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Bookkeeping is an essential part of your business. Accurate bookkeeping lets you know where your business stands financially.

1. How much in revenue did your business generate this year; this month, last month?

How much did it cost you to generate this revenue? This is call Cost of Goods Sold or Cost of Sales. What was your gross margin? This is determined by taking total revenue and subtracting your cost of sales.

2. What are your operating expenses?

What about the various business expenses as a percentage of revenue? Are there key areas in which you need to trim expense? Are there expenses that you should increase your spending on (i.e., marketing and/or advertising)?

3. How much cash does your business have on hand?

Who owes you money? Should you be making phone calls to collect your money? Is the money collectible?

4. What are your capital expenses this year?

Who does your business owe money to? Who should you be paying now so that you pay on time, but just in time? What is your overall debt ratio?

5. Based on profit, is it time to take a Profit Distribution?

What are your sales and revenue cycles? How does this year look compared to last year?

How about this month compared to the same month last year? Is it time to purchase or lease new equipment that can help you grow your business?

6. Are your business financials ready for your CPA to prepare your business tax return?

These are just some of the key reasons to have your business bookkeeping current and in order. Business tax preparation was listed last on purpose. While having your bookkeeping ready for a tax return is important, it is by no means the most important reason. By accomplishing the others the last reason, largely, will fall right into place as a result. The other reasons listed allow you to make informed, intelligent business and financial decisions.

Catalyst Quickbooks wants to be YOUR Business Bookkeeping and Accounting Resource!

When it comes to small business bookkeeping, Catalyst QuickBooks understands what it takes to get and keep your business bookkeeping correct.

As a result:

You will save money with your CPA!

You will be in a position to make informed, intelligent business decisions. Catalyst QuickBooks will give you your time back, allowing you to focus on the passions and strengths of your business or profession!