🎃 Happy Halloween 🎃
This is our second edition - the first “full” edition - of our Tactical Accounting newsletter. This month’s newsletter contains all of the tactics we shared last month - summarized in one place.
Select ONE tactic this month to implement! Small, steady improvements build lasting results.
In this month’s edition, we have tactics from our Be More Profitable, Manage Costs Effectively and Collect Cash Faster playbooks. Our playbooks are designed to support our P-R-O-F-I-T approach to outsourced accounting.
Think Fixed versus Variable
Break out your costs into fixed and variable buckets to forecast and goal-seek more easily. Your accountants should be flexible, using both GAAP and management accounting data to guide decisions.
Always Invoice Faster
Are you invoicing on time or is it a struggle? Late invoicing hurts cash management. Scalable businesses automate invoicing. Have you built the systems to scale?
Low Margin Products Can Be Good?
Not all low-margin products or services are bad (they probably are). Know your margins by product or product line and make sure what your selling is intentional.
Contractor or Employee?
Contractor or employee? Misclassification can be costly. Run classification tests regularly to ensure everyone is properly categorized and stay compliant.
That’s it for this month.
Short and sweet.⚡🎯
Just quick tips and tactics that help you build a stronger business.
Learn more about Basis 365 Accounting and our tactical playbooks developed from our P-R-O-F-I-T approach™.