QuickBooks accounting software, designed by Intuit, is known for being one of the best accounting software programs on the market. Although there may be more crucial decisions for small business owners, it is essential to differentiate between different suites of QuickBooks. Every QuickBooks software program offers different features that suit unique business operations. Rather than spending money on the wrong type, one should wisely compare QuickBooks Pro vs. Premier to determine which version is best for their business.
It is difficult to differentiate between both editions when new to QuickBooks as both have multiple attractive options. This article will help you decide on the best edition for your business. If you are looking for a desktop edition of QuickBooks, you are likely stuck between QuickBooks Pro and QuickBooks Premier for your small to medium-scale business. Before comparing the features of both editions, you must understand what QuickBooks is and how it can help you in your business operations.
QuickBooks is known for being the most innovative accounting tool for small business owners. Small to medium-sized business owners prefer using QuickBooks to manage their accounting and bookkeeping processes, such as paying invoices on time, accepting payments from vendors, and tracking inventory expenses in one platform. However, one should understand the following points before purchasing any QuickBooks product.
The features of QuickBooks products can change. Therefore, research the bookkeeping software just before purchasing any product.
The products in a QuickBooks portfolio have nuances, as very minor differences exist between each product.
The developers can discontinue or replace QuickBooks products with a different product. Therefore, carefully analyze the product before making any purchases.
QuickBooks Pro
QuickBooks Pro is a product of Intuit’s QuickBooks accounting software designed to simplify small business management’s basic accounting tasks. Being the oldest product of Intuit in the business accounting range, QuickBooks Pro was created in early 2000. However, to date, QuickBooks Pro has evolved with the ever-changing needs of businesses today.
QuickBooks Pro is a complete software package for businesses aiming for a less complicated and more user-friendly accounting system. The software does not have additional packages, making QuickBooks Pro more affordable than the Premier edition.
Main Features of QuickBooks Pro
QuickBooks Pro has many built-in features to assist businesses in their accounting operations:
Multi-Monitor Support: QuickBooks Pro allows licensed customers to take care of their business faster on three monitors. The program will enable three users of your business to operate with one licensed purchase. With this, a business can manage the list of customers on one screen while tracking invoices and payments coming from the customer on the other two screens.
Past Due Stamp: Another attractive feature is that the program will automatically update a “Past Due” stamp over the invoices that have crossed their due dates. This feature will help in tracking debts and accounts receivables.
Search Chart of Accounts: This option enables the bookkeepers of a business to track any account or sub-account for speedy accounting easily.
Cash/Accrual Toggle: The software makes filtering results with cash or accruals easier. This way, a business can compare its performance on a cash and accrual basis.
Payroll Liability Reminder: Another great feature is that it reminds a business of its upcoming liabilities.
QuickBooks Premier
QuickBooks Premier has almost every feature of QuickBooks Pro, with a few additional attractive features according to the needs of a business. The software has multiple versions that are tailor-made for a business, according to their industry. Businesses have the option of 6 industries to choose from, such as:
General Business
General Contracting
Non-Profit
Professional Services
Retail
Wholesale & Manufacturing
Additional Features of QuickBooks Premier
Multi-Monitor Support: Up to five users
Inventory Reports: Flexible and customized inventory reports
Search Chart of Accounts: Track any account or sub-account of the business
Cash/Accrual Toggle: Compare performance on a cash and accrual basis
With Pro, a business can quickly get a snapshot of their customers
The software allows accountants to use the Income Tracker feature, which will show all unpaid dues of the company.
Using QuickBooks Pro, you can easily extract essential data from your customers in Excel.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Starting a business is often exciting – yet scary at the same time! It is like moving through immense fog where you can only see a few feet before the windshield. Hence, you do not know what is awaiting you until it is upon you. However, the more experienced you are in entrepreneurship, the better you can navigate that fog. From bookkeeping to business management, your knowledge and expertise will enable you to make the right decisions.
Here are nine critical factors or vital decisions at a start-up that can go a long way.
A Good Sense of Timing
You need to understand this in two ways:
Picking the best moment to begin your start-up: The ideal moment to start your company is typically a balancing act that is determined by several significant factors, including the availability of necessary start-up funds, the success or failure of competitors, the ebb and flow of your industry, and your personal and family circumstances. For instance, you may delay the plan as you expect a baby in the next few months.
Immediate action to grab the opportunity: Since entrepreneurship is about taking calculated risks, you must leverage an opportunity immediately. You can achieve this by completing your business plan and making decisive moves to get your company off the ground promptly. But always avoid a rush attitude. You must show diligence in the plan development. However, many start-ups fail because they are too sluggish and wallowed to complete any task promptly.
Avoid Giving Heed to Statistics
Many people use statistics like 95% of businesses fail’ simply as an excuse to make themselves comfortable about giving up. Even if that number is correct, it is because most do not commit to their goals, follow through to the end, or have money management skills.
Do Something You Love
Do not begin something you will not want to do in the next five years. Making your passion your business means you will still enjoy and earn in the next five years. It could be painting, singing, engineering, teaching, marketing, auditing, or bookkeeping.
Assess if You Must Raise Funds to Launch Your Start-up
It is often rare for an entrepreneur to have enough savings and funds in his bank account to begin their business seamlessly. On the other hand, most start-up enthusiasts must raise finances to turn their ideas into reality. Therefore, you might need to use bank loans, leverage assistance from family and friends, or put properties on the mortgage to arrange money to invest in your start-up. Hence, assess your business goals to know how much you need to begin.
Know Your Team Members Before Bringing Them on Board
The people behind your business are the most critical factor, particularly for start-ups. Recordkeeping is essential for bookkeeping, and products or services must be iterated many times until they find their marketplace; similarly, it is all about having the right people do the right job. Their direction is more important than the pace of their performance. Here, it would be best to focus on their background story, such as precious experience, companies and qualifications, and the value they bring to the table.
