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BizBoost News Volume 8, Issue 8 For distribution 10/8/18; publication 10/11/18
Training Fido to Fetch More than a Bone
While “fetching” might be what some trained dogs can do, accounting systems are getting into the act too. This relatively new feature is called “receipt fetching,” and it’s when an app can retrieve documents directly from the vendors that you do business with so you don’t have to spend so much time on paperwork retrieval.
Apps that can perform receipt fetching can integrate with your accounts and pull invoices into their system. For example, if your business has an account with a utility or telecom company, the receipt fetching app can pull the electricity, water, or telephone bills into your receipt fetching app account and consolidate them.
The benefits are simple. You save time, certainly. But the bigger benefit is you no longer have a monthly deadline to get your documents to your accountant -- at least for all the documents that can be automated in this way. This reduces stress and eliminates minutiae from your day.
Accountants benefit too. No accountant likes to spend their time asking clients for documents over and over again. We know you have better things to do with your time, and we know you probably hate doing the paperwork. Receipt fetching is an easy way to get the job done.
To take advantage of receipt fetching, the first step is to select a receipt-fetching app. A few of the apps to select from include LedgerDocs, ReceiptBank, HubDoc, and Greenback. Some of these apps do receipt fetching only, and others have many more functions.
The second step is to determine which vendor accounts are supported, and to connect with them. Generally speaking, the connection is based on your account credentials, so if those change, the connection will need to be updated. When many of your documents can be pulled into one place, you don’t have to spend time logging into each vendor portal to pull receipts.
If you’re curious about how to benefit from receipt fetching in your business, please feel free to reach out.
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Our latest blog: Training Fido to Fetch More than a Bone. Subscribe here: [link]
Curious about how to benefit from receipt fetching in your business? Find out more: [link]
Biz Tip: Apps that can perform receipt fetching can integrate with your accounts and pull invoices into their system. [link]
To take advantage of receipt fetching, the first step is to select a receipt-fetching app. Find out more [link]
Save time and reduce stress with receipt fetching. [link]
Retrieve documents directly from the vendors that you do business. Find out more here: [link]
What is receipt fetching and how can you use it in your business? [link]
Training Fido to Fetch More than a Bone. Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 7 For distribution 9/23/18; publication 9/27/18
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 thinking and doing business.
Internal control helps to reduce organizational risk. A blunt way of putting it is internal control is what you put in place to avoid mistakes, intentional or accidental, and to control accuracy and quality. It impacts every aspect of an organization.
As a small business, you’ll want to be familiar with the concept because it can help you reduce risks you might not realize you have. Here are some practical examples of good ideas that support internal control:
There are literally hundreds of internal control procedures that should be implemented in small businesses as they grow into larger businesses.
Internal control is typically a big part of an audit or an attest function in accounting; it determines how many additional procedures an auditor needs to do in order to provide assurances about the reliability of the financial reports. But it’s also just good plain common business sense to implement as many internal control processes as are cost-effective for your business to protect it at the level of risk you’re comfortable with.
If you’d like to discuss the idea of internal control further, please feel free to reach out any time.
Our latest blog: The Concept of Internal Control. Subscribe here: [link]
Can internal control save your business? Find out more: [link]
Biz Tip: Internal Control can help you reduce risks you might not realize you have. [link]
There are literally hundreds of internal control procedures that should be implemented in small businesses as they grow into larger businesses. [link]
Start implementing internal control by having employees sign equipment in and out if they take it home. [link]
Internal control helps to reduce organizational risk. Find out more here: [link]
Do you have any internal control procedures in place? [link]
The Concept of Internal Control. Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 6 For distribution 9/9/18; publication 9/12/18
5 Ways to Make Your Business More Efficient
A great entrepreneur will always be on the lookout for ways to improve their business. Efficiency is a goal everyone wants to achieve when it comes to business because it can translate into less work and more profits. Here are five ways you and/or your staff can become more efficient in your business.
1- Get software-savvy.
Do you use the same software apps day in and day out? If you do, ask yourself how well you really know them? Are you able to just get by or are you a whiz with deep knowledge? If you’re just getting by and spending a lot of time wandering around or undoing things, you may want to take a course in that software.
