Archive for the Bookkeeping Tips Category

Eight Ways to Increase Your Profits

Increasing your profits might sound like it’s an unattainable dream just out of your reach. But there are a finite number of ways that profits can be increased. Once you understand what they are, you’ll have clarity on how to best reach your goals. There are two

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Is There Really a 4-Hour Workweek?

Tim Ferriss made the 4-hour workweek a popular concept in his 2007 book.  But is there such a thing, and more importantly, can business owners like you and me cash in on it?  As the last of the Baby Boomers approach retirement, the topic of working less

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Signs You Might Be Outgrowing Your Accounting System

If you’re struggling with your accounting system, it might be a sign that you’re ready for something new.  Perhaps your company has grown so much that it’s outgrown its older accounting solution.  Here are several indications to look for that justify moving to an accounting system with

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What’s Your DSO?

If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net

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Five Ways to Streamline Data Entry

Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate data entry so that it no longer

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Navigating Nanny Taxes and Household Payroll Compliance

Time is precious for most of us these days, and often, we need help at home so we can have more time to run our businesses or careers.  That may mean hiring help for personal tasks such as caregiving for the young, elderly, or special needs family

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Is It Time for Spring Cleaning Your Business Files?

How much time do you spend each day looking for information about orders, customers, vendors, or employees?  If it’s a lot, a little spring cleaning might pay off.  Here are five quick tips to assess and improve your information access. Your Librarian Large companies often have a

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Optimize Your Revenue Mix for More Profits in 2014

Many small business owners focus on generating more revenue every year, and that’s a great objective.  But not all revenue is created equally.  If you sell more than one product or service in your business, then you can benefit from looking at your revenue mix. Although it’s

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Five Tips to Get Ready for a Pain-Free Tax Time

With the holiday season just around the corner, it’s a perfect time to get your financial records in order.  Tax moves you make now can mean finding more “green” to spend on family gifts and festivities.  Here are five quick tips for you to feel more prepared

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Five Best-Practice Accounts Payable Tips for a Smoother Cash Flow

Watching the cash balance is one of the most frequent activities of a small business owner.  Besides making sure you have enough cash for payroll and bills, there is another huge opportunity you can benefit from: lowering the cost of processing your bills.  It can be expensive

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