Foundation Accounting & Consulting’s Post

Ready to flip your finances on their head and make your business work *for* you? 🌟 Meet #ProfitFirst by the legend himself, Mike Michalowicz. 📚💰 If you’ve been feeling like you’re simply spinning the hamster wheel of cash flow, it’s time to break free and see the green 🌱. Why dig deep into those financials and wonder where all your hard-earned money went, when you can finally put PROFIT first? 🚀💼 You read that right! Profit is no longer just the final figure you hope for; it becomes the very FIRST thing you account for. 💪 Imagine a world where your business pays YOU first. Beyond revolutionary, it’s practical magic. 🎩✨ Say goodbye to sleepless nights and hello to a thriving business with a financial model as easy to follow as a Netflix binge. 🛋️📺 So, get your finances in check and change your entrepreneurial life forever. It’s more than a book; it's your profit guide. 🛠️🌍 Dive in and start counting those profits—literally first! 📈🖋️ #GameChanger #BusinessTransformation #EntrepreneurLife Want more help with cash flow? Click the following link to download 5 Steps to Secure Cash Flow: https://bit.ly/4ckYa5l #foundationacs #slc #utah #accounting #bookkeeping

🧐 Did You Know? Nearly 29% of small business owners don’t keep track of their financials—a surprising stat from a SCORE survey! This means almost one-third of entrepreneurs are missing out on crucial insights that could make their businesses more successful. Keeping tabs on your financials isn’t just a “nice to have”—it’s essential for avoiding cash flow hiccups, unexpected costs, and missed growth opportunities. At Delightful Digits, we believe every business deserves to operate with confidence, armed with the knowledge that comes from sound financials. If bookkeeping has been a challenge, you’re not alone—and you don’t have to do it alone, either. Our services at Delightful Digits are designed to make staying on top of your numbers stress-free so you can focus on what matters most: running a successful, thriving business. 👉 Don’t let financial oversight hold you back! Send me a DM to book a FREE consultation with us and start your journey to financial clarity. #SmallBusinessFacts #FinancialHealth #DelightfulDigits #BookkeepingSupport #FoodAndFinance #RestaurantSuccess #BusinessGrowth #FinancialClarity #CashFlowManagement #StressFreeFinances #BusinessFinance

Of all the roles a small business owner takes on, often the most challenging is managing the business’s finances. The reasons are many, but most business owners don’t have a background in business finance, and at least at the start, are more focused on bringing in business and serving the customers than they are on record keeping and financial planning for their business. As a result, many work long and hard at their businesses with only mediocre success to show for their efforts. Others fail completely. It’s inevitable that you’ll make some financial mistakes and learn some hard lessons as a business owner, but it’s important to be aware of the most common mistakes so you can avoid them. You can improve your chances for success and profitability by being aware of and steering clear of these common financial mistakes. To help you get started, click on the link below to download the 8 Biggest Financial Mistakes Small Business Owners Make: https://lnkd.in/e6-mSCnz #financialmistakes #entrepreneur #entrepreneurlife #smallbusiness #supportsmallbusiness #smallbusinesstips #businesstips #successful #bookkeeping #accounting #taxes #alliedhealth #wellness #healthcare #pabookkeeper #paaccountant #balancedbearbookkeeping

Running a business is an exhilarating journey, but it can also be fraught with anxiety, particularly when it comes to managing finances. Many business owners find themselves asking: "Why is my bank balance different from my book balance?" "How did I end up with a tax penalty?" "Why is my profit lower than I expected?" "How did my cash flow become so tight?" "Why do my financial statements show a loss when I have money in the bank?" These questions often arise from a lack of clear understanding of financial management, leading to stress and uncertainty. Without a solid grasp on your financials, it’s easy to feel overwhelmed and unsure of your business’s health. As a bookkeeper, I see firsthand the relief and clarity that come when business owners partner with a financial professional. By providing accurate records, insightful analysis, and strategic advice, I help business owners navigate their financial challenges with confidence. If you’re feeling the weight of financial anxiety, know that you don’t have to face it alone. Let’s work together to turn confusion into clarity and stress into success. Connect with me to learn how I can help streamline your financial management and empower you to focus on growing your business. #BusinessManagement #FinancialHealth #Bookkeeping #SmallBusinessSupport #Entrepreneurship #FinancialClarity

Run Your Business Without Running Yourself into the Ground... A surprising number of businesses fail simply because they run out of cash. Owning a business is a dream for many, but it can also be Risky While checking your bank account monthly tells you if you're currently profitable, it doesn't guide your business towards long-term success. Why Budgeting and Expense Tracking Are Essential Hoping for the best isn't a strategy. Setting a budget and tracking your expenses empowers you to •● Monitor your operating costs and sales to ensure you have enough money to keep the doors open. ●Deal with Challenges like you Preparing for unforeseen issues like seasonal sales dips or rent increases. ●Plan and budget for strategic moves that take your Business to the Next level ______________________________________________ Imagine Sarah, a food truck owner with a loyal following in the financial district. Her delicious sandwiches and prime location keep her busy. But is simply checking her bank account enough? While Sarah knows her current financial situation, she lacks the tools to Predict if she'll have enough capital a year from now. Seize an opportunity like a storefront rental. Budgeting empowers Sarah to make informed decisions. __________ ____________ Bonus Tip: Tax Time Made Easy Organized business expenses make tax season a breeze. You'll have a clear picture of potential deductions and write-offs, saving you time and money. Ready to take control of your small business finances? In the comments below, share your biggest budgeting challenges or best practices! Reach Tinuola Adedokun profile for assistance #smallbusiness #budgeting #finance #entrepreneur

