| When it comes to your financial success it is critical | | | | 6. Who's behind in paying me and by how much? |
| that you have a sound accounting system in place. | | | | 7. How much inventory do I have: in total and by item? |
| You need an accounting system that will provide you | | | | 8. To whom do I owe money and how much? |
| with the information you need to make informed | | | | 9. What was my profit last month? |
| business decisions. With a good accounting system in | | | | 10. How much do I OWN, and how much do I OWE? |
| place you'll uncover a goldmine of profit-building | | | | You need to know if your sales are up, you'll need |
| information as you determine your financial standing, | | | | extra cash to buy replacement inventory. If your sales |
| and when used properly, this information can help you | | | | are down, you'll want to pull back on inventory |
| better plan for the success of your business. | | | | purchases. Sales increases in a category can mean a |
| Do you have a customized accounting or bookkeeping | | | | new growth opportunity. Sales decreases need to be |
| system? Take this quiz to find out: | | | | investigated to determine the reason for the loss. |
| Answer these 10 questions about your business: | | | | The important information that you can receive from |
| 1. Were my total sales up or down last month? And | | | | your accounting system is the trends that are found in |
| where they designated by category? | | | | your financial past. Historical values and performance |
| 2. What was my total gross profit last month? And | | | | give us information on where the company is heading |
| was it designated by sales category? | | | | and things that can be done to improve your financial |
| 3. What is my gross profit per item? | | | | outlook. |
| 4. What were my expenses by category last month? | | | | Need help putting together a good accounting system |
| 5. Who owes me money and how much? | | | | for your small business? We can help. |