Invest Wisely
Warren Buffet says, “Instead of putting all your eggs in the same basket, make multiple investments.” Following this inspiration, you should diversify your investments to help increase your chances of success and reduce the risk involved. Since these investments are for the long run, always show patience.
Avoid Over, or Under, Investment
Starting a business can significantly affect you and your family financially. You must learn where and when to spend what amount. You should neither waste your precious dollars nor fail or delay investing adequately where necessary. You often need to spend funds to earn money in any business. Hence, never skimp out or underestimate things your company needs.
Set Up Your Cash Flow Tracking
Since you must submit a self-employed tax return, you must have a good track record of all business transactions. Though opening a separate business account is not necessary when setting up as a sole trader, it could be helpful to keep track. Several online tools help small businesses manage bookkeeping and maintain other accounts and enable large organizations to prepare audit and complex financial reports.
Start Selling
You must know how to promote your product or service and who to target. Though you have already mentioned it in your business plan, it is time to put the matter into execution. Much of your early budget will be on advertisement and marketing, whether SEO, networking, telemarketing, or targeting retailers. Your first few sales will boost your confidence and help you show more commitment and dedication toward the business goals.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Businesses face several accounting costs that can easily be identified and calculated when conducting business operations. All money coming in and going out must be tracked. Companies, however, also face other economic costs that are not displayed on the bookkeeping records and have a significant impact on the decisions made by management.
Accounting costs are crucial for the company’s external and internal reports. At the same time, economic costs apply to the internal sector only. This factor is significant for bookkeeping. These different costs and expenses will be explained below.
Implicit Costs
Economic costs reflect a company’s implicit and explicit costs during the year. Implicit costs are linked to resources offered to a company without any price tag. If a company, for instance, operates from a building it owns, it encounters an implicit cost due to the rent that could have been earned by leasing the building to some other company. The owner could have earned around $3,000 monthly from a commercial renter. Therefore, in this case, the company faces an implicit cost of $3,000, referred to as its economic cost.
Explicit Costs
Accounting costs are generated from the overall explicit costs of a business throughout the fiscal year. They do not include the implicit costs coming from unused resources. Explicit costs defined by their monetary value are included in a business’s accounting costs to identify the net income.
Accounting Profit
If an accountant or bookkeeper wants to calculate the accounting profit of the financial year, they will only have to look at the profit of the company and its accounting costs. The accountant does not need the economic cost details to form an income statement for the company.
For instance, accountants are not concerned that the company could have made $3,000 by leasing the building to some other business – making a total of around $36,000 during the financial year. This figure of $36,000 has nothing to do with the company’s gross profit during the financial year.
Economic costs are not included in bookkeeping.
Economic costs are not written or mentioned in a company’s accounting records or bookkeeping. When creating financial reports, accountants are focused on the explicit costs generated from the business operations conducted throughout the financial year.
However, Economic costs are generally considered when a company must make strategic decisions involving opportunity. For example, suppose a company intends to close an operational location and rent or lease it out to another business. In that case, the company needs to consider the economic costs of losing the money generated from business operations or the profit that might be generated from the rent.
Economic cost generally comprises the monetary value of resources the business employs. Also, it links to the opportunity cost that arises from the inputs used by the enterprise to make the business functional.
On the other hand, accounting costs are focused on explicit costs incurred by the business. Any company’s costs in normal, day-to-day market transactions are referred to as explicit costs. One common example of explicit costs includes wages that are given to employees. The money spent buying the resources the business needs is also known as explicit costs.
By learning about each specific cost and profit, you and your company will be better prepared for the financial reports and audits. Make sure to keep an eye on economic factors. Many economic costs will not be publicly published. You will have to stay informed!
Conclusion
In conclusion, while accounting costs are vital for tracking financial performance in business, economic costs play a crucial role in strategic decision-making. Understanding the distinction between implicit and explicit costs empowers businesses to navigate financial complexities effectively. By incorporating accounting and economic perspectives, companies can optimize their operations and adapt to changing market dynamics, ensuring long-term sustainability and success.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
In your opinion, what do you think an excellent, profitable restaurant would look like? Smiling, happy servers, clean kitchens, and extensive tips received by customers are what most of us think of. However, to calculate how a restaurant performs, you must also consider what kind of profits it generates. If there is no difference between the profits gained each month, consider revising your management skills. The best tips for effective restaurant management will take your profits up a notch.
Prime cost is the best marker of benefit potential and how well your expenses are being overseen. Cooks who do not have control over the prime expenses have an inferior administration framework. It is one of the fundamental pointers on how well the business is being managed.
Prime Cost Should Not Be More Than 60%
For most, prime cost should run nearly 65% of aggregate deals. Bigger chains can keep their prime cost at 60% or less. Yet, for most, accomplishing a prime cost of 60-65% still allows getting a solid net salary.
When prime cost surpasses 65% and reaches around 70% of offers, gainfulness issues primarily emerge. Furthermore, it is exceptionally troublesome for any restaurant to influence satisfactory profits when this happens. In short, the objective is to keep the prime cost at 60& of aggregate deals or less.
Profit and Loss
The most critical destination of each business is to make a profit. The Profit and Loss account demonstrates how a restaurant has accomplished this target. Organizations are required to keep their P&L accounts in specific arrangements. Usually, the P&L record will demonstrate the income a business receives and the costs associated with creating that income. In straightforward terms:
Incomes – Expenses = Profit
Month-to-Month Profit and Loss Examination
Daily and week-by-week, numbers are an indispensable piece of administration that offers an inclination to fruitful restaurant activity and productivity. Finish monetary articulation bundle incorporating a pay proclamation and accounting report should be arranged and looked into monthly.
