Articles by Kelly Totten

Sharing Financial Information With Your Employees
A common question amongst business owners is "how much information should we share with the employees?". Some owners want to be transparent, so employees understand their decisions, but others are nervous that the information will be used against them. Transparency into the numbers can yield great results if it's done correctly. Here are 5 tips for sharing financial results:
Published 29Jan2011, viewed 503 times

3 Quick Tips to Make More Profit and Increase Cash
Most business owners have too much on their plate, so much in fact, they end up throwing cash and profit away. It's not that they are so profitable and have so much cash they don't know what to do, it's that they "save time" by skipping the financial review. Here are 3 common places to quickly reclaim lost cash and profit...
Published 24Nov2010, viewed 201 times

Is Your Business Over Weight? How to Determine the Financial Health of Your Business
It's common for small business owners to measure their financial health based on their income statement or bank account balance and deem their business "fit" if the bottom line looks good. To reveal why this approach can be deceptive, let's apply a dieting metaphor.
Published 17Nov2010, viewed 142 times

Time Tracking: Necessary and Not so Evil
There are ways to implement time tracking that minimize the commonly quoted reasons for hating the policy, but first you need understand why time tracking is important (even if you bill on a fixed fee basis)
Published 15Nov2010, viewed 150 times

An 8 Step Process For Designing A Chart of Accounts
How do you design a chart of accounts to ensure you can get good, clear, and consistent reporting information? You could just have one account on the profit and loss statement called "expense", but that wouldn't give you good information, would it? We have to find the balance between too little and too much detail. Here's an 8 step process to help you determine what should be on your chart of accounts...
Published 28Nov2010, viewed 480 times

Hiring a Bookkeeper: 8 Accounting Interview Questions To Ask
It can be difficult to narrow down the pile of bookkeeping candidates to those who meet the needs of your job description. To be successful at this task, you'll want to ask questions that will ensure the bookkeeper really does have the right skills and will fit the culture of your business. Here are 8 questions to ask your potential bookkeeper...
Published 11Nov2010, viewed 3468 times

Cash Flow Forecasting for Milestone Billing
Forecasting cash flow for a one invoice project is pretty easy to understand. Cash will hit your bank account when that invoice becomes due. But what about projects that have multiple billing milestones? How can you predict cash flow for multiple future billings over an extended period of time? Keep reading to find out...
Published 14Nov2010, viewed 356 times

Year End Business Financial Planning In 4 Easy Steps
Fall has arrived and it's the perfect time to do some business financial planning. At this time of year, we're concerned with multiple things...finishing the year, taxes, and getting a jump start on the plan for next year. It can all become overwhelming pretty quickly. Here's a 4 part process to keep you on track...
Published 11Nov2010, viewed 238 times

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