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Viewing entries tagged with 'CFO services'
Samarak Launches New CFO Services Website
Samarak is splitting into two companies, one of which is an internet company which helps accountants, bookkeepers and QuickBooks consultants obtain business over the web and the other of which provides CFO Services to small and medium-sized companies throughout the US. As such, we have launched a new website for the CFO Services side of Samarak and have removed the CFO Services content from www.samarak.com.
New Blog for Small Businesses to Focus on Finance, Operations, HR, QuickBooks, Excel, etc.
We recently decided to add blogs to our site as a means of addressing some of the issues our customers deal with on a regular basis. Since our customers are financial professionals serving mostly small and medium sized businesses, you can expect blogs about the finance, operations and human resources issues that most small businesses deal with. In addition, I am a long-time user of QuickBooks and Microsoft Excel, so you will see a lot of blogs about how to do things in QuickBooks, why and how QuickBooks can make your life easier, how to view and manipulate your QuickBooks data in Excel, and the like.
Only the Big Numbers Add Up
One of the first things I do when I get involved with a business is to figure out what their major sources of revenue and expenses are. I do this in two ways. First, I talk to management to find out what things they consider to be important to the business. Second, I spend a couple hours going through their QuickBooks file.
Let Your Employees Know What They Cost
Employees cost significantly more than what they receive in salary. If you offer generous benefits, then they probably cost much more. Making your employees aware of this is a simple way to make them feel more valuable.
Evaluate Your Profitability By Client
We generally know who are biggest customers are and which customers pay us the most money. It is much more difficult, however, to know who our most profitable customers are. The end of the year is a good time to evaluate your customers and figure out which ones have earned you the most profit during the year. Because it is often difficult to break costs down on a customer-by-customer basis, using your financial data to determine which customers were the most profitable might be difficult or even futile. All the same, the financial data is the place to start.
QuickBooks Classes
QuickBooks classes enable you to essentially break your business down into a number of smaller businesses and look at complete profit & loss statements for each business. For example, you could break your business down by industry, location, product or service, or anything else that is meaningful for your particular business. This is a powerful feature of QuickBooks and one that I often recommend clients use.
Should You Hire a Part-Time CFO or Controller?
Many small businesses suffer from the lack of strategic financial input. The questions below will help you determine if your company would benefit from CFO Services. If you answer "No" to any of these questions, then it's likely that you are missing out on valuable and easy to obtain information that could help you make better business decisions, and/or that your business is suffering from inefficient financial and administrative processes.
