Your cash flow cycle is the amount of time it takes you to get money back into your business after you have performed work. One of our goals as business owners should be to shorten our cash flow cycle so it’s as small and efficient as possible (remember you want your...
Download your FREE Profit and Loss Template and Guide here. The Profit and Loss Statement (aka the P&L) is one of the most important financial reports you’ll need to generate for your business. It’s important to note that accountants and other financial...
Accountants and bookkeepers are not the same thing! Read below. It’s very common for new business owners to confuse the difference between an accountant and a bookkeeper. In fact, many people use “accountant” and “bookkeeper” interchangeably, even though they actually...
Confused by this spreadsheet? Keep reading. It was only a matter of time before the IRS came forward with guidelines for the PPP and taxes. On Thursday of last week, the IRS issued Notice 2020-32, which presents new challenges for business owners as they move forward...
Review, Reexamine, Reconsider Deciding whether or not to open a separate bank account for your PPP funds is something I’ve been asked a lot about. Here is what I have learned in the past month navigating eleventy bajillion PPP applications and sitting in on...