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20 Jul Business Owners' Guide to Understanding Income Statements

Posted at 08:30h in

Business Tips, Bookkeeping & Accounting

by KYB Blog  •  0 Comments

An income statement (also commonly known as a profit and loss [P&L] or earnings statement), answers a very important question: Is your company profitable? The accuracy of your P&L is critical to ensuring your business is running as efficiently as it could be and to identify opportunities for increasing revenue and/or decreasing costs.

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16 May Better Accounts Receivable in 3 Simple Steps


Business owners know steady cash flow is critical to long-term survival. When owners struggle to collect payments, they have less cash on hand to manage operations, pay employees, or take care of other incurred expenses.

While collection problems are common for small businesses, employing some simple strategies to strengthen accounts receivable policies, practices, and technologies can have a dramatic impact on decreasing missed or late payments.

Here are three strategies to help you get paid by your clients more quickly and easily:

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16 Nov Are My Employees Stealing From Me?

Posted at 06:00h in

Business Tips

by Becky Brown  •  0 Comments

“My employees? Stealing from me? It couldn’t happen here…”

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26 Oct What Restaurant Owners Should Know About Managing Cash Flow

We’ve worked with a lot of restaurant owners here at Keeping Your Balance, and we’ve learned that restaurants are really somewhat unique in the business world. For starters, there are these pesky statistics about the success / failure rate of restaurants. Although some absurdly inflated percentages are often bantered about, the real numbers are bad enough. According to a report by Cornell University, no less than 60% of restaurants fail within their first year of operation, and by five years, that number increases to 80%.

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03 Oct Understanding the Labor Law Basics

Posted at 09:00h in

Business Tips

by Becky Brown  •  0 Comments

 

As a business owner, it is likely that the growth of your business is one of your main goals. Growth can increase profit, allow you to expand into different areas, and give you the opportunity to bring on more team members. Growth is good, but it can impact the rules and regulations you must comply with as a business owner. These rules and regulations can change over time as your company grows and as you add on new types of employees. It is your responsibility asthe business owner to understand and comply with the labor laws that apply to your company.

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