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ALL YOU NEED TO KNOW ABOUT THE STIMULUS CHECKS.

Posted on April 3, 2020 at 4:04 PM Comments comments (2)


                   

stimuluschecks

   We are aware that these are unprecedented Times and there are a lot of challenges during these Period. We are encouraging you to rise above this Situation and remain confident, that you will come out Stronger, Bigger and Better off. 
 
   President Trump just signed off a $2 Trillion Relief Bill, which will come in form of Stimulus Checks to offer Assistance to Millions of American Household, affected by the Corona Virus Pandemic. We are aware that most of us have Questions  and we want to enlighten you more about, what in this for us.

   The Following are the Basic Things to know about the Stimulus Checks:

  •  Your Eligibility for the Stimulus Check is based on your 2019 Tax Returns as well as your Adjusted Gross Income. If you are yet to file your 2019 Taxes, the IRS will use the 2018 Taxes to determine your Eligibility. The IRS will only use your 2018 Tax Returns, if you have not filed your 2019 Tax Returns. 


  • You must have a Valid Social Security Number to be eligible for this Check. People with  ITIN Numbers and Tax ID Numbers will not be issued Checks.     


  • The Check Values are based on 3 Plans Income Qualification: 

  1. SINGLE TAX FILERS - The Adjusted Gross Income Qualification is $75,000 or Less. This Category will get a $1,200 Stimulus Check.     
  2. HEAD OF HOUSEHOLD FILERS - The Adjusted Gross Income Qualification is $112,500 or Less. This Category will get a $1,200 Stimulus Check.
  3. MARRIED FILING JOINTLY - The Adjusted Gross Income Qualification is $150,000 or Less. This Category will get a $2,400 Stimulus Check.        

       It is important to note that if the Income Exceeds the threshold, the Amount will be reduced on a Sliding Scale. 


  • For Each Dependent/Child, that is Under the Age of 17 Years and Below, you will get an Additional $500 Check, for each Child. Please Note, that this is as long, as the Child/Dependent was stated in the Tax Returns, at the time of Filing. 


  • If a Parent claims the Dependent/Child as a Dependent and this Child/Dependent files their own Taxes, the Parent will not get the Additional $500 Stimulus Check.       



  • The IRS will send the Payment to the Bank Account Information, that you have on File. 



  • If you did not indicate a Bank Account  nor used a Direct Deposit Method for your Tax Refunds, the IRS will mail the Check to the Address on File. 



  • In the Event, that you have moved from the Address on File, you need to File a Form 8822 with the IRS. This is a Change of Address Form to update your Address with the IRS.



  • The IRS will not withhold your Stimulus Check, if you are owing Taxes, the only clause is, if you are backed up on your Child Support Payment. You may have to call the Agency, in charge to make Payments and settlement, so that you are assured of getting your Full Stimulus Check Payment. 

  • The Earlier you file your Taxes, the Earlier you are assured of getting your Stimulus Check.      



        We are available to help you with all the Questions, that you may have , regarding the Stimulus Check as well as any other Question on the Stimulus Package. We are also available to assist you virtually. Call us on 202-422-4586 to set up an Appointment.

      It is always our Pleasure to Help you. 
  

Tax Season is Still On.

Posted on February 19, 2018 at 11:55 PM Comments comments (3)
  

Do you have all your required Tax Filing Documents?

* Form W2

* Form 1099 - MISC (If you are a Contractor or Independent Employee)

* Form 1099 - G (To show Payment received from Government Agencies, Unemployment Benefits, Alimony, Child Support).

* Form 1095 - To show that you are enrolled in a Qualified Health Plan, which will allow you to get your Premium Tax Credit).

* Form 1098 - To show Payment Received from Interest (Interest Income).

* Profit & Loss Financial Statements (If you are a Business Entity or Corporation)

* Property Taxes paid on Principal Properties.

*Charitable Contribution Statements.( To show Tithes, Offerings and Donations given to Religious Organization)

* All Receipts of Purchases Made during the 2017 Year. 


Additional Forms, that you may receive:

a) 1099- INT - To Show Payments received on Interest.

b) 1099- DIV - To Show Payments received on Dividends.

c) 1099- R - To show Pensions and Payouts from Individual Retirements Accounts.

d) 1099-B - To show Broker Transactions and Barter Exchanges.

e) 1099-S - To show Real Estate Transactions.


