• E-Commerce Bookkeeping By Fuel Accountants

    | Categories: Accounting , Bookkeeping , Business Coaching

    Blog by Fuel Accountants

    From calculating taxes on online sales to inventory management to figuring out shipping logistics, running an eCommerce Fulfilled By Amazon (FBA) business comes with a whole host of challenges and considerations. Your bookkeeping and accounting solution needs to be able to keep up. As experts, we at Fuel Accountants want to help our clients by ensuring their books are clean so that you can run your business efficiently.

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  • 4 Steps to Retiring Early

    Blog by Fuel Accountants

    Early retirement may sound like a big dream, but it is achievable if you’re willing to do some planning and stick to your strategy.

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  • How to Choose the Right Savings Account for You

    Blog by Fuel Accountants

    Virtually everyone can use a savings account to help build up their wealth, but with so many options available, how do you pick the best savings account for you?

    The number of options available might make it more difficult to select which savings account to choose, but it also means that with a little bit of knowledge, research and strategy, you can almost certainly find a savings account that fits your needs.

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  • 6 Unconventional Ways to Market Your B2B Company

    Blog by Fuel Accountants

    Sometimes you want to try something new when it comes to networking with other business owners.

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  • 5 Effective Ways to Find New Clients

    Blog by Fuel Accountants

    If you want your business to continue growing and thriving, you’ll need to find ways to bring in new clients. Here are 5 ways you can find new clients for your business. Set aside time for marketing Regardless of whether marketing is your preferred activity, you need to set aside time for it. It’s easy to put marketing at the bottom of your priority list, but doing so makes it more difficult for you to bring in new clients. If you set aside a certain amount of time every week, or even every day–ideally at around the same time of day…

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  • 4 key areas to evaluate in your business budget

    Blog by Fuel Accountants

    You don’t have to be an expert in every aspect of your business. If there are areas you aren’t certain of, or want to learn more about, you can hire outside parties to guide your decision-making. Consultants can help you with managing your business, evolving your career, building your relationships, and even marketing your goods and services.

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  • Canadian Federal Budget 2022

    | Categories: Canada

    Blog by Fuel Accountants

    Last night the Canadian government released its 2022 budget.  For all of the $327.7 BILLION DEFICIT, what does this mean for us small business owners?

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  • 3 ways to delight your online customers

    Blog by Fuel Accountants

    Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a bigger market share.

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  • Important Things to Know about an Estate Plan

    Blog by Fuel Accountants

    If putting together your estate plan isn’t at the top of your priority list, you’re not alone. It’s something that people typically don’t want to do–for a variety of reasons. It’s not fun to think about what happens after we’re gone, and we often believe we have a lot of time to get our affairs in order.

    No matter how large or small your estate is, you need a plan to ensure your wishes are carried out and your loved ones are taken care of in the way you see fit. A will is an important part of your estate plan, but your estate plan is bigger than your will.

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  • Nine Tips to Reduce Debtor Days for Construction Business Owners

    Blog by Fuel Accountants

    Steady, reliable cash flow is crucial for the survival of your construction business – so taking steps to ensure your customers pay promptly is a key priority.

    Debtor days refers to the length of time it takes clients, on average, to pay you for the work you’ve done. A higher number of debtor days means clients are taking longer to pay you. A lower number of debtor days means clients take less time to pay you, which means there’s more cash available for your business to use.

    In the construction industry, debtor days can average as long as almost three months. Shortening that length can have a huge impact on your cash flow.

    When your clients consistently pay on time, you’ll avoid the dreaded “feast or famine” cycle. You’ll be able to pay your vendors, suppliers, and employees on time, and, not least of all, yourself. Additionally, if clients start taking too long to pay you, you may leave money on the table in exchange for collecting anything at all.

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  • 4 Tips for Positioning Yourself as a Market Leader

    Blog by Fuel Accountants

    Small business owners often feel that they have to do something to stand out from the crowd and attract an audience. If that’s how you feel, you’re definitely not alone. Many business owners try to stand out by creating fancy websites that grab attention. Those may work in the short term, but it’s worth considering other ways to market yourself as an industry leader and build relationships with your ideal customers.

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  • How to Win Your Customers Back in 2022

    Blog by Fuel Accountants

    Whether your small business is business-to-business (B2B) or business-to-consumer (B2C), you likely deal with some level of customer churn, especially given the COVID-19 pandemic. Even customers who love your business and your products may have lapsed for a variety of reasons.

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  • Secrets to Keeping Your Employees Happy

    Blog by Fuel Accountants

    Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages.

    Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train new staff. Beyond that, employees that are satisfied and feel valued are more motivated and productive.

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  • 6 Tips to Improve Your Delegation Skills

    Blog by Fuel Accountants

    When you run your own business, it’s tempting to take on every responsibility. There are many reasons for doing so: because you want something done a specific way, because you don’t have the time to explain how to do it, or because you’re not sure someone else can handle the task.

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  • 4 Tips to Improve Your Business Negotiation Skills

    Blog by Fuel Accountants

    Owning your business requires many skills, and among the most important might be the ability to manage negotiations. As a business owner, you could find yourself negotiating in many circumstances, such as:

    • Salary and job expectations with a potential employee
    • Financing terms with a lender
    • Payment terms with a supplier
    • Lease or property agreements
    • Equipment agreements.

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  • Differences Between an Accountant and a Financial Planner

    Blog by Fuel Accountants

    When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some important differences between the two.

    For any successful business, it’s advisable to have both an accountant and a financial planner because their skills are so complementary and they can work together to help you better meet your financial goals.

     

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  • Setting and Achieving Financial Goals

    Blog by Fuel Accountants

    Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places. Having goals and a plan makes it more likely that you’ll achieve financial security–whatever that means to you.

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  • 5 Steps to Setting Up Your Business Processes for Success

    Blog by Fuel Accountants

    When a business first starts out, it’s natural for the owner to be a jack-of-all-trades. You may not have the capital to hire specialists or access to the technology that can help you. As your business grows–or as you look to take a smaller role in your company–you may find the business has become over-reliant on you, which makes it difficult for you to take a step back.

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  • How Much Cash Does My Business Need?

    Blog by Fuel Accountants

    Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case.

    There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is a good baseline to start from, but there’s more to it than that.

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  • Cash Flow Advice for Small Businesses

    Blog by Fuel Accountants

    Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management is a major concern for them.

    Cash flow refers to the movement of money into and out of your business. It’s based on the amount of money you bring in minus the amount you spend. A positive cash flow means you’re bringing in more than you’re spending. A negative cash flow means you aren’t bringing in enough to cover your expenses. Your company can run into problems by not charging enough for goods or services, having clients who are chronically late to pay, growing too quickly or simply spending too much money.

    Cash flow can vary throughout the year, depending on sales cycles or whether you’ve made a large purchase. Here are three strategies you can use to gain control over your cash flow.

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