It is the goal of every business - to be profitable. But, how do you truly know the profitability of your small business?
With incoming revenue and outgoing expenses, it is easy to get lost in the numbers.
While no single metric should be used to determine profitability of a business, small business accountants can use net profit margin to gain an insight into the success of your business.
Let’s discuss the importance of this metric and review the differing factors that contribute to the calculation of net profit margin between product-based businesses and service-based businesses.Continue Reading
Yeah, It's accounts payable day! Who doesn't love paying the bills?! Forgive my over exuberance, but we're outsourced accountants after all and this kind of stuff gets us juiced. Hey don't judge, everyone has their thing.
If you're thinking about hiring an outsourced accounting firm to manage your books, but you're nervous about how they'll keep your bills paid, have no fear. This blog post will walk you through the in's and out's of doing it successfully.
Here at Ignite Spot we believe that accountants can change the world. Skeptical? You should probably meet one of our best: Dan Luthi. He'll rock your small business and whip you into profitable in no time--so you can get busy changing the world.
Why? I sat down with Dan to find out what makes him so good at what he does. Here's what makes Dan so passionate about outsourced accounting:Continue Reading
He says stuff like, "Yeah, I knew that stock was going to triple. It was so obvious." Or "Man, I knew she was going to dump you. She had that look about her." Whenever Mr. Hindsight opens his mouth, you usually find yourself rolling your eyes.
Commenting on things that took place in the past is easy to do, and doesn't add much value. Many accountants do just that. They provide a reactive service. But what if you could get a proactive service? Continue Reading
So you're thinking about outsourcing?! Good for you. It's a great way to save money and improve your operations. It's not for everyone though. To help you learn more about the benefits of outsourcing, we've put together this infographic for you. At Ignite Spot, we're the outsourced accounting department for over 500 companies. Over the years, we've learned all about the benefits of outsourcing as well as some of the pitfalls.Continue Reading
If you’re a business owner, I’m sure you've waited by the mailbox many an afternoon praying for that check to show up from a late paying customer. Being a cash strapped business is no fun, and today we going to walk you through the Ignite Spot Invoicing System so that you can get things organized and get paid faster.
This article is hands on. As you read it, make the changes in your business.