Don't ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers." Businessman Tilman Fertitta reminds us that it might not matter how great a product or service you offer. If you don't keep on top of your financials and "know your
Profit & Loss Statement: How do you Measure Up?
As a small business owner, how do you measure up in terms of revenue, expenses, and net income? Are you able to quickly answer these questions: How much did you earn in sales last week? What is the monthly cost of running your business? What is your net income (or loss) so far this
Owner’s Equity Time Lapse
In previous posts, we brought the balance sheet into focus and then adjusted our aperture to focus on three important balance sheet analyses. Now we'll take a closer look at one of the main sections of the balance sheet - Owner's Equity. Think of owner's equity in terms of a time-lapse. A
Adjust Your Aperture: 3 Balance Sheet Analyses to Focus On
When we discussed the basics of a balance sheet, we likened it to a snapshot of a company's financial position: what a company owns and owes at a particular point in time. The most important element of a good photo is the ability of the photograph to communicate with the viewer. It should be able
Say Cheese! – Bringing the Balance Sheet into Focus
The Balance Sheet provides a snapshot of a company's financial position - what the company owns and what it owes - at a particular point in time, often at the end of a month, quarter or year. Business owners, investors, and lenders use the Balance Sheet to assess a company's financial strength and
Year-End Accounting & Human Resource Tips for Small Businesses
It’s hard to believe, but the end of the year is quickly approaching! Megan and Natalie sat down recently to share suggestions to help business owners prepare for year’s end. At Multi Business Solutions, we love helping businesses with their finances and their people! Year-end
Undeposited Funds – QuickBooks Tutorial Video
Do you ever... get frustrated when you reconcile your bank statement? see a deposit show up in your bank account, knowing that it's made up of several individual payments received in QuickBooks? become annoyed with the time it takes to match things up? We often see business
Morning Musings with MBS
Our very own Natalie Remund recently chatted one morning with Lisa Workman, President of the Fergus Falls Chamber. The interview aired on PRTV, a local Fergus Falls channel. The segment, "Find It In Fergus Falls," showcases area businesses and events. Natalie shares the humble beginnings of Multi