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Small Business Finance Blog

Want to gain full control over your firm’s finances but aren’t sure where to start? You’re not alone and you’ve come to the right place. Read on and reach out if we can lend a hand.

Feb 21, 2018

7-Step Accounting System Migration Checklist

Changing accounting systems can cause a serious disruption in your business operations. Therefore, it is crucial to have a plan in place before you get started. Follow our 7-step accounting system migration checklist to help get your new system...

Jan 22, 2018

9 Ways Your Current Priorities are Pouring Money Down the Drain

You're in good company if you're being pulled in countless directions as you work to grow your firm. Keeping all those balls in the air is tricky and tiring. Prioritization is a constant battle.

Dec 07, 2017

5 Steps to Prepare Your Business Plan for Next Year

Large firms have the finance staff and business intelligence tools to inform their decision making and provide a competitive edge. Here are 5 simple, cost-effective steps to level the playing field for your small business, for 2018 and beyond.

Nov 28, 2017

More Productive Board Meetings Start with this Board Packet

How constructive was your last board meeting? Can you name at least 2 or 3 specific insights or outcomes that will add meaningful value to your enterprise? You're not alone if you view these quarterly meetings as a necessary evil, standing in the...

Oct 30, 2017

8 Must-Have Metrics for Your Finance Dashboard

We were invited by the GoDaddy Garage blog to write a guest article for small business owners detailing what comprises a great finance dashboard. Click here to read it now.

Oct 19, 2017

Sources of Competitive Advantage: Start With Your Finance Department

The term “competitive advantage” might trigger thoughts of a company with a defensible market position, best product, lowest price (and cost), superior customer service or consistent client outcomes. But the truth is, there are many sources of...

Oct 06, 2017

How to Find a CPA: 4 Questions to Navigate to the Right One

Your CPA (certified public accountant) is a crucial part of your finance team. They must turn a year’s worth of accounting entries into final yearend financial statements that ultimately lead to the smallest possible tax liability.

It seems as...

Sep 25, 2017

Fundamentals of Financial Management: The Secret to Profitable Growth


What are your goals for your business? Do you want to expand your market, release a new product or increase sales? Believe it or not, whatever your primary goal is for your company, the key to achieving it...

Aug 23, 2017

Pro Forma Financial Statements: Model Worst Case to Enable the Best

No one likes to imagine the worst-case scenario. But if you are planning a new product or service in your business, forecasting failure is necessary to demonstrate your firm can withstand a slower than projected start or an unanticipated hiccup....

Aug 09, 2017

How to Find a Good Bookkeeper: Outsourced Bookkeeping for Rural Firms

Nearly all small businesses struggle with hiring experienced staff at one time or another. The most recent NFIB Small Business Problems and Priorities Report ranks “locating qualified employees” as one of the top 10 struggles of small businesses....

Aug 02, 2017

Cash Accounting vs. Accrual Accounting: Which is Right For Your Firm?

If you are a new business owner, you have undoubtedly already tackled many decisions regarding your company operations. However, one of the most impactful choices to make is whether you should use the cash or accrual accounting method. Since this...

Jul 19, 2017

Why Budgeting is Important for Business: 3 Reasons You Need One


Ask any small business owner what a budget is and they will likely respond with something like this: a financial plan for a firm's future that projects revenue and expenses. Ask them if they have one, however, and you may get a variety of...

Jul 13, 2017

Why Do A Bank Reconciliation: 5 Reasons to Reconcile Monthly

First things first, for those new to reconcilation, to reconcile a bank account means to identify and explain the differences between the entries in your accounting system and the corresponding transactions listed on your bank or credit card...

Jun 20, 2017

7 Essential Features Your Finance Dashboard Must Have

When you're on a road trip, how often do you check the gauges on your car’s dashboard? Routinely, if you're like most people. Those indicators tell you important information like where you are in your journey, how you’re tracking relative to...

Jun 08, 2017

A Guide to Internal Controls for Small Business

Are you tired of inaccurate financial reports? Do you lay awake at night wondering if someone might be exploiting your systems for personal gain? Are you confident your data is secure?

Jun 02, 2017

Small Business Focus: The Key to Drive Profits

In a former career, I analyzed hundreds of small business acquisition opportunities through the lens of a private equity investor. If there's one thing I learned from that experience, it's that the firms with the highest valuations, biggest...

May 17, 2017

Why Financial Reports for Small Business Should be Game Changing

The minute the bookkeeper hands you the latest financial reports, you check the top and bottom lines. But once you have the big picture, you’re ready to dig into the details. All too often, the out-of-the-box income statement, balance sheet and...

