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How to Read a Nonprofit Statement of Activities
The non-profit statement of activities reads much like an Income Statement in for-profit organizations.
Instead of breaking down the activities into Revenue, Cost of Sales, General and Administrative Expenses, and Other Income and Expenses, the non-profit statement breaks down income …
How We’re Turning Small Business Accounting on Its Head
Only one in 20 small businesses has accurate financial statements.
That makes up only five percent of businesses. Almost half of all small businesses experience some kind of accounting theft at their company, which costs them an average of about …
Plan B – Preparing for the unexpected
Guide: Is Outsourcing Right for Your Nonprofit?
Nonprofit executives must wear many hats. Not only are they responsible for fundraising to advance their organizational mission, but they may also be responsible for strategic planning, board communications, human resources, and recruiting, among other things.
More so than ever …
Selling Your Business? What You Need to Know Before You Start
Selling your business can be a cumbersome task. Where do you even start?
Most business owners are experienced at running a business, often very successfully. However, selling a business is usually not something most business owners have a great deal …
Small Business Taxes and the Trap you Need to Avoid
There’s a small business tax trap that many owners fall prey to. The IRS requires you to make quarterly estimated payments of your tax liability. Most of us small business owners either underpay the tax rate or not even pay …
Why Accounting Matters for Your Business
This is an article about our CEO, Matt Garrett’s presentation to Vistage. You can view the original article on the Vistage Website.
As the COVID-19 pandemic continues to worsen, finance experts say the global economy is spiraling towards a recession …
Data-driven Fundraising Ideas for Nonprofit Organizations
TGG recently hosted a roundtable on nonprofit fundraising. We invited our clients and other nonprofits in the community to discuss strategies for increasing donations, expanding their donor base, and appealing to millennial donors.
The forum was moderated by Steve Goldstein, …
Cash vs Accrual Accounting
Cash accounting and accrual accounting are two concepts that are foreign to most people, but it’s important to understand the difference. As a business owner, if you manage your books on a cash basis, you will ultimately fool yourself. Why …
Smart Upselling Strategies for Growing Businesses
What’s the easiest sale that you can make as a business? The easiest sale you can make is to a happy customer, and you can sell them something else. Here are a couple upselling tips:
First, you can sell your …
How Increasing Utilization Affects Profitability
We’re going to talk about increasing gross margin. One of the best ways that you as a business owner can go about figuring out how to improve profitability without increasing sales. One of the best ways to improve gross margin …
How Discounting Affects Profitability
When we’re thinking about cash, we have to think about the discounts that we might be offering, and how discounting affects profitability. Clearly, we want to try to take discounts if we get them. But what about discounts that we’re …
5 Sales Planning Steps to Profitability
True sales planning is one of the most important things that a business can do each year. It forces business leaders to think through – in significant detail – what is necessary to accomplish their business goals.
Sales planning is …
Importance of Sales Forecasting
The single most important element in the forecasting process is the Sales Forecast. Generally, Sales drives everything else; it is what determines the expense spending plan. If the company is a manufacturing company, the sales forecast will drive the production …
Sales and Accounting – They make a great team.
Sales and Marketing is a far more regular team than sales and accounting. CEO Matt Garrett outlines the many ways that sales and accounting are actually on the same team.…