The Fuel Accounting blog page
Is Your Business a Gambling Machine?
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.
Do you have a vision problem?
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.
Managing Account Payables: Plooto, Payment Evolution, Relay!
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?
Are we having fun yet? Well, maybe…
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.
Did you follow the recipe?
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.
Why talk About Supply Chains?
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…
How do I handle Overdrafts or a Line of Credit in Profit First?
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.
Summer Slump?
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!).
Will Interest Rates Be Going Down?
Janet Yellin, our US Treasury Secretary, has once again delayed lowering interest rates. And with good reason. Inflation is still too high. And as I’m sure you know, lowering interest rates has an inflationary effect on the economy.
Do You Hear Something Dripping?
Ok, has this guy gone off his rocker? Now he’s asking me if I hear dripping? Yes, I am asking that. But let me explain: We have run into situations where our clients have periods of high revenue, followed by periods of lower revenue.
