place a mark in “Use Class Tracking for Transaction” 2) Go to List > Class List > Add > [Custom Name] By using this ‘custom class name’, you can easily track and…
Business owners don’t often have the luxury of a ‘map to follow’ when trends seem broken. LOCOMOTIVE … or Lamborghini? If we can all learn to be a nimble race car adjusting quickly to the road ahead (and be less like a lumbering locomotive…), we’ll all be poised to become more prosperous! LISTEN… really carefully to your customers….