Businesses may not like sending out Forms 109, but they are required by law to send them out. There are also penalties for failing to issue these Forms. No one wants trouble from the IRS.

Generally, Businesses must issue these forms to any Payee (Other than a Corporation), that receives $600 or more during the financial Year. This is the basic threshold.

Do you need more clarification on any of these Required Documents? Feel Free to reach out to us and we will educate you more, help you reduce your Tax Liabilities and guarantee your Maximum Tax Refund.

 

Get Paid What You're Worth.

Posted on May 2, 2017 at 11:59 PM Comments comments (7)
Wow, The Busy Tax Season is over; we're back to Normal Business Activities. I would like to share with you, how you can always be in Demand and get paid what you're worth.

I visited an Eyebrow Threading Specialist recently and was amazed at how she attended to her Clients and the artistic way, she used the popular Thread, that we're all used to shape her Clients' Eyebrows. This was so amazing to me and it was funny, that as simple as it looked, she was making "Big Bucks" from this Trade, with all the Clients waiting to have their Eyebrow shaped and to think, that was all she did for a living was even more thrilling.

This led me to one Conclusion - "To Get paid what you're worth, You have to Become a Master at One Thing". Seriously, Take the Best Skill that you have today - Whatever it is - And Become a Master at it. Don't worry about how little or insignificant, you think it is.

Study It.
Practice It.
Perfect It.
Perform It.

There's No Excuse- Anyone can master One Thing, if they put their mind to it; Our Brain has been programmed this way. When you do, you will be surprised at how soon you'll earn a Reputation for that Skill. It may be as Simple as the Art of Eyebrow Threading or being an expert in Numbers (Like Yours Truly).

Above All, When you master that One Skill, People will take you seriously and you will become more valuable to your Business, Clients, Employers, Customers and your Boss. And Guess What- When you become more valuable, I guarantee you - YOU WILL NEVER HAVE A PROBLEM WITH COMMANDING YOUR WORTH AGAIN.

I challenge you today, to put into practice everything that I have stated above and watch your Earning Power Grow.

At Rosyan Bookkeeping & Accounting Services, We know Our Worth and Our Clients Value us. We know our Specialization and we are Proud to flaunt it. Give Us a Call Today and you'll be Glad you did.

Lowering Your Tax Bill For 2017 ( Day 4)

Posted on December 30, 2016 at 11:22 PM Comments comments (4)
YES, 2017 is just Few Hours away......The Clock is Ticking. We can still chip in One more Challenge to lower Our Tax Bill before the Year Ends. And this is......

 Further Your Education 
Do you know that if you take a Course to advance your Career or build your Business, It can be used as a Tax Deduction? If you are enrolled or taking classes at an eligible educational institution, you might qualify for the Lifetime Learning Credit(LLC).
More so, If you or your Child is already in college or a Trade School, You can get up to $2,500 per student for the Year. So make sure you have paid college expenses before the end of the year to qualify for 2016.

You should be able to claim the credit again next year, if the individual is still a student. In fact, you can claim the credit on up to three students a year, for a total of $7,500 in credits.
Also, If you are done with College and paying Student Loan interest, you can deduct some or all of it, so make sure you are up to date paying off your loans. Either Parents or Students can claim this deduction, depending on the Payments.With this Advice, This is a Great time to enroll in a College or Trade School, so that you can still claim this in subsequent Tax Returns.

Here is wishing you a Happy, Healthy, Prosperous and Tax- Savvy New Year.

Have You Reconciled Your Bank Statements?

Posted on November 3, 2015 at 9:43 AM Comments comments (4)
Have you reconciled your Bank Statements lately? Just a Reminder, We have only a few days left to the end of the Year. Very Soon, It will be Tax Season and you will need to submit your Financial Statements for Tax Filing. Can you confidently say that your Company Accounts are updated and reconciled?

It is very important to reconcile your Bank and Credit Card Statements at the end of every MONTH. A Bank Reconciliation is the balancing of a Company's Cash Account Balance to its Bank Account Balance. It is important to ensure that the Cash Account and Bank Account Balances match. The Main Document used for Bank Reconciliation is the Bank Statement.
There are great benefits in reconciling your Accounts and we will be looking at a few of them today. These Benefits include:

  • Accurate Financials - Financial Statements are more accurate and can be relied upon, when reconciled. 

  • Better Business Decisions - Everyone knows that when your Financials are accurate, you are able to make better decisions for your Business. This ultimately enhances your Business Growth.

