How to Read Your Balance Sheet

Posted on 10. Sep, 2014 by in Small Business Tips, VirtualConnections Newsletter

By Linda Siniscal The Balance Sheet is an important report in your business’s financial statements.  Most small business owners are unsure of what all of the numbers mean on this report, so let’s see if we can shed some light on what they mean. A Summary of Balances One big characteristic of a balance sheet [...]

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Avoid These Common Financial Mistakes

Posted on 08. Jan, 2014 by in VirtualConnections Newsletter

Throughout life there are many ways to achieve financial success. Some of that success can be achieved by avoiding these common financial mistakes. Under-insuring your property. Often policy owners hold an insurance policy for 10 years or more and never conduct a review to ensure their coverage is still adequate. This is made more complicated [...]

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Payroll 2014 Update: State Minimum Hourly Wage Changes

Posted on 30. Dec, 2013 by in Website Resource

As of January 1, 2014, the following states have changes to their state minimum hourly wage rates so be sure you have your records updated before you prepare your first payroll of 2014. Arizona to $7.90 for non-tipped employees and $4.90 for tipped employees California to $9.00 for all employees (effective date is July 1, [...]

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Five Fall Projects to Refresh Your Financial Results

Posted on 30. Oct, 2013 by in VirtualConnections Newsletter

As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach the year’s end in better shape.  Here are five ideas:  1.     Back-to-School Time If payroll expenses are one of the higher costs in your [...]

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Budgeting Breakthrough

Posted on 08. Oct, 2013 by in VirtualConnections Newsletter

When you hear the word “budget,” what do you think about?  Most people would say something similar to “Ugghh!” If you would rather do just about anything besides create a budget, you’re not alone.  The word “budget” brings up connotations of endless numbers, constraints, the opposite of freedom and creativity, and hard work, none of [...]

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Planning for an Awesome 2013

Posted on 03. Jan, 2013 by in Misc. Articles, VirtualConnections Newsletter

For businesses with fiscal years that coincide with the calendar year, the slate of revenues and expenses will be wiped clean on New Year’s Day.  Starting with a clean slate gives us a chance to reflect on our 2012 results before we enter 2013 and experience the hope that comes with a new year. Hindsight [...]

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Create a Financial Plan with a Built in Cash Cushion

Posted on 01. Nov, 2012 by in Misc. Articles, VirtualConnections Newsletter

Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months’ worth of income saved in the bank. If you’re a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars can be overwhelming. What may be a well-advised idea [...]

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Do You Know the Lifetime Value of Your Client?

Posted on 19. Jun, 2012 by in Misc. Articles, VirtualConnections Newsletter

How much is the average client worth to your business?  Not just per project or even per year, but for the lifetime of your business.  Calculating the lifetime value of a client is an eye-opening exercise I recommend to every small business owner. Repeat business Let’s take several examples.  A client who eats a $15 [...]

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THSS LinkedIn Group Site Launch: Your VirtualConnection for Small Business Financial Issues

Posted on 14. Feb, 2012 by in VirtualConnections Newsletter, Website Resource

2012 will be bringing some changes to Third Hand Secretarial Service LLC. I have established a sister company, Third Hand Bookkeeping Service focusing entirely on bookkeeping services. As you know, I am a Certified Bookkeeper with the AIPB as well as a QuickBooks Certified ProAdvisor. Bookkeeping is my true passion and what I so enjoy [...]

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Budgeting Made Simple for the Small Business Entrepreneur

Posted on 11. Jan, 2011 by in Misc. Articles

Most of us came from the corporate world where working with budgets was an everyday occurrence. So now you are the one in charge and budgeting is the last thing on your mind for your business. Budgeting is just as important to the small business owner as it is to major corporations. It helps control [...]

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