The deeper our knowledge is in the apps we use every day, the more proficient we can be. This is true of all of your staff as well.
2- Reward new suggestions.
Your staff will be the first to know where there are bottlenecks and hiccups in your processes. Encourage them to speak up when they find something that could be improved. Listen to their ideas and reward the good ones. Implementing ideas from your business’s “front line” will increase its overall efficiency.
3- Watch your time.
How do you spend the bulk of your day? Working on new strategic projects, fighting fires, or a little of both? An honest evaluation of how you spend your time can yield many ideas about what’s going right and what needs work in your business.
Allocate at least an hour a day to work “on” your business instead of in it. That time is the only way your can move your business to the next level. If you’re the CEO, the focus should be more external than internal, more proactive than reactive, and more strategic rather than operational.
4- Avoid “bright shiny object syndrome.”
Are you easily distracted by an email (that you didn’t realize waylaid you into an hour of unproductivity), a web link, or a conversation? It’s crazy-easy to get sidetracked right in the middle of a task these days. It’s also easy to purchase something that looks great without doing your homework.
One way to avoid unnecessary purchases is to get three bids from potential vendors on all major purchases for your business. Make it a procedure so that you’re not lured into fancy marketing and items you might not ever use once you see the fine print.
5- One person’s trash is another’s treasure.
When you start to look around your office, you might be surprised at all the things you haven’t used in a while. Laptops that have been replaced, office supplies that were accidentally double-ordered, those folders you were going to use two years ago for a marketing campaign, even extra desks and chairs that are now empty: all of these items could be recycled to not only free up space but also get you some cash.
Which idea do you like best? Try it next week to improve your business efficiency.
Our latest blog: 5 Ways to Make Your Business More Efficient. Subscribe here: [link]
Are there ways you can make your business more efficient? Find out more: [link]
Biz Tip: Allocate at least an hour a day to work “on” your business instead of in it. [link]
Encourage your staff to speak up when they find something that could be improved. [link]
The deeper our knowledge is in the apps we use every day, the more proficient we can be. [link]
One person’s trash is another’s treasure. Find out more here: [link]
Is your business running efficiently? [link]
5 Ways to Make Your Business More Efficient. Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 5 For distribution 8/27/18; publication 8/30/18
Should You Have a Financial Dashboard?
A quick glance 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 you on what’s important and what you need to know to have a safe trip.
Your car’s dashboard items, if they applied to business, would be called key performance indicators or KPIs. Unlike a car’s, the KPIs of your business vary depending on your business goals and what’s important to you. Common ones might include your cash balance, how fast you get paid, how much revenue is coming in, and whether you’re making plan. There are literally hundreds of them to choose from, and many of them are not derivable from your financial statements, such as number of orders, client satisfaction levels, and employee turnover.
Would it be useful to have a dashboard of KPIs for your business so you can know what’s working and get alerted to what needs focus? Here are the steps to creating a dashboard for your business:
There are many great KPIs available right in your accounting system, which might be plenty to get started with. And there are some real gems outside your accounting system that will take a bit of work to calculate. In any case, we can help you through this process. Feel free to reach out to us any time to discuss the possibilities of having a dashboard in your business.
Our latest blog: Should You Have a Financial Dashboard? Subscribe here: [link]
Would it be useful to have a dashboard of KPIs to keep an eye on how your business is performing? Find out more: [link]
Biz Tip: There are many great KPIs available right in your accounting system to create your own financial dashboard. [link]
The KPIs of your business vary depending on your business goals and what’s important to you. [link]
Common KPIs might include your cash balance, how fast you get paid, how much revenue is coming in, and whether you’re making plan. [link]
A financial dashboard can give you a snapshot of how your business is performing. Find out more here: [link]
Do you know how to track your KPIs using a financial dashboard? [link]
Should You Have a Financial Dashboard? Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 4 For distribution 8/13/18; publication 8/16/18
How to Survive a Worker’s Comp Audit
If you have employees, you have the distinct honor once per year of being part of a worker’s compensation audit. You likely receive a form in the mail, an email request, or a phone call that will ask you about your payroll numbers and employees for the prior year.
