Unpaid invoices hurt the cash flow of your business. Rather than turn to the default solution of increasing sales, look into improving the way your business manages its accounts receivable. What is accounts receivable? Accounts receivable (A/R) is the amount your customers or clients owe for services provided or goods that your business sells. Your client or customer does not pay for the service or item right away, therefore accounts receivable is an “I Owe You”. Let’s look a

I always request to have access to a prospective client’s QuickBooks Online or Xero account (if available) for the purpose of understanding their bookkeeping needs. One thing I often notice is that most do not reconcile their bank or credit card accounts. When I asked about their reconciliation process, the business owners stated that they did not know they should reconcile their bank and credit card accounts. Some didn’t even know what a reconciliation is. Other business o

Cash flow. To improve cash flow we often focus on the larger goals that produce higher dollar revenues. Which means we don’t consider the small expenses because they are harmless. Specifically, small expenses are considered to be harmless because what’s a $1 here or $60 there when your business is generating so much more? The answer is, a lot. What if I told you that the small expenses could make a large impact on your cash flow? What if I told you those small unnecessary ex

I'm a smart person. No, really, I am. Want to know how smart I am? I am so smart that most often I get in my own way. ...which...is...not...really...smart. So, I read various books, blogs, and emails and also listen to the occasional podcast that remind me to get out of my own way. Today, Ramit Sethi reminded me to get out of my own way. Just in case you don't know who Ramit is, he's a guy that will teach you to be rich. You might be wondering what this has to do with acco

Happy New Year and Happy New Beginnings! As someone who once worked as an accountant for Fortune 500 companies and two of the Big 4, I honestly find cloud accounting software, like QuickBooks Online (QBO), to be a breath of fresh air. It is one system that can grow as your company grows. I’m going to repeat a key word: ONE The companies and firms I once worked for had multiple accounting systems to support their business. Multiple systems were needed because each did somethin

Creative Commons Images from Pixabay *Originally posted July 2016* Your bookkeeper, the superhero? Hard to believe, huh? I understand. In fact, I’m guessing when someone introduces him or herself as a bookkeeper, some probably assume the person is dull, boring, and uninteresting IF there is a thought, at all. What if I told you that it is possible for you to jump up and down for joy when someone mentions they are a bookkeeper? What if I told you that you could associate the