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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

What Happens When Fraud is Uncovered?

October 15, 2019 by OSYB Staff

What happens when you discover that fraud has been uncovered in your business? Once fraud has been discovered immediate attention is required and a fraud investigation (see previous post) should commence with the right team. Fraud Files shares a comprehensive guideline on how a fraud investigation should be run: Process: A fraud investigation is document-intensive […]

Do You Have a Fraud Investigation Policy?

October 10, 2019 by OSYB Staff

What happens when you discover that fraud has been uncovered in your business? Once fraud has been discovered immediate attention is required and an investigation should commence with the right team. Fraud Files shares a comprehensive guideline on what to do: Implement your fraud investigation policy which should be included in company guidelines and should […]

Tips on Lowering Operating Costs

October 8, 2019 by OSYB Staff

In a previous post, we shared the definition of operation costs. Keeping abreast of operating costs at regular intervals is vital, as this information allows for improving profit margins. Reduction of operational costs directly affects profitability. Intuit Quickbooks shares ways to lower your operating costs: Stay in step with current pertinent technology regularly, as the […]

Defining Operating Costs

October 3, 2019 by OSYB Staff

Intuit QuickBooks shares a definition of operations costs as “those required for the day-to-day maintenance and administration of your business.” As a small business owner, this should be an area that is always under meticulous scrutiny. Here are some examples of operating costs: cost of goods sold (COGS) – direct costs needed to produce a […]

Financial Terms 101 for Small Business Owners, Part 2

October 1, 2019 by OSYB Staff

So you have your own business and you have consulted or hired financial professionals to manage your business accounting. That’s great but it is always important for you to have some basic understanding of your company’s financial picture at all times. Intuit QuickBooks shares a glossary of terms that small business owners should be well-acquainted […]

Financial Terms 101 for Small Business Owners, Part 1

September 26, 2019 by OSYB Staff

So you have your own business and you have consulted or hired financial professionals to manage your business accounting. That’s great but it is always important for you to have some basic understanding of your company’s financial picture at all times. Intuit QuickBooks shares a glossary of terms that small business owners should be well-acquainted […]

Are Your Prices Set for Profitability?

September 24, 2019 by OSYB Staff

You are almost ready to open the doors for business. Now, you are ready to set the prices for your products or services. How do you that? Intuit QuickBooks shares some items for you to consider to set prices that maximize your profit and meets your customers’ needs: understand your profit margin – net income […]

How’s Your Digital Branding?

September 19, 2019 by OSYB Staff

Today, your digital branding is important for potential clients to find you. Most people make decisions based on what they learn or read online. If you don’t have a strong digital presence, you have probably lost a trove of potential clients. The marriage of traditional and digital branding will accord you the best of marketing […]

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