The Fuel Accounting blog page

Are you running out of money before you run out of month in your Operating Expense (OPEX) account? If this is not a one-off thing, you need to make some sort of adjustment so your Profit First Cash Management System (PFCMS) is functioning properly.

In the fast-paced world of digital marketing, staying ahead of the competition can be a challenge, especially for small businesses with limited resources. That’s where AI-powered marketing tools come in. These tools are revolutionizing how small businesses approach marketing, making it easier, faster, and more cost-effective to reach the right audience and achieve better results.

I remember one time we were traveling through Las Vegas. When we checked in, the hotel we were staying at gave us each a roll of coins for the slot machines. I’ve never been much interested in gambling so I just fed my coins into the slot machine, and soon they were gone.

No, I’m not asking about your last visit to the eye doctor, silly. But I do want to talk about your vision. Last month we talked about the power of a mission statement. That is your “WHY.” Understanding why you do what you do creates purpose and passion.

Getting your bills into the accounting system is only half of the task when it comes to managing Accounts Payable.  We use Hubdoc or Dext for most clients in this respect. But paying the bills is the second step.  Did you know that there are also some great tools available to help you here? 

Everyone knows who the Gallup organization is, right? You remember those “Gallop Polls?” Well, according to their State of the Global Workplace Report, employee engagement has been taking a hit the last couple of years.

No, this is not a culinary article per se. But will you allow me to use it as a metaphor for business processes? Let’s talk about recipes. My wife and I recently watched this culinary show on TV where Stanley Tucci had traveled to Italy and visited a restaurant that made this amazing dish called Cacio e Pepe.

How often have you found yourself waiting for something you ordered to arrive? How often has something you wanted in the store been out of stock? Wrong size? Wrong color, etc? Does that happen too often?? Yea, I thought so…

Banks love to get businesses to use Overdrafts and Lines of Credit.  Short of credit card lending, this is very lucrative for banks, but it traps business owners into easy debt that is hard to get out of.

What are you doing during the “Summer Slump?” For businesses in the hospitality, construction or painting industries it is the busiest time of year, but for many others it is quiet. If you’re in that second category – don’t squander that time (please note: spending time with family and regenerating is not squandering – but don’t get used to it!).