Support, tips, and more for accountants.
How to Create a Profit and Loss Statement with Reach Reporting
In this Reach Reporting tutorial, we will show you how to create a profit and loss statement for your business. Whether you use QuickBooks, Xero, Gusto, or import other data, Reach Reporting can help you generate professional and accurate financial statements. ...
How Reach Reporting is Revolutionizing Accounting Reports: A Case Study
How do small accounting firms network? How important is communication? How do you use reporting to improve communication?
Client Churn: Eight Reasons Why and How to Prevent It for Accounting Firms
As businesses enter a new year, many are looking to grow their clientele. However, before increasing marketing spending, firms should consider investing in strengthening their client relationships to reduce client losses and keep their most valuable assets. In fact,...
Overcoming Challenges: A Guide to Starting a Successful Accounting Firm
With more and more accountants striking out on their own, here are a few things you should consider as you begin your firm.
5 Simple Steps for Meaningful and Measurable Financial Reporting
Quality financial reporting is vital to help point your client in the right direction. By ensuring your reports are meaningful and measurable, you are showing your knowledge of your client’s company, its current situation, and its goals.
The Rise of the Accountant: Why They’re Critical for Business Success
People are leaving their jobs in droves in search of their own promised land. During this great exodus, the need for accountants rises, creating opportunities for accountants who see the signs.
Dispelling Fear: How Accountants Can Help Clients Overcome Common Financial Worries
As an accountant, you understand the fear that many business owners face when it comes to their finances. Confusion and uncertainty can lead to fear, which in turn can hold your clients back from future success. Your job as an accountant is to dispel that fear by...
Scaling Up Your Accounting Firm: Steps to Take and Pitfalls to Avoid for Future Success
Congratulations! Your accounting firm is growing! You are no longer a small mom-and-pop business with just a handful of accountants doing all the work. So, now what?? This transitional time is critical for firms and their future success. This article will dive into...
Unlocking Financial Growth: How Accountants Can Evolve into Trusted Advisors for their Clients
Your clients are wisely searching for the right financial professional that can help them unlock their financial growth. “Financial success does not fall in your lap,” says Justin Hatch, CEO of Reach Reporting. “You have to be intentional with your choices. How...
Summit Technology | Case Study
Exactly what I wanted. Dave Carlson, President and Chief Operating Officer of Summit Technology As President and COO of Summit Technology, I know this business inside and out and which KPIs are most important to our short and long-term goals. As a business owner, I...
Breaking the Stress Cycle in Accounting: How to Streamline Financial Reporting Processes
Today's business structures make financial and managerial reporting daunting, overwhelming, and just downright frustrating. With businesses implementing more systems that need reporting and each company seeming different from the other, accountants are exhausted...
Why Financial Reporting and Analysis is Crucial for Your Clients’ Success
Have you ever forgotten the "Why" of Financial Reporting and Analysis? As you sit at your desk and create this month's financial reports for your clients, you may ask yourself, "Why am I doing this? Is this helping my clients at all? "It is essential always to keep...
Adapting to Change: The Future of Accounting and the Importance of Effective Communication
Accounting is at a defining moment. With businesses looking for more than just end-of-month statements, IT has stepped up their AI efforts, while accountants are improving their deliverables and communications.
Who will succeed?
Mastering the Art of Communicating Financial Data to Non-Financial Clients
Not everyone thinks financial statements, spreadsheets, and numbers are exciting. I know, weird, right? Most of your clients are business owners with talents in other areas. They are not accountants; that's why they hired you!! Giving a non-accountant a spreadsheet...
GAAP Accounting Principles: A Comprehensive Guide to Financial Reporting Standards
Accounting Principles, commonly known as GAAP, are an essential aspect of financial accounting policies and practices. These principles provide guidance on how accounting transactions should be recorded and reported, ensuring transparency and consistency in financial...
Accountants vs Advisors: Which One Should You Choose?
“Ladies and gentlemen, welcome to the main event. In this corner, weighing in at 225 pounds and been an official profession since 1897, THE ACCOUNTANT. In this corner, we have THE ADVISOR; while newer in the industry, the advisor weighs in at 207 pounds and brings a...
How Reach Reporting Helped Technology Summit CPA Group Take On More Clients
As Director of Technology, I implement and create best practices for tech delivery to our clients. I was instrumental in getting the structure and templates set up within Reach Reporting to support our team with financial dashboards and reports they provide their clients.
