Sat Oct 10, 2020 | Alan Lefkowitz | Business, Cash Management
Many business owners receive a monthly or quarterly balance sheet but do not frequently analyze it or know what to look for. Many owners do not understand why the balance sheet is essential. Sometimes companies pay someone to prepare a balance sheet, and it’s another item that just sits in their inbox.
Tue Sep 22, 2020 | Alan Lefkowitz | Business, Cash Management, CFO Services, Financial Controller Services, Financial Reporting
No matter how brilliant an entrepreneur or business owner might be when running their business, without a good plan to maintain their company’s financial well-being, it will be difficult for their business to thrive. Regardless of industry or sector, we hear many of the same pain points that keep owners awake at night. The most successful businesses, just like people, form habits that lead to their ultimate success. Here are the top 5 action steps successful companies implement for financial success and prevent financial pitfalls.
Wed Sep 16, 2020 | Alan Lefkowitz | Bookkeeping Services, CFO Services, Virtual Accounting Services
Most companies invest significantly in bookkeeping and accounting within their operation. Keeping correct records is critical to making wise business decisions and knowing where your company is at any given point. Yet, hiring and maintaining an accountant within your business is costly and may not always be the best choice. Virtual accounting and CFO services can be an excellent option for many organizations.
Wed Sep 16, 2020 | Alan Lefkowitz | Bookkeeping Services, CFO Services, Financial Controller Services, Virtual Accounting Services
The value of investing in virtual business accounting changes from one organization to the next. In nearly all situations, companies can benefit from making the switch to this more advanced, more hands-on form of accounting and financial management. If your company hired a bookkeeper or is managing the books independently, it may be beneficial to make the switch. The benefits that come from professional services like this are outstanding.
Wed Aug 26, 2020 | Alan Lefkowitz | Business, Cash Management, CFO Services
Although the pandemic is not over yet, and many businesses are still shut down or only operating at a limited capacity, it’s essential to start planning now to get your business back up and running in new and changing environments. Here are 3 tips to help your business back on the road to recovery.
Thu Aug 6, 2020 | Alan Lefkowitz | Contingency Planning
What would happen to your business if a key person quit or was out of the office for an extended time? Would your company be able to receive cash from customers and deposit them in the bank? Would you be able to prepare critical financial reports for your bank? How do vendors get paid if the check signor cannot sign the checks? Do you have a second check signer?
Sat Jun 6, 2020 | Alan Lefkowitz | Cash Management
When it comes to business, cash flow is king. The money you have at your disposal at any given time, without the burden of debt, is frequently what makes the difference between success and failure. Here are 10 cash management strategies that you probably didn’t even know existed:
Wed May 6, 2020 | Alan Lefkowitz | CFO Services, Financial Controller Services
Chief Financial Officer (CFO) Chief Financial Officer (CFO) is a strategic partner to the CEO and Senior Management, charged with financial responsibility for the whole company. Key CFO Responsibilities: Total fiscal oversight Financial analysis and forecasting Cash flow forecasting Strategic planning Risk Management, including insurance coverage Develops tax strategies Manages relationships with banks and auditors Develops company performance measures Capital management
Tue Apr 14, 2020 | Alan Lefkowitz | Financial Reporting
As I’m meeting different business owners, there is a difference between the businesses that are thriving and the businesses that are struggling. The common theme in struggling businesses is that they are not receiving monthly financial reporting.
Mon Apr 6, 2020 | Alan Lefkowitz | CFO Services
No matter what size, your company can benefit from the services of a Chief Financial Officer (CFO). A CFO helps your firm organize its finances, and track performance. His (or her) job is different from that of an accountant who often only concerns himself (or herself) with the taxes, and sometimes the payroll.