Happy New Year! #newyear #tne

Maximizing efficiency creates time. Do you need more time to focus on what you are good at in your business? Let The Numbers Edge teach you how to take your business to the next level. #efficiency #business #finance #thenumbersedge

Happy Holidays! #holidays #tne

If you find your business needs cash, and you're not used to that: Make sure you’re invoicing promptly. This is a good rule to follow all the time, but when cash is tight, you should be sending invoices at the earliest possible moment you can get them out to your customers.

If you are having a low or negative cash flow, your next credit card payment and amount are to be quickly assessed. Determine the minimum payment allowed to be made on the credit card and assess the consequences of paying less than the full balance. #cashflow #payment #creditcard

If you find your business in a nail-biting cash situation, and you're not used to that, the “float,” or value of uncleared checks is to be analyzed, to determine to what extent “float” can be relied upon if needed. #unclearedcheck #float #finance #tne

In general, holding printed checks is discouraged as a practice, as it is preferred not to print the check at all so that Quickbooks reflects vendor balances more accurately. #checks #quickbooks #finance #tne

Each accounts payable item should be attributed to a “target date” to send payment and assigned a grade regarding the extent to which the vendor can be stretched (and by how long). #accountspayable #targetdate #payment #tne

Happy Thanksgiving! #thanksgiving #tne

Decide how you want customers to pay you. Ideal is ACH where you're in charge of collecting the payment. It is easy and low cost. (The Numbers Edge uses PaySimple). Credit card processing has lots of options. #ACH #payment #paysimple #tne

If you find your business in a nail-biting cash situation, and you're not used to that, all checks printed for vendors are to be approved in advance of check printing by the designated Controller, CFO, or manager responsible for managing the cash balance. #check #cfo #finance

To all those who served, we are thankful for your service. We honor you and all that you do for our country. #tne

Track your expenses. This is the crucial step towards building financial statements, maximizing your tax deductions and monitoring your business. Have a system that organizes receipts and important records. Note on all your receipts what the business purpose of the spending was.

If you find your business in a nail-biting cash situation, and you're not used to that, cash balance, or book balance, is to be forecasted each day going forward until the next payroll, or until another appropriate milestone when a large payment will clear. #cashbalance #tne

Collecting your payments by check has some pros and cons - the con being that you're waiting for someone else to decide to pay you. The Numbers Edge will help you determine what is best for you. #check #finance #tne

If you find your business in a nail-biting cash situation, and you're not used to that, each customer invoice in the accounts receivable is to be analyzed, and a precise expected date for receipt of payment is to be identified. #accountsreceivable #invoice #tne

Have a bookkeeping system - either a DIY system like QuickBooks or hire an outsourced party to do it or you. #bookkeeping #quickbooks #tne

If the weekly cash flow report is not on a tight, reliable, consistent routine, it needs to be - starting immediately. Publish a weekly cash flow routine by Tuesday mid-day covering actual transactions through the previous Sunday night. #cashflowreport #finance #tne

Know your GROSS MARGIN on your sales. This is a critical financial measurement for most businesses. The Numbers Edge can offer some tips on how this works. #grossmargin #sales #finance #tne

If you find your business in a nail-biting cash situation, and you're not used to that, a “daily cash report” is to be distributed each morning to the appropriate members of finance and executive management. #dailycashreport #report #finance #tne