Numerous food providers want a rundown variant of their profit and loss investigation to rapidly examine the key numbers and understand how the restaurant performs. Some just dig into the more point-by-point reports if something has all the earmarks of being out of line or does not bode well. You must look at your bookkeeping records frequently.
When you look at your profit and loss statements, you need to feature the following key numbers.
Prime Cost
Prime cost incorporates the cost of offers and finance. It is prescribed to ascertain prime cost weekly, yet prime cost should be incorporated into the profit and loss investigation.
Other Controllable Costs
Other controllable costs are sensible somehow by management. These fields can be assembled into classifications like direct working costs, advertising costs, utilities, and so on. With profit and loss, the investigation should demonstrate month-to-month and year-to-date sums in the individual records incorporated into these outline classifications.
Controllable Salary
If you isolate controllable costs from non-controllable costs, it is conceivable to figure out a standout among the most vital edges on any profit and loss statement: controllable salary. It is a crucial marker of management adequacy in driving deals and cost control. Those numbers reflect the details over which they apply any impact or control.
Non-Controllable Costs
Non-controllable costs incorporate inhabitance costs—property charges, building protection, lease, and different expenses. Management has next to no control or impact over these costs.
Restaurant Working Wage
Restaurant working wages are produced without respect to corporate overhead, financing costs, nonrecurring salaries and costs, and wage charges. It is helpful for correlation with different restaurants and the working consequences of the industry midpoints. Restaurant wages are improved using correlation with spending plans, earlier periods, and pattern investigation for more than a few periods.
Consequently, bundled business accounts deliver profit and loss statements. The issue may happen if the wrong information has been entered, lost, or ruined.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Keeping everything organized in your business allows it to run like a machine. The boost in efficiency that proper organization gives benefits small and large companies. However, small businesses often need to pay more attention to this crucial factor of efficiency, which limits their ability to grow and expand operations.
A critical aspect of keeping a business organized is having adequate space to keep unused equipment, inventory that hasn’t been stocked, and files for records that might be needed later.
What is Self-Storage?
Self-storage is a rental service offered by providers where individuals or businesses can lease storage space for varying durations, typically every month. Tenants rent these units to store belongings, inventory, equipment, or other items they may not have adequate space for on their premises.
The rental agreements for self-storage units often offer flexible terms, allowing tenants to adjust their space requirements as needed. While monthly rentals are standard, some providers may offer longer-term contracts with annual payments or extended leases to accommodate different needs.
For small businesses, self-storage presents a cost-effective solution for managing inventory, equipment, and other materials without the high overhead costs associated with expanding physical premises. This affordability makes self-storage attractive for businesses looking to optimize operations without committing to significant real estate investments.
Benefits that Can be Offered for Using a Self-Storage Facility
Self-storage facilities often extend beyond mere storage solutions, offering a range of supplementary services tailored to meet the diverse needs of their tenants, notably smaller businesses. Here are some key benefits that self-storage providers may offer:
Meeting Rooms: Many self-storage facilities feature on-site meeting rooms that tenants can utilize for client meetings, presentations, or team gatherings. These spaces offer a professional setting without a dedicated office space, catering to businesses requiring occasional meeting venues.
Fax and Internet Services: Access to fax machines, printers, and high-speed internet within the self-storage premises can be invaluable for businesses that operate remotely or lack these amenities in their primary locations. This convenience allows tenants to handle administrative tasks efficiently without investing in costly office equipment.
Courier Receiving Services: Self-storage providers may offer courier receiving services, accepting deliveries on behalf of tenants during business hours. This feature is particularly advantageous for businesses with irregular schedules or limited on-site personnel, ensuring secure package handling and receipt without constant oversight.
Package Sending Services: Some self-storage facilities may also provide package-sending services, allowing tenants to dispatch shipments directly from the storage site. This offering streamlines logistics operations for small businesses, eliminating the need for separate trips to courier drop-off locations and saving valuable time and resources.
By offering these additional services, self-storage providers cater to the specific requirements of smaller businesses, which may not have the infrastructure or financial means to access such amenities independently. This holistic approach enhances the value proposition of self-storage solutions, making them an attractive and cost-effective option for businesses looking to optimize their operations and minimize overhead expenses.
Businesses that Use Self-Storage
Different businesses have different kinds of storage needs. Self-storage services cater to businesses with unique storage requirements tailored to their specific operations. Here are examples of small businesses that commonly utilize self-storage solutions:
Landscape Businesses: Landscaping companies often require storage units to house their equipment, such as lawnmowers, trimmers, and gardening tools. Self-storage units provide a secure and convenient space for storing these items when not in use, ensuring easy access and organization for landscape professionals.
Medical Offices: Medical practices, including doctor’s offices, clinics, and dental practices, may utilize self-storage units equipped with climate control to store patient records, medical supplies, and equipment. Maintaining a controlled environment helps preserve sensitive medical documents and equipment, ensuring longevity and compliance with regulatory requirements.
Hospitality Industry (Restaurants, Hotels, Motels): Businesses in the hospitality sector, such as restaurants, hotels, and motels, often leverage self-storage solutions to store seasonal decorative items, excess furniture, linens, and kitchen supplies. By utilizing self-storage units, these establishments can efficiently manage inventory turnover and store items not currently in use, optimizing space within their primary facilities.
These examples illustrate how self-storage services cater to the diverse needs of small businesses across various industries. Whether storing equipment, preserving sensitive documents, or managing seasonal inventory, self-storage solutions offer flexibility, affordability, and convenience for businesses seeking efficient storage options.
