Monthly Archives: June 2012
If your Accounts Receivable balances are edging up and getting older and older each month, then it might be a good time to bring out the aging reports. But what if we looked earlier in the cycle to see what we could do to collect the sales even sooner? Make it easy for customers to pay you. Let’s take a look at five potential changes you can consider making that will speed up your cash flow, reduce aging receivables, and possibly reduce lending costs in your business.
If you’re like most QuickBooks users, you rely on the Profit & Loss Standard report to monitor how your business is doing. However, you may have noticed that it rarely, if ever coincides with what’s in your bank account (hint: it’s not supposed to). An overlooked, yet valuable report, is the Statement of Cash Flows. The Profit & Loss Standard (P&L), provides only partial insight into the health of your business – what you earned and spent. The Statement of Cash Flows explains your change in cash on hand. Continue reading
Each month, you may anxiously await the reports that provide the numbers that help you manage your business. Revenue, net income, total expenses, and payroll costs are just a few of the items that you may be monitoring on your profit and loss statement. Those numbers will help you meet and improve your business goals, but the question is, what numbers are you using to determine if you are meeting your life goals? Continue reading
Next to payroll, paying bills is probably your least favorite task in QuickBooks. There are two ways you can handle this – the slow way or the fast way! Continue reading