Category Archives: Accounting

Three Tips to Maximize Your Social Security

Social security is one of those topics that seems to be minimized by statements like, “You can’t count on it,” and “By the time you reach retirement age, it won’t matter.” Those statements are not only incorrect; they contribute toward … Continue reading

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How to Read Your Income Statement

The income statement of any business is probably the most important report of all. It is a snapshot of the financial performance of your business over a period of time, such as a month or year. You might also hear … Continue reading

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Boost Your Accounting Know-How with These Terms

The field of accounting has its own vocabulary, which can sound like a foreign language to some people. Your financial savvy will increase by learning a few new accounting terms. You’ll be “speaking accounting-ese” in no time, and you’ll become … Continue reading

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The Perfect Chart of Accounts for Your Business

Your “Chart of Accounts” is the list of accounts in your accounting software.  The accounts are listed in your reports, and the totals allow you to determine how much you’ve spent, made, own, or owe depending on the type of … Continue reading

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Five Numbers You Should Know About Your 2016 Performance

Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance.  To start, grab your 2016 income statement, or better yet, give us … Continue reading

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Understanding Payment Terms

If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: You have a balance in Accounts Receivable on your balance sheet that represents … Continue reading

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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 … Continue reading

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Beyond Saving Trees: New Trends in Receipt Management

Accounting automation has come a long way in the last few years, and the process of handling invoices and receipts is included in those changes. No longer is there a mountain of paperwork to deal with. In this article, we’ll … Continue reading

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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 … Continue reading

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Have Your Layer Cake and Eat It Too

The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of … Continue reading

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