QuickBooks 101: 8 Common Mistakes to Avoid
QuickBooks is a phenomenon in the software world. It was an immediate success and, nearly 40 years later, is still by far the most popular self-service accounting software. Intended to enable small and medium-sized businesses to do their own books, the software has been upgraded and improved many times and now offers a wide range […]
Financial Forecasting for Small Businesses: What Should You Include?
To rephrase a well-known bit of wisdom, “You can’t know where you’re going if you don’t know where you’re going.” Financial planning is essential to both running your business in the short term and growing your business over the long term. You probably already do some financial forecasting now, no matter what type of business […]
Should You Consider a Virtual CFO for Your Small Business?
If you’re running a small business, a chief financial officer (CFO) can provide expert-level guidance for managing normal operating accounting while also helping you plan long-term strategy for growing the company. The CFO is generally the third-highest ranking executive in a company and, as such, one of the highest paid. Many entrepreneurs simply don’t have […]
Should You Use Accounting Software or Outsource Your Accounting?
When you’re working hard to grow a small business, accounting functions like a map of where you are, where you’ve been, and most importantly, where you are capable of going. Every day, it is critical to have an accurate, error-free understanding of your company’s assets, liabilities/costs, income, and cash flow. And every year, it is […]
Financial Consulting Services
Have you ever started to create an investment portfolio or manage financial records for either your personal needs or business functions only to realize that you could use some advice to make your decisions? Or maybe you’ve found yourself facing a crossroads where you were unable to decide on which financial decisions would be best […]
Using KPIs For Your Restaurant Business
Being able to reasonably forecast upcoming problems has become an essential skill for Restaurant business owners — but too many are flying blind, or doing “bank balance accounting.” Can we help you fix this? Using KPIs For Your Restaurant Business “It is common sense to take a method and try it. If it fails, admit […]
Use These Financial Reports For Business Decisions By Financial Optics, Inc
How do you make financial decisions for your Restaurant business? Do you set aside time to review your actual financial reports, or are you committing “bank balance bookkeeping”? You know what I mean: checking your business bank account daily as a measurement of your business health. If that’s you, we should really talk. And before […]
Struggling Restaurant Businesses: Careful With Price Reductions
If you’re struggling in your Restaurant business, tempted to do some price reductions to drum up sales, and not getting the traction you need… I have a quick thought for you today. Struggling Restaurant Businesses: Careful With Price Reductions “Despite your best efforts, not everyone wants to be helped. Make a difference where you can […]
Developing Accountability In Your Restaurant Business
Before we get to talking about accountability in your Restaurant business… During the first Super Bowl that Tom Brady won (with the Patriots), these were some of the companies who advertised (hat tip to Jon Erlichman of Bloomberg): AOL Blockbuster Radio Shack Circuit City CompUSA Sears HotJobs Yahoo VoiceStream Wireless Gateway Computers The year was […]
Financial Optics, Inc’s Top 5 List of Potentially Fatal Business Mistakes
There is a difference between income and wealth. Tax returns aren’t about wealth — they’re about “income”, and how that is defined. Business owners and real estate investors have access to powerful tax advantages that wage earners do not … and wage-earners probably wouldn’t understand them. This is true for smart Restaurant business owners the […]