Category Archives: Profitability Tips

The Best Payment Terms for Faster Cash Flow

A great way to speed up your cash flow is to get paid faster by customers who owe you money.  One way to do that is to examine your payment terms to see if you can accelerate them.  First let’s … Continue reading

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Do You Have a Revenue Plan for 2015?

A great way to start the new year is to get clear on exactly how you can make your revenue goal number.  A revenue plan is the perfect tool.  You’ll need to be proficient in Excel, and if not, you … Continue reading

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Using Statements in QuickBooks: The Basics

Most small businesses use invoices for billing customers. But there are times when you may want to send statements instead of – or in addition to – invoices. One of the more enjoyable parts of your job is probably sending … Continue reading

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How Understanding Assets Vs. Expenses Can Make You Rich

Assets and expenses both have a “debit” balance on the financial statements, but that’s where their similarities end.  Spending on one can make you rich and spending too much on the other can leave you broke.  An expense is money … Continue reading

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Billing For Time in QuickBooks: An Overview

If you sell your employees’ time and skills, you can use QuickBooks to record those hours and bill your customers for them. If your small business sells products, you know how precisely you must track your starting stock numbers, ongoing … Continue reading

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Oops: Do You Owe Sales Tax and Not Realize You Do?

One of the side effects of our last economic slowdown was in state government budgets; states searched hard for new income, and many of them found a great source by cracking down on sales tax collections.  Their new hot buzzword:  … Continue reading

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Seven Profit-Boosting Entrepreneurial Habits

As an entrepreneur, you are responsible for shaping your business success.  Any habits that sabotage your success in your personal life can often carry over to your business.  Becoming aware of these is the first step to success. Here are … Continue reading

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5 Ways to Accelerate Your Receivables in QuickBooks

Increasing your income is good. But even if you can’t, you can still take steps to collect the money you’re already owed faster. Here are five. If you asked five small business owners to name the top three roadblocks they … Continue reading

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How to Avoid Seasonal Bumps in Your Cash Flow

Many businesses operate with seasonal peaks and valleys.  Retail stores just completed their busy holiday season.  Construction contractors are busy when the weather is good.   Accountants are very busy from January through April, but also experience a quarterly peak in … Continue reading

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Five Fall Projects to Refresh Your Financial Results

  Five Fall Projects to Refresh Your Financial Results  As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach … Continue reading

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What Does Popeye Have to Do with Accounting?

What Does Popeye Have to Do with Accounting?  You might have heard the terms “cash basis accounting” or “accrual accounting.”  Your net income number can change depending on which method your books are set up for.  Here’s a simple explanation … Continue reading

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Seven Strategies to Put the Spring into Your Sales

Spring is here and that’s the perfect time to try something new in your business to make things fresh.  Here are seven ideas to try in your business; pick the one that’s most likely to put the spring in your … Continue reading

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Employee Retirement Plans: A Win-Win Situation

Clearly, your employees are winners when you sponsor a retirement plan. But there are advantages for you, too. A few decades ago, many employees could look forward to comfortable retirements. Interest rates on savings vehicles were high. Pensions were well-funded. … Continue reading

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