The bumpersticker says it all: “I can’t be out of money – there are still checks in my checkbook!”

I Mind My Own Business…
But More Importantly, I’LL MIND YOURS!!!

My clients do their thing. They have retail stores or service companies, they practice law, sell cruises, even qualify people for mortgage loans. Whatever!

I, on the other hand, do MY thing. My name is Cory McDade, and I’m the President of Balance Plus, Inc. We’re a bookkeeping/accounting service company that specializes in helping small to medium sized businesses keep their records in order, so that they have the information needed to take care of THEIR thing.

The following is a partial list of our services:

•     QuickBooks Set-Up & Training
•     Accounts Receivable & Payable
•     Billing / Invoicing
•     Check Writing Services
•     Collections
•     Bank Reconciliations
•     Inventor
•     Cash Flow / Cash Management
•     Payroll Processing
•     Sales & Payroll Tax Reporting
•     Office Management Consulting
•     General Ledger / Journal Entries
•     Profit & Loss Statements, Balance Sheets
•     QuickBooks Point of Sale Installation

Here’s a riddle:

“My sales are up, but my profits are down. How is that possible?”
Do you know the answer?

Answer: Profits could be down despite sales being up because some or all of these are true:

1. You are selling more of your lower profit items, rather than your higher profit items.
2. You’re spending too much on hourly employee costs.
3. You have failed to take advantage of discounts on inventory items.
4. You have too much money tied up in inventory that is not selling.
5. Your accounts receivable are not being billed on a timely basis, and/or you have no follow-up systems for unpaid receivables.
6. You aren’t taking all the deductions on your taxes to which you’re entitled, because you aren’t keeping accurate track of your deductible expenses.
7. You aren’t taking all the deductions to which you entitled on your taxes, because you aren’t keeping accurate track of your deductible expenses

This isn’t actually just a riddle. It’s an indication of how important it is for you to know the facts about your business!

Running a business takes much more than providing the service or product that you do. Besides knowing how to do dentistry, or plumbing, how to be a loan agent, or a retail store owner… whatever… running a business means that you must understand how to manage personnel, how to create and implement a marketing plan, how to handle billing and payroll, how to manage your inventory, and much more.

Your business decisions - what to buy, how much to buy, how much to pay, and how much to charge - should all result from an analysis of the data provided by your bookkeeper / accountant.

The worst mistake you can make in business is to try to run the company by “the seat of your pants”, instead of by making decisions based on your business data. Meet with your bookkeeper today. If you don’t have one, then hire one! Make sure you are capturing the data that you need to help you run your business properly. Make sure that the data is getting to you in a timely fashion. Then make sure you use it!

Bookkeepers Perform Balancing Acts for Small to Medium-Size Businesses

The success of businessmen and women is measured by the relationship between their profit and loss. Yet, incredibly, for many the notion of knowing exactly what they’ve spent, and on what, and how much they have left – is an alien concept.

Unless, of course, they hire a bookkeeper to mind their books. As one bookkeeper, a veteran of over 20 years, put it: “We offer a host of bookkeeping and accounting services – on a contract basis - designed in large part to protect business owners from themselves!”

Businesses owners are skilled at doing what they do. They are great plumbers, or loan managers, or auto upholsterers – but they may not be familiar or comfortable with the processes and procedures by which they can keep accurate track of their income and expenses. There are countless stories about business owners who discover that they have never sent out the invoice for a job they’ve waiting to get paid on, or who suddenly learned that their bank account is overdrawn.”

Bottom line, bookkeepers provide business owners the tools – such as QuickBooks and Point of Sale – that provide them accurate and up-to-the-minute information about the financial state of their business. With this information, owners can forecast their revenue and expenses, and plan accordingly.”

Call Cory (925) 680-9300.