Break down the parts of your balance sheet to simplify and differentiate your assets, liabilities, and equity and steer your small business toward financial success.Â
Read MoreLike a number of our clients, we are a service-based business. Our ability to be profitable is based on our knowledge and technology, but most importantly, is tied to our team or labor costs. Almost all service-based businesses fall into this category. Labor costs are the most critical and highest expenses we incur, and are…
Read MoreJoshua Chamberlain is quite possibly the one man responsible for the U.S. winning WWII. This is impressive considering that he fought in the Civil War. Chamberlain was a college professor in Maine who volunteered to join the Union Army during the Civil War. He is best known for a single moment of action at the…
Read MoreYou 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,…
Read MoreIn 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…
Read MoreHere 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…
Read MoreThe 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)…
Read MoreA 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.…
Read MoreSome 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 MoreI 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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