908-358-4680 | info@beyondfinancialsconsulting.com

  • HOME
  • ABOUT
  • SERVICES
    • PART- TIME CFO
    • SOFTWARE SETUP, CLEANUP & TRAINING
    • BOOKKEEPING OVERSIGHT
    • UNDERSTAND YOUR NUMBERS
  • SOFTWARE
    • QUICKBOOKS ONLINE
    • QUICKBOOKS DESKTOP
    • XERO
  • INDUSTRIES
    • MARKETING & BRANDING AGENCIES
    • MEDIA & INFLUENCERS
    • CONSULTANTS, COACHES & OTHER PROFESSIONAL SERVICES
    • ONLINE BUSINESSES & ECOMMERCE
    • APP, SOFTWARE & WEBSITE DEVELOPERS
  • TESTIMONIALS
  • CONTACT US
  • BLOG
  • HOME
  • ABOUT
  • SERVICES
    • PART- TIME CFO
    • SOFTWARE SETUP, CLEANUP & TRAINING
    • BOOKKEEPING OVERSIGHT
    • UNDERSTAND YOUR NUMBERS
  • SOFTWARE
    • QUICKBOOKS ONLINE
    • QUICKBOOKS DESKTOP
    • XERO
  • INDUSTRIES
    • MARKETING & BRANDING AGENCIES
    • MEDIA & INFLUENCERS
    • CONSULTANTS, COACHES & OTHER PROFESSIONAL SERVICES
    • ONLINE BUSINESSES & ECOMMERCE
    • APP, SOFTWARE & WEBSITE DEVELOPERS
  • TESTIMONIALS
  • CONTACT US
  • BLOG

Mid-Year Review

July 3, 2019 In Business Tips
Tweet
Share
Share
Pin

Can you believe that half of 2019 is gone already? That means it’s a great time to take stock of how your business has done for the first half of 2019 so that you can meet your financial goals for the entire year. 

On Track for Sales

Are you on track to make your 2019 revenue number?  The first step is to check your 2019 budget numbers for total revenue. (Don’t have a budget? – Check with us; we’d be delighted to discuss that service with you.)

Next, get your Income Statement for June 2019 Year-to-Date and check the revenue figure. Are you on track with your budget, or are you halfway there revenue-wise, accounting for seasonality? If so, pat yourself on the back!  If not, what promotions will you put in place to boost your growth for the rest of 2019?

On Track for Profit

Looking at the same Income Statement, check your net income figure. Are you on track with what you planned?  If so, great!  If not, the reason is simple: it will be either lower sales than expected or higher expenses than expected. 

If your expenses are too high, you’ll need to drill down into each of your expense accounts, including cost of goods sold, to see which ones are higher than expected. Were there some unanticipated costs?  Does your pricing need adjusting? Do you need more volume to cover your costs?  This is where we can help you with an analysis of where your opportunities are to increase profit. 

On Track for Cash

One more place to look is your cash balance. It can be uncomfortable when you are running short of cash for your business. If your balance is lower than you’d like it to be, it could be because of some of the factors mentioned above.  It could also be because you just purchased an asset like a truck.  If you need help with improving your cash flow, that’s another thing we can help you with. 

Mid-Year Review

This mid-year review can help you head off any small problems before they grow into big ones throughout the rest of the year. And it can keep you on track so you can meet your 2019 business goals.

Tweet
Share
Share
Pin

Monthly Archives

Categories

  • Accounting (16)
  • Accounting Software (2)
  • Blog (1)
  • Bookkeeping (1)
  • Bookkeeping Tips (5)
  • Business Development (2)
  • Business Growth (8)
  • Business Tips (39)
  • Cool Tech Tools (9)
  • Cost-Saving Tips (1)
  • Customer Service Tips (5)
  • Decision-Making Tips (2)
  • Entrepreneur (1)
  • Expense Reduction Tips (3)
  • Finance Management (1)
  • Management Tips (3)
  • Marketing Tips (1)
  • MomBoss (1)
  • Money Management (1)
  • Payroll Tips (1)
  • Personal Development (5)
  • Profit First (1)
  • Profitability Tips (6)
  • Small Business (2)
  • Tax (2)
  • Time Management Tips (2)
  • Uncategorized (46)

 Beyond Financials Consulting Westfield, Summit, Millburn, NJ

At Beyond Financials Consulting, our small business services go beyond preparing financial statements and year-end tax calculations. We take a proactive approach to our clients’ financial needs by working closer to their business than traditional CPA firms. Our top priority is making sure our clients understand their financial results and can make informed decisions.

EXPLORE MORE

NAVIGATION

  • Home
  • About
  • Services
  • Software
  • Industries
  • Testimonials
  • Contact us
  • Blog

CONTACT INFO

P.O. Box 1020 Mountainside, NJ 07092

908-358-4680

info@beyondfinancialsconsulting.com

 

Facebook icon Twitter Icon LinkedIn Icon

Intuit, QuickBooks, and QuickBooks ProAdvisor are registered trademarks of Intuit Inc. Used with permission under the QuickBooks ProAdvisor Agreement.

Schedule a FREE consultation with Beyond Financials Consulting today!

All Rights Reserved © Beyond Financials Consulting 2020.