Some things are worth celebrating
Some things are worth celebrating This past month, one of our team members (Eloa Ortega) passed her CPA final exams. We celebrated her achievement at a recent team huddle. It’s no easy feat. When I wrote that exam (er, a version of that exam almost 30 years ago), I...
Is AI a magic bullet in accounting?
In a word? No! But there are some interesting things of note. I recently came back from the QuickBooks Connect 2024 conference in Las Vegas. I was really interested in the advancements in accounting AI technology since I was last there about four or five years...
How 1% can make you $500K
A strong/healthy company should be making at least 15% net profit margin. Simply put, take your revenue and multiply it by 0.15. If you are a $5,000,000 business, that means you should be making $5,000,000 * 0.15 - $750,000. Yep, your net profit should be $750k or...
It’s time to start making good decisions on good data
It's time to start making good decisions on good data. Running a services business—whether it’s plumbing, consulting, or HVAC—requires a ton of juggling! Accounting might not be (is almost certainly not) your favorite. But having good, clean accurate info is the key...
6 Quick Tips to Collect Faster from Your Clients in 2024
Increasing your profit in 2024 can be as simple as speeding up collections from your clients. The faster you collect, the more cash you have in the bank. Here are six tips to help you accelerate the collection process and boost your bottom line. 1. Tighten Your...
Increasing Profit in 2024 – Mastering Supplier Negotiations
One of the easiest ways to increase your profit in 2024 is negotiating with your suppliers. Here are some ideas to help you ace your supplier negotiations: Know Your Worth: Get a list of your vendors, rank ordered by how much you spend with them. Who is your biggest...