Blog

Posts Tagged cash flow

Take Advantage of Seasonal Downtime – Review Your Business Budget

While many businesses can heat up during the summer, a lot of businesses experience a major slow-down. With the kids out of school, people are often busy taking vacations or participating in warmer weather activities. If your business goes through seasonal doldrums, why not take advantage of the downtime to review your business budget? You can review how your year has gone so far and plan for what you want the rest of your year to look like. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

Is Convenient and Easy Making a Muddle of Your Business Bookkeeping?

Is your business going paper-free or at least relatively paper-free? While the idea sounds terrific, it can create a mess if you still operate your business bookkeeping systems like you did 30 years ago. If you are fighting a muddle of chaos, chances are that you don’t have a clear updated process in place, and that can do nothing but aggravate and stall your progress. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

3 Reasons Why an Emergency Fund Is a Necessity for Your Business

Most financial advisors tell people they need to have an emergency fund to cover unforeseen financial issues; job loss, medical expenses, or home repairs, that may occur in their lives. The same can be said for businesses, too. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

Do You Know Why Your Small Business Is Failing?

Did you know there are over 28 million small businesses in the United States, according to the Small Business Administration? If your business is succeeding, that’s great! Good job! Because, unfortunately, only about 50% of small businesses survive – and only one-third survive 10 years or more. Why do you think that happens in such numbers? (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

5 Tips to Quicker Customer Payments

In business, you must keep an eye on your cash flow. Because, if you’re like most small business owners, how much you have in the bank depends on the speed in which your customers pay you. But how do you get your invoices paid faster? Here are some simple tips from The Payroll Department to help you get prompt customer payments. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

Warning: Without an Accounts Receivable Process You Won’t Get Paid

Occasionally, at networking and other events, we hear small business owners grumble about not getting paid for jobs they’ve done. At The Payroll Department, we understand their frustration. Often, the problem really comes down to not having an accounts receivable process in place. Many entrepreneurs “leave money on the table” by not telling their clients what their terms of payment are, not following up for payment, and worst of all, not even sending an invoice. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

4 Top Issues Bookkeeping Can Help Solve for Your Small Business

Are you damaging your business by trying to do everything, including bookkeeping, on your own?As a small business owner, you want your business to grow and succeed. But all small businesses are plagued by the same common problems that can impede their success. Part of the problem is, try as they might, entrepreneurs are just not as knowledgeable and effective in all areas of their businesses as they would like. This lack of knowledge and ineffectiveness can lead to inadequate processes, errors, and missed opportunities.

(more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business, Payroll, Uncategorized

Leave a Comment (0) →

Get Rid of Cash Flow Problems So Your Business Can Succeed

Your small business depends on good cash flow. When not enough cash comes in, you can’t pay your expenses (like rent, utilities, supplies, etc.), cover your payroll, or purchase materials to provide your products and services. Your small business could be making a profit, but also experiencing financial problems, if you’re not managing your cash flow properly. A good bookkeeper, like Grace Walker of The Payroll Department, can help you stay on top of your cash flow, so your small business can succeed. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →

Is Your Bookkeeping Killing Your Small Business?

It’s pretty overwhelming when you think about it – one out of five new businesses are destined to fail. The top reasons for small business failures all tie back in some way to financial management. Cash flow, cash management and just knowing the numbers are at the crux of the problem. The reasons for that are probably pretty simple: many small business owners don’t go into business to do bookkeeping and be a financial analyst. They go into business to provide a product or service to the masses. That’s what really floats their boat. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

Leave a Comment (0) →