Author Archives: bfcadmin

Do You Know Who Your Top Customers Are?

Recently, a client wanted to make some pretty significant business decisions around service offerings and pricing. He felt stuck in his analysis because he didn’t have a good sense of who his top customers were and what services they were typically purchasing. He wanted to answer two questions: 1) Who are my top customers, and […]

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The Best Payment Terms for Faster Cash Flow

A great way to speed up your cash flow is to get paid faster by customers who owe you money.  One way to do that is to examine your payment terms to see if you can accelerate them.  First let’s talk about what payment terms are common.  Then I’ll share a study that showed which […]

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Cool Tech Tools

I am a big fan of technology in accounting. I see how it can transform the way businesses manage their finances and change the way accountants work with their clients. There has been more change related to technology in the accounting industry in the last few years, than I have seen throughout my career.   […]

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The Short and the Long of It

The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics of a balance sheet is how it separates what you own and what you owe […]

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Are Your Workers Contractors or Employees?

If you have workers in your business, you likely made a decision when you hired them as to whether they should be an employee or a contractor. If all you hire are employees, then you have nothing to worry about. But if you hire contractors, there may be some financial risk you are taking that […]

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The One Question to Ask Each Day

As a business owner, you’re likely torn in a hundred different directions every day. It can take up most of the work day just fighting fires, serving your customers, and answering employee’s questions. It’s super-easy to lose sight of what you can be doing to move your business forward the most. That’s when “the one […]

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Do You Have a Revenue Plan for 2015?

A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. There are various fancy software apps you can use, but typically a simple Excel spreadsheet is all you need. Start by listing all of your products […]

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Planning for a Fabulous 2015

The holiday month of December brings celebration as well as reflection for all the events that occurred in 2014. It also gives us great hope for a new fabulous start in 2015. Here are three ideas to start 2015 with a bang. 1. Find a focus for the year. Instead of getting into the rut […]

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How Sales Tax May Impact Your Business

I recently wrote an article for the NJ CPA Magazine about sales tax and e-commerce.  State sales tax is a very complex topic since most companies are doing business across state lines or online at this time.  It is important that all businesses understand whether they are selling a product (physical or digital), service, or […]

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Rules & Tools for Keeping Business Records

Rules Good business record keeping includes retaining documentation to support your business expenses.   Per the IRS, documentary evidence includes receipts, cancelled checks, or bills. In general, you must have documentary evidence to support all business expenses in the event of an audit. The exceptions to this rule are for the following: Your expense, other than […]

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