Fathom Will No Longer Be Included in QuickBooks Online Advanced: What You Need to Know
Fathom HQ has been part of the QuickBooks Online Advanced reporting package since October 2018. With Fathoms’ Smart Reporting free offer ending soon, the question most users are having is why?
The Power of Financial Reporting: Boosting Client Confidence with Clear Communication
So let’s chat about how the proper Financial Reporting can give your clients the lightbulb moment and raise their confidence in their business finances.
How Reach Reporting Helps Cloudaccountant.com Increase Efficiency and Grow Client Base
Duncan Lloyd, the Executive Director of Cloudaccountant.com, a traditional firm of Profit First accountants, recently sat down with Reach Reporting to discuss how financial reporting helps his clients achieve their financial goals. Lloyd shared that the objective of...
Beyond Numbers: Essential Traits of a Successful Accountant
What makes a person genuinely good at what they do? What are those essential traits they possess to help them raise the bar in their profession? We all possess different characteristics and talents that make us unique.
The Importance of Effective Communication in Accounting
Effective communication between an accountant and their client is the key to a successful partnership. Without it, all the numbers and data are useless.
Balancing Work and Life: Lessons from Accounting
There have been far too many times in my own life when I would go into work at 4:00 am to go home at 10:00 pm and go into my home office to work some more, only to do it all again in 3 more hours. I was not checking to make sure my business and life books were balanced, and I began resenting every day and becoming a person people avoided.
Understanding Net Profit Margin: How to Calculate and Why It Matters
Net profit margin (NPM)is defined as the percentage of revenue left over once all expenses (this includes but is not limited to operating expenses, interest, taxes, and specific stock dividends) are deducted from a company’s total revenue.
Understanding the Cash Conversion Cycle (CCC) in Business: Definition and Importance
The cash conversion cycle (CCC), also sometimes referred to as Cash Cycle or as the Net Operating Cycle, measures the time it takes for a businesses’ investments to become sales and then into revenue.
Accounting Salaries: How Much Do Accountants Make?
The faux pas of discussing money and salaries is out the door for this article. Whether we like it or not, money, and in turn salaries, are a BIG deciding factor in what career we study for, where we live, what jobs we accept, and how we live each day.
Understanding Average Revenue Per Customer (ARPC) and Its Importance
Just as the name suggests, ARPC is the average revenue generated from each customer per month. A company may also choose to calculate per quarter or year.
Financial Reporting 101: Understanding its Importance and How to Enhance Your Reports
Financial reporting is SO much more than raw data in a spreadsheet. It is the story of your client’s business. A well-constructed financial report gives your client all the relevant information they need to make prudent financial decisions in a digestible, easy-to-understand form.
Enhancing Your Accounting Degree: Six Degrees to Consider
Before you get into accounting, or even if you are already years into your career, you may want to consider adding any of these six degrees to your accounting degree to give you the edge.
Do Accountants Enjoy Their Job? What Makes a Job Satisfying?
There can be a lot of soul-sucking repetition in accounting. However, there can also be intrigue and passion, and you don’t have to be a mafia accountant to experience it.
Why Every Company Needs Financial Accounting
Every company, big or small, in any industry, can benefit from financial accounting. However, the best way to handle financial accounting varies depending on the company's size, growth, and structure. In this article, we'll explore the different options for financial...
Why Understanding Cash is Vital for Business Success
As a financial advisor, part of your job is teaching your clients. You are more than a report generator, number-puncher-inner, and tax preparer. Educating clients not only helps them but helps you as well. They become more versed in how the finances of a business run, which in turn can make their chances of success skyrocket. And you get a grateful client for life.
Providing the Correct Data is Just the First Step: Helping Your Clients Turn Data into Wisdom
You can help your clients ask the right questions about the data you provide by presenting it as information. Data turns into information with context. By doing this, you will increase your value while improving your client’s decision-making for their business. When your clients don’t understand their data, they may miss opportunities to propel their business forward.
Enhancing Financial Communication: Simplify Your Message for Success
Now more than ever, clients are expecting clear communication from financial professionals. When a firm is lacking in its communication skills, that firm is missing out on revenue. The better a firm understands the value of good communication, the more likely it will implement and improve communication practices and policies.
