Job one for entrepreneurs during a crisis is to dig deeper into their financials and make sure they understand an often misunderstood concept: cash flow. There's a big difference between #cashflow and #profit.
Given that cash is, quite literally, the lifeblood of business, here are a few simple tips to make sure that you are always on top of your bank account via @CarlReader.
Well over half of the SMEs have identified access to #cashflow as the main contributing factor which would help their business recover from the #COVID19 crunch. Read more about this research from @broker_news.
You have more control over your cash flow than you think. Here are 7 ways from @QuickBooks that you can control your #cashflow.
As an entrepreneur, you know that your business needs to have more money coming in than going out–also known as positive cash flow–to turn a profit and ultimately be successful. How can small businesses get a better handle on their profitability?
Profit and #cashflow are both important elements of a healthy, growing business, but they are not the same thing. Check out what @QuickBooks has to say about the differences between #cashflow and #profit.
Sometimes the projections for revenue and profit in your business plan aren’t ever realized. If you need to engage in a little belt tightening, here are some suggestions from @QuickBooks for how to get your business’s #cashflow back into balance.
When you’re considering the importance of #cashflow, it’s necessary to look at cash flow for a seasonal business. Check out what @Bplans has to say about this.
For a business to run efficiently, it needs to move money in and out. Use these three tips from @QuickBooks to revitalise your finances and get your cash flowing again.
As a business owner it’s important that you are aware of some key financial statistics within your business. Anyone who has been in business knows that a key factor in being able to sleep at night is having enough cash to pay the bills. @carlreader
You can have the best business in the world, but if the money isn’t coming in then you’ll always feel broke. Here are seven tips from @QuickBooks that can help you to improve the cash flow of your business.
Cash is the lifeblood of every business. Run out of cash, and you’re dead in the water—you can’t pay your bills or make payroll. That’s why understanding your cash flow statement is so important. Check out what @liveplan says in how to use it.
#COVID19 was the catalyst for us to rethink what we are grounded in, and how we need to move toward the future with intentionality. @jbacpa22 from @GroupBaco has some great thoughts in this @IntuitAccts post about #intentionality.
A high proportion of accounting firm owners are constantly stuck in the weeds. Their business does not run smoothly on its own. And they are forced to work long hours to keep everything on track. Check out what @karbonhq has to say about this.
How are accountants and finance leaders adjusting for remote work? One way to ease the transition is to make sure you communicate effectively with team members and clients.
Here are 10 books that various entrepreneurs recommended for a diverse audience to read. @ttaulli
Cleanup projects can be one of the biggest time sucks as bookkeepers – but they are key to the growth of a firm. Here are 4 steps to save time on these cleanup projects by @QBOChat.
Thousands of accounting firms are waiting patiently for their software providers to bring their file storage into the new millennium. According to @LiscioCX, that player might just be @Microsoft.
The success of a business rests on its ability to adjust and adapt to improve earnings. Here's @Divvy_HQ's thoughts about how to reduce #fixedcosts during a pandemic.
As students headed back to the classroom last month, education is on the minds of parents across the country. Check out these 4 key facts about section 529 plans and how they can help you!
Congrats to all my fellow council members & trainer/writer network members who were named as Top 100 ProAdvisors in 2020, including, @lynda_artesani @one8solutions @dawnbrolin @meganbronsonCPA @lisa_burnett_27 @DeborahDefer @IngridEdstrom and many more.
During #COVID, @AICPA compiled the following 5 tips to help CPAs remain productive while working from home with kids. Check them out.
Intuit @QuickBooks asked a number of accounting professionals what being “accountable” meant to them, and here are the responses.
According to @LizScottQBO & @HSatterley, Accountants already provide advisory services: - Every time we interpret a line on a financial report/offer advice about which general ledger account to use - When we tell our clients how much they could save by...
Every company faces it at some point: employees taking advantage of your expense management process. Expense fraud is estimated to cost US business more than $2.8 billion a year. Learn how to manage #expensefraud using @Divvy_HQ.
