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Salt Lake City Bookkeeping Blog

Business Is Unprofitable? Proceed With Confidence

Posted by Matt Roberge on Sep 26, 2016 9:00:00 AM

At some point, your small business may become unprofitable. Maybe not overall, but during a month or a small period of time, you will most likely post a loss.

That can be a stressful situation for a small business owner. When your business is unprofitable, you have a decision to make: give up or proceed. Passion and the desire to succeed will push most business owners to proceed, but they often do so with hesitation.

When your business is unprofitable, here is how you can proceed with confidence.

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Topics: Small Business, business investment, business venture, forecasting, Financial Forecasting

[Infographic] Avoid Expensive Small Business Mistakes

Posted by Austin Walker on Mar 16, 2016 8:30:00 AM

Within ten years of starting, 71% of all small businesses will fail, so it's easy to understand why small businesses cannot make expensive mistakes. Generally speaking, a lot of owners will have to shut the doors due to a lack of cash. A quarter of them will shut the door before the end of year one and 44% leave the market before the end of year three. 

Bookkeeping can help save small business owners from this problem.

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Topics: QuickBooks Budget, Cash Flow, Small Business, Bookkeeping System, forecasting

[Infographic] How to be an Integral Part of Budgeting and Forecasting

Posted by Austin Walker on Dec 2, 2015 8:07:06 AM

For some, it may be difficult to determine where you fit in with budgeting and forecasting for your small business.  Maybe you don't quite understand where exactly you fit in, or maybe the business doesn't even put together projections or a budget for the next fiscal year. 

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Topics: Small Business Owner, Small Business Management, Financial Forecasting, Business Budgeting, Entrepreneurship, forecasting

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

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