5 Ways Profit First is Good for Your Home Service Business

Managing money is often a challenge for small businesses, but home services businesses have some special challenges to manage: Seasonal activity Purchasing supplies and materials for jobs, but waiting to get paid Various billing due dates for subcontractors And customers don’t always pay on time Profit First

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Business Planning Made Easy for 2019

2019 is right around the corner.  Today the perfect time to think about your business goals and where you want to be one year from now. As year-end wraps up, you’ll soon know your financial numbers for 2018. You’ll then be able to evaluate how you did

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Being Grateful

With holidays approaching, this is the perfect time of year to take a moment and reflect on all of the things we are grateful for. Being grateful may sound a bit trite, but it’s also the number one, hands down, fastest way to bring more positivity and less

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The Concept of Internal Control

Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of

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Should You Have a Financial Dashboard?

A quick glance at your car’s dashboard is all you need to check your fuel gauge, speed limit, engine temperature, and RPM when you’re driving down the road. Your car’s dashboard is designed to focus on what’s important and what you need to know to have a

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How to Cut Costs with Fixed Assets Management

Fixed assets are special kind of assets in your business. They include land, buildings, equipment, furniture, and vehicles that your company owns. While we frequently look at expenses to cut costs, fixed asset management is another place we can look to find ways to better utilize our

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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 it called the Profit and Loss Statement, or P&L.

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