Posts Tagged ‘payroll’

Be Willing to Take a Time Out

Although we sometimes act like we can continue endlessly, everyone needs a break at some point. If we recognize that and embrace it there are some benefits.

Rest to Recover

When we are willing to take a time out we are able to get the rest needed to recover from making a concerted effort to achieve our goals. Some people think a dedicated worker is one who regularly puts in 50, 60, 70 or 80 hours per week. Baloney! That is not dedicated, but rather it is foolish. There are crunch times when we do have to go long hours Read the rest of this entry »

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Confidential Information

How we designate information as confidential and maintain this confidentiality is often overlooked. Yet confidential information needs two things: accessibility to those who need it and protection from those who don’t.

What Needs to Be Confidential?

I suggest that we work backwards in this process. That is, start with Read the rest of this entry »

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Part-Time CFO and Financial Vision

It is very common that resources of a small company are stretched. As a result, things like good financial information get overlooked. Too often this neglect leads to unnecessary pain. But there is a solution that is effective and affordable. The underlying issue is one of having the Read the rest of this entry »

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Employees and Sales Efficiency

Do you wonder if there is a way to measure if your sales justify your employee head count and payroll expense? Here are two ways and some refinements.

Payroll to Sales

Payroll to sales is a percentage calculated as:

Payroll to Sales Percentage = (Payroll Expenses / Sales) * 100

The lower this percentage, the more it appears you are getting a good return in sales for what you spend on payroll. Of course there are some other things to consider, such as: Read the rest of this entry »

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Some Key Financial Indicators

If you are attempting to manage a business you must have timely and meaningful financial indicators. Many companies do this with some sort of financial dashboard, but whatever your method, here are a few things to be on top of.

Some Balance Sheet Data

Keep up with some key balance sheet data. This should be done at a minimum monthly, but preferably weekly or even daily, depending on the particular piece of information. Here are some of the key financial indicators to track: Read the rest of this entry »

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Income Statement Snapshot

When you read your Income Statement (Profit and Loss Statement) what is your process? Do you just look to see if you made a profit? Try digging a little deeper.

The Big Picture

In the post Balance Sheet | A Different Look we took a look at how we first examine a balance sheet from an overall perspective, much like we look at a family photo. As this is done certain items will Read the rest of this entry »

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5 Reasons to Keep Accounting Current

Accounting is one of those areas that can get put on the back burner. That can be a very serious mistake. This posting is highly relevant to start-ups, but applies more to some small businesses that have existed for a long time than you might imagine. Although there are certainly more than five reasons to keep accounting current, here are five that I believe are critical.

Legal Obligations

You will undoubtedly need correct financial information to have Read the rest of this entry »

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Creativity | Vital to Your Business

As you have undoubtedly heard, the world has gone through periods known as the Agricultural Age, the Industrial Age, and the Information Age. Both the industrial age and the Information Age were driven by advances in ways to accomplish work. Additionally, each also made certain abilities and skills highly valuable and others became less valuable. Now we are told that a new age is upon us – the Age of Creativity.

The Driving Force

In a nutshell, one of the key driving forces for the Age of Creativity is the ability to Read the rest of this entry »

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When 40 Hours is Enough

I recently read and article by Jessica Stillman in Inc. magazine entitled, Why Working More Than 40 Hours a Week is Useless. A link to the article was posted to Linked In. Let me just say up front that I agree with her general consensus on the 40 workweek which is based on multiple studies from the 1930s forward. I would like to add a few additional things to consider. Read the rest of this entry »

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Payroll – Avoid the Pain

You’ve probably heard someone say about a task they needed to do, “I’d rather have a root canal.” Unfortunately, for many companies that is how the payroll process is viewed. It doesn’t have to be that way.

A Critical Question

Why are you in business? Unless you are a payroll company, it is doubtful you said, “We’re in business to process payroll.” No, in fact payroll is probably viewed as Read the rest of this entry »

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