  • Better Planning - When Bank Reconciliations are done monthly, you are assured that the entries entered into your Company's Account are all correct, this also gives you a clear view of the checks that you may have issued but has not cleared from your Bank Account. 

  • Eliminating Money Leaks from your Company - The Last Thing you will want for your Business is for your Hard- Earned Money to go down the drain because of a Money Leak in your Business. It is worthy to note that Only Bank Reconciliations will catch Big Money Leaks like A Deposit that was not posted to your Bank Account due to various reasons ranging from Returned items to Bank Errors, Unnecessary Bank Charges, Fraudulent Activities, Double Vendor Charges and Other Common Errors. If your Bank Reconciliations are not done monthly, you could be losing thousands of Dollars in errors, that could have been captured on time.

  • Updated Company Records/Reduced Bookkeeping Charges - The Month of January is a busy time for Accounting Professionals.; it's a period of closing the Year End Reports as well as Tax Preparation Season. Any Business Owner that doesn't have a Bookkeeper presently will definitely spend twice as much to get one, between the months of January - April. Would it not be wise to get a Bookkeeper Now and tidy your Books before the Rush Period?

I have listed a few of what I discovered in my years of engaging Bank Reconciliations for my Clients. For easy assimilation, I will categorize them as Internal and External Observations:

INTERNAL OBSERVATIONS:
1) Pilfering Employees/Employees that steal from the Company.

2) Cash Registers not closed out.

3) Bank Deposits not being timely deposited by the Employees.

4) Cash Advances and Loans taken by Employees are not properly accounted for.

5) Unauthorized Purchases made on the Company's Credit Card.

6) Forged Checks being endorsed and cashed at the Bank.

7) Managers taking Clients to a strip club on the company's Credit Card (Yes, This Happens).

8) Rampant Starbucks purchases on the Company Credit Card.

9) Wrong Recording and Classification of Loan Accounts, Line of Credits and credit Card Accounts.

EXTERNAL OBSERVATIONS :
1) Customers reversing charges, without the knowledge of the Business Owner.

2) Automatic Payments increase by the Bank.

3) Utility Companies like Telephone/Internet Companies billing Clients twice in the same month.

4) Fraudulent Purchases on the Company Credit Card.

5) Match.Com Payments made on the company Credit Card.

6) Unauthorized Withdrawals by the Banks ( Inadvertently claiming the Business Owner authorized it).

7) Bill Payments issued via Bill Pay were not mailed out by the Bank to the vendor issued, hence the business Owner incurs late charges for Non Payment of Bills.

8) Over $3,500 in Annual Bank Fees for Overdrafts/NSF/Late Fees.

We can see that most of these items are charge worthy and I have seen a lot of Business Owners experience One or more of these errors because they don't reconcile their Statements. We need to have internal and external procedures in place to get our accounts reconciled. If you have not been recording your transactions from the beginning of the year and have not reconciled them, the best time to start is NOW. 

Please do not feel that it is a waste of time to reconcile your accounts, you never know, you may have been losing a lot of cash under your nose. Try to take a look at your account today and begin to experience increased Cash flow. If you feel that you don't have time to get to your Bank Reconciliation, Feel Free to Give Us a Call on 202.422.4586. We are always available to help you.

5 Ways to Build Wealth for your Business.

Posted on June 23, 2015 at 4:39 AM Comments comments (5)

Every Business Owner wants to build and acquire wealth for their Business. Every Business owner wants to grow and expand their Business, as well as ensuring that the Business has an intangible value (Goodwill).  Are you Building Wealth for your Business? Do you have steps in place to building wealth for your Business?  There are 5 Basic Rules to follow, when you want to build Wealth for your Business. These Rules have been proven to work, no matter your Company Size and they are as follows:

1) REDUCE YOUR EXPENSES : Every Business Owner must have control over their spending. The Key to reducing your Expense is to ask 2 Pertinent Questions:
 a) How much do you NEED each month to run and maintain your Business?
 b) How much do you ACTUALLY SPEND each month to run and maintain your Business?
As a Business Owner, In order to answer these Questions you will need to have a form of Accounting and Bookkeeping software, such as QuickBooks, to give you an accurate answer. QuickBooks helps to track your income, as well as your expenses, thereby giving you an average total cost for each of your expense for the month. It is advisable for every Business owner to get the QuickBooks software. This is the first step to building wealth for your Business.

