Month: February 2019

Three Business Reports for more Control

Three Business Reports for more Control

A great business needs great financial organization. Why? Because those who “wing it” when dealing with things like revenue and expenses, eventually find themselves in a downward money spiral—that is really hard to get out of. Any serious landscaper or interior designer will tell you to properly measure the ratios of products you’re using, in order to get the most out of them. Otherwise, it’s just money down the drain. Know where your money is going, how often and why. For instance, when you have a clear understanding of your cost of goods for the month, you will be able to plan with greater ease the number of products needed for the following months. Then you will be able to see amounts of money spent and where best to apply it within the company. To get more control of your finances, maintain these 3 monthly reports. 1. Income report – Also known as the Profit and Loss Statement, shows a business its revenues vs. expenses within a monthly, quarterly or yearly timeline. The end result will be your net income or net loss (not to be confused with gross incomes or losses). Net income is company profit made after all business Continue Reading »