If you don’t have systems in place, it’s easy for a stressed out bookkeeper or stressed employee to get tempted. They make stupid choices they never would when thinking rationally.
Like the liquidity ratios, it’s the trends that are important. The goal is to get your debt to equity ratio stable on a monthly basis.
Use the accounts receivable to accounts payable ratio to determine if you have enough money to pay your bills.
Learn to mark-up your mark-ups for lasting profits. Using variable mark-up charts to strategically boost your gross profit margin
The Small Business Administration’s guide to payroll, tax and benefit withholding, and reporting.
Your Acid Test - Do You Have Too Much Inventory? Track This Indicator to Get a Clearer Financial Picture
Check Your Liquidity Ratios
Safeguarding the Environment, Your Customers, and Your Bottom Line through Smart Refrigerant Recovery.
Tax credits on the chopping block that impact your business
In the first of a three-part series, Ruth King explains why setting goals is the first phase of business planning and why it's important to involved your employees.
Here are six actions you can take to increase your commercial maintenance agreement business.
This article explains what actions you should take when you think a family member may be embezzling from the business.
Owners are usually experts at operating their companies, but not about the details of bookkeeping. So a good bookkeeper can be a tremendous asset. Learn how to identify and hire …
5 ways to help businesses large and small successfully avoid credit card fraud.
Tracking maintenance-agreement enrollments and renewals is critical to growing a strong maintenance customer base. Tracking forces you to focus. Focus gives you the best chance for success.
Purchasing business software is unlike buying off-the-shelf software in a number of ways, but perhaps the most important difference is that you are purchasing a relationship
Accounting for commercial maintenance agreements is performed differently depending on the type of agreement sold and how that agreement is billed. I’ll cover full maintenance agreement accounting and planned maintenance …
When does construction-specific accounting and operations software start to make sense for HVACR contractors? It varies. Some businesses approaching $50 million in annual revenue are able to get by with …
A good maintenance agreement program will help even out cash flow, increase your company’s bottom line, and keep your field employees productive throughout the year.
John Augustine, Chief Investment Strategist for Fifth Third Private Bank, talks about the impact of the presidential elections, Europe’s rocky economy, and persistent domestic unemployment.
Once you understand your financials and start consistent monthly reviews, you must boldly implement changes based on what you see.
Last month I wrote about how to determine whether you can afford to hire a field employee. This month I’ll give you the calculations to determine whether you can afford …
Your company is growing. You feel the need to hire another field employee. Can you afford to hire this person? Find out by using this mathematical calculation.
Here are the stupid things that I know you, the smart contractor, won’t do now that the unusually hot, humid and demanding summer is over.
How to be creative and resourceful in finding financing during economic hardship.
Editor’s Note: This is the fourth and final in a series of how to use graphical depictions of financial ratio trends to help contractors spot potential problems early and make …
Editor’s Note: This is the third in a series of how to use graphical depictions of financial ratio trends to help contractors spot potential problems early and make proactive decisions …
If you are operating your business in corporate form, it is important to follow formalities. You should sign contracts in your capacity as an officer, and contracts should always be …
This is the second in a series of how to use graphical depictions of financial ratio trends to help contractors spot potential problems early and make proactive decisions about financial …
Every month you should receive accurate and timely financial statements. Looking at one month’s financial statements (balance sheet and P&L statement) does not tell much. To see where your business …
Without profits, cash runs out. Yet, your business could have an unprofitable month or quarter and still survive. Many contractors that operate with Dec. 31s as their year-end, state that …