2)EXPAND YOUR BUSINESS EARNING CAPABILITY:  It is important for every Business Owner to ensure that there is a consistent supply of Cash flow into the Business. It is a fact, that every Business has opportunities to earn more.  As a Business Owner, you always have to seek for various ways, that your Business can make money for you. There should be various ways to diversify and expand your Business. For instance, An Optometrist Business Owner can see patients and charge for his Services, as well as selling the Eye Wear Frames in his practice, so that his patients can select and buy their frames from the Practice. By this, the Practice makes money from the Services & Examination, as well as Selling of Eye wear Frames. Basically, Earning More is the Simplest Way to build wealth.

3)PAYING OFF YOUR BUSINESS DEBT: Business Debt can be incredibly useful, but most people are not aware of its dangers. Debt is a thief of Income. When a Business is in debt, every extra income, that the Business generates goes towards paying off the Debt, and this eludes the Business Owner into thinking that the Business is not making money. It is a fact, that Business Loans, Credit Cards and Mortgages are powerful financial tools, necessary for any Business to function, but by any means, Always endeavor to pay them off. It is advisable to have a Plan to pay off your Business debt. Remember, that Every Debt paid leaves room for your Business to save more and this is a strategy to amass wealth.

4) INVEST: The quickest ways build wealth is to Invest, therefore, it means that the quickest way to build Business Wealth is to put your Business Money into Investments that earn less than Inflation. The Long term returns from the U.S. Stock Market is right around 7% (Inflation Adjusted). Although, it is not unheard of, to get 12-15%. The real trick is Time in the market, to allow the returns to compound.  Investing your Business Money does not require a fat stack of Bills, to get started. The Key to Investment is Instant Diversification and Instant Exposure to the returns of the market and exceptionally low costs.

5) GET A BOOKKEEPER/ ACCOUNTANT: Let's face it..... Most Business Owners mess up with keeping the Accounting Records for their Business. You can argue with me all you want, but we both know that every single year, when Tax Time rolls around, you run around to look for Bookkeepers/ Accountants. Get to know these facts:
  • Do you know that, every Minute, that you are on QuickBooks, trying to figure it out, is a minute that you are not doing Business stuffs that MAKES you the money?
  • How can you build Wealth when you are wasting your time on what you are not competent on?
  • Do you know that if you don't maintain your Accounting Records, there is a high chance of you facing an IRS Audit?
  • Do you know that an IRS Audit can lead to confiscation of your Assets, as well as placing a Lien on your Bank Accounts and Properties?
 As a matter of fact, Getting a Bookkeeper/ Accountant is the most important way for you to build up your Business Wealth. Make a Decision Today to get a Bookkeeper/ Accountant, who will help you stay on track all year long.

We hope that as a Business Owner, you can implement any and if possible, all of these rules and build wealth for your Business. If you do need help in implementing any of these, We will be happy to help you out. Give US a Call today on 202-422-4586. You will be glad you did.


How to Avoid Online Fraud.

Posted on May 18, 2015 at 11:32 AM Comments comments (7)

The Warmer Weather has finally arrived; soon it will be summer. Most Business Owners let down their guard, let go on Vacations and have Fun. Coincidentally, it's also a time that Online Scammers and Hackers get active and keep their eyes looking for Accounts to hack and tamper the unfortunate company Account Holders.

Our Discussion today focuses on an area that is passionate to my heart. As a matter of fact, I look forward to a day, that every company will be devoid of fraud. Technology has given fraudsters an edge in recent years, and we see a lot of fraudulent activities and online attacks on most Business Account. There are majority of fraudsters out there that are using the basic scams to de-fraud merchants, because there are too many Businesses that are not doing anything to stop them.

The Purpose of this Write-up is to provide information on the various types of Account Frauds that exist and how to prevent these online fraudulent attacks on your Business. The Online Frauds are as follows:

 1) Morphing Fraud (Repeat Offenders): This is common in online customer sales businesses. The Fraudster hits a Single Merchant, multiple times using slightly different data points each time; A Multiple Purchase is made from your Business site within a short time frame with a number of different credit cards. In this Case, All of the Goods will be going to the same location, but all of the other data may change between purchases.

2) Skimming:This is where the Debit/Credit Card Numbers are being accessed in common places like Restaurants, Bars, Hotels, ATMs and Airports. The Fraudsters place fake devices in these locations or sites, where an accomplice or entire staff unknowingly swipes each credit card that is entered. Afterwards, these Numbers are collected and sold.

