Fall is here, and it’s a great time for small business owners to pause and plan for a strong finish to the year. Before jumping into the fourth quarter (Q4), don’t overlook one of the most important checkpoints of the year: the end of the third quarter (Q3). Now is the perfect chance to review your
The Top 5 Financial Reports You Need to Manage Your Business
If you're tracking your business finances (and we hope you are!), you're already ahead of the game. But entering the numbers is just the first step - you need to use that data to make smart, informed decisions. QuickBooks has powerful reporting tools that give you a clear picture of your
Chart of Accounts: The Foundation for Financial Success
The chart of accounts, or COA, is the foundation of a company's accounting system. It includes all accounts used by an organization to record financial transactions. Financially, it's the basis of what holds everything to together and keeps it organized. As you read on, you'll discover how a
Breakeven Analysis: A Guide to Business Profitability
Whether you have a fledgling startup or an established business, one of your obvious goals is to make a profit. Usually, making a profit doesn't happen overnight or by accident. Business owners typically spend time analyzing their financials and making deliberate tweaks in their operations in order
Client Success Story: Helping B&D Rollers Crush Inventory and Cash Flow Challenges
Inventory and cash flow are two areas that small businesses often struggle to manage. Dan Ostrander, owner of B&D Rollers, understands just how that can begin to derail a business, especially during a period of rapid growth. After reaching out to us, we helped B&D Rollers clear up their
Don’t Just Fudge It, Create a Budget!
A budget is one of the most important keys to business success. However, only about half of small businesses create a documented budget, according to a 2021 Clutch survey. As Dave Ramsey says, “A budget is telling your money where to go instead of wondering where it went." Creating a budget
Don’t drown! Know your numbers and save your business
Don't ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers." Businessman Tilman Fertitta reminds us that it might not matter how great a product or service you offer. If you don't keep on top of your financials and "know your
Profit & Loss Statement: How do you Measure Up?
As a small business owner, how do you measure up in terms of revenue, expenses, and net income? Are you able to quickly answer these questions: How much did you earn in sales last week? What is the monthly cost of running your business? What is your net income (or loss) so far this