Here’s some good news for 2020: 72% of people looking to start a business within the next 12 months feel optimistic about their prospects. Read the @QuickBooks survey and learn more about how to start a business in 2020.
Over time, many CFOs and finance leaders have inspired executives to set and meet financial goals. Here are some of @Divvy_HQ's strategies for expense management for #CFOs.
As tax professionals, we often get lost in daily demands, and overlook the importance of selling not just the services we provide, but our firm, staff, and values. Here's a good Sales 101 article by @PurelySolution.
Think back to January or February of this year. The way that CPA firms communicated with their clients and employees looked a lot different than it does today. @JodyPadarCPA asks good questions in this article about how #COVID19 has changed our strategy.
Here’s what you need to know about all of the #COVID19 tax legislation and how to advise your clients on the potential impact on their 2020 tax returns.
We are in an unprecedented time of change for the accounting academic community. Here's a great article by the @AICPA about preparing accounting students for our changing profession.
If 2020 has taught CPA firms anything it is this: Anything can happen, anytime, & your IT staff and infrastructure need to be prepared for the worst, always. Create a business continuity plan, refine it over time, and apply new learnings to it via @Cetrom
The Treasury & IRS recently issued guidance on implementing the #payrolltax deferral that was issued by President Trump. Find out more here:
Here’s an infographic from #QBLive that goes into some detail about small business owners during #COVID19 and how it has affected their business operations and how they are taking on more day-to-day tasks.
Whether you're getting ready for a natural disaster or you've already experienced a loss, here's what insurance companies need to know about your possessions via @dorizinn on @CNET.
Back in June, @karbonhq raised a thought-provoking question, "How would you manage your firm if shelter-in-place lasted 2 years?" I'm curious what you would answer to this question...
Back in June, @AccountingWEB delivered a really good and essential guide, a framework, and a content series to help us better understand practice management and related technologies. Thanks @RPJohnston for your work on this.
Have you ever heard of the acronym #EGADIM? I heard it from @matthague1 earlier this year and it's a great 6 steps to follow for Advisory services.
With almost the same swiftness as the #COVID19 itself striking the various countries of the world, the cyber criminals began a new series of attacks of their own in which they sought to take advantage of the changes in technology & workplace etiquette.
Favorite Shortcuts in #QBO? ~ Melio in QBO for Bill Pay ~ Right-click duplicates ~ Workflows in QBO Advanced ~ Ctrl + Alt + F ~ QBO Payroll Packet ~ Date Field ~ and many more #PoweringProsperity @QuickBooks @IntuitAccts
The IRS recently announced that victims of the August California Wildfires have until Dec. 15, 2020, to file various individual and business tax returns, and make certain tax payments.
If you're anything like me, the coronavirus pandemic probably isn't helping your short-term memory, especially when you're trying to remember multiple passwords. This article by @CNET explores the best password managers for 2020.
In the time it takes to read this article, 10 people will have attempted to hack a system. Here are 8 simple steps from @Divvy_HQ to keep your employee and company data safe from online attacks.
People often dread asking for help from colleagues in the best of times. Now that we are working through a pandemic, many of these fears feel supersized. But the reality is that many of us need flexibility and support like never before. @HarvardBiz
When it comes to being a more productive member of your team, people are always looking for the next big thing to try. Here are 3 productivity hacks from @Allison_Frieden that you can try.
Digital transformation, according to @HarvardBiz, is not for the faint of heart — the unfortunate reality is that, to date, many such efforts, like transformation programs in general, have failed.
At the end of August the U.S. Treasury Department and the IRS sent interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income tax returns and received refunds.
Pre-quarantine, you likely thought that you spent almost all of your workday at the computer. But little did you know that you could spend so much more.
It is a fundamental tenet of crisis management that organizations are always at some stage of a crisis. This is especially true as we enter the response and recovery stages of the #COVID19 pandemic that has beset the world.
How teams of accountants work together is transforming rapidly. Collaboration is no longer only happening in an office environment, as recent studies are showing more than 70 percent of people are working remotely at least once per week via @ian_vacin.