3) Debit Card Fraud: This occurs when a criminal gains access to your debit card number, to make unauthorized purchases and/or withdraws from your Account. When your Debit Card is used fraudulently, the money is missing from your account instantly. Recently, We had a case of client, whose Company Account was continuously charged an unauthorized amount for 6 months, and the Client innocently thought the charges were for services, he had signed up for, until his account was reviewed and he found out that they were fraudulent online transactions.

4) Identity Fraud: A Case of Identity Theft is being reported every 19 Seconds since  the Year 2001; It occurs when someone's personal information is stolen and a credit card account is opened in the victim's name, without their permission , and charges are made to these account. It is worthy to note that identity fraud does not necessarily occur, when a credit card is simply stolen.  

Having looked at the most common types of Online Fraud, We have listed below the steps to prevent your account from being attacked.

             Avoiding Online Fraud:

  • Cultivate a Habit of Reviewing your Statements: Every Business Owner should regularly check their Bank Statements, Credit Card/PayPal Statements, and keep a lookout for any strange activity. If anything seems out of place, contact customer service immediately and ensure that nothing is wrong. This is how we saved a Client thousands of dollars, which hitherto had been deducted continuously for 6 months from his Business Account.
  • Maintaining a Good Bookkeeping System: When we maintain a good Bookkeeping Record, We are able to quickly detect any fraudulent and suspicious activities, and get them resolved immediately. This also helps us to save on unauthorized expenditures, as well as increasing revenue on the bottom line.
  • Use Separate Email Accounts: This is an important email security tip that seems like a hassle but can prove worthwhile in the long run. It is advisable to have more than one Business Email Account, through which you can log on to your financial information. For many of us, Our Businesses are the gateway to other online accounts. If a company is hacked and someone gains access to your inbox, they are one step closer to everything else.
  • Use Multiple Payment Methods: It is better to split your funds between multiple sources; this can help protect you against losing everything at once. For instance, if you purchase eBay Goods with PayPal and EBay is hacked, only your PayPal Account is at risk. This is not necessarily a catch-all solution, since if you have one credit card, you don't really have a choice but to use that particular card. But, it's a general rule to diversify whenever possible.
  • Don't Save Personal Information: It is best to avoid storing your personal details, like card Numbers on Bill Payment Services. Everyone believes that it's a stress to put it in the information, every time you want to make a payment, but it's also safer.
  • Protect your Computers: Use Firewalls, Anti-virus and Anti-Spyware Software on your computers and keep them updated regularly.
  • Beware of Unsecured WI-Fi Hot Spots: As Individuals and Business Owners, We should be discreet about opening our Bank and other secure information websites in public places. The connections used in these places are mostly insecure. It's fine to check weather, social media but not Bank Accounts and statements in public places, not even when we are using our Hot Spots.
  • Use a Strong Password: This will prevent hackers from right-guessing your password. It is an obvious fact, that Humans get password-lazy, so they re-use their password and use them for multiple accounts. Don't Re-Use your passwords. Most importantly, Passwords are your first line of defense. It is a strong way to protect yourself.

        Finally, it is worthy to note that the most effective way to prevent fraud is to be proactive in the design of your strategy.  It is really scary to consider the damages.

What Strategy have you put in Place to prevent your Personal and Business Account from being attacked? Think about this and Act Immediately. If you need help with setting up a Fraud Resistance Accounting and Bookkeeping Strategy, we are just a Call away. We would love to hear from you.

5 Strategies Of Turning your Profits into "Cash"

Posted on December 8, 2014 at 2:29 PM Comments comments (12)
  
The Holidays are here and it's time to ensure that we have some cash tucked somewhere for the Holiday Shopping, Gifts, Christmas Parties, as well as Year-end Savings.
In our last Newsletter, we uncovered the myth of profits, and learnt that, understanding how transactions occur in our business and its effect on our financial statement is key to managing our profits. Please feel free to refer to our last newsletter for the full details. This Month, We will be looking at 5 strategies of turning our Profits into "Cash":

1 ) Cash is King:
Every company experiences an increase or decrease in Cash availability at any given period; the basic key to turning your profit into "Cash" is what you do, when you have made a Great Sale and received Payments from a Business Windfall. This should be the period to have a Savings or Cash reserve Account, whereby you can set aside a certain percentage of this revenue and discipline yourself, not to meddle with the account. This is called effective Cash Management, and it takes a lot of discipline, but if taken seriously, you will achieve great results.


