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It All Add$ Up Bookkeeping and Tax Tips
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This month we're focusing on two avenues that indirectly go hand-in-hand in growing your business. First, we talk about what you can do to get money in the door quicker. Accounts Receivable is an important part of your business, and the sooner you get the money in, the better. Next, we talk about the importance of an effective team. It takes cash flow to build your team. Once you have your team, you want to encourage all members to participate to their fullest. After all, happy customers do tend to pay quicker.
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A/R - FAST TRACK TO PAYMENT
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Are you using technology to increase your cash flow from invoicing to money in the bank? If "I've always done it that way", is leading to longer A/R payment terms, now may be the time to revisit your policies and procedures regarding accounts receivable.
With the use of online billing, direct transfer of funds and services such as PayPal, technology has allowed businesses to make substantial improvements in their customer invoicing processes. Read our six tips you can use to review your own invoicing process.
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EXPANDING BUSINESS THROUGH TEAMWORK
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| Grow Your Business with an Effective Team |
There is a saying...."Two heads are better than one". That's the foundation of building a strong team to grow your business. Either through outsourcing services or building your own internal team, it's important for everyone to be on the same page. Being able to work productively with a team is one of the most crucial aspects of achieving success in a business setting. A solid team will increase creativity in the workplace, improve the quality of work, and also foster healthy and productive employee relationships.
Teams can accomplish work more quickly and effectively than people taking on projects on their own and collaborative work also keeps employees accountable to each other, which increases motivation.
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We want to wish everyone a safe and Happy 4th of July and would especially like to thank our service men and women as well as their families for their sacrifice to protect our freedom.
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Connect With Us for Ongoing Bookkeeping & Tax Tips
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