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Do you Have a Custom Designed
Small Business Accounting or
Bookkeeping System?
Silent Quiz:
Can You Answer These 10 Questions
About Your Business?
- Were my total sales up or down last
month? Were they designated by sales category?
- What was my total gross profit last
month? Was it designated by sales category?
- What is my gross profit per item?
- What were my expenses by category last
month?
- Who owes me money, and how much?
- Who's behind in paying me, and by how
much?
- How much inventory do I have, in total
and by item?
- Who do I owe money to, and how much?
- What was my profit last month?
- How Much do I Own, and How Much do I
Owe?
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- Were my total sales up or down last
month? Were they designated by sales category?
Here's why you need to know: If your sales are up, you'll need extra cash
to buy replacement inventory. If your sales are down, you'll want to pull
back on inventory purchases. Sales increases in a category can mean a new
growth opportunity. Sales decreases need to be investigated to find out
the reason.
Back to questions
- What was my total gross profit last
month? Was it designated by sales category?
Here's why you need to know: Gross profit shows the profit left from sales
after subtracting the cost of the products or services you sold. Changes
in gross profit show whether your pricing strategies are working. Cutting
prices to increase sales can hurt you if it reduces your gross profit.
Back to questions
- What is my gross profit per item?
Here's why you need to know: Selling prices should be based on profit
goals instead of estimates. By raising the prices on some items and
selling others near or below cost, you can change your inventory mix and
increase gross profits. An increase of just 1% may add thousands of
dollars to net profits. You can give sales incentives that will cause
employees to sell the most profitable items instead of the easiest ones.
Back to questions
- What were my expenses by category
last month?
Here's why you need to know: Are payroll costs too high? What about
insurance costs? The telephone? In order to cut back on expenses, first
know which ones are out of line. Recording your expenses each month
ensures that you get the maximum tax deductions.
Back to questions
- Who
owes me money, and how much?
Here's why you need to know: You can't expect to get paid in full unless
you tell customers exactly, and regularly, what they owe. An itemized,
neatly printed and up-to-date monthly statement tells customers that you
expect to be paid on time according to your payment terms.
Back to questions
- Who's behind in paying me, and by
how much?
Here's why you need to know: Customers who fall behind need to be
contacted immediately and often, so it doesn't become a habit. Also,
before you approve a new order from a customer, you'll want to know if
that customer paid you on time for the last order .
Back to questions
- How much inventory do I have, in
total and by item?
Here's why you need to know: If you're running low on an item, you can
reorder in advance and not be out of stock. Plus, you can avoid rush
delivery charges. If you have too much of an item or of inventory in
total, you can cut back on your inventory investment. Also, you can
compare a physical count to the books and identify a shortage problem
before it puts you out of business.
Back to questions
- Who do I owe money to, and how
much?
Here's why you need to know: Many vendors offer discounts for paying bills
in less than 30 days, which can add up to big savings on an annual basis.
Paying your bills on time will increase your chances of getting business
credit. Plus you can plan for your cash requirements and reduce the need
to borrow from a bank or your own funds.
Back to questions
- What was my profit last month?
Here's why you need to know: A monthly profit figure gives you the
financial bottom line and lets you know where you've been and where you're
going. Plus, you can save hundreds to thousands of dollars, on year-end
tax return fees, and plan for the tax bill months in advance.
Back to questions
- How
Much do I Own, and How Much do I Owe?
Here's why you need to know: Keeping track of your current assets and
liabilities allows you to plan for your cash needs, and helps you stay in
compliance with loan agreements. Plus, you'll be instantly ready to
respond to questions from suppliers or potential customers.
Back to questions
Which of the following best describes Your Accounting System?
I do it myself
I have an accountant
I don't have a
system
I do it myself
Your time is so much more valuable! You are the Worlds #1 expert in running
your business. While you are busy doing bookkeeping, your competitors are
designing new products and services, preparing new advertising, collecting
past-due accounts, shopping for less expensive suppliers... everything that
you need to do to survive and grow! Are you sure that your bookkeeping
system conforms to the proper accounting rules and procedures? Even more
important, do you get all of the valuable information described here from
your bookkeeping system?
I have an
accountant
Does your accountant or bookkeeper provide you with all of
the information described here, and its many benefits? Does your accountant
take the time to explain what the numbers mean, and how you can use them to
run your business more profitably? Do you feel you are getting the best
possible value for the fees you are paying? Also, if your accountant is one
of your employees, you may be able to save a substantial amount of money in
payroll, fringe benefits, equipment and software by having someone else do
the work.
I don't have a system
There isn't a better time than right now to get started!
Studies have shown that small businesses often fail because they don't have
a good accounting system. I can custom design an accounting system for over
50 different organizations, including yours. My system is so easy to use
you'll be delighted. If you can drop a piece of paper into a file folder,
you already know how to use it! You can obtain all of the valuable
information described in this brochure, and its many benefits. Plus, I will
take the time to explain what the numbers mean, and how you can use them to
run your business more profitably. Give me a call today!
This is why you need to call now...
I don't have to tell you that in today's day and age,
information is power. With my small business service, you'll receive
valuable information to improve your cash flow, control your operations, and
reduce your taxes. It will be prepared accurately, based on all the proper
accounting rules and procedures. Plus, I will take the time to explain what
each of the numbers means, and how you can use them to run your business
more profitably.
There's a gold mine of profit-building information in these
financial numbers, if you have them at your fingertips and you know how to
use them. Give me a call today for a free consultation. There is absolutely
no obligation of any kind and I'm confident that it will be well worth your
time!
Isn't it time your business reached its full potential?
Don't you owe it to yourself, and to your family ?
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