2) Plug your Cash Leaks:
A lot of Business Owners are surprised about the waste, inefficiency and unchecked spending of precious Cash that should have remained in their Bank Account, if they have been managed effectively. As a Business Owner, it's possible to have been a culprit of any of these acts:

  • How many times have you paid overtime, because of poor scheduling practices or slow work performances?
  • How many times have you purchased unwanted Goods/Items for your inventory, without taking a stock count of what you have?
  • How often have you incurred unnecessary Bank Charges, overdraft item payments, late fees and finance charges?

It's time to take a forensic trip down your Profit & Loss Statement and try to justify every expense line item, I assure ,you there will be a 5 % more profit ,just waiting to find its way to your bottom line.


3) Take Ownership of your Business Account:
A lot of Business owners tend to mingle their personal expenses with their Business Account. Once you indulge in this practice, your financial reports are contaminated and become pretty worthless, especially when it comes to decision making. It's better to take ownership of your Business Account and maintain it, as a separate "entity" from your personal account. This will help you manage your cash flow better, and hence you will able to pay yourself appropriately. After all, this is the reward of being a savvy business owner.

4) Avoid taking on too much Debt:
Too much debt sucks the financial life out of a company. In our last Newsletter, we learnt how Principal Loan payments occur on the Balance Sheet and are funded by your profit; Imagine what happens when your company is overburdened with debt, Chances are that you will use your Cash flow to continually offset the debts, and this causes your company to be cash starved.
The only way to eliminate debt is to put yourself and your company on a 
"strict debt reduction diet". 
If possible, Stop adding further debt to your company; otherwise have a strategy on how to pay off the debt, if you MUST take on further debts.


5) Have a Budget:
A Budget is a blue print of an estimation of revenues and expenses for a given period in the future. A Budget gives financial direction. A Budget keeps you on track and helps you to manage your cash flow. Preparing a Budget makes you disciplined and faithful to keeping your profits. This is the best time to prepare a Budget for your Business towards the upcoming year.

As we approach the New Year, Why don't you try out these practices and watch your Cash flow grow. You will be surprised at how a few dollars will add up in your Bank Account.

Do you need help with creating your Budget for the upcoming year? Are you experiencing problems with recognizing your expense line items and don't understand how your Cash flow operates? Why don't you give us a Call, We will be glad to help you out.

Happy Holidays.

What do you expect your Profit to be this Year?

Posted on October 7, 2014 at 1:17 AM Comments comments (7)


  Profitability is a key driver of financial success in business. The goal of every Business owner should be to make profit and improve their business to make it better.

  If you were having a discussion, one year from today, and looking over your financials, Will you be happy with your financial progress? This question should propel you to take action, about what you expect your profit to be for the year.

  Profit is like a car,that must be driven; it does not drive itself; for you to get a projected profit, you have to be on top of your profit expectations. I have listed some questions, which should stimulate you to focus on an expected profit, as the year is coming to an end:
  • What do you expect your profit (taxable income) to be for this year?
  • Is this level of profitability above-average for your industry?
  • What percent of revenues does your profit represent?
  • Is your expected profit up or down from last year?
  • How much of your profit will be converted into cash this year?
 
  As you go through these questions, you're painting a picture of what your financial success should look like, and this will lead you to action, for an end result. Having a picture requires taking action to actualize your projected expectations. These steps below will help you achieve your financial profit picture, feel free to put them into practice and see the transformation, it brings to your business:

  1)  Have a Target Goal: You need to have a financial goal for your business at the beginning of every year. The Goal can be broken into monthly, quarterly and semi-annual financial targets. It is advisable and easier to have a monthly target.

 2) Monitor your Progress: Once you set your financial goals, you will need to monitor your progress, against your target every month. You can only monitor your progress by examining your monthly financial reports (Profit & Loss/ Balance Sheet Reports). If you have not been preparing your report, this should be a good time to start.

3)  Adjust: At the end of every month, you need to review your target goal against your actual results (financial reports), and decide if you need to make changes, in your business, to achieve your targets. The changes can be in form of reducing an expense category to putting a plan in place for faster accounts receivables process.

 This is the secret to creating your financial success for your business. I challenge you to put these into action and watch your business achieve your desired projected profit.

 Do you need help with interpreting your financial reports? Perhaps you are yet to prepare your financial reports for the year, and don't have an idea of your actual profit; Call us NOW for further consultation and Assistance.

 We will be glad to help you.