From Bookkeeping to Data Wisdom: The Evolution of the Accountant’s Role
Are you familiar with the DIKW pyramid? No, it is not one of the Great Pyramids of Giza. No, you did not learn it in elementary school, akin to the food pyramid. It’s ok. Most people are unfamiliar with this pyramid.
Simplifying Financial Reports: Helping Clients Understand Their Data
One of the most confusing aspects of a financial report is when accountants provide data without context. A 5% increase in revenue from last month sounds impressive but is it? Is the growth taking in the 10% increase in the cost of goods or the additional employees? Though there was a 5% increase in revenue, is your client realizing they dropped 8% in net profit?
Podcast | Financial Statements with Justin
Today we’re going to talk about dashboards and financial statements. So this is a chance that some of our CPAs made over the last year. I would venture to guess this is probably one of the most impactful changes we’ve made.
Navigating the Financial Seas: Helping Clients Read the Winds
Most accountants feel a solid GAAP financial statement is what their clients need but they need more to take advantage of the fair or foul winds of their financials.
Bridging the Gap: Helping Clients Understand their Finances
If you don’t kiss your clients every time you meet you should. Here are a few tips on how to kiss your clients to help them understand how you feel.
Structuring Your Chart of Accounts: A Guide to Enhancing Financial Reporting
Think of your chart of accounts like a filing cabinet. Each drawer represents an account. Each file is an accounting transaction. The better organized and structured your filing cabinet is, the more granular your reports can be.
Managing Work-Related Stress: Understanding the Difference Between Working Hard and Overworking
The causes of stress can be different for each of us and different based on industry. Some pressures come from within ourselves, and some come from outside sources.
The Importance of Financial Reporting and Analysis for Business Success
Accurate and proactive reporting makes a huge difference in analytics and financial performance. By increasing the perceived value of financial reporting, most companies help their decision-makers understand the importance of these powerful tools to help them grow, innovate and compete effectively.
Enhance Your Client’s Decision-Making with Reach Reporting’s Visual Data
Learn tips on providing visualized financial data with insight that business owners are demanding so they to be more agile, more innovative, and more profitable than their industry peers.
If You’re Not Telling Your Clients Their Story, Someone Else Will: A Guide to Data Storytelling with Reach Reporting
As the CEO of Reach Reporting, Justin Hatch has met countless business owners struggling to understand their financial data. However, the pain point of data comprehension has created an opportunity for savvy financial professionals to differentiate their services and...
Break Past the Barriers: Why Technology Adoption is Critical for Accounting Firms
As technology continues to evolve, accounting firms must adapt to stay competitive. However, many small to medium-sized accounting firms are hesitant to adopt new technologies. According to Sage, 13% of firms lack time, 38% lack money, and 25% lack expertise. But, the...
Transforming Financial Insights into Compelling Stories with Reach Reporting
Discovering and finding the most crucial data insights for your clients is only the first part of your job as their accountant and financial advisor. Transforming those insights into understandable financial stories is the second, and I believe, the most critical part.
Embracing a Hybrid Work Schedule: Lessons from the Pandemic
The pandemic has not only brought about health and economic concerns, but it has also significantly impacted the way we work. As we slowly emerge from the unprecedented time, we have learned that allowing employees to work remotely, at least part-time, may lead to...
The Power of Financial Storytelling: How Reach Reporting Transforms Data into Actionable Knowledge
Simply creating and then giving clients a financial report is NOT ENOUGH. The message needs to tell the story of their financial situation.
The Art of Chart Creation: How to Select Colors to Make Data Visualization More Effective
Here at Reach Reporting, we're all about creating charts and graphs that bring financial data to life. After all, a well-crafted chart can make complex spreadsheets much easier to understand and consume. But, in order to make charts effective, proper layout and color...
ProvenCFO: Standardizing Custom Reporting with Reach Reporting
Reach Reporting is the only solution that we’ve found in our price range that allows us to standardize our custom solutions. That’s been critical in our growth.
Becoming a Proactive Financial Advisor: Why Your Clients Want More Than Raw Data
It is becoming less and less acceptable to be a reactive accountant who prepares taxes once a year, producing tedious and confusing financial reports. Your current and future clients want a forward-thinking approach to their financials.
