finances Archives

Finance

How to Measure Gross Profit for Construction Businesses

"Our construction company has commercial and residential clients. Commercial projects last longer and use up more resources. Forecasting profits can be a real challenge. Can you help?" Forecasting gross profit can be challenging, but there's an easy way to do...

Finance

Protecting your business from risky clients

We just got clobbered by a risky client who went under, taking our receivables with them. We’ve gone from having tons of money in the bank to being very thin. Since this was a sizable account, it’s going to be...

Successful business Dealmaking in Business

Human Resources

Employee Compensation Strategy

We have an employee compensation issue that keeps stretching our strategy limits. Asks for reimbursement of expenses that we don’t usually reimburse. Frequently requests salary increases. Asks for special favors regularly. Tends to take it personally, as if we're not...

Finance

Credit line is up for renewal

"Our credit line is up for renewal and our bank is dragging its feet. I’m concerned we may not get our line renewed and without it, we’re sunk. Any suggestions?" A plan to manage debt is a key component...

Finance

Weighing in on mid-year bonuses

"Things are looking up. Right after we get through June, I want to give my employees a mid-year bonus. We didn't give raises or bonuses last year. We are now doing much better and I want to show them...

Getting a Handle on Business accurate Financial reporting

Finance

Mark up or gross margin? Which is better?

"What's the difference between markup and gross margin? Which is better to use? I was told our gross margin percentage is much smaller than our mark up percentage. That disturbed me as I thought they were pretty much the...

Finance

Cash-flow crunches in construction

"We're in construction and cash flow is really stretched, making it so much harder to run the business and stay positive about what we're trying to accomplish. I'm tired of playing this game over and over, year after year."...

What to Do When Customers Won't Pay Their Bill

Finance

Billing for accounts receivable

"Clients are going past due. Our standard billing terms are 30 days. We have a clause in our contracts that we can bill interest at 30 days, but we've never done that. What do you suggest we do to...

Finance

Planning to thrive

"I want to be extra careful with the company's money this year. What are some mistakes I could make and how do I avoid them?" This year there will be less room for error, and fewer outside ways to bail...

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