Welcome Back It’s Finance Friday yet again. I am happy that we are celebrating the last Friday of February. This weather has been amazing. I hope the Ground Hog was wrong and Spring will be early this year! is just around the corner now. Today we are going to look at accounts payable and how that impacts your cash flow. A few weeks ago we looked at accounts receivable and saw that accounts receivables brought cash into the company. This week we look at accounts payable.
What's the Expense
Hi Guys, welcome to this week’s Finance Friday post. Today we have some interesting stuff to talk about, expenses. Expenses are a critical part of running your business. How does that saying go? “In order to make money, you have to spend money.” and it is true. Circle of Life: When you think about your finances, in theory, you can picture a continuous cycle. First, you spend money on investments that will be used to run your business. Once you have spent the money, you wi
Cash is King...
Understanding Cash Collection Finance Friday is back, and this week we are going to explore cash collection. Last week we looked at how your company brings in revenue. We spoke about making the sale, but once you have made the sale how are you getting paid? How do you get paid? There are a few ways to get paid. At the time of purchase, your customer may provide cash in exchange for the product or service. That is the best case scenario when cash collection happens at the same
Do You Understand Your Revenue?
Happy Finance Friday! Hope you have had a good week. Thanks for checking in today. This week we are going to look at Revenue. As a business owner, your revenue is pretty important. Without revenue, your business would not be able to survive very long. In speaking with different business owners and managers, I found many businesses do not understand their revenue streams. Today, we are going to give you some information that will help you in understanding your revenue bette
Finergy Five! Do You Know These Elements?
Hey there, thanks for stopping by. Today we are switching it up a little bit. From time to time we will be posting what we like to call the Finergy Five, which will consist of various top five list. Today in our first Finergy Five, we will be looking at five key financial elements: 1. Revenue and Accounts Receivable – To run your business, you need to understand where your revenue streams are coming from and how your clients pay you. The relationship to between revenue and ac
Why use a Bookkeeper?
Welcome back! It’s Friday, and that means it is time to talk about finance. Last week we talked about what bookkeeping is. This week we are going to look at the benefits of using a skilled bookkeeper. There are many benefits of using a bookkeeper, and today we are going to look at three considerable advantages: time, accuracy and analysis. Hiring a bookkeeper allows the business owner to spend more time focusing on their business. Many people do not enjoy or understand financ
Bookkeeping 101 - The Basics
Happy Friday Everyone! We made it to the end of another work week. I hope you had a good week. The weather has been crazy here. One day it feels like we are in the Arctic Circle and the next it feels like spring. Over the next couple of weeks, we will be walking through various topics related to bookkeeping. Today we will look at part 1, what is bookkeeping? To put it simply bookkeeping is the process of recording all the transactions your business does each day. Transactions
Let's Talk About Finergy...
I'm very excited to share the first Finergy blog post with you. Today we are going to talk about what is Finergy and what you can look forward to on the blog. So, first things first, what is Finergy Inc.? Finergy is a local company based out of Fishkill NY, in the heart of the Hudson Valley. Finergy provides financial support to local businesses. Our primary function is bookkeeping, but we also provide more complex analysis. Our goal is to help you the owner/manager underst