Cyber-security Tips for Small Business

FDIC listed a comprehensive list small business owners can use to protect their data and their money from hackers.  Their cyber-security tips in short are: 1. Keep up-to-date anti-virus software on all computer devices with automatic updates. 2. Regularly install ‘patches’ or updates to all software. 3. Keep employee access to data ‘job specific’. 4. Train employees about cybersecurity issues (30 minute SBA online course) 5. ‘Strong authentication’ beyond just a...
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Cash Flow Statement – Why It Matters

Along with an income statement and a balance sheet, the cash flow statement provides a (potential) investor with valuable insight about the health of a business. It covers three key areas where cash moves in and out of a business. 1) Operations 2) Investments and 3) Financing. When reviewed with an income statement (a.k.a. Profit and Loss or P&L Report) and a balance sheet (Assets & Liabilities),...
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QuickBooks Tip: Progress Invoicing

What is progress invoicing? (Activation Steps Below) “Progress invoicing, also called progress billing or partial billing, is invoicing from an estimate in stages instead of for the full amount. However, you can invoice for the full amount when using progress invoicing.  Using progress invoicing, you can link progress to estimates that will be included in the Job Progress Invoices vs. Estimates report. If you are not charging...
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Accounts Receivables – Managing DSO

Wooo Hooo!  Made the sale, sent the invoice and feeling good!  Right?  Well kind of … Remember an ‘invoice isn’t cash’ so don’t overlook the ‘getting paid’ portion of the sales agreement (Refer to tips below). While it may seem obvious, many business owners become so consumed with making the sale that they fall short controlling the payment of the sale.  The result is their Net 30...
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