Conclusion
In conclusion, if you are an owner of a small business looking to organize your business better to streamline operations and improve efficiency, it is recommended that you look into the benefits of availing of these self-storage facilities.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Are you someone who spends much time looking for a receipt for personal or business use? Receipts are proof of transaction or purchase made and are invaluable to keep an excellent financial backbone. Many people tend to pile up receipts over time, leading to a complete mess that is nearly impossible to sort out.
When organizing receipts for business or personal use, think of a system that is easy to use, simple to recall, quick to file papers, and easy to locate what you need. No system for recording receipts is perfect, and each has flaws. The best way to deal with receipt tracking is to convert them into digital form.
Receipts in Digital Form
Paper receipts are not made from the best paper; they are frail and don’t last very long. Paper receipts are prone to wear and tear and are easily lost and destroyed. Keeping all receipts in one place will make it much easier to store and record. Digitizing all paper receipts is the best way to help manage different receipts.
Using software like Evernote, keeping track of receipts is easier. Evernote can scan and record any receipt within seconds. It uses less storage space with many options to tag and keeps every receipt safe. Following are the best ways to keep track of every single receipt easily:
ShoeBoxed
Shoeboxed is an effective mobile app available for Android and iOS that allows receipts to be scanned with a phone camera. It uses the phone camera to scan a paper receipt, extracting all the information needed to keep track of any receipt. For more services, Shoeboxed offers a chance to have the receipts reviewed by certified professionals who can review five monthly receipts. The app can automaticallysync to the web version of Shoeboxed, making it easy to organize receipts for a business.
Office Lens
Internet and app-savvy individuals must know OneNote and its new companion, Office Lens. Microsoft develops Office Lens to assist people and corporations in keeping track of their receipts. Office Lens is a scanner app with highly customized integration settings with Microsoft Office and other products. It works seamlessly with Office 365 and OneNote. It gives the user more options to save the digitally scanned image as a PDF, an image in an email, or a jpeg in your camera roll to organize receipts for a business. The system is straightforward; just click a photo from the app, choose the needed service, and let the app do the rest.
Genius Scan iOS
Grizzly Labs has devised a viable solution to eliminate the cluttered mess of receipts lying about in drawers. The app is integrated with many different cloud services, including OneNote. The app is very simple to use; just take a clear photo from the app using the phone camera and let the app get to work. Genius Scan will enhance the receipt to be excellent, allowing a high-quality copy to be stored and retrieved later. The Genius Scan app is available for both Android and iOS. The basic version supports DropBox, while the premium version supports Google Drive, OneNote, Expensify, and EverNote.
Expensify
Creating a business expense report was never this easy; the Expensify app has made it easier for business and home users to create expense reports from receipts stored as photos automatically. It’s possible to track the total hours worked with a single tap. The app can track mileage using GPS by taking a picture of the odometer in the car. The app can link up everything with the bank account or a credit card to pull transactions that do not have a receipt. The app can generate IRS-guaranteed e-receipts.
Receipts
Receipts is a scanning application available on iOS only. The Receipts app scans any receipt, placing it in its allocated category. The app can keep track of spending in each category. Such a system is highly effective in tackling account management issues. The app is available on iOS. However, without free versions, it is a letdown for many when organizing receipts effectively.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
An expense is the cost incurred or amount spent in an organization’s operations to generate revenue. Expenses are the amount of money paid to purchase goods or services by an organization. An expense can be categorized into two major classifications: direct and indirect.
Direct Expense
Direct expense refers to the company’s cost for its core operations. These expenses are related to the purchase of goods for the company. For example, a freelance writer may buy utensils for their writing purpose, or an executive may buy freight for their organization – these are direct expenses.
Direct expenses can be deductible, according to the IRS. However, it must be proven that these expenses generate revenue for the company. Another term for this is direct cost.
Indirect Expense
Indirect expenses are all other expenses that are required to run an organization. The indirect expenses include bills, rent, insurance, office supplies, and legal charges. An Indirect expense is not related to the business operations of the company. However, they are as important as direct expenses to run an organization.
Indirect expenses can vary for different companies. These expenses appear on the debit side of the IRS, which means they are non-deductible. Personal and indirect expenses are not considered IRS deductible.
Tracking Your Expenses
How do I maintain a monthly budget? I cannot save anything by the end of the month; what should I do? I have to pay my tuition; how do I manage? Whether running a household or an organization, these questions run in everyone’s mind.
Many people ask why keeping track of one’s expenses is important. The answer is simple: if you want to maintain your finances, you must keep track of every penny. Keeping track of your expenses will help you maintain a monthly budget and your long-term goals.
There are many ways to keep track of your finances. Most large organizations have an accounts department that performs the bookkeeping for the company. The department keeps track of all the money spent on the company’s expenditures, including the direct and indirect expenses.
Steps to Track Your Expenses
1. Monthly bills
List your monthly bills such as utility, phone, cable, credit/debit card, loans, insurance, salaries, and everything that needs to be taken care of every month. Use a spreadsheet or a notebook to write down these bills.
2. Personal funds
Groceries, clothes, gas, entertainment, and all personal items fall into this category. These expenses are as important as any other expense. Please keep track of these expenses and write them down. Keep your receipts handy or staple them into your notebook. Cash and credit and debit card payments should both be included. These are all considered indirect expenses.
3. Review
When you have everything listed, add up the numbers. Once you see your monthly expenditures, think of strategies that will help you save money. For example, try using ATMs that do not charge any additional fees. Cut down on the extra channels you no longer watch; it will cut down the cost of your cable bill. Getting creative here is fairly easy; you’ll have extra money in your bank account with little effort.
4. Big expenses
These expenses may not be every month but could appear anytime during the year. These include home/office repairs, travel expenses, furniture, education, or family vacations. It is essential to look at your bank records carefully and plan if you see any of these expenses coming up. Be prepared, as it will help you plan better for an emergency.
