B&P Accounting Solutions Podcast: Recent Episodes
About God's Business Y.M.Coard
www.bpaccountingsolutions.com/blogs We will cover business and financial accounting, tax, cash management, tax planning, pricing, and other topics for the small business owners.
Invoice tracking and bill management go hand in hand as you may have guessed because you need the income to cover your bills. If revenue is late and you do not have reserves built up, you may pay your bills late.
Build up reserves to make it easier to wait on receivables. Even those that earn $100 thousand plus a year in income must wait on receivables to pay bills. Monetary reserves will help to tide you over by tucking away the profit. Yes, profit. Consider only paying out profit at the end of the quarter, every six months or the end of the year. Read more: https://bpaccountingsolutions.com/our-blog/bookkeeping/timely-invoicing-and-bill-management-work-together
Do you have accounting and tax questions? Let's talk hop over to www. bpaccountingsolutions.com. Your first appointment is only $45.00.
I often run into business owners that want to spend without tracking expenses. When you hire an accountant, you should be ready for change. Yes, an accountant can continue with a system you have created but if we notice the system you have is non-compliant to state and federal regulations we need to step down if you are not willing to accept change. Listen...
Most business owners need some investment to get the business started in the beginning. You will need to reinvest back into the business and use other funding, but at some point, the company needs to grow and begin to support itself and the owners. Read more: https://bpaccountingsolutions.com/our-blog/bookkeeping/financially-supporting-your-business-without-debt-part-1
We covered cogs/coss options in the last blog (click here to read the blog). We will cover the price break down this week. Many people don’t understand what is involved in a business price most often. Although unfair pricing is sadly a common occurrence, it doesn’t mean all business owners are greedy.