5 Steps to Spring Clean Your Accounting – Purge Your Chart of Accounts
Purge Your Chart of Accounts. Think of your chart of accounts as the backbone of your entire accounting infrastructure. If your millions of financial transactions are like printed photos, your chart of accounts is the photo albums that keep things organized. 90% of the chart of accounts I see are both too generic (resulted from […]
How To Do Financial Forecasting For Start-Ups
All startup owners and managers need to know their profitability. At the basic level, they want to run a successful business that can last for years. In addition, potential investors are more interested in helping you expand if you can prove that you can earn money for them. Business Owner Obligations Every business gains a […]
Financial Forecasting For Marketing And Advertising Agencies
When you run a marketing or advertising agency, you provide valuable services to clients. Marketing allows you to determine which specific products and services deliver value to consumers, while advertising focuses on refining the message in various media. Thus, you want to remain profitable so as to keep paying your executives and crafting immortal brand […]
Financial Forecasting for Agencies and Service-Based Businesses
Every business plan requires financial forecasting. You need to show that you have an awareness of the industry in which you are providing services, from advertising to entertainment to holistic medicine. That means knowing how to calculate the profits and losses that can keep you in the black. From a personally practical standpoint, financial forecasting […]
CFO Services For Startups
Startups are remarkable. One company can disrupt an entire market with just a single service released into the world. Consider that social media channels, for the most part, started with a small group of people. Or also consider how the keto diet is taking off thanks to spirited entrepreneurs. Budding business people are working to […]
CFO Advisory Services
You want to know how to manage finances while increasing profits and the liquidity of your cash flow. That way you know where you stand and how you can best grow. Sometimes working with a financial expert in-house does not cut it for turning a profit. You need to outsource and find an advisor that […]
Top Financial Forecasting Models for Small Business
When you start a small business, you want to plan to operate in the long-term. That means knowing how much profit you want to invest back into raw materials, employee salaries, and maintenance. You also want to know how viable your product will be in several years’ time. If you need to make a change […]
6 Reasons to Outsource Your Accounting Department
“Show me the money” is how the saying goes. Finance and accounting help with that part. You want to show the money, to investors and to your employees. At the same time, you don’t want to spend so much money that an accountant is running the business. This especially applies when you are an entrepreneur […]
Best Outsource-Accounting Services for Startups and Small Businesses
When you start a new business, you know you are creating a large time investment. Entrepreneurs have to prepare to forego regular work hours, free time, and possibly stable income while trying to make their business go afloat. It’s all worth it in the end when you work for your passion. Passions need money, however, […]
How to Build an Accounting System For Your Business
If you run a business, you need to know how to perform accounting. This goes beyond having financial statements and an accurate balance sheet, although knowing your paper trail helps. At DeepSky, we have a wonderful video about the basics of building an accounting system but want to provide additional information. Below, we have gone […]
