A refund policy defines the processes and rules for when customers want their money back and want to return the products or services they purchased from you. It’s often required by your credit card or shopping cart company as part of maintaining PCI (Payment Card Industry) compliance. Plus, it’s just a good business practice to…
Measuring and encouraging customer retention is important for businesses in many industries. There are a few great measures to see how you are doing in this area. Your Favorite Orange County Bookkeeper is here to provide some tactical tips for keeping customers coming back! Measuring Customer Retention The most common metric to measure customer retention…
One of the best tools to forecast cash requirements is the 13-week cash flow forecast. It can help a business owner predict what their cash balance will be 13 weeks in the future. It helps to answer whether there will be enough cash to cover payroll and bills for a particular week. If you are…
At the beginning of 2020, you might have thought that developing a business continuity plan was not a top priority. Or maybe you thought it was only for large businesses. Fast forward to today, and a business continuity plan has become an essential staple in business planning. There are more business risks than ever before…
Every company should have a strict process to follow when an employee leaves the company, no matter what type of termination it is – voluntary or involuntary. Your favorite Orange County bookkeepers have compiled a checklist that you can use to compare to your own process to either confirm you are on the right track…
The only way to get smarter about how to invest your marketing dollars is to document and measure what is happening now in your business. Once you’ve measured, you can then improve. Marketing Spend The first step to measuring what you spend on marketing is to aggregate all of the costs. They may be in…
Deciding on the kind of business you want to start is a very big decision. Some businesses require specialized skills that either the owner or employees will need. Others require a substantial initial capital outlay. In any case, it’s always a good idea to consider the health of the industry you’ll be entering in. While…
As we welcome a new year it’s a perfect time to reflect on the trends that will impact us and our businesses. Team One Accounting has compiled a list of trends in 2020 for your consideration and reflection: Trend #1: Sustainability Concern for the environment has made the list for core values by many companies.…
The start of a new year creates the perfect time to revisit old business strategies from last year so you can maximize your revenue for 2020. If your financial numbers were fantastic this year, that’s great! Keep the strategies that worked for you and cut the ones that didn’t. Whether your numbers were amazing, not…
A great way to make a wonderful start to 2020 is to wrap up 2019 feeling organized and on top of the world. Below is a checklist of items that you can start on now to make your year-end close go smoother than ever before. And don’t worry if you don’t know how to do…