One of the best tools to forecast cash requirements is the 13-week cash flow forecast. It can help a business owner predict what their cash balance will be 13 weeks in the future. It helps to answer whether there will be enough cash to cover payroll and
Read more →Are you thinking about hiring a new employee? Whether you’re hiring your first employee or your hundredth, here’s a checklist of items to keep you on track with all of the related tasks and requirements. 1. Get an IRS employer ID if you don’t already have a
Read more →Hiring a new employee is a big accomplishment in any small business, and there are a lot of steps involved, too. Here’s a handy checklist to help you stay organized when you bring that new hire on board. First things first, the legal and accounting items: Signed
Read more →Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of
Read more →A quick glance is all you need to check your fuel gauge, speed limit, engine temperature, and RPM when you’re driving down the road. Your car’s dashboard is designed to focus you on what’s important and what you need to know to have a safe trip. Your
Read more →Would you call yourself a procrastinator? If so, you’re not alone, and with our to-do-lists growing daily, the percentage of people who procrastinate chronically has increased over the last few decades. There’s a difference between procrastinating and prioritizing. Great entrepreneurs know how to put the most important
Read more →As business owners, we want to remain optimistic about our business’s future. But life can happen, and we need to be prepared. A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them. In 2017,
Read more →If you perform a service or ship a product before you get paid, then you likely have a balance in your Accounts Receivable account. If customers pay when their invoice is due, all is right with the world. If they don’t, then your cash flow slows down
Read more →If you have employees, you probably also have a process to help them understand how they are doing on their job performance. There’s a new trend in large companies to kill the annual performance review and replace it with continuous, instant feedback as well as a tool
Read more →Accounting automation has come a long way in the last few years, and the process of handling invoices and receipts is included in those changes. No longer is there a mountain of paperwork to deal with. In this article, we’ll explain some of the changes in this
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