Why Having a Spending Plan Is Important

Why Having a Spending Plan Is Important

As an entrepreneur, you likely place a high value on freedom. When the word “budget” is mentioned, you might cringe and feel like it hampers your freedom. But it’s really the opposite. That’s one reason I like to call them spending plans instead of budgets. More...
Summertime!

Summertime!

Many fitness business owners we’ve spoken with recently have been experiencing slower revenue in the last couple months than their average revenue per month over a twelve-month period. It can be attributed to many things: nicer weather leads people outside for fitness...
Cool Tech Tools: Zoom

Cool Tech Tools: Zoom

More and more small businesses are finding virtual meetings useful. Virtual meetings have many advantages:No travel time is needed for participants, so you’ll save on gas and auto maintenance.They create an ability to visually connect with remote employees, customers,...
Three Key Reports for Your Business

Three Key Reports for Your Business

Each month, your accounting system yields actionable information for you to run your business better. Here are some key reports that all business owners should review every month.Balance SheetA quick review of the balance sheet can tell you the balances of your...
Understanding Cost of Goods Sold – Part 2

Understanding Cost of Goods Sold – Part 2

Recently we discussed accounting for Cost of Goods Sold.As with a lot of topics we discuss, there’s the accounting way transactions need to be done and then there’s the way we want to handle it for cash flow and Profit First.Cost of Goods Sold is no different.Cost of...

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