I hope you have spotted some areas where money might be leaking out of your business. If you need some help or would like to investigate the possibility of having an outside company do an assessment of your current procedures, we would be happy to help. For professional bookkeeping services in Campbell River and the … Continue reading Next Steps
Even the top bookkeepers can’t make up for a business owner who’s disorganized and chaotic. Here are some common problems: Failing to track business mileage Losing receipts and therefore deductions, especially GST credits A chequing account that’s used for both business and personal All of these can cause more taxes than necessary to be paid. … Continue reading POOR OR NONEXISTENT RECORDKEEPING?
Do you know which jobs, customers, or projects are more profitable than others? The first step is to be able to measure revenue and expenses at the job, customer, or project level. Then you can compute your profitability at a more detailed level than the enterprise-wide number that’s on your Profit and Loss statement. There’s … Continue reading NOT MEASURING JOB OR CUSTOMER PROFITABILITY?
You can’t manage what you cannot measure. Even if you don’t sell services or charge by the hour in your business, time tracking will help you discover where you and your staff are spending time so that you can manage it. You need some way to know where your most valuable resource is going. Does … Continue reading NOT BENEFITING FROM TIME TRACKING?
Most business owners take care to reconcile their chequing accounts each month. But what about all the other accounts that need reconciling? Consider the following: Inventory PayPal accounts Bank Loans Merchant accounts Petty Cash Credit Card accounts Mortgages or Leases Prepaid or Deferred accounts You need internal controls in place to reconcile all of the … Continue reading NOT DOING ALL THE RECONCILIATIONS IN YOUR BUSINESS?
Many businesses suffer from this, but the reason is surprising: we’re sometimes too afraid to ask our customers for money. You’re not a bank! Don’t let other people use your hard earned money. The sooner you bill, the sooner you’ll get paid. Even better, rearrange your terms so that you receive a retainer or deposit … Continue reading INVOICING TOO SLOWLY?