Make 2014 Your Best Year Yet: Understand Your Numbers
If you are a regular reader of the DeepSky blog, then you know I’m very passionate about helping entrepreneurs get a better handle on their accounting by understanding how their numbers drive outcome and help meet their goals. However, most entrepreneurs tell me they just don’t have the time or the personality to do this. […]
Be Strategic About When You Pay Bills
How to be strategic when you pay bills One of the biggest issues in anyone’s profitability is cash outflow. What is cash outflow? It is a fancy way of saying the money paid out by your organization. When I ask most of our client’s bookkeepers pay their bills, they say: “When we do our check […]
Finding the Accounting Firm That Fits Your Entrepreneurial Needs
During my career, I’ve seen clients come and go for a variety of reasons. Some went out of business. Some decided to move to Alaska. Some decided to move on to another accounting firm because we either didn’t offer the services they needed or we weren’t a good fit. My last blog post talked about […]
What Entrepreneurs Should Look for in an Accounting Firm
I was working at my “other” office the other day – my local coffeehouse, and noticed a meeting going on at the table next to me. From the conversation I overheard, it was obviously a discussion between an accountant and an entrepreneur. From the body language of the entrepreneur, I could tell the meeting was […]
How to Turn Numbers Into Insights
Scenario When we last visited with Steve, he was invoice rich, but cash poor. Having resolved that matter, he called again the other night. “Man, I just can’t make sense of all these numbers. I’ve been trying to look at my bottom line again, income versus expenses, and invoices, and I’m just downright confused, again.” […]
3 Things You Can Do Today to Greatly Reduce Theft in Your Business
Last week, we talked about the 3.5 Creative Accounting (Fraud) in Creative Agencies and got a ton of interest from our readers wanting to learn more about it. So, today I want to address 3 quick wins that you can do today to greatly reduce the risks of theft. 3 quick wins to prevent accounting fraud […]
3 1/2 Creative Accounting (Fraud) in Creative Agencies
As much as we don’t like to believe it, fraud and theft in business are not reserved for publicly traded big corporations. In fact, fraud often hits close to home, among small businesses and under the nose of the most hardworking entrepreneurs. The 3 ½ Accounting Fraud Scenarios Here are 3 ½ scenarios I’ve personally seen […]
Take Your Business to Next Level — Account Manager’s Revolving Door
What is a revolving door Smart entrepreneurs and business owners are great at thinking of bright ideas, but they don’t pay close enough attention to what I call the “revolving door” – you know – when you hire staff who leave the business for what they perceive as bigger and brighter opportunities. I saw it […]
Getting Paid Faster: Systemize Accounts Receivables
Last time we talked about Steve’s Dilemma: Invoice rich, but cash poor. One of the things Steve started doing was getting his accounts receivable systems in order. Not just bookkeeping, but the actual accounts receivable system that involves invoicing, monitoring receivables, receiving payments, and addressing balances. Getting paid is important. After all, they’ve already sold and […]
Steve’s Dilemma: Invoice Rich, but Cash Poor
Steve called me up the other day to ask, “Where’s all my money?” I did a double take, thinking he wanted me to pay HIM. “What do you mean?” I asked. Turns out, Steve is invoice rich, but cash poor. Meaning, he has plenty of business, invoices going out and payments coming in, but he […]
