One of the best tools to forecast cash requirements is the 13-week cash flow forecast. It can help a business owner predict what their cash balance will be 13 weeks in the future. It helps to answer whether there will be enough cash to cover payroll and bills for a particular week. If you’re having […]
Are you thinking about hiring a new employee? Whether you’re hiring your first employee or your hundredth, here’s a checklist of items to keep you on track with all of the related tasks and requirements.
Hiring a new employee is a big accomplishment in any small business, and there are a lot of steps involved, too. Here’s a handy checklist to help you stay organized when you bring that new hire on board. First things first, the legal and accounting items: Signed employment agreement, typically an offer letter. There may […]
Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of thinking and doing business. Internal control helps to […]
A quick glance is all you need to check your fuel gauge, speed limit, engine temperature, and RPM when you’re driving down the road. Your car’s dashboard is designed to focus you on what’s important and what you need to know to have a safe trip. Your car’s dashboard items, if they applied to business, […]
If you have employees, you have the distinct honor once per year of being part of a worker’s compensation audit. You likely receive a form in the mail, an email request, or a phone call that will ask you about your payroll numbers and employees for the prior year. Worker’s compensation is an insurance program […]
Would you call yourself a procrastinator? If so, you’re not alone, and with our to-do-lists growing daily, the percentage of people who procrastinate chronically has increased over the last few decades. There’s a difference between procrastinating and prioritizing. Great entrepreneurs know how to put the most important tasks first. There’s also a difference between procrastinating […]
As business owners, we want to remain optimistic about our business’s future. But life can happen, and we need to be prepared. A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them. In 2017, we’ve already had floods in the Midwest and […]