Before you can improve the profitability of your business, you have to have a complete understanding of how you are doing now. When a bank wants to know the financial health of your company, they want to know things like gross profit, margin, assetts and liabilities, and cash flow. These are all metrics measured by good accounting.
A report that reports these key indicators can't help you unless you know not only what they tell about your business, but how to use them to make informed business decisions.
Most small businesses today are started by someone that can do something exceptionally well. Maybe they lay carpet well or are vey adept at how to sell cars. Before long, a new business is started, and hopefully cash begins coming in.
How Do I Keep More of the Money I Make?
There are three major areas that all businesses must excel at to earn the most money and keep it. A lack in any of these areas will cause a business to at least falter. In time, this lack will likely result in the failure of the company. They are:
Production
Marketing
Accounting
Production
Production is where most small businesses excel. We know our product or how to perform a service well. We hone our skill and perfect our products and hope that we can take that skill to maket and make a profit.
Marketing
Marketing is the process of getting a customer to your door. It includes all aspects of finding new customers and getting the word out about your product or service. It doesn't take most businesses long to realize that they need to find customers to survive.
Accounting
Accounting provides the scorecard for how we are doing. It is the benchmark for the financial health of any organization. Without it, production doesn't know what to produce. Marketing doesn't know what is profitable to sell.
At a football game, when you want to know how well your team is doing, you look at the scoreboard and you know right now if your team is winning or losing the game. Where is your business scoreboard? Do you measure your success by the amount of cash in the bank? If so, you are not seeing the big picture.
Without knowing about the flow of money into and out of your company, where it goes, and at what rate, you really don't know if your business is winning or losing the game. For example, if you have a lot of cash in the bank, but you have many outstanding bills coming up, you may be headed for problems. On the other extreme, if you have little cash balance in your bank account, but have large receivables coming in soon, you have underestimated the profitability of your company.
Cash flow is just the beginning to what good accounting will tell about your business. You need to know if you are writing off equipment at the best rate you are allowed to avoid paying too much in taxes. The government doesn't give you interest-free loans, but when you don't take advantage of how quickly you might depreciate your assetts, you are doing just that for them.
Accounting is, of the three basic roles of every company, the most often ignored. It is almost as if we convince ourselves that if our product is sufficiently good, everyone will buy it. We may delude ourselves into thinking if we sharpen our maketing skills, that will solve our problems. But without accounting, a business has NO WAY to measure the success of marketing campaigns or how well received a product is. Without it, your business is flying blind!
What Role Does QuickBooks Play?
Easily Keep Track of Business Transactions
When you first started your business, you may have been one of those whose accounting system consisted of a shoebox full of receipts, deposit slips, and invoices. If so, you're not alone. As your business grew, you found that keeping track of all of your paperwork became more complicated and involved.
QuickBooks takes the hassle out of trying to make sense of it all by providing intuitive entry of your business transactions. Its wizards and menus make it easy to enter your information and easy to find again. No more searching for that one missing receipt or trying to remember if you paid a bill. QuickBooks keeps track of all this and much more.
Simplified Reporting Make Business Decisions Easy
Because all the financial data in the world won't help you make a single business decision without a way to compile it all into something meaningful, QuickBooks makes that easy too. Reports that you need to get to right away are at your fingertips and its analysis wizards help you to make informed business decisions based on more that gut instinct. Business is just a numbers game; play to win!
Make Me More Profitable Right Away!
You want to understand your business finances better. You want to get better organized. You need to make more informed business decisions. You will get all that with the Business Owner's QuickBooks Accounting Course.
Even if you do not plan on doing your own books, the principles you will learn will teach you the right questions to ask of your own accountant. If you have an outside accountant, he gets paid by the hour, whether you make a profit or not. When you know the questions to ask, you can make your accountant accountantable for the success of your company and understand how to apply his recommendations in real-world situations.
Accounting Training To Fit Your Busy Schedule
The 4 DVD instructional course "Accounting Made Easy" teaches you common-sense accounting principles in real-world settings. You will learn to master the accounting principles that all business financial analysis is based on. Because this training is DVD-based, you can fit mastering accounting in when it is most convenient to you. In you living room, on your desktop computer, or on your laptop while on a flight, distance learning fits your lifestyle where university classes might not.
