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Salt Lake City Bookkeeping Blog

Dialed in Bookkeeping System

Posted by Austin Walker on Dec 9, 2015 7:00:00 AM

Although the end of the year is packed with family to see, things to do, and places to go, it's also a time that business owners are preparing for next year and getting ready for tax season. Attempting to prioritize the attack on work seems like a job in itself, and it never seems to work exactly as the way it did last year. However, we've put together a list of items that mean big picture planning for your next successful big year.

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Topics: Bookkeeping, Small Business, Year End Planning, Hiring, Building a budget

A Small Business Owner Needs To Be An Integral Part Of Budgeting And Forecasting

Posted by Matt Roberge on Jun 16, 2015 7:30:00 AM

It is essential for a small business owner to be a part of the forecasting and budgeting process. Many small business owners don't take the time to even build a budget or forecast. Even those that do make a budget quite often don't take the time to analyze their actual performance against it, draw some conclusions, and make any necessary adjustments. Here is why every business owner needs to be a part of the budgeting and forecasting process. 

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Topics: Financial Forecasting, Financial Reporting, Business Budgeting, QuickBooks Budget, Building a budget, forecasting

How Deep Do You Dive In To Your Budget?

Posted by Joe Mazur on Feb 19, 2015 8:00:00 AM

 

So you and your bookkeeper built your business's budget last year. Now what?  Since Q1 is more than half way over, it's time to start using your budget if you haven't already.  The question is, how deep in your budget do you explore?  Since there are so many different ways to make use of your budget, it makes sense to play with it a lot until you can put your finger on what exactly is relevant to you and what is not.  Some owners may look at variances as a dollar amount, percentages, or both.  Others may look at overall expenses as opposed to the details.   Budgeting is meant to be a helpful tool for dealing with your business's future, it's not meant to be overwhelming or scary.  Make sure you have the time to review or the proper team in place to help you with this.  Using your budget the right way will allow for growth and measured results. 

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Topics: Business Budgeting, Scaling A Business, metrics, Building a budget

Don't Let Budget Season Ruin Your Holiday Season

Posted by Joe Mazur on Dec 12, 2014 7:00:00 AM

It’s budgeting and forecasting season.  Hopefully most small business owners are in the right mindset to set aside some of their valuable time to make sure they properly build out the next year’s goals and expectations before the year wraps up. Start 2015 with a bang and get it done now so you aren't dissapointed later. Knowing your short term financial trajectory is an important asset. Not knowing your 12 month budget or even 3-5 year budget is an unfortunate spot to be in. Utilize your books, your bookkeeper, management team, etc. in order to build out  realistic goals that you can hold yourself accountable to. Sure your budget will have variances and will need to be adapted along the way, but that’s to be expected.

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Topics: Consulting, Small Business Vacation, Building a budget, forecasting