𝟓 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐌𝐢𝐬𝐭𝐚𝐤𝐞𝐬 𝐊𝐢𝐥𝐥𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐏𝐫𝐨𝐟𝐢𝐭𝐬 Think you're on top of your finances? These common slip-ups could be silently draining your business potential!  From messy expense tracking to DIY accounting nightmares, I'm breaking down the top mistakes entrepreneurs make - and how to fix them FAST. Swipe through to turn your financial game from 📉 to 📈 and set your business up for success! Which mistake are you guilty of? Drop it in the comments and let's level up your accounting strategy together! #businesstips #accounting #entrepreneurlife #financialfreedom #businessgrowth #20daylinkedinchallengewithhaoma

Ever had that routine check-up save the day? It’s a good reminder that just like your health, your business needs regular check-ins to stay in top shape. Think about it: a balance sheet is like a snapshot of your business's financial health. It measures what you own (your assets) and what you owe (your liabilities) to show your overall equity – your business’s worth. Running quarterly balance sheets helps you catch small issues before they grow into big problems. This proactive approach can save your business from financial trouble and keep it on a healthy path to success. As a business coach and bookkeeper, I’m here to help you keep your business finances in check. Are you performing regular check-ins on your business’s financial health? Let’s chat about how to keep your business thriving and financially fit. #balancesheet #financialreporting #financialreport #businessvalue #bookkeeper #bookkeeping #smallbusinessowner #smallbusiness #smallbusinessfinance #entrepreneur #entrepreneurlife #businessbookkeeping #bookkeeping101 #bookkeepinghelp #bookkeepingforsmallbusiness #bookkeepingservices #bookkeeperlife

💵 Feeling the cash flow squeeze? Don't sweat it! Become a Cash Flow King with these 5 essential tips: 💰 Track every dollar: Accounting software or a bookkeeping service can keep your finances organized and transparent. 🪙 Prioritize ruthlessly: Focus on buying ONLY what's essential for your business operations. Every penny counts! 💪 Negotiate like a champion: Aim for extended credit terms (Net 30 or Net 60) from suppliers to free up cash flow. 📦 Discounts are your secret weapon: Explore bulk purchases or find alternative suppliers for better deals. 🧮 Budgeting is your BFF: Create a spending plan and stick to it religiously. Every dollar saved is a win! Ready to unlock the secrets of financial mastery? Follow our page to get started! #BusinessTips #Finance #CashFlowManagement #Entrepreneur #BusinessGrowth #BusinessSuccess

Every business owner is busy. Sometimes it’s too easy to forget about the important things (staying up on your books), in light of more urgent matters (putting out fires). The problem is that when the important things are neglected, they will come back to bite you. Why is staying on top of your books is critical? 1. Avoid Surprises: Regularly updating your books helps prevent unexpected financial shocks and keeps you informed about your cash flow. 2. Accurate Reporting: Up-to-date records ensure accurate financial reports and help with tax filings, reducing stress and potential errors. 3. Informed Decisions: With current data, you can make smarter business decisions and spot trends early. 4. Financial Health: Staying on top of your books helps track expenses, manage budgets, and maintain profitability. 5. Peace of Mind: Knowing your finances are in order brings confidence and reduces anxiety about your financial situation. What’s the lesson here? Keep your books updated—your future self will thank you! #Bookkeeping #Accounting #Finances #FinancialManagement #Money #Expenses #StayOrganized #Business #Entrepreneur #Startup

I asked small business owners one simple question: "What early bookkeeping mistake will you never make again?" The result: Four profound mistakes every entrepreneur should avoid in their respective businesses. Let's dive in: Mistake 1: Neglecting to keep a thorough record. Too often, small business owners choose to keep minimal financial records. Instead, every transaction, no matter how minute, should be accurately recorded. This is what ends up making the biggest difference. Mistake 2: Mixing personal and business finances. A good business owner can separate their personal funds from business income. A bad business owner can mix the two, creating financial chaos. But a legendary business owner can keep them separate and streamline the business operations. Mistake 3: Not planning for taxes. Until you've paid your first heavy penalty, don't take your eye off the ball. "By failing to prepare, you are preparing to fail." - Benjamin Franklin. Mistake 4: Ignoring the importance of cash flow. Traditional wisdom says "Profit is king." But that's only true if you don't do two things correctly: - Managing your payments. - Keeping track of your receivables. Then, maintaining a healthy cash flow works great. As a small business owner, what's the bookkeeping mistake you've learned the most from and will never repeat? #SmallBusiness #Bookkeeping #Entrepreneurship #BusinessMistakes