Your Business Grew. Did Your Chart of Accounts Grow With It?
Your Business Grew. Did Your Chart of Accounts Grow With It? When a business opens its first location, a simple accounting structure often works well. Sales go into a handful of accounts, expenses are grouped broadly, and the owner knows enough about daily operations to explain most movements without much investigation. Then the business grows. […]
Month-End Closing in Jamaica: Why Your Accounts Take Too Long and What to Fix
Month-End Closing in Jamaica: Why Your Accounts Take Too Long and What to Fix For many Jamaican businesses, the end of the month does not really end when the calendar changes. Finance teams are still reconciling bank accounts, chasing invoices, correcting coding errors and waiting on information from other departments. By the time management receives […]
Before You Build Your 2027 Budget, Fix These 6 Numbers in Your 2026 Accounts
Before You Build Your 2027 Budget, Fix These 6 Numbers in Your 2026 Accounts For many businesses, budgeting starts with a spreadsheet. Last year’s numbers are pulled up, revenue is increased by a percentage, expenses are adjusted, and management begins setting targets for the year ahead. The problem is that a budget is only as […]
Tax Money Is Not Working Capital: A Costly Mistake Jamaican Businesses Must Stop Making
Tax Money Is Not Working Capital: A Costly Mistake Jamaican Businesses Must Stop Making A finance manager once described tax season in a way that many business owners would understand: “The money was there until we remembered it was not ours.” That sentence captures one of the most common cash flow problems in business. The […]