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Patrick Accounting Blog

New Year Forecasting

By Reba DeVore / November 24, 2020 / Comments Off on New Year Forecasting

Raise a glass (and a budget worksheet) to 2021! Join our webinar December 4 at 11 a.m. CST for in-depth budgeting tips and new year forecasting for 2021. For now, here’s a brief overview of best practices for getting ready for the new year. What are some things to think about to position yourself in…

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What if your accountant could help you make your business more profitable?

By Matt Patrick / March 26, 2019 / Comments Off on What if your accountant could help you make your business more profitable?

You don’t have to look far to find people who fail to meet expectations. (Just Google “you had one job” or head over to hadonejob.com for a long list of hilarious examples…after you finish reading this post, of course!) Fortunately, most of the world is populated by dependable people who get up, go to work,…

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Why You Shouldn’t Attempt Profit First Alone

By Matt Patrick / March 19, 2019 / Comments Off on Why You Shouldn’t Attempt Profit First Alone

In 1933, a Detroit radio station introduced a man who quickly captivated the hearts and minds of millions of people around the world. Before long, he was the star of a regular radio show, books, television, movies, and even comic books. And he did it all without ever really telling anyone who he was…or fully…

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Everything You Ever Wanted to Know About Profit (and then some!)

By Matt Patrick / March 14, 2019 / Comments Off on Everything You Ever Wanted to Know About Profit (and then some!)

In last week’s post, I gave five reasons why small business owners should consider implementing a revolutionary, counter-intuitive accounting method called “Profit First.” (ICYMI, here’s another post I did on it last year too.) I realize that last week was a 30,000 foot view of the idea, so you probably have a lot of questions…and…

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Five Reasons You Should Implement Profit First for Your Business

By Matt Patrick / March 7, 2019 / Comments Off on Five Reasons You Should Implement Profit First for Your Business

Here in the South, it’s not unusual for someone’s famous last words to be: “Hey, y’all! Watch this!” More than likely, someone responded with, “I wouldn’t do that if I were you.” Have you ever gotten a really great piece of advice from a friend—that you proceeded to totally ignore? Have you regretted it ever…

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This One Thing Makes You Lose the Profitability Battle

By Matt Patrick / February 26, 2019 / Comments Off on This One Thing Makes You Lose the Profitability Battle

The D-Day landings simply had to succeed. Germany was rolling across Europe unopposed, and Allied troops landing at the Normandy beach front was the only hope of stopping the most brutal dictator the world had ever known. Today, we breathe a sigh of relief knowing the outcome of WWII. However, D-Day (and possibly the war)…

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What Should I Do With My Profit?

By Matt Patrick / February 19, 2019 / Comments Off on What Should I Do With My Profit?

A couple of weeks ago, I wrote about “How Your Bookkeeper Can Help Your Small Business Be More Profitable.” I firmly believe that if you’ll put the concepts we teach at Patrick Accounting into practice and continue to get better one step at a time, you will see your business becoming more and more profitable.…

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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…

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How Your Bookkeeper Can Help Your Small Business Be More Profitable

By Matt Patrick / February 6, 2019 / Comments Off on How Your Bookkeeper Can Help Your Small Business Be More Profitable

This past Sunday, millions of people tuned in around the world to watch Super Bowl LIII. By now, it shouldn’t be a spoiler to let you know that the Patriots won (again), and quarterback Tom Brady will soon be fitted for ring number six. I like to say one for his other middle finger. Even…

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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…

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