Worker’s compensation is an insurance program that covers employees in the case they get hurt on the job. Each employee receives a classification code that describes the type of work they do, and a rate is figured based on the classification and its risk factors.
If you’ve hired anyone throughout the year, you might need to get a new classification by contacting your provider. If you have employees working in different locations (especially different states), that matters too.
The audit form will typically ask for gross payroll numbers by employee or by category or location of employee. That’s easy enough, but seldom does the policy run along your fiscal year, so the payroll figure needs to be prorated to match the policy period.
Your numbers need to tie back to the numbers reported on your quarterly payroll reports for both state and federal. The provider may also want copies of your 941s and your state payroll reports.
Once you’ve submitted your numbers, the insurance provider will calculate whether they owe you or you owe them additional fees.
The worker’s compensation audit happens every year (even if you pay worker’s comp premiums each pay period, some companies still request an annual audit). It’s not difficult, but it is time-consuming. If this is something you’d like our help with, please feel free to reach out.
Our latest blog: How to Survive a Worker’s Comp Audit. Subscribe here: [link]
Need help with your annual workers comp audit? Find out more: [link]
Biz Tip: If you’ve hired anyone throughout the year, you might need to get a new worker’s comp classification code by contacting your provider. [link]
A worker’s comp audit is not difficult, but it is time-consuming. [link]
If you have employees, you have the distinct honor once per year of being part of a worker’s compensation audit. [link]
Survive a Worker’s Comp Audit with ease. Find out more here: [link]
Is filling out your workers comp audit form taking too much valuable time? [link]
How to Survive a Worker’s Comp Audit. Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 3 For distribution 7/30/18; publication 8/2/18
Setting Up Products and Services
The products and services your business sells make it unique. The same thing is true of how these items are set up in your accounting software. Whether you’re using QuickBooks Online or something else, getting your products and services set up right can impact the quality of the information you can get out of your accounting system.
Here are the types of items you can set up in most systems.
Inventory item
Inventory items are used in retail and wholesale businesses. They are physical items that the system can keep count of for you. You can purchase or make the items, and the associated cost is usually tracked when a shipping receipt or bill is entered. They are sold when a sale is made and an invoice or sales receipt is entered.
Transactions using inventory items impact a lot of accounts on both the balance sheet (cash, accounts payable, accounts receivable, and inventory) as well as the income statement (cost of goods sold, sales, and returns). The inventory item can be tied to default sales and purchase accounts in most systems.
Non-inventory item
QuickBooks offers a type of item called a non-inventory item. There’s a big difference in that non-inventory items do not have quantities associated with them. They don’t increase or decrease the inventory account. But they are able to be tied to default sales and purchase accounts like inventory items above.
Examples of non-inventory items include items purchased for a specific jobs, such as a contractor purchasing appliances for a custom home, items you sell but do not buy, such as an ebook or other digital product, and items you purchase but do not sell, such as shopping bags.
Service item
A service item is a special type of non-inventory item. There are no quantities, which makes sense because services are not physical items. They also are only connected to a sales account and not a purchase account.
With service items, you could set up service packages or hourly rates.
Bundle
A bundled item is a group of items that were designed to be sold together. For example, if you sell a gift basket of coffee products, you would bundle the items used to create the basket.
Assembly Item
An assembly item is a special type of inventory item where the quantity is tracked, but it differs from an inventory item in that it can’t be sold separately because it is a component and not a whole item. Assembly items are available in larger accounting and inventory apps, such as QuickBooks Enterprise, and are used in conjunction with a Bill of Materials or other build feature.
An example is a set of shelves. The assembly components are the individual shelves and the frame pieces that you may want to keep counts of. An inventory item that contains the shelves, the frames, and other parts is “built” from the assembly items. The nuts and bolts could be non-inventory items or assembly items, depending on whether you wan to keep count of them or not.
Sales Tax
Sales tax is a very special type of item used on an invoice or sales receipt to calculate sales tax due on the order. In many accounting systems, it’s usually kept in a separate list from the other product and service items. Rates can be entered for each sales tax jurisdiction.
Other
Some systems have an “other” category to capture items such as freight, shipping, handling, and other add-ons to the sale.