The Importance of Understanding Cash Flow Reports for Business Owners
Every business owner, CFO, CEO, or Company President knows the importance of cash flow when running a business. Regardless of the size of the company or the industry they work in, cash is king.
The Importance of Knowing Your Business’s Break-Even Point
No matter if your business provides a service or produces and sells a product, you have a break-even point (BEP). Knowing your break-even point will be critical in your success and your ability to make your company’s best financial decision.
Simplify Your Financial Reports with Reach Reporting: Become Your Client’s Most Trusted Advisor
We define accounting as “The Language of Business” because the accountant plays an essential role in interpreting that language to their client. Therefore, the small business owner values an accountant who can help them understand the financial details of their business.
Beyond Financial Expertise: Soft Skills to Help You Succeed as a Financial Advisor
As you are preparing to offer more financial advisory services at your firm, there are opportunities to up your chances of success. Of course, being a total pro with your accounting skills is at the top of your list of assets!
Keep Calm and Use Reach Reporting: The Solution to Financial Reporting Stress
With the pandemic, financial, political, and social unrest, financial professionals are experiencing an unprecedented level of stress at work. According to a recent survey by staffing firm Accuntemps, 52 percent of financial professionals are stressed at work, and 60...
Social Media for Accounting Firms: A Beginner’s Guide
Social media has become an essential tool for businesses, and accounting firms are no exception. With an estimated 3.96 billion people on social media in 2021, there is a massive audience waiting to hear from you. The opportunities social media presents for accounting...
Reach Reporting: Helping Accountants Deliver Critical Financial Clarity to Small Business Owners
Small business owners are the backbone of the American economy, with over 30 million businesses driving growth and innovation. However, many of these businesses struggle to understand their financials, which can lead to cash flow management problems and ultimately...
Quotes to Inspire and Motivate Accounting and Financial Professionals
As an accounting and financial professional, you work tirelessly to keep your clients' finances in order. However, there are days when the "BLAHS" set in, and you need some inspiration to keep putting one foot in front of the other. Here are some inspiring quotes to...
How to Create Happy CPA Clients: 7 Key Areas to Focus on
Happy clients are the lifeblood of any business, and this is especially true for those in the accounting industry. But how can you create happy CPA clients? How do you keep them coming back and referring you to their friends and colleagues? The key is to focus on...
Don’t Fall Behind: The Benefits of Technology for Accounting Firms
In today's fast-paced business world, companies that do not adapt to new technology may fall behind. Accounting firms are no exception to this rule. However, many small and medium-sized accounting firms are hesitant to adopt new technology, as per Sage's Practice of...
The Power of Value-Based Pricing for Accountants: How Reach Reporting Can Help
Are you tired of hourly billing and the constant pressure to track your time? Have you considered switching to a value-based pricing model that focuses on delivering the best possible results for your clients? If so, you're not alone. Many accounting firms are moving...
Don’t be Afraid to Say “I Don’t Understand”: The Importance of Financial Literacy in Busines
When it comes to your business and having the necessary tools to reach your goals and grow the company, an accountant can be your best friend. Take advantage of their expertise and listen when they explain what changes can help improve your business. It all begins with the words, “I don’t understand.”
Should Accountants Become Financial Advisors?
A change in market mind-sets and a shift in industry demographics are causing accountants to expand their offering to advisory services’ with value-based pricing. You have to ask yourself if you try to change the direction of the market, or do you go with it?
Don’t Overlook Your Cost of Goods Sold: A Guide to Understanding and Calculating COGS
Financial statements are full of valuable financial information. They often have SO much helpful information; some of it gets lost in the shuffle and missed. Make a concerted effort not to overlook your “Cost of Goods Sold” data.
The Ultimate Accounting Playlist: Music to Get You Through Tax Season
Here are eight songs that you should add to your accounting playlist. Let us know what you think.
Value-Based Pricing for Accountants: A Path to Success
In 2021 Accountants are returning to value-based billing to increase their revenue stream by offering year-round services to their clients.
5 Tips for Creating an Engaging Financial Report
As a small business owner, you know how vital it is to keep your books updated. Unfortunately, up to date books do not automatically translate into understanding your financials.
The Financial Reports Every CPA Should Provide to Clients
As a CPA, you want to take care of your clients, give them everything they need to make prudent financial decisions. Here are 5 Reports you should be giving your clients.
