Michael Davis, CPA was at the first networking I ever attended as I started my business. Over these years I have found him to be one of the most honest individuals who is giving of his time (and knowledge) to his clients and friends. Mike sat with me as my business started to grow and walked me through the systems I needed in place. He gave me an abundance of advice in the type of retirement accounts I should set-up (what really is a SEP account anyway?).
Mike dedicates a significant amount of time to helping small businesses make more money and grow their businesses. He has built a successful business for himself and wants to teach you how to do the same for your endeavor. Mike is one of the most connected networkers I know and is happy to introduce you around.
While I am gifted in my expertise (haha) and the service I provide to my clients, I am continually learning about the running of a business. This includes how to manage business finances, tax exposure and a 401k. When Mike speaks I listen closely and today he spoke at the networking group we both beyond to. Today, Mike shared these 5 key financial reports and how to use them:
- A daily profit and loss – how much money have you made today?
- Sales report by product or customer – who spends the most with you and what product of yours is most successful?
- Accounts receivable – who owes you money?
- Accounts payable – what are your outstanding financial obligations?
- Cash on hand – how much cash do you have available?
Mike gives other great tips:
- Pay as much of your business expenses on your credit card – you get miles.
- Check out Quicken for your personal finances
This is not just a guy who can handle your personal and business taxes. Mike will take the time to go over each detail of your business and look for the opportunity for you to maximize your efforts.