Were You Impacted? Equifax Inc. (NYSE: EFX) announced recently that the cybersecurity firm Mandiant has completed the forensic portion of its investigation of the cybersecurity incident disclosed on September 7 to finalize the consumers potentially impacted. The completed review determined that approximately 2.5 million additional U.S. consumers were potentially impacted, for a total of 145.5 […]
Social Security Benefits were never set up to be the “sole” source of retirement benefits, but to be the foundation from which to build. On top of the foundation of social security benefits it was expected that most Americans would receive some type of pension benefits, have savings and investments, and possibly other forms of […]
Not Thinking BIG!! Too much emphasis is placed on the daily tasks of running the business. Small business owners perform several tasks that can take up an enormous amount of time in their daily schedule. There’s always a struggle to balance a schedule that includes sales and marketing activities; accounts receivable collections to meet payroll […]
Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance. To start, grab your 2016 income statement, or better yet, give us a call to help you compute and interpret your results. Revenue per Employee This number […]
If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: You have a balance in Accounts Receivable on your balance sheet that represents how much customers owe you You have an invoice process that you follow You have […]
If you’re struggling with your accounting system, it might be a sign that you’re ready for something new. Perhaps your company has grown so much that it’s outgrown its older accounting solution. Here are several indications to look for that justify moving to an accounting system with more features and scalability. User Permissions Some companies […]
Accounting automation has come a long way in the last few years, and the process of handling invoices and receipts is included in those changes. No longer is there a mountain of paperwork to deal with. In this article, we’ll explain some of the changes in this area. Vendor Invoices Most invoices are now sent […]
If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net credit sales * 365. DSO is measured in […]
The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of meaning to them. When you can understand how expenses play a part in profit, you […]
Two very important skills for entrepreneurs to master are marketing and finances. Combine them by understanding the numbers behind marketing, and you have an even more powerful understanding of exactly what makes your business tick. Key Numbers – Cost Per Client Acquisition Do you know how much it costs your business to bring in one […]