The Entrepreneurial Journey of Justin Hatch and the Premiere Reporting Solution for CPAs
You’re out there, and you’re doing your thing. You are excited to tune in and get some more motivation, more inspiration, and more clarity to achieve extraordinary results in your business. The person who’s going to do that today is our guest, Justin Hatch.
Visual Financial Reports – The Game Changer Your Business Needs
Create visual financial reports and your clients will begin seeing the whole financial picture of their business. Your report will help them make better decisions but also make your contributions invaluable to them.
Why “Seeing is Believing” in Financial Planning and Analysis: Lessons for Visual Financial Reports
Change the game by taking advantage of how the human brain naturally collects information. The connection between the human brain and the eyes is truly amazing. Let’s take a peek at a few studies to teach us how “seeing is believing” works.
The Positive Trend for CPA Firms: Strategic Financial Advisory Services
One of the emerging, positive trends we have seen this year is CPA firms moving more towards offering strategic advisory services. This trend changes from the more traditional accounting and compliance services we have seen in the past.
The Best Way To Up Your CFO Game With Data Visualization Tools
The best CFOs don’t just hand their clients a pile of financial statements and call it a day. Operating as a CPA or a CFO means taking the hard data and helping clients go beyond the what and into the why and how.
A Conversation With Justin Hatch
Mr. Hatch is an industry expert in the field of business management specializing in software development and financial reporting. Justin has had nearly 20 years of management experience, and now is serving as CEO of Reach Reporting where his mantra is to absorb complexity wherever possible.
Transform Your Financial Reporting for Clients with Brilliant Visual Graphics
As an accountant, you know the importance of financial reporting and its impact on your clients' businesses. However, sometimes clients find it difficult to understand the data presented in financial reports, making it challenging for them to make informed decisions....
How Financial Report Templates Can Save You Time as an Accountant
As an accountant, you know how time-consuming it can be to create financial reports for your clients. But what if you could save time without sacrificing the quality of your reports? That's where Reach Reporting's financial report templates come in. With pre-built...
The Big 5 of Financial Reports: What Accountants Need to Know
There are five financial reports that are vital to your clients. They contain the core financial information they need to make the most prudent financial decisions.
Transform Your Financial Reports with Reach Reporting
Let us show you how you are going to WOW your clients next month with a beautiful, informative, and understandable company financial report.
Transforming Raw Data into Useful Knowledge for Business Owners
Business owners often don’t prioritize their time to include a deep dive into their financials. They spend their time doing what they do best, running their business!
The New Business Expectations
In any relationship, whether it be marriage, parent/child, student, or an employee, when we are aware of what the expectations are, we can measure ourselves and do a better job fulfilling those expectations. With this in mind, as a bookkeeper, what do your clients...
Become an Advisor with Visual Financial Reporting
The key to unlocking the entire chocolate factory of financial data to your clients. Become their golden ticket.
The Psychology of Visual Reporting
CPAs and Visual Psychology. You are left-brained, most of your clients are not. I bet you are wondering why, as a CPA, you need to know anything about psychology and how the brain works and behaves. You may be thinking, "I work in financial data and numbers for a...
How to Build Visual Financial Reports
Visual financial reports are a critical part of the if you are moving toward a more advisory role. Here is a quick way to create beautiful reports.
New Reach Reporting Features | September 2020
Today we would like to share with you some new quality of life updates we have added this week to improve Reach Reporting. You will now notice that we have added some new shapes to match the icons available when using conditional formatting. These can be found within...
What Clients Expect from a CPA
Whether you are new to the accounting profession or a seasoned CPA with years of experience under your belt, knowing what your clients expect from you is vital. Specific needs may change over time, but there are a few essential requirements that will never change....
Story Telling in Financial Reports
When was the last time you found yourself nodding off while listening to an accountant speak about Tax Compliance or Understanding The Complexities Of Form 5472 And Its Transfer Pricing Implications? Seriously, if we are honest with ourselves, accounting can be...
Helping Clients in Changing Times
The Greek philosopher Heraclitus said, "change is the only constant in life." It doesn't matter why, when changing times occur, your clients will need your help and your advice. It could be another global pandemic (let's hope not!), a downturn in the economy, a major...
