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Archive for the Profitability Tips Category

Your Daily Numbers

Some numbers need reviewing on a daily basis, and one example of this is cash.  When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to make sure all the collections hit your

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The Best Payment Terms for Faster Cash Flow

A great way to speed up your cash flow is to get paid faster by customers who owe you money.  One way to do that is to examine your payment terms to see if you can accelerate them.  First let’s talk about what payment terms are common. 

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Influencing Your Word-of-Mouth Results

Just about every business relies on “word-of-mouth” marketing to get the vast majority of its clients. If this is true for your business, then it just makes sense to figure out how to boost your referrals from all sources. Referrals are almost always easier to sell and

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Five Ways to Streamline Data Entry

Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate data entry so that it no longer

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How Understanding Assets vs. Expenses Can Make You Rich

Assets and expenses both have a “debit” balance on the financial statements, but that’s where their similarities end. Spending on one can make you rich and spending too much on the other can leave you broke. An expense is money you may need to spend, but after

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Is Your Business Using the Right Accounting System?

Have you ever tried on a shirt or jeans and found they didn’t fit at all?  They looked great on the hangar, but that was the end of it.  Accounting systems come in all sizes, shapes, and colors just like clothing; and just like clothing, some accounting

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Optimize Your Revenue Mix for More Profits in 2014

Many small business owners focus on generating more revenue every year, and that’s a great objective.  But not all revenue is created equally.  If you sell more than one product or service in your business, then you can benefit from looking at your revenue mix. Although it’s

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Avoid the Three Biggest Sales Mistakes and Close More Business

Every sales lead is precious.  It takes a lot to get people’s attention these days, and once a lead or prospect comes in your door, you’ve accomplished that hurdle, but now you have another one:  getting the business.  To ensure you can turn those prospects into paying

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Five Fall Projects to Refresh Your Financial Results

As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach the year’s end in better shape.  Here are five ideas:  1.      Back-to-School Time If payroll expenses

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Do You Know Your Small Business Vitals?

On a doctor’s visit, the first thing the nurse does is take your vitals:  your temperature, blood pressure, pulse rate, and respiration rate.  These basic measurements are the first place doctors look to see if something is wrong with our health. Knowing your vital signs, and especially

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RKNY Bookkeeping & Consulting

51 Wellsboro Road, Valley Stream, NY 11580

516-256-3238 | 866-299-6689

ray@rknybookkeeping.com

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