If you’d like to see a copy of the weekly cash flow report, see the sample document at the end of this feature. The weekly cash flow document is the report that the bookkeeper provides to the contractor every Friday afternoon. An aged receivables and an aged payables accounting are attached to the report. He caught the technician when the aged receivables report didn’t make sense to him.
King warns of the danger of using a signature stamp (in your absence) for checks and online payments.
Learn the proper accounting for journaling negative accounts receivable on your balance sheets.
King stresses the important distinction between sales and revenue.
Using KPIs to streamline and support annual performance reviews and bonuses.
Long-term HVACR Business financial columnist advises how to determine bonuses and profit sharing for employees. Implementing a bonus structure and profit-sharing plan can help employees understand the costs and profits …