How to use Visual Tools in Financial Reporting
Humans are Visual Learners. Frederick R. Barnard first introduced us to the idea that “A picture is worth a thousand words” in December of 1921. He was writing a publication about the effectiveness of graphics in advertising and the phrase has only become more and...
Getting Started on Your PPP Loan Forgiveness
It is coming up on time to start working on your PPP loan forgiveness paperwork. Loans were eligible for forgiveness beginning June 30, 2020. If you haven’t already been contacted by your bank to start working on the paperwork, you most likely will hear from them...
6 Tips when Returning to Work Post COVID
As regions in the US begin to open up again and enter into this uncharted territory of post-pandemic life, there are many questions and even fewer answers about returning to work. As a business owner, there are obvious concerns about keeping your employees safe and...
UPDATE: PPPFA Loan Changes
The ups and downs and sideways changes with the Payment Protection Progam continue! On June 5th, President Trump signed into law the PPPFA (Payment Protection Program Flexibility Act). Back in April, we posted this article on How to use your PPP loan. Since then, a...
New Ways To Sync with Reach Reporting
Reach Reporting has expanded its customer base!! Since our creation, we have synced only with QuickBooks Online and QuickBooks Desktop. Syncing with Quickbooks has worked well, and we are proud of what we created! Like all things, though, if you're not moving forward,...
Four Crucial Business Metrics To Know
Regardless of what kind of business you are running, understanding business metrics and financial numbers are crucial to running a successful company. You may be lucky enough to have loyal customers, referrals you don't have time for, and an in-demand product. If you...
5 Tips to Simplify Financial Reporting Software
Financial reporting software is basic to the long-term success of an organization, uniquely small-to-medium sized businesses. It is the indispensable method of documentation that, in a nutshell, monitors the money coming in and the expenses going out. Mary Ellen...
How to use your Payment Protection Program Loan
Due to the unprecedented time we are living in, the US Government recently authorized the Paycheck Protection Program or PPP. The first round of forgivable loans has closed, and approximately $349 billion was distributed to small businesses across the country. A...
4 Ways to Stay Productive at Home
Most of us are spending much more time at home these days—much more time. You are most likely reading this from home at the kitchen table or living room couch. Some of you probably have a dog or cat staring at you, wondering why you are not at work. These are most...
Managing Business in Time of Crisis
If you are a small business owner, I am sure you are intensely stressed and are looking at things day to day, if not hour by hour. Did you have a plan in place for crises like the one we are in now? If so, how is it going? Let's talk about a few steps and some words...
Identifying & Combating Work Burn-Out
Ever pulled into your work parking lot and just sat in your car? Cried a little when your alarm goes off because you know what your day brings. Whether it’s a difficult client or a micro-managing boss, either way, trudging into work feels like climbing Mount Everest....
The Power of a Balance Sheet
Keeping a company running in the black is not an easy task. Sometimes it feels like balancing multiple spinning plates while juggling a couple of chainsaws. There is A LOT to keep track of, and the consequences of dropping a plate is hard, but a chainsaw well that is disastrous.
How to Network and Get Results.
Whether you like it or not, networking is vital to being in the business world. It can be the most effective and least expensive way to promote yourself and grow your business. This is especially true if you mostly conduct business in your local area. Networking is...
Finding and Retaining High-Value Clients
Your Most High-Value Client may be a Surprise We know and it's pretty common knowledge that acquiring a new customer is exponentially more expensive than retaining a current customer. Forbes has even done a study about the cost specifics. Keep this in mind as you work...
Two Key Changes to 2020 Tax Laws
Tax laws are ever-changing. This is not new, and keeping up with the changes is enough to make your head spin. This year the changes bring good news to those who want to spend less and save more money in 2020. The IRS has made revisions in two places, making it...
4 Financial KPI’s to Never Ignore
It’s the new year, and you have set some new or revised goals for your business. Excellent! Now what? How do I know if I am headed in the right direction? What information will help me course correct or tell me I am on the right path? Key Performance Indicators, or...
7 Tax Season Tips to Survive and Thrive in 2020.
The holidays are winding down, the decorations are getting put away, and you are recovering from your food/sugar coma. January is here, and any CPA (or the loved one of a CPA) you know this means you are headed into tax season (insert doom music here). There is no...