5. Plan a strategy
After reviewing your expenses, think of a way to cut off anything extra you do not require. Plan for your goals. Set up a target every month to save up a certain amount. If possible, open a savingsaccount and put in monthly money.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
The modern era has offered humanity more than we could have imagined. Each technological and scientific development brings about newer and better concepts. Innovative gadgetry that is sometimes too hard to resist results in overspending.
Often, society determines an individual’s success by their ability to spend less than they can earn. By earning more than they can spend, a person has stability and confidence that is effective when handling emergencies. They are also in a better position to assist others.
Stress-free budgeting helps provide stability to, for example, better caring for the family and meeting their needs. Saving money is, by far, the smartest thing you can ever do, so here are some valuable but simple tips for better management of your money, leading to an easier and hassle-less life.
Some effective habitual changes can enable anyone to enjoy a higher level of economic independence. Stress-free budgeting requires an understanding of seven principles or concepts that must be understood in order to tackle one of the most common reasons for financial turmoil: extravagant spending.
Set a Goal or a Target
One needs to first realize and accept the fact that there is a problem in their spending habits; only then will you be able to tackle it without further aggravating a delicate situation. The goal should not be simply tracking dimes and cents but to create a budget that is reflective of essential needs. A good budget with an achievable goal will better indicate what you need and shed light on where your spending went wrong.
Weekly Observation of Spent Cash
This can tell you a lot about what is happening to your cash. Observing weekly transactions will reveal small change adding up to a good amount. Those small amounts weigh heavily when it is totaled up in stress-free budgeting at the end of the week. This is recommended so that real-time information and facts are laid out for self-realization and modification.
Accumulate an Estimate of Expected Earnings and Expenses
This gives you an effective idea of what is coming in and what is to be spent—for instance, rent, allowances, tuition, car maintenance, etc. Everything needs to be listed and should have an estimate, so keep it factual and realistic. This enables you to make our budget and purchases as cost-effective as possible.
Like groceries and gasoline, expenses need to be tended to first as these are critical categories in stress-free budgeting. It is clothing, apparel, gadgets and equipment, entertainment, etc., that create stressful situations. These need to be pointed out and noted, along with how much the earnings are.
Plastic or Cash?
Paying cash is the easiest way to get lost while conducting purchases or transactions. With small change being used from other categories, all of it ends up being totaled, and the amount will not be cheap! All the payments are billed and recorded by using credit cards, so this is another way of monitoring expenditure.
Paying with plastic will help your stress-free budgeting by showing you how and where you spend your money. Using credit cards has benefits and rewards, which is another perk. If you prefer not to use credit cards, debit cards are effective and an equally suitable alternative, with one significant difference, lower service charges.
Save, Save, Save
That is the motto in the world of personal budgeting. This is also our goal and should be focused on excessively. A budget can precisely comprehend how much they have earned while also showing how much they need to spend and save. Therefore, it is highly recommended that you start saving money during stress-free budgeting and then spend the remainder by allocating the rest to their respective categories. Using this effective method, you will not be able to overspend and can reinforce savings!
50/20/30 Scheme
Senator Elizabeth Warren, in her book “All Your Worth,” promoted this method, and it is beneficial because it is so straightforward. She says 50% of all income is allocated to requirements, 20% is reserved for saving, and 30% is allotted to lifestyle preferences. Facing difficulty? Trying this simple plan is duly advised.
Using Schedules and Other Relevant Tools
The beauty of stress-free budgeting is the vast choices of available tools to assist in everyday expenditures. Also, there is no single tool that is effective universally and works for everyone at the same time. For some, scheduling and daily monitoring are sufficient, while others might need a range of budgeting applications connected to personal accounts in banks that utilize smart technology.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
The cumulative cost of selling a particular product is the Cost of Goods Sold (COGS). This varies from product to product and increases with factors such as the complexity of the manufacturing process or the cost of raw materials. The volume of the product manufactured may also directly impact the overall Cost of Goods Sold. As a business owner, it is imperative that you know and understand COGS for your particular business so that you can keep your inventory and financial books under control.
COGS is important because it is necessary to refer to when filing your tax returns. Being as accurate as possible on your taxes is very important. Adding it to the equation will reduce your total income, giving you a particular advantage. Unfortunately, calculating this cost of goods sold is not as simple as it sounds. Getting it right is crucial to getting your taxes right.
How Can You Calculate the Cost of Goods Sold?
Naturally, calculating the Cost of Goods Sold varies from product to product. There are many factors to consider. However, to simplify the explanation, let us look at an example of one product and see how it is done. Remember, this explanation exists for the sake of understanding. It is in your business’s best interest to work with a CPA or a tax professional to accurately calculate the cost of your business income tax returns.
The first things you must have are the starting and inventory amounts and the cost of all inventory purchased that year. There are a few different evaluation methods. Talk to your CPA to determine which one they recommend using. This will give you a better idea of the components you need for the calculation.
What Are the Essential Components for the Calculation of the Cost of Goods Sold
The first step is to identify and analyze the following components:
Cost of inventory at the beginning of the year
Cost of the inventory purchased during the year
Inventory left at the end of the year
The sum of the first two components minus the last component will determine the Cost of Goods. It does not matter if you are a manufacturer or reseller; this calculation will help you deduce the direct and indirect cost of goods sold.
Direct and Indirect Costs – Direct and indirect costs are calculated in the next step. The direct costs include:
The cost of raw material
Cost of merchandise
Packaging costs
Cost of supplies for production
Direct overhead costs are involved in the production
The indirect costs include labor costs, storage costs, salaries, equipment costs, and the cost of depreciation. Facility costs include mortgage, rent, utilities, etc. This is perhaps the most complicated part of the entire process. It is nearly impossible for any business to determine these costs without the help of a CPA.
