Saturday, July 19, 2014

How do you feel about math and numbers? Business owners should get comfortable with the numbers . . . .

Math and numbers:   If you're like a lot of business owners you either don't like them, don't understand them, or don't pay attention as closely as you should. You know you should have a handle on all of this but can't find the motivation to get any further.

Lots of business owners have some form of math anxiety. Couple that with an aversion to accounting and you've got a real problem on your hands.

But here's the raw truth: your business runs by numbers and if you don't know how to read them you are flying blind. It's time for you to step up and make the decision to get the training and knowledge you need to make that happen. You need to understand what the numbers mean and what the relationships between them. You don't need to love it, you just need to be competent. And you need to do it now!

You already know that numbers will tell you if you're making a profit or not. But numbers will also tell you whether you can afford to buy a new piece of equipment or hire someone. They'll tell you how your marketing campaign is contributing (or not) to your bottom line. How good your sales are. Whether your costs are increasing, etc.

You can't sit around and wait for your bookkeeper or your accountant to bring you up to speed on these things. It's your responsibility. You need to dive into your financial statements and bring these things to light yourself. So how do you do that?

First, decide that it's worth your time and attention and that it's a priority. Really, isn't it more than time for you to know this stuff? Consider all the decisions you're making now based on guesses and hunches, and then imagine making those same decisions based on hard facts. What might you do differently? I'll bet probably plenty.

Second, look around for educational opportunities. Community colleges have accounting, bookkeeping, and other types of financial courses. There are free online sources like educational websites. Hit your public library and check out one of their books on any of these subject areas. They have lots of titles; find one that's written so you can understand it. Google a term like "cash flow" and then go to a site that looks to have lots of definitions. Look up the concept on Wikipedia. Ask people you know who are good at this and see if you can't get a little tutoring.

Keep working on this a little at a time. You'll be amazed at how even a small increase in your understanding in this area will transform your thinking as a business owner. Your business will thank you.


http://www.statesmanjournal.com

Bookkeeper | QuickBooks Certified | Catch Up | Short Term | Long Term

We're a bookkeeping firm out of Voorhees, NJ - not your average bookkeeper service -- we serve all businesses and industries. Regarding your books, no business is too small - no mess is too big. We've been in business for over 27 years, our primary service being Bookkeeping.

We offer the following bookkeeping services: QuickBooks, Bookkeeping Clean up, Write Up Bookkeeping, Bank Reconciliations, Accounts Payable, Accounts Receivable, Budgeting, Cash Flow Management, Conversions from Manual to Automated Systems, Income Statement and Balance Sheet Preparation, General Ledger Preparation, 1099 Preparation, Payroll Services & much more.

With these services, you will receive valuable information to improve your cash flow and control your operations. It will be prepared accurately, based on proper accounting rules and procedures. Plus, you will understand what the numbers mean, and how you can use them to manage your business more profitably.

You will uncover a goldmine of profit-building information as you determine your financial standing, and when used properly, this information can help you better plan for the success of your business.

Call today for a free consultation. There is absolutely no obligation. It will be well worth your time!

As illustrated on our website, here are a few reasons why our clients choose us:

- We are cost effective.
- We proudly serve clients throughout the entire state of NJ and parts of DE and PA.
- We always work around your needs.
- We maintain your books on a schedule that works best for you - weekly, monthly, or quarterly.
- We can maintain your books on your computer or on ours. (we offer off-site service through a 'virtual' login so we can access your computer from our office)
- You do not need an office for our services. Get rid of that overhead and we will work from our offices.
- You can mail or drop off work for us. We can even pick it up for you.
- We pride ourselves on making your business hassle and worry free; we work in a timely and efficient manner.
- We are licensed, insured and bonded.
We offer FREE no-obligation consultations with every new potential client so you are assured of our services, results and costs before you commit. We have hourly, daily, monthly and by-the-job pricing to meet any budget for any client. We serve startups and multi-million dollar businesses alike. Call us for more information and to schedule a consultation: (856) 803-4651

Kathryn C. Tiffany, LLC Bookkeeping Services can be reached at (856) 803-4651 or visit us on the web www.TiffanyAccounting.com

Kathryn C. Tiffany, LLC (Licensed, Insured and Bonded)
Certified QuickBooks ProAdvisor
Located in Voorhees, New Jersey
Email:Kathryn@TiffanyAccounting.com
Intuit QuickBooks Profile: http://proadvisor.intuit.com/quickbooks-help/kathryn-tiffany
Web: http://www.TiffanyAccounting.com

Keywords: QuickBooks, Bookkeeping, bookkeeper, book keeping, book keeper, reconciliation, accounts payable, payroll, accounts receivable, tax prep, tax preparation, year end, accounting, cpa, accountant, W2, 1099, 1099's, accounting, financial services