Creating a Small Business Budget
Budget, it’s not a four-letter word, but to some people, it may as well be. You work hard and spend hours gathering the expected and unexpected costs of running a business, then add in potential income, and finally create a budget. Then only to struggle (and most...
3 Red Flags to get the IRS’s Attention
How to get an Audit for your Small Business The dreaded A- Word!!!! AUDIT!!! While audits for small businesses are less frequent than audits for individuals and large corporations, they are most certainly on the rise. Audits can be scary, time-consuming, and...
How to bring clients into the 21st Century
Everyone has at least one of these clients. Utterly uninterested in new technology or pretty much anything from the 21st century. They love their shoebox of receipts, their paper ledgers, and manual calculators and want to stick to using them. Their love of the "old...
Does Your Financial Reporting Boost Revenue?
Today’s financial reporting goes far beyond what it did in the past. Forget those QuickBooks reports of yesteryear. Technology has changed how and when we receive business information. In turn, along with how it affects the decisions we make to boost revenue. Here in...
How saying “no” can make you more successful.
“Really Successful People Say No To Almost Everything” -Warren Buffett Why is saying “no” so difficult? Whether in the business world or our personal lives, we want to help people, we want to please our friends and family. We have a fear of letting someone down or...
3 Purposes of Writing Annual Reports
Can you believe it is October? At my house, the leaves are changing, and the temperature is dropping. These things tell me it is time for sweaters, football games, pumpkin spice everything, and if you are in the accounting industry, annual reports. Most companies...
Time is Money – 3 ways be more efficient.
Time is money. Wasted time means wasted money means trouble. -Shirley Temple The original quote of "Time is Money" came from Benjamin Franklin back in 1748. He wrote it in a manual for young men entering the business world — sound business advice 271 years ago and...
Create a Financial Story with Your Reports.
Create Reports that are Understood and Appreciated This article could also be titled "Accomplish the seemingly impossible." Seriously though, as an advisor, you honestly want your clients too truly understand where they stand financially. That's why you do what you do...
Make your Annual Report SHINE!
It's coming up on that time of year again. Believe it or not, we are in the last quarter of the year, which is your cue to start gathering the information to build annual reports for your business or your clients business'. I heard that groan, don't stress! Reach...
Do I need to use Cloud Accounting?
Unless you have been living under a rock, chances are you have heard the term "Cloud technology." It is becoming the new norm in many industries, including the accounting industry. Intuit predicts that 78% of small businesses will use cloud technology by 2020. Not...
Do’s and Don’ts of Financial Reporting.
Financial reporting is a tough play. We get it. You, as the financial advisor, are required to provide reports that are insightful, beautiful, and that deliver a clear message. That's a tall order. If that weren't enough, your client is judging YOU on this. They have...
Four Accounting Mistakes Hurting your Business
Did that title make you cringe a little? I promise you are not alone; we all are guilty of having at least one lazy accounting habit. It doesn't matter how long you have been in business; we could all use a small reminder (or large reminder!) of some best practices....
Work Smarter not Harder
Two ways to spend less time at the office and have happier clients We have all heard the quote "No one ever said on their deathbed they wish they had spent more time at the office." We love our jobs and find great satisfaction in what we do and how we help people....
The Why and How of Setting Financial Goals
Stop setting goals. Goals are pure fantasy unless you have a specific plan to achieve them. -Stephen Covey It is January 1st, and you are up early with your new running shoes, your headphones on with some heart-pumping music, and you are killing it on that treadmill....
Reporting Software and the Small Business Owner
Success isn't always about greatness. It's about consistency. Consistent hard work leads to success. Greatness will come. -Dwayne Johnson You have done it! Gone out on a limb and started your own small business. You have taken something you love and are good at and...
5 Reasons to Change Financial Reporting Systems
Ever had one of those moments when you are staring at your screen debating between laughing, crying, or throwing your computer out the window? All because the software that is supposed to make your job easier is only complicating it more? Your financial reporting...
Financial Reports You Should Be Running
Running a business is a non-stop job. Keeping yourself up to date on the financial in’s and out’s of your company alone could keep you plenty busy. There are a handful of financial reports that need to be reviewed on a regular basis, monthly or at least quarterly....
What is Burn Rate & How to Calculate
Another way to explain this concept is to estimate how fast your company is consuming (or burning) its financing to support operations above cash flow. It’s a measure of negative cash flow.