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It is critical to plan for and adjust to your product or service sales cycles. Begin by reviewing the 10 critical steps to deliver a successful sales plan.  Each step will affect your resources, budget and cash flow. Properly executed, you will increase your sales and profits and delight
If there’s one mistake that can make or break your startup from the get-go, it’s failing to adequately understand the art of accounting. If you’re sighing “Boring” right now, then you really need to read on. Neglecting to maintain proper accounting records can
Is all of your filing up to date? If you’re like most business owners, there is a pile of it somewhere and you are laden with guilt and shame that you “can’t keep up with it.” You probably fantasize about hiring an intern some summer to do it but never find the time to
When developing a 13 Week Cash Flow Statement in a job shop, forecasting future business seems especially difficult due to the variety of jobs that might be won in future weeks. The solution is to select a few typical product or job types from experience, and forecast those as representative of
There’s nothing like a cash crisis in your business to make you take a hard look at how efficiently cash flows through your company. But don’t wait until you’re panicked about cash to improve your cash flow. You can and should take steps now to improve the financial health of
Forecasting sales, revenue, and cash for the next 13 weeks is the most difficult part of the 13 Week Cash Flow Statement for a small business because it is the least certain.  But this task has some easy parts too. The first step is to forecast known revenue and costs – those for
How to Choose Accounting Software If you are not already using accounting software in your business, doing so is one of the smartest steps you can take to save time, improve your cash flow and simplify processes. Perhaps you are using accounting software, but are ready to upgrade or need more functionality. Here’s how to
Barter Tax and Accounting Issues Barter transactions can provide your company with important financial, sales and marketing benefits. Like other transactions, however, barter sales are taxable, and your company must report them to the IRS. This is also true of credits you receive or spend through a barter exchange; regardless of
Cash vs. Accrual Accounting Methods Do you know the difference between cash and accrual accounting? This article explains the difference and its impact on your bottom line.
A Financial Statement Cheat Sheet for Business Owners Daniel Kehrer provides a “cheat sheet” to help you understand three basic financial statement flavors: Balance sheets, income statements and cash flow statements.

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