Skip to content

Patrick Accounting Blog

What Type of Bank Account Should You Have?

By Matt Patrick / April 1, 2021 / Comments Off on What Type of Bank Account Should You Have?

We get this question all the time from new clients and new business owners.  “What bank account should I open?” We also get this question “I feel like it’s a good idea to have accounts at multiple banks.” The answers are “it depends” which is the typical accounting answer, but I believe there are a…

Read More

Why Talking to Your Accountant About Your Purchases, Even Before You Make Them, is a Big Deal.

By Matt Patrick / March 18, 2021 / Comments Off on Why Talking to Your Accountant About Your Purchases, Even Before You Make Them, is a Big Deal.

I have had this happen “a couple of times” throughout my career where we have found that our clients have gone out and purchased a piece of equipment, a new car, traded a car off, or spent corporate money for the benefit of a shareholder or even bought into another business with company money. As…

Read More

What Your Accountant Wishes You Knew

By Matt Patrick / March 4, 2021 / Comments Off on What Your Accountant Wishes You Knew

Our goal as an accounting firm has always been to help our business owners make more money and keep more of it. We desire to give you the insight you need to run an awesome business, and we do this by providing both systems and insights so that your back office support (us) is a…

Read More

Your Financial Partner Through Tough Decisions

By Matt Patrick / March 18, 2020 / Comments Off on Your Financial Partner Through Tough Decisions

Through the uncertainties you are facing, we at Patrick Accounting and Whirks strive to be a guiding light, a sounding board, and a friend. We know you have tough decisions to make that will impact your team and your business. Here are some of the actions we are taking to help our clients, who are…

Read More

What to Do When Tax Season Isn’t What You Expected

By Matt Patrick / May 14, 2019 / Comments Off on What to Do When Tax Season Isn’t What You Expected

We’ve all had the experience in school of walking out of an exam feeling woefully under-prepared and thinking… “Well, that’s definitely not what I expected.” But when you are running a small business and you walk out of your accountant’s office saying the same thing about your taxes, there’s a problem. Your taxes should not…

Read More

Our Taxes are HOW Much? (and other things you should never have to say to your accountant)

By Matt Patrick / April 18, 2019 / Comments Off on Our Taxes are HOW Much? (and other things you should never have to say to your accountant)

We are hitting pause on our regularly scheduled programming to do a post-tax-season pulse check. Do any (or all) of these statements describe how you are feeling now that tax season has ended? “How in the world am I going to make payroll this month, write the huge check I owe for taxes, AND pay…

Read More

What’s The Difference Between Gross Profit and Net Profit and Why Does It Matter?

By Matt Patrick / February 12, 2019 / Comments Off on What’s The Difference Between Gross Profit and Net Profit and Why Does It Matter?

Some accounting jargon can be confusing. I am an accountant and most of the time I understand what someone is asking, but for a normal business owner it might as well be Latin or jibberish.  Our job is to convert accounting-ease to plain English. You know so you can actually understand what we are trying…

Read More

How To Make More Money (And Not Feel Guilty About It)

By Matt Patrick / February 5, 2019 / Comments Off on How To Make More Money (And Not Feel Guilty About It)

I learned a painful lesson the first three years after starting Patrick Accounting. My revenue was going up significantly; however, I made the same amount of money in my third year as I did in my first year. If you are like most business owners, part of the appeal of starting and running your own…

Read More

You Must Focus on This if You Want Your Business to Succeed

By Matt Patrick / January 16, 2019 / Comments Off on You Must Focus on This if You Want Your Business to Succeed

Do you love profit? We do. And not in a shallow, superficial kind of way. We love profit because of what it means and what it can accomplish for business owners. 1. Profit is a reliable indicator of your business’ health. We all have different reasons for starting businesses. I started Patrick Accounting because I…

Read More

3 Reasons to Read Profit First by Mike Michalowicz

By Matt Patrick / January 9, 2019 / Comments Off on 3 Reasons to Read Profit First by Mike Michalowicz

Occasionally you find something that feels revolutionary. Something that changes your perspective and opens your eyes to new possibilities. Profit First proved to be one of those experiences for me. Accounting has been done a certain way for a very long time, the basis of such is a simple formula: sales – expenses = profit.…

Read More

Archives

Scroll To Top