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Salt Lake City Bookkeeping Blog

[Infographic] 4 Small Business Lessons from the School of Hard Knocks

Posted by Austin Walker on May 18, 2016 8:30:00 AM

The American dream! That ideal story lived by many of our grandparents growing up that included military service, hard work, and making it just by dedicating yourself to working normal jobs in one place for a long time.

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Topics: Consulting, Small Business, Entrepreneurship, Business Management

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

Is Your Bookkeeper A Small Business Consultant?

Posted by Matt Roberge on Aug 14, 2013 7:00:00 AM

Many small business owners hit a point where they find it is necessary to hire a small business consultant. I imagine there are a lot of reasons that an owner brings in a consultant. Most likely they either don’t know how to take the business where they want or they lack direction in general. Other owners may doubt that they have the skillset or mindset to take their business to the next level. In order to achieve their goals or gain direction some business owners hire a consultant. I have met some great business consultants that really add value and those that don’t. One thing to consider is to see if you can get your bookkeeper to act as a small business consultant. 

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Topics: Small Business Bookkeeper, Small Business Bookkeeping, Consulting, Small Business Consulting

From A Bookkeeper In Utah, Financial Reporting Pointers

Posted by Joe Mazur on Jul 15, 2013 7:05:00 AM

A small business owner may be so busy working in their business, they may not have the
amount of time to stop and work on their business.  It's always tough seeing a business owner wrapped up in the day to day operations that they start to ignore goals and forecasts.  Maybe from a bookkeeper here in Utah, financial reporting pointers can help both in the short term and long term.  Diving into your small business's financial reporting can be time consuming if it's not utilized on the regular.  Having a few reports that are saved under memorized transactions (usually in QuickBooks) that are easy to pull up can definitely reduce stress and save time if they are checked regularly.  Focusing on Account's Receivable Reports, Labor vs. Revenue Compare, Profit Margins, and Account's Payable Reports will provide a decent amount of relevant data to be used going forward.

Accounts Receivable Report

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Topics: Bookkeeping Errors, Cash Flow Management, Consulting

Holding Everyone Accountable In Your Small Business

Posted by Joe Mazur on Nov 30, 2012 8:21:00 AM

Being a manager for a small business can sometimes feel like you are sitting in the captain's chair.  Holding everyone accountable in your small business can have some adverse results if handled incorrectly.  Will your ship crash if you take your hands off the controls?  Being bookkeepers, we get to see a lot of different businesses practices from working on such a wide variety of industries.  The reoccurring theme we usually see from both our clients and from our own books is holding everyone accountable.  I'm talking yourself, employees, vendors, and sometimes your customers.  With these areas held to the highest standards, you are really setting yourself up for success.  You are able to accurately grow, obtain short term and long term goals, and predict the future for your business.

Holding Vendors Accountable

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Topics: Accounting Services, Bookkeeping Help, Sales Advice, Consulting, outsourcing bookkeeping, Small Business Growth, CEO Advise