Tag Archive : budgeting advice

Dear CFO, The business I run needs an infusion of cash. I asked my controller to analyze the best way to obtain it and he referred me to you. I run a growing small business and in my budget for next year, I am projecting a need for capital to support sales growth and product…

Putting together a chart of accounts is the necessary first step for any organization to create an efficient accounting system. Charts of accounts are useful for keeping data organized and tracking expenses for the company. However, not all businesses understand what a well-designed chart of accounts looks like. Here are useful tips for setting up…

Dear CFO: My business earned a profit for the last two years, but we still can’t pay the bills. How did this happen and what should we do?  Vendors are calling in Chicago You aren’t the first person to ask this question or run into this situation. It’s a common misconception among beginning business owners:…

Dear CFO: I know I need to understand my costs, but my accountant tells me my manufacturing overhead is out of line, “SG&A” needs to be controlled, and my prices are too low.  I’m not sure I understand what she is talking about. What is SG&A? How do I lower my manufacturing overhead? Trying to…

Dear CFO: My banker tells me I need a budget. But I know how to run my small business. Budgeting sounds like a waste of time to me. What would I gain by budgeting in Portland? This is certainly a common complaint and not just from small business owners, but from employees of large corporations…

Dear CFO: As a small business owner, I know (and my bank advised me) I need a budget. I’m overwhelmed and don’t know how to begin.  What do I need to do to create a successful budget for my business? Confused about budgeting basics in Phoenix. It’s certainly best practice to create and follow a…