Viewing entries tagged
COGS

Balancing Act - Is Your Balance Sheet Confusing? We Can Help!

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Balancing Act - Is Your Balance Sheet Confusing? We Can Help!

No matter what goal you’re pursuing, maintaining balance in life is important. And if you’re a business owner, maintaining an accurate balance sheet is important! But sometimes it can feel like you’re doing mathematical gymnastics to get everything in place. This is when having a bookkeeping coach comes in handy.

To understand your balance sheet better, let’s define terms...

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Can You Stay in the Ballgame? Checking Your Financial Stats

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Can You Stay in the Ballgame? Checking Your Financial Stats

Is the end of your fiscal year on the horizon? Even though spending time at a ballgame is more fun than reviewing your bookkeeping files (unless you’re us!), it’s important to have a solid financial line-up. Don’t strike out unexpectedly due to poor planning. Let’s get ready to play ball!                                          

Make sure that your business reviews these areas, just as sports teams do:

What are your stats?

Gross Profit Margin = (Revenue minus COGS) divided by Revenue

Where should it be if  you compare to the industry average?

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