According to your profit and loss (also known as an income statement), your business is showing a profit. However, when you look at your bank balance, it shows a lot less than the amount of profit you supposedly made. What happened to your profit? When reviewing reports with our clients, this question comes up often. […]
Category Archives: Reporting
26
Jan
Jan
For most every purchase, you receive a receipt, either paper or electronic. They pile up and you do not know what to do with them. Do you really need to save all your receipts? In short: a resounding YES. While saving every receipt may sound tedious, the advantages far outweigh any inconvenience. Here are some […]
17
Sep
Sep
Without a doubt, knowing what is going on in your business is of utmost importance to you. Which reports should you look at to find this information? To get a comprehensive idea of how your business is performing, we recommend reviewing four reports on a regular basis – the Balance Sheet, the Income Statement, the […]
05
Jun
Jun
Imagine that the story of your life is being written right now. What you do every day and how it affects other aspects of your life is being chronicled at this very moment. Your history is being recorded for the benefit of future generations. The only problem is it’s being written in a language that […]
12
Feb
Feb
Oftentimes this is the time of year that businesses are working on their budget and planning and forecasting for the year. We work with many small businesses that use budgets and would like to share with you three tips that can help you with your budget. These are: Pay attention to your sales cycle Leave […]
07
Nov
Nov
The weather is cooling down and the days are getting shorter. As we notice these changes each year, it is a reminder that the year is drawing to a close. Here at Beyond, it’s our cue to begin preparing for the year-end and especially for filing 1099s. What is done in November can greatly reduce […]
30
Jul
Jul
If you are like most small business owners, you barely glance at the Balance Sheet and go straight to the Profit & Loss Statement (also known as the Income Statement). But there is a lot of value in reviewing this report. In this article, we discuss the main components of the Balance Sheet. We also […]