You will learn the ins and outs of small business accounting issues by one that has been in the trenches helping many clients to make their businesses more profitable. Your instructor Allen Bostrom worked for his father, an accountant that gained a reputation as the "turnaround king" for his ability to take failing small businesses and make them profitable through sound accounting principles. He knows what works in small business, so you won't get a lot of the accounting universities teach which is aimed at Fortune 500 companies and often has little practical application for small businesses. Allen's entertaining style make learning accounting enjoyable.
You will be taught with hands-on, practical exercises. The lessons are easy to follow and give you practice doing the same kinds of tasks that an accountant would do on a daily basis. The plain-english explanations of the mechanics of entering data and compiling them into a meaningful summary get you up to speed quickly without excessive accounting jargon. You learn the key concepts that you can put to work right away with all the fat cut away. You don't have time to waste learning complicated concepts and terms where simple examples can illustrate the same point. You learn by doing, so you can use what you learn immediately.
What Will I Learn?
The 8 sessions of the Accounting Made Easy module of the Business Owner's QuickBooks Accounting Course take 8 hours to watch. Another 4 hours of hands-on exercises teach you how to apply what you have learned and help you to retain what you have watched.
Sessions 1-3
Learn the fundamentals of day-to-day bookkeeping tasks. Examples teach you by doing. You will gain a better understanding of the tasks that your bookkeeper performs by doing it yourself.
You can then better choose whether it makes more sense for you to do your own books or to hire it out. If you opt to have someone else do your books, you will now know how long that various bookkeeping tasks should take. Your knowledge will help you to manage others doing your books if you don't choose to do them yourself. If your bookkeeper is taking too long doing your books, you will know it.
You will learn the key indicators of a company's financial health, how to calculate them, and what they mean to your company. You will learn to interpret financial data to turn it into actionable business wisdom.
Sessions 4-6
You will learn the must-know principles of marking down assets and how to depreciate them for the largest tax advantage in as little time as the law allows. You will learn methods of depreciating fixed assets and how to calculate allowance for bad debts.
You will see which business structure best suits your business. You will learn the benefits of each and what businesses qualify to be a sole proprietorship, a partnership, or a corporation and which form will legally allow you to pay the least taxes possible.
Session 7
You will master the technique that will enable you to navigate the debit/credit maze and learn to use the accountant's troubleshooting tool. With the knowledge gained in previous sessions, you will be introduced to preparing financial statements and how to interpret them into practical steps to take to increase your profitability. You will learn to use these reports to get the "big picture" of how your company is doing and how to spot warning signs of trouble.
Session 8
You will be introduced to gross profit, what it is, and what it means to the financial condition of your company. You will learn how the income accounts connect into the balance sheet.
The QuickBooks training portion of the Business Owner's QuickBooks Accounting Course teaches you virtually every aspect of the program. You will learn to enter electronically the same exercises that you learned in the Accounting Made Easy training. Again, you learn by doing. When you learn in a hands-on fashion, the knowledge stays with you.
You will learn to use QuickBooks wizards to set the program up with your specific industry in mind. The most important data critical to making informed decisions for your type of business are made easy to get to quickly.
Introductory Offer Pricing!
The Professional Bookkeeper's Guide to QuickBooks retails for much more, but for a limited time we are offering a substantial discount. Also, purchase The Professional Bookkeeper's Guide to QuickBooks, and we'll include a trial version of QuickBooks for free. Get a trial version of the QuickBooks software, plus the most extensive training Course on QuickBooks to date, for one very low price!
Before you can improve the profitability of your business, you have to have a complete understanding of how you are doing now. When a bank wants to know the financial health of your company, they want to know things like gross profit, margin, assetts and liabilities, and cash flow. These are all metrics measured by good accounting.
Without knowing about the flow of money into and out of your company, where it goes, and at what rate, you really don't know if your business is winning or losing the game. For example, if you have a lot of cash in the bank, but you have many outstanding bills coming up, you may be headed for problems. On the other extreme, if you have little cash balance in your bank account, but have large receivables coming in soon, you have underestimated the profitability of your company.
When you first started your business, you may have been one of those whose accounting system consisted of a shoebox full of receipts, deposit slips, and invoices. If so, you're not alone. As your business grew, you found that keeping track of all of your paperwork became more complicated and involved.
Make Me More Profitable Right Away!
What Will I Learn?
Order or Ask Questions by Phone 1-800-343-4827