Tracking Profitability
Setting up the right type of products and services is critical to matching costs and revenue for accurate insights into gross margin. This section of your accounting system is also the one that’s most different from industry to industry and company to company. Be sure you get professional help from experts who know both the software and your industry for best results.
Our latest blog: Setting Up Products and Services. Subscribe here: [link]
Are you entering your products and services into QuickBooks correctly? Find out more: [link]
Biz Tip: Setting up the right type of products and services is critical to matching costs and revenue. [link]
Examples of non-inventory items include items purchased for a specific job. [link]
An assembly item is a special type of inventory item where the quantity is tracked, but it differs from an inventory item in that it can’t be sold separately. [link]
The way you list your products and services in QuickBooks is more important than you might think. Find out more here: [link]
Did you know that the way you list an item in QuickBooks can affect the quality of information you get out of your accounting system? [link]
Setting Up Products and Services. Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 2 For distribution 7/16/18; publication 7/19/18
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 resources and, in some cases, improve our profits.
Fixed asset management is a discipline that requires keeping good records of the assets a company owns. In the case of furniture and equipment, many businesses place an asset tag on the item and assign it a number that goes in a spreadsheet where data is kept about the item. There are also software apps more sophisticated than spreadsheets that track all of the fixed assets for a company, including original cost, depreciation method and history, and tax treatment.
You never know how many of an item you might have until you record and count them. How many computers (and computer parts) do you have lying around your office? Extra desks and chairs? Maybe you even have extra office space or extra land.
Part of being a great entrepreneur is fully utilizing all the resources you have at your disposal. Where can you put to better use the extra assets you have? Could you sell the surplus items? Or donate them for a write-off? Do you have extra room to rent out to a tenant, earning rent?
Sometimes we’re so focused on operating the core of our business that we don’t see what else is a money maker right in front of us. In addition to focusing on income and expenses from operations, consider the resources you have in your fixed assets.
At the very least, consider developing a spreadsheet that tracks the major items your business owns. Or reach out to us, and we’ll help you develop a fixed assets schedule and tracking process for your business.
And if you do sell some of your fixed assets, be sure to reach out to us so we can help you book the transactions properly.
Our latest blog: How to Cut Costs with Fixed Assets Management. Subscribe here: [link]
Do you know how fixed assets management can cut costs? Find out more: [link]
Biz Tip: Consider developing a spreadsheet that tracks the major items your business owns. [link]
Fixed asset management is a discipline that requires keeping good records. [link]
Fixed asset management is another place we can look to find ways to better utilize our business resources. [link]
Fixed assets are special kind of assets in your business. Find out more here: [link]
Where can you put to better use the extra assets you have? [link]
How to Cut Costs with Fixed Assets Management. Sign up for our newsletter: [link]
BizBoost News Volume 8, Issue 1 For distribution 7/2/18; publication 7/5/18
5 Tips on Bringing Home the Bacon
Whether you call it bacon, Benjamins, or big bucks, cash – and having enough of it – is key to running your business. Here are five tips related to managing and getting the most out of your business cash.
1- All banks are not the same.
Choose your bank wisely, and don’t be afraid to switch if you need to. Banks know they have a “high switching cost,” which means it’s one big time-consuming hassle for customers to change banks.
A couple of things that are important when choosing banks (some of which we never knew to ask five years ago) include:
Accountants have experience with banks, so if you are in the market for a new one, feel free to reach out and ask us our opinion on the easiest bank to work with.
2- Keep the number of cash accounts to a functional minimum.
Certainly, you’ll need at least a business checking account, often a business savings account, a business PayPal account, and perhaps a petty cash fund. You may also want a separate account for payroll; a lot of companies do. But if you need more accounts, there should be a functional business reason to support them. That’s already a lot of accounts to reconcile and keep track of each month.
The same is true of credit card accounts. It’s the keep-it-simple approach.
3- Reconcile all of your cash accounts every month.
Keeping all of your cash accounts reconciled each month is a good idea. If a bank error, accounting mistake, or even fraud occurs, you can catch it and get it resolved more quickly than if you delay.
You’ll also have more accurate information about your balances and can move and manage your money better.
