article thumbnail

How Complex Are Your Business Finances?

https://trustedcfosolutions.com/feed/

Use dimension values to capture your business transactions, operational measures, and budgets in General Ledger. Create quotes, sales orders, backorders, invoices, returns, credit memos, debit memos, and more with ease and rapidly deliver them via email. Seamless scaling without adding headcount. Define your own workflows.

Finance 104
article thumbnail

Asked And Answered – Restaurant Chain Accounting Challenges

https://trustedcfosolutions.com/feed/

An accounting solution that fails to deliver real-time insights and has the API capability to connect to various systems and apps that restaurants use can mean that a restaurant fails to increase sales at the right time. This requires the data to determine the impact on sales due to the increasing costs of ingredients. .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

How to Calculate Your Profitability: A Case Study

CFO Simplified

Our client was a printing company located in North Central Illinois with sales of $19,200,000 and a second-generation owner. Manufacturing variances were caused by a variety of factors, but the summary general ledger (GL) postings didn’t provide an answer. . Let’s dive in. The Client. Let’s first set the scene.

article thumbnail

How do I clean up my financial statements?

CFO Share

Too many general ledger (GL) accounts. Too many general ledger accounts. That can lead to “GL diarrhea”: too many ledgers, multi-page P&Ls, and unusable financial statements. Unusable financial statements come from one or many distinct sources. Incorrect costing or no costing.

article thumbnail

How to build a good finance team and why it’s important

CFO Talks

An effective financial team should be able to build frameworks to create “data lakes” for general ledger information, inventory, HR information, sales data and external information. Here’s how you can build one. Look for tech-literate people.

Finance 52
article thumbnail

10 KPIs to Track Business Performance

The Finance Weekly

Accounts Receivable Turnover Ratio Your accounts receivable turnover ratio indicates how efficiently you collect cash from credit sales. Calculation: Net credit sales ÷ average accounts receivable = Accounts Receivable Turnover Ratio 5. Calculation: Days inventory outstanding + Days sales outstanding – Days payable outstanding 9.

article thumbnail

5 Accounting Challenges Startups Face and How to Help Them Thrive

The CFO College

As an accounting professional, you need to set up many processes for efficient data tracking, including: Month-end tie-out system to close out balance sheets, reconcile general ledger accounts, with full tick marks. Managing Taxes and Sales Tax -- Almost every business must file and pay taxes.