The Fuel Accounting blog page

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.

You’ve probably heard all the talk about the changes to Capital Gains recently.  It might surprise you to know that 6 weeks after this was announced we still don’t have any legislation wording introduced, so we have NO IDEA how this will actually work – and these new (unknown) rules are supposed to take effect in 3 weeks!  It’s not looking good for business owners at all!

As predicted in my Outlook for 2024, this government is continuing on its trend of asking the rich to pay their “fair share.”  And as business owners, you are considered to be rich, regardless of the evidence!  So, once again, your pockets are getting picked.

No, I’m not making fun of you, nor am I disparaging the visually challenged. I am simply asking if you have a vision for your business. If you don’t have one, you are flying blind. Everyone needs a vision of where they are going. Why? Because if you don’t, where in the heck is your destination? 

Credit cards make paying for things pretty darn convenient. Sometimes a little too convenient. It’s important to manage your spending habits and remember that we are all in this FOR THE PROFIT. That’s right. Profit comes first, not last. One of the core principles of Profit Fist is that debt is bad.

Is it our imagination, or does everything seem to be speeding up? No, it’s not your imagination. It’s real. And the faster the pace, the more stuff comes hurling at us. The more stuff coming at us, the more decisions we must make. And the more decisions we make, the greater the risk that we make a poor decision. So is there a way out of this conundrum?

Xero is a great accounting system. As Platinum Champion Partners we get to work with one of the top rated systems in the world. In this article I’d like to show you how you can FINALLY get rid of all that floating paper you have to deal with. Several years ago, Xero acq…

Having a great relationship with your material vendors and subcontractors is critical, especially as your business transitions and grows over time. Making sure they are paid on time is an important part of maintaining those relationships. So we want to show you how to manage your cash flow using our Profit First Cash Management System (PFCMS).

How often does this happen? You’re running a process that you’ve successfully run a million times, but this time it fails. As kids, we were always told, when approaching a railroad crossing, to STOP, LOOK, and LISTEN. When evaluating the integrity of a process, we think you should do that as well… Under these circumstances, It’s easy to think the process no longer works, and must be changed. And it might be that you’re right. But did you thoroughly check your assumptions?

How many times have you made a decision that seemed to make sense at the time, but in retrospect, turned out to be less than optimal? Many times, it is not your fault.  Leaders become trapped in a conflicting world. They get mountains of input from everywhere; news events, markets, customers, vendors, and even everyone inside the organization.