At Strohmeier Tax and Accounting, we’ve identified over 30 ways we can make you money so that you can have a custom-designed small business accounting process that you can refer to as Your Accounting System. As you build your business we are committed to grow with you. Simply put, we measure our success by how well we partner up to help you achieve yours.

1. Learn how much profit you’ve made, and what your business is worth each month in order to:
   • Know when it’s the right time to grow
   • Know when it’s the right time to hold back
   • Plan accurately for taxes
   • Save hundreds to thousands of dollars on your year-end tax return
   • Comply with the reporting requirements of any loan
   • Respond immediately to any supplier’s or customer’s request for financial information
2. Get the maximum tax deductions for the expenses of running your business
3. Report your profit on a cash or accrual basis so you pay the lowest taxes
4. Obtain better credit terms based on your good payment history
5. Maintain your good credit rating and keep your borrowing costs low
6. Reduce the need to borrow money due to poor cash flow
7. Safeguard good customer relations by properly recording all payments
8. Discover theft before it becomes a problem
9. Track revenues and costs by job or project (contractors, landlords, attorneys, etc.) in order to:
   • Know on an ongoing basis which products are profitable and which ones aren’t
   • Get paid on time as you complete the job
   • Avoid working on projects where progress payments are behind
10. Concentrate on selling the most profitable items instead of the easiest ones
11. Know which money-making product lines to expand, and which ones to drop because they’re money-losers
12. Set your sales prices based on profit instead of conjecture
13. Know how much payroll and sales taxes you owe, in order to avoid penalties and interest
14. Send out customer statements on time so you can get paid
15. Purposefully file all customer invoices so that nothing gets lost
16. Track late payments in order to resolve these problems quickly
17. Ensure that you stop serving customers who aren’t paying their bills
18. Accurately calculate interest, and collect it from overdue accounts
19. Ensure that you don’t lose sales because items are out-of-stock
20. Avoid rush delivery charges to obtain out-of-stock items
21. Stop wasting money buying more of what isn’t selling
22. Identify profitable cross-selling opportunities
23. Avoid selling products at a loss because you don’t take markdowns timely
24. Avoid paying a bill twice by mistake
25. Avoid losing a discount by paying a vendor late
26. Reduce the need to borrow by planning for your payment due dates
27. Avoid writing a bad check
28. Avoid paying another bad check service charge
29. Make sure all your cash receipts are credited to your account
30. Know when you have excess cash so that you can put it to work
31. Track your expenses in detail so you know which ones can be reduced
32. Avoid spending beyond your budget
33. If you manufacture or assemble products (machine shops, bakeries, clothing manufacturers, etc.):
    • Know what it costs to make each item
    • Set a selling price to cover your costs and achieve a fair profit
    • Know what product lines to expand because they’re profitable
    • Know what product lines to drop because they’re money-losers