When Is a Sale a Sale?
When is a sale a sale? When the services are completed and you send an invoice? Okay, that may be when you book the sale in your accounting ledger, true. Consider this… A sale is not a sale until the money hits your bank account. This is not how we do it in accounting...
How is Artificial Intelligence Impacting the World of Accounting?
Artificial Intelligence (AI) is the buzzword in business these days… Will AI replace human accountants? The short answer – no. Why? Because AI cannot flag errors, recode, interpret data correctly all the time, nor communicate with emotional understanding. By the way,...
An Enterprise Suite of Software for a Fraction of the Cost!
Enterprise software is expensive! Think SAP for Fortune 500 companies. Think NetSuite for mid-tier companies doing $100 million plus in sales. At ControllershipPLUS what we have cobbled together is a stunning suite of software that links, communicates, and integrates...
If You Could Track Only One Key Performance Indicator, What Would it Be?
What? Track only ONE Key Performance Indicator? That is like flying a jet plane with, say, a choice of fuel level, altitude, airspeed. Pick one, and good luck. Crazy, right? A business is like a jet airplane in that to hit its target with accuracy it needs more than...
7 Reasons to Switch from Wire Transfers and EFTs to Plooto
We live in a fast-paced digital world, and cheque writing has gone the way of the horse and buggy (sorry to all pen and paper lovers). The fact is that paper cheques, sent in the mail, are significantly more insecure than paying and receiving money online. Physical...
You Say You Have Awesome Service…Does it Show Up on The Phone?
**The following blog is a re-print of one I wrote in early 2019. I believe it is more relevant now than ever.** Every single touch point in your business is an opportunity to wow, or not, your customers… In a competitive business world, (when is it ever not?), often...
How to Use Automation to Speed Up Your Quote/Invoicing Workflows
We use ApprovalMax software for many of our clients to route supplier bills to various Department heads to approve those bills. An audit report with a time stamp gets attached to each bill showing when and who approved each bill. The approved bills are now ready to be...
Critical Ratios You Must Track in Your Business for Success – Part 3
Over the last two weeks I wrote about how the three main financial statements of your business contain five sections as follows: Assets (the things you own) Liabilities (what you owe) Equity (what’s leftover for you) (the above 3 sections are on the Balance Sheet)...
Critical Ratios You Must Track in Your Business for Success – Part 2
Last week I wrote about how the three main financial statements of your business contain five sections as follows: Assets (the things you own) Liabilities (what you owe) Equity (what’s leftover for you) (the above 3 sections are on the Balance Sheet) Revenues (the...
Critical Ratios You Must Track In Your Business For Success
Your monthly financial statements tell you a story….in the language of numbers… Every business has three main financial statements: The Balance Sheet The Income Statement The Statement of Cash Flows The Balance is the main statement. What? Not the Income Statement?...