Valuable Money Lessons Learned Last Year
As we reflect on this past year, these five money lessons stand out as game changers that can reshape how we handle our business finances going forward.
As we reflect on this past year, these five money lessons stand out as game changers that can reshape how we handle our business finances going forward.
New year, new systems, right? If there’s ever a perfect time to set up a financial system for your business, it’s now. Whether last year felt like you were juggling way too much or you’re determined to hit new goals this year, having a clear, organized money system can make all the difference.
Healthy financial understanding is a key part of running a successful business and I want to walk you through some financial strategies for maximizing your profit.
I know many business owners get overwhelmed when they look at their financial statements. What do the numbers really mean? What SPECIFICALLY should you be looking at? Today’s post is going to cover a couple quick financial tips on exactly WHAT you should be looking at on your Income Statement each month to help review if you’re as profitable as you could be in your boutique business.
Have you ever gotten to the end of a successful business month and wondered, “Where did all that money go?!” A statement of cash flows (SOCF) can help you answer that question!
Most of the business owners I work with are familiar with the Profit & Loss statement (if you’re not, no shame! You can check out this post to get a little more familiar with it, so maybe you can see that your bottom line was KILLER last month, but your bank account simply doesn’t reflect it.
The best way to see where your money actually goes each month is to look at the Statement of Cash Flows (SOCF). Unfortunately, this is a report that many business owners are unfamiliar with, but any good bookkeeping software (like Quickbooks Online) will have this report readily available for you! So, let’s cover the highlights…
3 Types of Expenses in a Budget: Fixed, Variable and Related In order to feel REALLY in control of your money each month, you need to have a PLAN for that money. That’s where the budget comes in! This post is going to detail out the 3 types of expenses in a budget, and how …
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7 Types of Spending Activities in Your Retail Store (and how each should be tracked for tax purposes) Keeping track of all your spending activities in your retail shop is one of the key components of bookkeeping. In order to do so correctly, it’s important that you understanding that there are different types of spending …
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I’m here to tell you how the Profit First system works, and how you can use it to help manage the cash in your retail business.