If your business is doing the mingle jingle, it’s time to STOP! You know, co-mingling funds…. EEK!

Everyone knows (or at least SHOULD know) that you need a separate bank account for your business finances.

But do you know how to pick a bank that will be a good fit for your unique business needs?

If you’re not sure which questions to ask, or how to weigh and compare bank features, then this link should help – it’s a list of questions I recently

Ever wish your bookkeeping + financial software was more like Siri? Especially for your business finance questions?

Like, “Hey Siri – how can I reduce my business expenses?”, or, “Hey Siri – how can I increase my business’ profit margin?”

Here’s the good news – as long as your bookkeeping data is up to date, your financial reports can act as a “Siri” for your business finances. All you have to know is where to look!

Here’s a couple of examples:

“Hey, Siri

Sometimes you just gotta write it off…..

Did you know that 16% of invoices don’t get paid?

Think about it – you get paid for 8 invoices in a row, no sweat. But when you send out that 9th or 10th invoice … the client just doesn’t pay!

And not only are you left in the lurch, you’ve now got this annoying unresolved transaction in your financial records.

So what do you do with that irritating open invoice? Should you delete it?

Check-up Time….

Do you know if your business finances are ready for the end of the year?

Follow up question: do you even know what exactly you need to do in order to … well, BE ready for the end of the year?

You may not know what exactly you need to do to finish your 2020 finances, right?

You’re in good company… 40% of business owners say that bookkeeping is the WORST part of owning their business.

… which then makes it the easiest

The Chart of Accounts (ie. COA) is so important to have good financial reports and to have the specific data that you need to make good business decisions.

For instance, if you have a COA, and you have only one account called Utilities, that may work for some businesses. But other businesses may want to know how much they spend on phone bills so they can ship around and reduce their bill. OR a different company may need to know how much their electric

Do you understand what a Profit + Loss statement is, and why it’s SO important for your business?

We mean – REALLY understand?

If not, here’s a quick rundown of why it matters, how to use it, and a helpful link if you want to read more about it. (which we encourage you to do!)

First, let’s talk about WHY it is so important to create an accurate (and helpful) P+L report:

Up-to-date bookkeeping data in your financial software

Income and expenses correctly