As you learn your balances each month, you can also move money around. Unless you spend a lot out of PayPal, plan to move that money to pay off debt or into your checking account on a regular basis.
4- Maintain a cushion in your checking account.
If your checking account hovers close to zero more often than not, you may be wasting precious time watching your bank balance instead of spending time to manage your business. If you make a small error, you may get hit with costly overdraft fees, making your cash situation even worse.
Instead, consider depositing a fixed amount, like a cushion, that you never spend. You won’t get overdraft fees, and you won’t have to watch your balance so closely. You may give up some interest income, but the time freed up and the reduced worry will be worth a few extra pennies.
5- Watch your liquidity.
Cash is to business as water is to people; we can’t live without it. Make sure you have enough to cover future obligations, and when possible, build up several months of reserve for emergencies. Anything that you can liquidate quickly, such as accounts receivable, can count toward this fund too.
Try these five cash flow tips to keep bringing home the bacon in your business.
Our latest blog: 5 Tips on Bringing Home the Bacon. Subscribe here: [link]
Need some tips on your business’s cash flow? Find out more: [link]
Biz Tip: Keep the number of cash accounts to a functional minimum. [link]
Consider having a cushion in your checking account that you never spend. [link]
Make sure to reconcile all of your cash accounts every month. [link]
All banks are not the same. Find out more here: [link]
Have you chosen the right bank to do business with to make sure you’re bringing home the bacon? [link]
5 Tips on Bringing Home the Bacon. Sign up for our newsletter: [link]
BizBoost News Volume 7, Issue 25 For distribution 6/4/18; publication 6/7/18
Do You Spend Too Much Time on Email?
If you feel like you spend too much time on email, you’re not alone. Almost everyone feels the same way. That’s why it’s so important to learn how to be as productive as possible when it comes to handling email. Here are five tips to help you do just that.
1- Automate your emails.
If you’re sending a lot of the same emails to clients, you may be able to add them to email list management software like Constant Contact or MailChimp. Then you can automate a series of emails using the autoresponder function.
Another way to automate your emails is to set up inbox rules so that certain emails are automatically filed into the folders you’ve set up. For example, if you get a monthly email for a recurring bill payment, you could send it straight to your bills folder if you don’t want to read it. This will save time in the morning when you sort through the pile of email that’s sent overnight.
2- Set a timer.
Make a habit of checking your email only once or twice in the day. Plan those times on your calendar and set a timer to stop if you need to. This employs time batching, one of the most productive ideas in time management. It’s unproductive to stop and read each email exactly as it comes into your box, so setting times restructures the way you work with email for the better.
3- Create draft email answers of your ten most frequently asked questions.
Do you get a lot of the same questions over and over again in your email? Don’t start from scratch each time you craft an answer. Start with a draft of a previous answer, make it generic, and save it in your drafts folder. When you get that question again, copy and paste the draft and customize it as necessary.
Repeat this for your top ten (or twenty) most-asked questions or emails that you send. You’ll shave minutes off each email reply from now on.
4- Learn the email software you’re using.
Sure, everyone pretty much knows how to send, reply to, and forward emails. Most even know how to add attachments. But what else do you know and use on a regular basis?
If you are tech-savvy, then simply spend some time reviewing your email settings and functions. There may be some you discover that will make your day.
If you don’t feel very comfortable with all things technical, then sign up for a formal course, preferably in person, where you have a real human teacher that can answer all your questions. It will be a day well spent.
5- Set up folders.
Folders, labels, or categories in your email software are all good ways to segment email so that it can be processed in a particular order. Your folders might be by priority, client, service type, or something else. In any case, it’s easier on your brain to answer all questions from one client or topic at a time than it is to ping-pong back and forth.
Use folders when you are complete with an email but want to save it for future reference. That way, your inbox will stay cleaner and emptier.
6- Use the search function.
Using the search function liberally in your email software when you need to find an old email will help you save tons of time.
7- Get a new email address if your current email address is too spammy.
You may be losing the spam battle with email addresses that have been used for more than a few years or that have been hacked. If so, the best solution might just be to switch to a new email.
