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Strategic Business Solutions - Elkton MD Accounting, Bookkeeping, & CFO Services
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The Accounting Toolbox Blog

The Importance of Cash Flow Projections

7/31/2020

 
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As a business owner, you probably already know it’s important to monitor company
profitability.  But something that is also very important, but too often overlooked, is Cash
Flow Management.   Unless you have a large stockpile of cash and/or significant availability on your line of credit with your bank, you should take the time to do Cash Flow Projections.   

Projecting your Cash Flow makes you aware of potential cash shortfalls well in advance so
you can work on obtaining the funds you need to cover the shortfall before it is critical.    
Remember, cash is king.    If you run out of cash, your business will not be able to ​operate
​regardless of what your Profit and Loss statement says. 


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4 Ways Your Small Business Can Benefit From Outsourcing Accounting Services

6/16/2020

 
When making business decisions, do you find yourself scrambling to gather the information you need?     ​This is just one of the many indicators your small business could benefit by outsourcing your accounting tasks. When you don’t have quick access to reliable financial data, you miss valuable opportunities to identify marketplace changes and grow your business.  Discover the benefits of outsourcing your small business accounting.

1. Save Time!
A business owner’s time is valuable! If you’re spending time each week maintaining your books, it takes away from concentrating on your business goals and aspirations. ​The financial tasks of running a business can be time-consuming, confusing, and just plain boring. Outsourcing your accounting will give you peace of mind knowing your books are in order and allow you to concentrate on growing your business.   ​
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Top 5 Accounting Tips for Small Business Owners

5/27/2020

 
Keeping your books up to date is a necessary chore for all businesses. Establishing an organized bookkeeping system will help keep you in tune with the financial aspects of your business. To keep moving toward your long-term goals and improve profits, follow these proven small business accounting tips. 

​1. Keep your records current.    
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There are many reasons this is so important, but the main reason is you do not know where you stand financially If your books are not current.    It is impossible to make wise decisions without accurate, timely information.    Keeping your books up to date ensures that you are equipped with the financial information needed to make the best next steps for your business.    Take the time to do it or outsource to someone who can.

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Bookkeeper vs. Controller vs. CFO

4/30/2020

 
​Bookkeeper, Controller, CFO... how are they different and which one is right for your business?​​

Titles such as Bookkeeper, Controller and Chief Financial Officer (CFO) can get thrown around very loosely in small and medium size businesses.  Below are the general duties of each position and their unique roles within your organization.
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Self Assessment Checklist

7/1/2019

 
Still trying to manage the books yourself? Are you spending too much time each month on your business finances?

Use this self-assessment checklist below to see if maybe it's time to work with a professional accountant. 
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302-824-8565
info@sbsde.com

600 Jackson Hall School Road
Elkton, MD, ​21921

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  • Benefits
  • Services
    • Bookkeeping
    • Part-Time Controller
    • Part-Time CFO
    • Software Implementation
    • Virtual Support
  • About Us
    • Our Strengths
    • Our Staff
    • Testimonials
  • Blog
  • Contact