May 10, 2017

Top 5 MSP Bookkeeping Challenges with Subscription Billing

As the reality of cloud-based business technology catches up to the hype, MSPs (Managed Service Providers) face fundamental changes in their revenue models. Project-based billing and margins on hardware sales are being replaced by recurring...
May 08, 2017

Get Tighter Control of Your Business with Outsourced Bookkeeping

As a business owner, it’s natural to be hesitant to hand over the reins of your accounting processes and financial reporting to an outsourced bookkeeping firm. You trust your in-house bookkeeper to file the taxes, get the bills out on time and do...

Apr 29, 2017

Mud Season is the Perfect Time to Build Profits. Really.

Last weekend, I took my retriever, Fletch, for a run in the woods and found myself post-holing through the snow. With every stride, I sank ankle deep into the soft snow, slowing me to a crawl as the mud below tried to suck the shoes from my feet....

Feb 28, 2017

9 Advantages of an Outsourced Finance Department


If you receive accurate, insightful financial and operating reports each month -- without taking time away from where you need to be adding value -- and that information fuels the decisions that drive your business month after month, then...

Jan 26, 2017

10 Steps to Better Financial Insights From Your Finance Function

As operators, we know how many balls a small business owner needs to keep in the air. Days are spent on sales, operations and the crisis of the day, leaving nights and weekends for administrative tasks such as preparing the reporting required for...

Dec 12, 2016

Outsourced Bookkeeping: Your New Best Resource

Sure, every small business could use a new sales person who can “make it rain,” but in 2017, we recommend you look to another – less obvious – position to fill the most important gap on your team (or that of your client or portfolio company)....

Nov 17, 2016

5 Questions Every Owner Should Ask Their Financial Controller

A small business owner places a great deal of faith and responsibility on their financial controller. If you don’t yet have a financial controller, read on to ensure you or other members of you team are filling this critical need. Much of your...

Oct 31, 2016

9 Reasons to Entertain a Bookkeeping Career

There are so many reasons why anyone would want to consider a bookkeeping career. This article addresses the most compelling motivations below, but first, we thought it was important to clearly define what a bookkeeper is and describe exactly...

Sep 30, 2016

Small Business Insights: What your Reporting Should Reveal about Your Business

Are you thirsting for more business information?

You know that feeling when you’re so thirsty that you just can’t stand it anymore? Sweat is beading on your brow, you’re parched and all you can think about is a pint of cold water (or beer!). 

Aug 31, 2016

2 SaaS Metrics Every Software-as-a-Service (SaaS) Firm Must Master

Let’s face it: As the CEO or leader of a growing Software-as-a-Service (SaaS) firm, you have your hands full. Whether you’re busy onboarding new customers, retaining existing customers, hiring to meet anticipated demand, managing your board or...

May 31, 2016

3 Questions to Ask a Bookkeeper

As strange as it may sound, many small business owners are reluctant to engage with their bookkeeper as often as they should. Most report that they don’t feel qualified to proactively manage someone in finance, which can be intimidating to those...

Apr 30, 2016

How to Find Gross Profit Percentage: 9 Ways Yours is Misleading You

Gross profit is gross profit, right? The math is simple enough. Revenue less the cost of goods yields your gross profit. Divide that figure by your total revenue for the same period and you have your figure. Unfortunately there's more to it than...

Mar 31, 2016

5 Step Guide to Get a Business Loan

So you have your next great growth idea in hand.  The catch is you need cash to implement it.  Before dusting off your suit and marching off to the bank, consider these five critical elements to get a business loan that best meets your specific...

Feb 23, 2016

4 Steps to Useful Cash Flow Projections

Profits don’t pay bills, cash does. Just because a firm is profitable doesn’t mean it won’t run out of cash. Cash flow projections may be the single most important business planning activity you perform, in good times or bad. Whether you are...

Jan 26, 2016

Balance Sheet vs Income Statement: Where to Seek Key Insights

Many small business owners aren't certain where to look for key insights. Balance sheet vs income statement? After two articles dedicated to balance sheets - on why and how to use your firm's balance sheet - it's time to turn our attention to the...

Dec 17, 2015

3 Ways to Use and Understand a Small Business Balance Sheet

You’re in good company if you aren’t comfortable reading a balance sheet. So create some separation from your competitors by following these 3 ways to understand and begin using your small business balance sheet.

Nov 30, 2015

Why Use a Balance Sheet: 3 Reasons to Start Today

Lots can be found online about how to read a balance sheet. In fact, our next blog article, written with the small business owner in mind, will cover how to read and use yours in a few simple steps. But what’s less clear is why a small business...