It’s the reason we’re all in business. Who doesn’t want more of it?
Here are some questions to keep in mind when thinking about your business and money:
- Do you feel you are as financially prepared for your companies success as you can be?
- Are your production and scheduling strategies dialed in?
- Do you know what your break-even amount is each month?
You would be surprised how many people don’t have a firm grasp on their company’s basic financials.
Helpful hint: There is no shame in hiring an outside accountant to help you with your accounting practices.
There’s no reason to struggle with any complex business accounting situations in this day and age. Get the guidance you need to run quarterly financial statements with a balance sheet and profit/loss reports. You can also get help calculating your accounts receivable and accounts payable days and their effect on working capital and cash flow.
If you are a shop that struggles to pay your vendors on time, despite being busy, you probably need to call in the big dogs to get some accounting relief.
Raise your hand and ask questions.
Get more helpful tips for running a successful shop on InkSoft's blog, here.