Important IRS Information about the California Wildfires
October 18 2017
It has been a difficult ten days for all of us in the North Bay area. Thank you to everyone that has reached out to check on us and our families. Your support is very appreciated. Many of you have asked how you can help. If you are moved to, here are a few places that are directly serving the community:
Monitoring A/R in Medical Accounting
September 28 2017
For medical offices, two of the most important key performance indicators that should be monitored are related to A/R. These numbers give you a true reading on the health of your business and the wrong numbers are a warning of potential problems with collection. Because these numbers will have an effect on cash flow, we recommend our clients look at them each month to spot problems early. Even if you think your cash flow level is sufficient, implementing these monthly checks is a recommended practice.
Opening a Second Location: 8 Questions to Ask Yourself
September 7 2017
Have you been considering a second location? If so, congratulations! Here are some questions you should consider before you open the next part of your empire.
Job Costing for Construction
August 17 2017
Have you ever won a bid for a construction project only to find after you’ve tallied all the bills and invoices, that the significant profit you had hoped to make wasn’t there? If so, you’ve encountered one of the biggest challenges in running a profitable construction company — job costing. Bidding on jobs without knowing the real costs is akin to driving a car while wearing a blindfold. It's what separates the successful construction companies from the hundreds that go under every year. Read on for our recommendations on job costing and how it can improve your business.
The Importance of Quarterly Planning
August 2 2017
As a business owner, you've set long-term goals (you have, haven't you?), but you may not have considered the importance of quarterly planning. Setting aside time every quarter is a way to keep you and your team on track to meet those long-range goals. It gives focus to the next three months and allows you the opportunity to adjust your planning as needed.
Quarterly planning should include a meeting with your CPA or accountant. They'll be able to explain your numbers to you in ways you can easily understand, so you can make the right choices for growing your business. Don't think they can only help you with taxes and maximizing deductions. Your CPA should also cover the following items with you:
Real Estate Accounting Challenges
July 19 2017
No matter what segment of the real estate industry you belong — owner of an agency, a property management team, or the owner of residential or commercial space that you lease — the accounting for this particular industry poses a different set of challenges from most businesses. We’ve found that the daily operations and accounting matters take too much energy and time away from the activities that grow the business. Read on for some of the biggest challenges in real estate accounting.