Posts Tagged ‘Financial Management’
Don’t Be Afraid of Net Profit per Hour
To have profitability you need to know where you are starting with profitability. That means calculating your net profit per hour.
Read More How to Set Up a Chart of Accounts
Now that you know how to set up your accounting system and how to hire a bookkeeper, its time to learn about some bookkeeping basics. You may have been avoiding this for a long time, but its easier than you think!
Read More How to Start the Bookkeeping Process
Even if you do hire a bookkeeper, you have to be able to give them something to work with. So here’s how you should think about starting the bookkeeping process.
Read More 3 Steps to Small Business Cash Management
Controlling cash and credit are important for any small business. However, a growing number of entrepreneurs establishing a startup business can’t answer the three basic cash and credit management questions that most bankers, venture capitalists, and angel investors will ask when considering whether to fund a start-up business.
Read More Why Is It So Important to Prepare Financial Statements?
If you are wondering whether or not you really need to prepare financial statements when you already know your business is profitable, the answer is definitely yes. You may be convinced that your business is doing fine, but you will need proof for investors, creditors, shareholders, government agencies—and you will also…
Read More 7 Easy Clues Your Financial Statements Are Wrong
As an owner or manager, your responsibility is to review accurate financial statements on a timely basis. This allows you to make good business decisions and spot minor issues before they become major crises. Here are seven easy-to-spot things to look for when analyzing your financial statements.
Read More A Good Old Fashioned IRA Contribution
Most families and small business owners are still unaware on exactly how the rules work when it comes to contributing to a traditional IRA account. So here are a few facts you should know about these accounts almost forty years into the making.
Read More Growth Requires a Different Kind of Capital
Growing companies usually require more working capital during their periods of rapid growth. In past insights we have calculated the amount of additional capital needed for a business as it grows, and the additional capital required is often surprisingly large.
Read More Retirement Plans for the Small Business Owner: The SEP Plan
Simplified Employee Pension (SEP) plans can provide a significant source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their employees. A SEP does not have the start-up and operating costs of a conventional retirement plan and allows for a contribution of up to 25 percent of each employee’s pay.
Read More Readers Ask: Overhead vs. Cash?
The bottom of your P&L shows profit—not cash. Remember that profits are not cash. Only the interest payment for loans is covered in overhead. There are also some non-cash expenses such as depreciation in overhead.
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