Have you ever wondered what advice your accountant else in your organization do not? What are some of the best accounts that can increase your profits? I collected some of the juiciest tips to save time and money, and the things are correct and current. You may be surprised to see that some of the best practices have nothing to do with entering data into QuickBooks, but the financial practices that are not about money "Pitfalls, and create more wealth in your business.
1. Evaluate the cost-price, at least once a year, not more than 2 years to go without a pay raise. It is a challenge for some companies. Especially when times get tough, you are not for everybody away with higher prices to scare, but it's not the end of the Year knows that things have changed and taken the action to be alone in the habit. They are in the review of prices at the same time every year and make a price adjustmentwhere appropriate.
2. Invoices on time. It seems simple, but many companies have more time to extend credit to customers on, and live by default or simply because the dispute was subsequently harvested. The credit card and "excellent idea, no matter what kind of business you have, because there are two ways to pay off your customers - to pay in cash or on credit, to accept. With all stay in your calendar to provide a better service, and keep the balance super nice too.
3.Stop the running for the bank. The use of RDF (Remote Data Acquisition) equipment to scan daily deposits. If you insist on going to the bank, at least once a week. Are you sure you did not lose control of (someone a check for $ 7500 in a file on the left and took 4 years later - good twist!).
4. Do not let the money stale. Transfer of idle cash balances from your checking account savings so that it earns interest and can help you save more because "out of sight, out of mind. It can alsowant to examine the accounts of scanning.
5. Play detective. "Employee fraud is easy to make in small businesses. Resist check if the supplies or theft exaggerate reimbursement: Scorecard; separate record in writing the rights of the invoice and bank deposits and reconciliation, control, or the temptation to make sure that employees know they are looking for.
6. Cross-trains in all of your accounts. Lack of training of the cross leaves a company from a singleor more specific persons, and that's not good. We must remember always taken "by a bus scenario." You never know when an employee must leave your job, get sick, the lottery, etc. Thus, cross-training is the security for your business.
7. Mark-up all costs to 20% is charged. Whether you run a construction company or a tutorial activities, many companies for supplies and materials for the job. If you buy things on behalf of theUsers can cover an additional 20% in the head and more value.
8. Send invoices via the Internet, no e-mail to snail. This will not only save costs, but very expensive late fees and maybe even a reward for early payment (2% for payment within the 10).
9. If you or your partner will run the books, take a class, I have seen cases where a small error by leading a report on sales of storage at more than $ 10,000Taxes, fees and penalties. Use your skills to companies prior to this important task.
10. Revision of budget and P & L, at least once a month. Drilldown to investigate the issues. There was a change in sales? He paid the cost within your budget? The identification of trends, problems, etc. to contribute to nip in the bud, and you run your business in the right direction.
11. Not reduce costs to spend - money without a return on that investment. This could be aNo headers, but the relationship between costs and investment companies can be very difficult for the mind. Yes, a new-fangled color copiers slice and dice that gives you the opportunity to create your marketing materials, but the lease costs U.S. $ 10,000 could buy a lot of design work and assistance in print. Everything carefully.
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