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How the new tax laws are impacting recording meals & entertainment expenses

How the new tax laws are impacting recording meals & entertainment expenses

The IRS has plenty of rules regarding deducting expenses from business income; one area that has plenty of rules is entertainment. While buying meals or ...
Boost Your Accounting Know-How With These Terms

Boost Your Accounting Know-How With These Terms

The field of accounting has its own vocabulary, which can sound like a foreign language at times. By learning the following accounting terms, an individual ...
Building a Marketing Budget

Building a Marketing Budget

Every successful company must find a way to sell their services or products. Often, in relationship-based businesses, companies are selling themselves. Companies that don’t have ...
How to staff an accounting team

How to staff an accounting team

When hiring an accounting team, it’s important to first look at the business’s needs. What a company requires from an accounting perspective can vary from ...
Five Common Mistakes to Avoid When Hiring for Your Accounting Department

Five Common Mistakes to Avoid When Hiring for Your Accounting Department

There’s a lot more to accounting than crunching  numbers. It’s a highly complex profession that requires an individual who not only excels at understanding accounting ...
Three Super-Easy Ways to Boost Your Revenue for 2018

Three Super-Easy Ways to Boost Your Revenue for 2018

Every business has a gold mine in its current customer base. But not all business owners remember to mine this gold because they are too ...
When to Hire a CFO

When to Hire a CFO

For some entrepreneurs, it may take years to achieve a sustainable cash flow, while others experience rapid growth and expansion within months. Simply put, the ...
Making Deadlines Can Save You Big Bucks in Your Business

Making Deadlines Can Save You Big Bucks in Your Business

There are a lot of deadlines that come with running a business. In fact, missing some deadlines can have serious financial implications on the health ...
Word of the Year: Pricing

Word of the Year: Pricing

It’s simple. Companies are in business to make money. They do this by: providing a service; producing a product. Many companies struggle with how to ...
Ways to Ring in 2018

Ways to Ring in 2018

The New Year is just around the corner, and while many businesses may be scurrying to wrap up the books for end-of-year, now is the ...
Top 5 Financial Mistakes in Manufacturing – Tips for All Businesses

Top 5 Financial Mistakes in Manufacturing – Tips for All Businesses

By Kurt Dyck, CFO & Business Advisor Lucrum Consulting The average small business manufacturing company produces anywhere from dozens to hundreds of thousands of products ...
Get Ahead on Year-End Tasks

Get Ahead on Year-End Tasks

Year-end is just around the corner, and that means a couple of administrative tasks are necessary to take care of bookkeeping and tax chores. Here ...
Financial Due Diligence Steps to Take When Purchasing a Business

Financial Due Diligence Steps to Take When Purchasing a Business

Buying a business is no simple task. It’s a complex undertaking that includes a multi-step due diligence process to ensure the investment being made is ...
Five Ways to Streamline Your Payroll Process

Five Ways to Streamline Your Payroll Process

For business owners with employees, payroll is a necessary task that can often takes a lot of time.  To make payroll less time-consuming, consider these ...
How performance measurement drives business success

How performance measurement drives business success

All businesses strive to be profitable. However, achieving success can be difficult, especially with multiple lines of business. Selling a high-margin product may seem like ...
Why Businesses Should Consider Outsourcing Bookkeeping

Why Businesses Should Consider Outsourcing Bookkeeping

By Shannon Earnhardt of Lucrum Consulting Bookkeeping is the process of recording all financial transactions within a business and is required in every business regardless ...
Four Ways to Manage Overhead Costs

Four Ways to Manage Overhead Costs

High overhead can strangle the profit out of a business. Companies that struggle to control their unseen, hidden costs such as rent, utilities, office supplies, ...
5 Tactics for Negotiating with Suppliers and Vendors

5 Tactics for Negotiating with Suppliers and Vendors

Successful entrepreneurs understand the importance of building long-term business relationships that can contribute to their bottom line. That’s why many business owners invest their time ...