Accounting

Cash Is King

In a previous article I talked about business numbers and the critical difference between cash and profits. This article looks at how to plan for cash in a business plan, understanding the critical elements that affect cash flow. You don’t want to be one of those businesses that goes broke even while producing profits. Basic...

By Tim Berry |

Estimating Unknown Expenses

How do you estimate specific costs for a new business? How do you predict expenses? Normally you need some experience. If you have no idea, then you might think again about starting this business. Maybe your team should add somebody who does have experience, and can make estimates. Here is why. In the real world,...

By Tim Berry |

Hating Accounting Software: Deal With It

Running your own business means keeping track of the money. You hire somebody or you do it yourself. You have to pay taxes, so you have to have records. The mythical pile of papers in a box is romantic, cute perhaps, but really dumb if you’re building a business. Not keeping track of every business...

By Tim Berry |

Debits and Credits

You don’t have to know debits and credits to do a business plan. As I say elsewhere, planning is not accounting. You don’t need to be an MBA or CPA to develop business plan financials. You need to be able to make reasonable assumptions and follow the financials, preferably using Business Plan Pro software. Still,...

By Tim Berry |

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