It seems like the #1 concern for every business, whether it's a small yoga studio or a large gym is how to grow. But growth doesn't always equal higher profits, nor does it mean that your business is prepared for responsibility of growth such as hiring, expanding space, budgeting, and more. Every small business or gym seems to want to grow; the question is, are they ready? Check this quick assessment to get an idea if your yoga studio or gym is ready for growth.
Topics: Sales Advice, Small Business Growth, Grow Your Business
Cash is king, but without proper bookkeeping procedures in place, mishandling cash can cause business failure.
Weak bookkeeping systems that do not use the correct procedures for handling cash are vulnerable to internal theft and IRS audit failures.
Managing your small business cash flow properly can ensure that your bookkeeper is not stealing from you. Implementing a bookkeeping process for handling cash payments from customers and cash disbursements out of the business (petty cash), is essential to ensuring your small business is successful and profitable.
As the saying goes, "failing to plan is planning to fail". This is never more true than in the world of small businesses. Looking back on the year, there may be many obvious mistakes that have prevented your company from seeing its full potential. In the coming year, there are several crucial steps that will ensure manageable and profitable growth for your small business.
Topics: Small Business Bookkeeping, Bookkeeping System, Outsourced Bookkeeping
As we get closer and closer to year-end most businesses will begin thinking about taxes. One of the most hated words in the business world... taxes. By the time year-end passes and you actually start to think about your bookkeeping and taxes you are too late.
You need to attend to your bookkeeping before year-end and do some tax planning. Updating your bookkeeping and reviewing it prior to year-end is very important as you can actually do something about your tax situation before the turn of the calendar. Here is a must do now checklist for your year-end bookkeeping.
Topics: Year End Accounting, Small Business Bookkeeping, Tax Tips, Year End Bookkeeping
It's that time of year again. Can you sense it? Year-end is just around the corner. The rivers are getting cold, the smell of fall is in the air, snow is starting to show in the mountains and everyone is getting excited for winter (at least our office is).
For many business owners Thanksgiving through Christmas is a time to take a laid back approach to their business. Taking that approach leaves you behind in your business and that is no way to start a new business year. Here is a year-end checklist for the small business owner.
Read MoreTopics: Small Business Management, Year End Accounting, Small Business Growth, Year End Bookkeeping
As a small business owner, you hear this question all the time: "How's business?"
A very typical response is: "Great, but I'm just so busy."
Most business owners are just busy being busy, but I wonder:
How many of them know how their business is actually doing?
Being busy and being profitable don't necessarily go hand-in-hand. Do you know if your business is growing? Do you have a financial plan in place to accommodate for that growth? Do you spend too much time on payroll and balancing your finances each month? Does year end tax planning give you heartburn? I will explain how an outsourced bookkeeping service can actually help you understand how your business is doing, reduce stress, and plan for growth.
Read MoreTopics: Financial Forecasting, Grow Your Business, Exit Planning, Strategic Planning
Bookkeeping for a restaurant group that has different locations and different restaurants under it can be tricky. There are tight margins to maintain.
In addition, spoilage, theft, and inventory must be controlled to maintain profitability. In order to do this, the books must work like a well-oiled machine.
There can't be any flukes or the whole machine is compromised and margins decrease. Follow this guide to monitor profits and grow your restaurant locations.
Read MoreTopics: Small Business Management, Outsourced Bookkeeping, Restaurant Accounting
There was a time when all that your restaurant really needed was good food and a great location to guarantee its success. But with the advent of social media and online mobility, menu and locale alone aren’t always enough to grow and maintain a healthy client base These three investments are .
Read MoreTopics: Marketing Small Business
Let's face it, owning a restaurant can be tough...
As you're likely aware, the restaurant industry has very tight profit margins. And that's precisely why developing an efficient and accurate restaurant accounting system is of utmost importance if you want to continue to grow your business.
Topics: Restaurant Bookkeeping, Restaurant P.O.S, Bookkeeping Salt Lake City, QuickBooks For Restaurants, Restaurant Accounting, Restaurant Industry
An important aspect of small business growth planning is understanding and managing your cost of goods sold. Whether your business sells products or services, it’s important to know “what is the cost of goods sold?” for each item or service you sell. This number provides the basic information you need to promote small business growth.
Read MoreTopics: Restaurant Bookkeeping, Small Business