The LIFO and FIFO Methods
LIFO and FIFO are ways to calculate the inventory left at the year’s end. The IRS is very critical of the valuation method you use. If you decide to use a different valuation method than the previous year, you must seek the IRS’s approval.
Different COGS calculation forms are used for different types of businesses. For instance, sole proprietors use Part III for calculation and include the cost of income in Part I. Corporations or partnerships use Form 1125A. This process may be complicated and best left to professional CPAs.
Conclusion
In conclusion, comprehending and precisely calculating the Cost of Goods Sold (COGS) is a crucial responsibility for business owners, serving as a measure of cumulative selling costs and a cornerstone in tax filings. This involves analyzing components such as beginning inventory, purchases, and year-end inventory, shedding light on direct and indirect expenses like raw materials, labor, and overheads.
Furthermore, the choice between LIFO and FIFO methods for inventory valuation adds complexity, necessitating consistency or formal IRS approval for method changes. Given these intricacies, seeking guidance from certified public accountants (CPAs) or tax professionals is prudent to ensure accurate COGSdetermination and compliance with IRS regulations, ultimately aiding in financial decision-making and regulatory adherence, thus fostering the overall fiscal health of a business.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Overhead Rates for Small Businesses: Master Your Hidden Profit Killers
Overhead rates for small businesses measure the percentage of revenue consumed by indirect costs like rent, utilities, and administrative expenses—typically ranging from 10-35% depending on your industry. Calculating this rate involves dividing your total monthly overhead by either your sales revenue or labor costs, then multiplying by 100 to get a percentage that reveals how efficiently your business operates behind the scenes.
Small business owners lose an average of $40,000 annually to unmanaged overhead costs, yet 67% never calculate their overhead rate. I’ve spent over 20 years as CEO of Complete Controller working with businesses across every sector imaginable, and I’ve watched smart entrepreneurs transform their operations by mastering this single metric. This article walks you through the exact formulas, industry benchmarks, and cost-cutting strategies that have helped our clients reduce overhead by up to 30% while maintaining quality service delivery.
What are overhead rates for small businesses, and how do you calculate them?
Overhead rates measure indirect costs as a percentage of sales or labor: Calculate by dividing total overhead by monthly revenue × 100
Total overhead includes: Fixed costs like rent, utilities, insurance, and administrative salaries
Two calculation methods exist: Overhead-to-sales ratio (most common) and overhead-to-labor ratio (for service businesses)
Industry benchmarks vary: Service businesses target 10-20%, retail aims for 20-30%, manufacturing often runs 25-35%
Monthly tracking matters: Overhead rates fluctuate with seasonal business changes and market conditions
Understanding Your Small Business Overhead Components
Your overhead costs fall into three main categories that directly impact profitability. Fixed overhead includes expenses that stay constant regardless of sales volume—rent, insurance premiums, and salaried administrative staff. Variable overhead fluctuates with business activity, such as utilities that increase during busy seasons or office supplies that scale with employee count. Semi-variable overhead combines elements of both, like a phone plan with a base rate plus usage charges.
Most small business owners mistakenly include direct costs in their overhead calculations. Direct costs like raw materials, production labor, and shipping fees belong in your cost of goods sold (COGS), not overhead. This distinction matters because mixing these categories inflates your overhead rate and obscures your true operational efficiency. A manufacturing client once showed me overhead calculations including steel costs—after correcting this, their actual overhead dropped from 45% to 28%, revealing a much healthier business than they thought.
The most straightforward calculation divides total monthly overhead by gross sales revenue. A boutique clothing store with $15,000 in monthly overhead and $75,000 in sales has a 20% overhead rate ($15,000 ÷ $75,000 × 100 = 20%). This method works best for retail businesses, restaurants, and companies with consistent sales patterns.
Track this metric monthly to spot trends. One Complete Controller client discovered their overhead jumped from 22% to 31% during slow months, prompting them to negotiate variable rent terms with their landlord based on sales performance. This single change saved them $18,000 annually during off-peak seasons.
The labor-based overhead rate formula
Service businesses often prefer calculating overhead per labor hour or as a percentage of labor costs. A consulting firm with $25,000 monthly overhead and 1,000 billable hours calculates a $25 per hour overhead burden. This helps set accurate hourly rates that cover all costs plus profit margins.
For percentage-based calculations, divide overhead by total labor costs. An accounting firm with $30,000 overhead and $100,000 in labor expenses has a 30% labor-based overhead rate. This method reveals whether your team generates enough revenue to justify indirect support costs.
Activity-based overhead allocation
Modern businesses increasingly use activity-based costing to assign overhead more precisely. Instead of spreading costs evenly, you allocate overhead based on actual resource consumption. A digital marketing agency might assign overhead based on client project hours, server usage, and software licenses per account.
This granular approach prevented a Complete Controller client from underpricing their smallest accounts. They discovered these clients consumed 40% more overhead per revenue dollar than larger accounts, leading to minimum service fees that improved profitability by $8,000 monthly.
Industry Benchmarks and Overhead Standards
Recent data shows 24% of small businesses cite inflation as their top challenge impacting overhead costs, with typical rates now ranging from 36.31% to 72.97% across industries—well above the traditional 35% ceiling many advisors recommend. These higher figures reflect post-pandemic realities including increased technology costs, remote work infrastructure, and supply chain complexities.
