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What’s the Best Accounting Method to Track Credit Card Expenses?
As an accounting consultant, business owners often ask me about credit card expenses. Clients wonder, “Is it important to track credit card expenses like you would a vendor bill?” “How much detail do I need to keep?” And, “Should I include the detail in my accounting system, or keep it in an offline system?”
Let’s tackle the broader question first.…Read More -
6 Ways to Get More Value From An IT Consultant
IT consultants are many things — experts in their field, champions of the workaround and, generally, the “people persons” of the tech field. But they’re not magicians who, with the wave of a smartphone, can solve any dilemma you throw at them. Here are six ways to get more value from your company’s next IT consulting relationship: 1. Spell out…Read More -
Association Health Plans Get a Shot in the Arm
On June 19, 2018, the Department of Labor issued its “Final Rule” modifying the operation of Association Health Plans (AHP). The primary purpose of the new rules is to make it easier for smaller, unrelated employers to band together and enjoy some of the benefits that larger employers do. As with any new government initiatives, there will be additional regulations issued…Read More -
Get SMART When It Comes to Setting Strategic Goals
Strategic planning is key to ensuring every company’s long-term viability, and goal setting is an indispensable step toward fulfilling those plans. Unfortunately, businesses often don’t accomplish their overall strategic plans because they’re unable to fully reach the various goals necessary to get there. If this scenario sounds all too familiar, trace your goals back to their origin. Those that are…Read More -
2018 World Cup: The Untold Stories and True Golden Boot Winners
OK, when you first hear me speak, it’s pretty clear right away I’m from England. Yes. Born and bred (GO, MAN U)! Like my fellow mates across the pond, I was absolutely obsessed with the World Cup this year. While the England squad didn’t hoist the big trophy, the young lads did all of us proud. As I’m still reeling…Read More -
3 Keys to a Successful Accounting System Upgrade
Technology is tricky. Much of today’s software is engineered so well that it will perform adequately for years. But new and better features are being created all the time. And if you’re not getting as much out of your financial data as your competitors are, you could be at a disadvantage. For these reasons, it can be hard to decide…Read More -
Could Your Next Business Loan Get Ratio’d?
We live and work in an era of big data. Banks are active participants, keeping a keen eye on metrics that help them accurately estimate risk of default.
As you look for a loan, try to find out how each bank will evaluate your default probability. Many do so using spreadsheets that track multiple financial ratios. When one of these…Read More -
Real Estate: A Great Option for Long-term Growth and Strategic Investment
I am often asked by many of our business owners where else they should invest to ensure they will have enough money to live off of in the future. All have successful businesses that are the bulk of their net worth and are looking for ways to diversify their assets. A lot of people think of real estate as not growth-oriented…Read More -
3 Age Old Problems Solved in One Afternoon at the Movies
I took my kids to see the new Star Wars movie over the holiday, and it was an amazing experience. Not because I finally got to see how Han Solo made the Kessel Run in less than 12 parsecs. Not because I now understand why Han shot first. No, the part of this experience that was amazing was using my…Read More -
A Midyear Review Should Go Beyond Financials
Every year is a journey for a business. You begin with a set of objectives for the month ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned.
The middle of the year is the perfect time to stop for a breather. A midyear review can help you…Read More -
Congrats, You’re a Graduate. Now Get Networking!
Congrats! You've done the hard work, you've stuck it out and now you're a college graduate. You've been thinking of this event for 4 (or more) years. Next comes the perfect job. The one you see your friends getting. The one your parent's friends brag about. The one that your grandparents keep asking about. Whether you've found the perfect job…Read More -
3 Ways to Supercharge Your Supervisors
The attitudes and behaviors of your people managers play a critical role in your company's success. When your managers are putting forth their best effort, chances are greater that you'll, in turn, get the best performances out of the rest of your employees. Here are three ways to supercharge your supervisors:
Transform them into teachers. Today's people managers must be more…Read More