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Where Did the Money Go?

While understanding revenue, expenses, and profit is crucial for any business owner, cash flow is an equally important metric in truly understanding a business’s financial health. Cash flow, representing the movement of money both in to and out of a business bank account, can be positive or negative, and will fluctuate as the business shifts and expands. A positive cash flow is just as it sounds—more money is coming into the account than leaving it. A negative cash flow, in contrast, means the exact opposite—more money is leaving the account than coming in.

September 23, 2022

Financial Roles – Putting the Pieces Together

It’s fairly apparent to most business owners that we are no longer in an economy where we can fly by the seat of our pants. The days of coasting are over (but really, never should have begun in the first place). There is simply too much volatility in the economy today, forcing business owners to take a new approach. Yet, financial uncertainty and doubt plague many of them.

August 22, 2022

Five Ways CFOs Transform Businesses

We talked last month about the traditional functions of a Chief Financial Officer (CFO); namely, tracking revenue, profit, and cash flow, analyzing financial strengths and weaknesses, and proposing corrective actions. These functions allow the CEO to better understand how to increase revenue, decrease costs, and become more profitable overall.

July 20, 2022

Five Challenges Signaling the Need for an Outsourced CFO

June 20, 2022

Collaboration: What CFOs Need Most

Many people have a fairly good understanding of the traditional functions of a CFO. And those valuable functions remain the same whether we’re talking about the CFO of a Fortune 500 company or the CFO of a small business. Essentially, CFOs (1) track revenue, profit, and cash flow, (2) analyze financial strengths and weaknesses, and (3) propose corrective actions.

May 25, 2022

The Business Benefits of Financial Literacy

Despite its importance, many Americans lack the financial literacy required to properly handle personal finances. This disparity leaves them defenseless against the challenges that will inevitably arise over time. And there’s no doubt that these challenges can lead to long-lasting, damaging results.

April 20, 2022

New Tax Reporting Rule Impacts Venmo, CashApp, and PayPal Users

Changes to the tax laws are nothing new. In fact, you can generally count on them with as much regularity as the change of seasons. Often, these changes are obscure, affecting different groups for different reasons. This year, one of the primary changes will impact millions, as it reflects a nearly universal increased use of third-party payment networks for business and day-to-day transactions.

March 23, 2022

Fall Back in Love with Your Business

It’s February. We can’t help but envision long-stemmed red roses, heart-shaped boxes filled with delicious chocolates, and, above all else, love. But when we think of love, it doesn’t necessarily have to be limited to the people who are most important in our lives. How about remembering what we believe in? Or what inspires us? How about falling back in love with our business?

February 21, 2022

Your Best Year Yet

Somehow, it’s the end of January already. As you close the month and look ahead, are you finding yourself prepared and organized for the next eleven months or just getting by day by day? If you’re in the latter group, it’s time for a reminder about the importance of budgeting and forecasting to make sure 2022 is your best year yet. After all, without a roadmap, how will you know how to reach your destination?

January 24, 2022

Your 2021 Year-End Accounting Checklist

Unwrapping our Gift to You this Holiday Season It’s December. The holidays are upon us. Employees are requesting time off. Clients still need attention (and

December 28, 2021

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