Service industry overhead rates
Professional services maintain the lowest overhead percentages:
Consulting firms: 15-25%
Accounting practices: 20-30%
Marketing agencies: 25-35%
IT services: 20-30%
Low overhead stems from minimal inventory requirements and virtual service delivery options. A marketing agency called Polongo cut their overhead by 20% through strategic changes—renegotiating software contracts saved $2,000 monthly, switching to remote work eliminated $5,000 in office costs, and consolidating tools reduced expenses by another $1,500.
Retail and manufacturing standards
Physical product businesses face higher overhead burdens:
Retail stores: 25-35%
E-commerce businesses: 20-30%
Light manufacturing: 30-40%
Heavy manufacturing: 35-50%
A Polish manufacturing firm achieved remarkable results by reducing overhead 30% through operational improvements. They streamlined shift patterns, reduced equipment changeover times, and optimized workflow layouts. These productivity gains freed up $50,000 monthly for expansion into new product lines.
Regional and size variations
Geographic location significantly impacts overhead rates. Urban businesses typically run 10-15% higher overhead than rural counterparts due to rent premiums and higher wages. Company size also matters—businesses under $1 million revenue average 42% overhead, while those over $5 million often achieve 25% through economies of scale.
Proven Overhead Reduction Strategies
Fixed cost optimization techniques
Start your overhead reduction journey with fixed costs since these offer the most predictable savings. Renegotiate every contract annually—insurance, rent, software subscriptions, and service agreements. One retail client saved $3,000 monthly by bundling insurance policies and switching to annual software payments for 20% discounts.
Consider these high-impact tactics:
Sublease unused space or downsize locations
Switch to cloud-based systems eliminating server costs
Zero-based budgeting forces you to justify every expense from scratch each year. This approach helped a Complete Controller client identify $7,000 in monthly subscriptions for unused services—from forgotten software licenses to redundant insurance coverage.
Variable cost management
Variable overhead requires different tactics focused on efficiency rather than elimination. Energy costs respond well to LED lighting upgrades, programmable thermostats, and off-peak usage scheduling. One manufacturer reduced electricity costs 35% by shifting non-critical operations to evening hours with lower rates.
Implement usage-based policies for supplies and services. Track actual consumption patterns before setting budgets. A law firm discovered partners used 3x more office supplies than associates, leading to individual supply budgets that cut costs 25% without impacting operations.
Technology and automation solutions
Modern technology offers powerful overhead reduction opportunities. Cloud accounting software eliminates bookkeeping errors that cost small businesses an average of $10,000 annually. Automated billing systems reduce collection times from 45 to 22 days, improving cash flow for reinvestment.
Consider these automation investments:
Customer relationship management (CRM) systems
Automated inventory management
Digital document management
Online scheduling and booking systems
Automated marketing platforms
The key lies in selecting tools that integrate seamlessly. Disconnected systems create data silos that increase rather than decrease overhead through duplicate work and reconciliation needs.
Using Overhead Rates for Pricing and Profitability
Strategic pricing formulas
Accurate overhead allocation transforms pricing from guesswork to science. The complete pricing formula includes: Direct Costs + (Overhead Rate × Direct Costs) + Desired Profit Margin = Selling Price. A landscaping company with $50 direct costs per job, 30% overhead rate, and 25% profit target prices at $50 + ($15 overhead) + ($16.25 profit) = $81.25.
Many businesses underprice by ignoring overhead in quotes. A Complete Controller client discovered they quoted projects at 15% margins but actually lost money after overhead allocation. Implementing proper pricing formulas increased their net profit from 2% to 18% within six months.
Project and customer profitability analysis
Apply overhead rates to evaluate individual projects and customers. A graphic design firm found their smallest clients generated negative profits after overhead allocation, despite positive gross margins. They instituted minimum project fees and annual retainers, transforming these accounts into profitable relationships.
Create a customer profitability matrix:
Calculate direct costs per customer
Allocate overhead based on resource usage
Compare total costs to revenue
Identify and address unprofitable relationships
Reward and retain highly profitable accounts
Break-even analysis integration
Your overhead rate directly impacts break-even calculations. Higher overhead means needing more sales to cover fixed costs. A restaurant with $40,000 monthly overhead and 60% gross margins needs $66,667 in sales to break even ($40,000 ÷ 0.60). Reducing overhead to $35,000 drops break-even to $58,333—making profitability achievable with 12% less revenue.
Common Overhead Management Mistakes
Misclassifying expenses
The most expensive mistake involves treating variable costs as fixed or vice versa. A printing company classified ink as overhead rather than direct materials, inflating overhead rates and underpricing large jobs. Correcting this misclassification revealed their actual overhead was 18% not 35%, completely changing their competitive position.
Watch for these classification errors:
Including owner salary in overhead (should be separate)
Mixing production utilities with office utilities
Counting sales commissions as overhead
Including freight costs in overhead calculations
Misallocating shared employee time
Ignoring seasonal variations
Overhead rates fluctuate throughout the year, yet many businesses use annual averages for all decisions. A lawn care company with 25% overhead in summer might hit 60% in winter when revenue drops but fixed costs remain. Plan for these variations through flexible staffing, seasonal pricing, and cash reserves.
In 2024, 23% of small businesses named inflation their primary overhead driver, up from 17% in 2022—a 35% increase demanding dynamic rather than static overhead management. Build quarterly overhead reviews into your planning cycle to catch trends before they impact profitability.
Overlooking hidden overhead costs
Many overhead expenses hide in plain sight. Employee turnover costs—including recruiting, training, and productivity losses—average 33% of annual salary per departure. A company with 10 employees and 20% turnover spends an invisible $20,000+ yearly on replacement costs.