Choose a good email address in the first place by staying away from email addresses that hackers can guess, like webmaster@yourdomain.com, sales@yourdomain.com, or info@yourdomain.com. Instead use service@yourdomain.com or a version of your first and last names.
Try these email productivity tips to help you spend less time on email while still getting the job done.
Our latest blog: Do You Spend Too Much Time on Email? Subscribe here: [link]
Do you want to be more productive when using your email? Find out more: [link]
Biz Tip: Folders, labels, or categories in your email software are all good ways to segment email so that it can be processed in a particular order. [link]
Try these email productivity tips to help you spend less time on email while still getting the job done. [link]
Here are five tips to help you handle your email. [link]
Learn how to be as productive as possible when it comes to handling email. Find out more here: [link]
Are you spending too much time on email? [link]
Do You Spend Too Much Time on Email? Sign up for our newsletter: [link]
BizBoost News Volume 7, Issue 23 For distribution 5/7/18; publication 5/10/18
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.
The income statement can give you all kinds of insights as to whether you are bringing in enough sales, if your prices are generating enough profit, and how your expenses are running. Let’s take a look at the report, step by step.
Revenue
The report starts by listing the revenue for the period of time covered. Revenue includes all sources of income, including sales from operations, interest and investment income, revenue from insurance claims, sales from assets or other parts of the business, and any other source of revenue. In most small businesses, sales will be the largest part of the revenue, if not all of it. In some countries, the term used for sales is turnover.
If you sell more than one item or have more than one location, it might be a good idea to be able to view the sales detail from these categories. This may or may not be on your income statement depending on how formal it is, but you should be able to get a drill down report on your sales detail.
Look for exceptions to what you expect to see. There can be some decisions you can make and actions you can take from the insights you discover.
Cost of Goods Sold
This section of the income statement includes costs you incur directly on items you sell. If you maintain an inventory, it’s the cost you paid for the inventory items that you sold during the period. If your business is a manufacturer, cost of goods sold, or COGS, will include costs of materials and labor to produce the items.
If you own a service business, COGS will typically be zero. As a service business, you may incur direct costs when providing services, and these costs can be booked in a variety of expense accounts, including supplies.
Gross Profit
Some income statement formats will include a gross profit number which is sales minus cost of goods sold. This number is important for businesses with inventory.
Expenses
The expenses section of the income statement is the longest part. It includes all of the expenses you incurred in your business, including advertising and marketing, rent, telephone, and utilities, office supplies and meeting expenses, travel, meals, and entertainment, payroll and payroll taxes, and several more.
You might also hear the term overhead. Overhead is a subset of expenses that have to be met whether you sell zero items or millions. They include items like rent and utilities, management payroll, and office supplies.
To review your expenses, check line by line to see if anything looks out of sorts, and take the appropriate action.
Net Profit or Loss
The final number on your income statement represents whether you made or lost money in the period the report covers. The formula is simple: revenue less COGS less expenses equals net profit or loss.
Net profit/loss can go by many names, depending on the size of your business and your accountant’s vernacular. You may also see EBITDA: Earnings before interest, taxes, depreciation, and amortization. Earnings is another word for net profit.
Perspective
It’s a good idea to compare your income statement numbers to other periods in your business. Common comparisons include last period, last several periods, and same period last year.
It’s also a great idea to have a budget that sets goals for your income statement numbers. Then you can compare budget to actual numbers and take action on the variances.
If your business falls into a standard type of business, you may also be able to see how it is doing compared to others in your industry. This is called benchmarking, and the income statement is a very common format that’s used in benchmarking.
Do spend some time each period reviewing your business’s income statement. It can help you make a faster course correction in your business so you can be even more successful than you already are.
Our latest blog: How to Read Your Income Statement. Subscribe here: [link]
Do you want to learn how to read your income statement? Find out more: [link]
Biz Tip: It’s a good idea to compare your income statement numbers to other periods in your business. [link]
Take a look at your income statement, step by step. [link]
Spend some time each period reviewing your business’s income statement so you can be more successful in your business. [link]
The income statement of any business is probably the most important report of all. Find out more here: [link]
Are you bringing in enough sales in your business? The income statement can give you all kinds of insights. [link]
How to Read Your Income Statement. Sign up for our newsletter: [link]