Other frequently missed overhead includes:
Credit card processing fees (2-4% of revenue)
Inventory carrying costs (20-30% of value)
Quality control and rework expenses
Compliance and regulatory costs
Opportunity costs of owner time
Advanced Overhead Analysis Techniques
Overhead variance analysis
Compare actual overhead to budgeted amounts monthly to spot problems early. A favorable variance means spending less than planned, while unfavorable variances signal overspending. Set 5% as your variance threshold—anything beyond triggers investigation.
Create variance reports showing:
Budget vs. actual by category
Percentage and dollar variances
Year-over-year comparisons
Trending patterns
Root cause explanations
One manufacturer discovered $4,000 monthly unfavorable variances in maintenance costs. Investigation revealed deferred preventive maintenance causing expensive emergency repairs. Implementing scheduled maintenance reduced costs 30% while improving equipment reliability.
Overhead absorption rates
Manufacturing and project-based businesses benefit from predetermined overhead rates. Calculate expected annual overhead divided by estimated activity base (labor hours, machine hours, or units). This rate gets applied to jobs throughout the year, with adjustments at period-end for over or under-absorption.
A cabinet shop set a $45 per labor hour overhead rate based on 10,000 expected annual hours. Actual hours reached 11,000, creating $45,000 in over-absorbed overhead—pure profit from spreading fixed costs across more production.
Competitive overhead benchmarking
Study competitor overhead structures through industry reports, financial statements, and professional associations. Join trade groups sharing anonymized financial data for benchmarking. Understanding competitor overhead helps identify improvement opportunities and pricing strategies.
Implementing Overhead Tracking Systems
Selecting the right tools
Choose overhead expenses in small business management software matching your business complexity. Simple service businesses might use spreadsheets, while manufacturers need robust cost accounting systems. Essential features include:
Real-time expense tracking
Category customization
Multi-location capabilities
Integration with existing systems
Automated report generation
Popular options range from QuickBooks ($25/month) for basic needs to NetSuite ($999+/month) for complex operations. The investment pays for itself through improved visibility and control.
Creating actionable reports
Design overhead reports that drive decisions, not just document history. Include trend lines, ratio analyses, and exception highlighting. A construction company’s one-page overhead dashboard shows:
Current month overhead rate with traffic light indicators
12-month trending graph
Top 5 expense categories with variances
Overhead per project type
Action items for unfavorable variances
Schedule monthly overhead review meetings. Make them brief but mandatory, focusing on variances and improvement opportunities. One Complete Controller client reduced overhead 15% simply through increased visibility and accountability from regular reviews.
Building an overhead-conscious culture
Transform overhead management from a finance function to a company-wide mindset. Share overhead metrics openly, celebrate cost savings, and reward efficiency improvements. Create overhead reduction suggestion programs with shared savings incentives.
Train employees on overhead impacts through budgeting for small businesses workshops. When team members understand how their actions affect overhead, they make better daily decisions. A distribution center reduced overhead 12% after warehouse staff suggested consolidating shipments and optimizing delivery routes.
Final Thoughts
After two decades helping businesses master their finances, I’ve learned that overhead management separates thriving companies from struggling ones. The businesses that systematically track, analyze, and optimize their overhead rates consistently outperform their peers—not through massive changes but through dozens of small improvements compounding over time.
Start your overhead transformation today with these three steps: First, calculate your current overhead rate using the formulas provided. Second, compare your rate to industry benchmarks to identify improvement potential. Third, implement one cost reduction strategy this month—even a 2% improvement drops straight to your bottom line.
Your overhead rate tells a story about operational efficiency, pricing accuracy, and profit potential. Master this metric, and you’ll discover hidden profits throughout your business. The tools and strategies exist—success depends on taking action. For personalized guidance on optimizing your overhead structure and maximizing profitability, connect with our team of experts at Complete Controller who can help you implement these strategies with precision.
FAQ
How do I calculate overhead rate for a small business?
Divide your total monthly overhead costs by your monthly sales revenue, then multiply by 100. For example, if you have $10,000 in overhead and $50,000 in sales: ($10,000 ÷ $50,000) × 100 = 20% overhead rate.
What’s a good overhead percentage for a small business?
Target 10-30% depending on your industry. Service businesses typically achieve 10-20%, retail aims for 20-30%, and manufacturing often runs 25-35%. Any rate above 35% signals a need for cost reduction strategies.
Should I include my salary in overhead calculations?
Owner salaries should be tracked separately from overhead for accurate analysis. Include administrative staff salaries in overhead, but keep owner compensation as a distinct line item to better evaluate true operational efficiency.
How often should I calculate and review overhead rates?
Calculate overhead rates monthly and conduct thorough reviews quarterly. Monthly tracking catches trends early, while quarterly analysis provides enough data to identify patterns and make strategic adjustments.
What’s the difference between overhead rate and markup?
Overhead rate measures indirect costs as a percentage of sales or labor. Markup is the amount added to direct costs to cover both overhead and profit. A 25% overhead rate might require a 40% markup to achieve desired profit margins.
Sources
CFODive. “Small business uncertainty hits record high: NFIB.” 2024. https://www.cfodive.com/news/small-businesses-uncertainty-hits-record-high-nfib-inflation-jobs-employment-Fed-Federal-Reserve/729270/
QuickBooks. “How to Calculate Overhead Costs: Essential Formulas for 2025.” 2025. https://quickbooks.intuit.com/r/expenses/how-to-calculate-overhead-costs/
SMB Compass. “A Guide to Overhead Costs for Small Businesses.” 2022. https://www.smbcompass.com/an-entrepreneurs-guide-to-overhead-costs-for-small-businesses/
U.S. Small Business Administration. “Analyze Your Costs.” 2024. https://www.sba.gov/business-guide/manage-your-business/analyze-your-costs
Wall Street Prep. “Overhead Costs | Formula + Calculator.” 2024. https://www.wallstreetprep.com/knowledge/overhead-costs/
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
