- 68
- 21 040
Momentum Accounting
United States
เข้าร่วมเมื่อ 18 ก.ค. 2022
Tech Savvy. Number Savvy. Business Savvy. We do business accounting differently. Follow for expert financial and accounting tips with Momentum CEO Nikole Mackenzie.
If you are like many business owners, the last thing you want to think about is your accounting.
Maybe you’ve asked your CPA firm to handle it but their team doesn’t really understand your business and can't help with things like technology recommendations or best practices around invoicing, bill pay, and reporting.
Maybe your office manager or spouse is handling the day-to-day but you can't seem to get a grasp on your true profitability or cash flow.
Maybe you want to get a loan or sell your business, but you can't because your financials won't pass due diligence.
Maybe you've had an in-house bookkeeper or controller for years, but they want to retire soon and you're stressed out about the transition.
Maybe you just haven’t found Momentum Accounting…
If you are like many business owners, the last thing you want to think about is your accounting.
Maybe you’ve asked your CPA firm to handle it but their team doesn’t really understand your business and can't help with things like technology recommendations or best practices around invoicing, bill pay, and reporting.
Maybe your office manager or spouse is handling the day-to-day but you can't seem to get a grasp on your true profitability or cash flow.
Maybe you want to get a loan or sell your business, but you can't because your financials won't pass due diligence.
Maybe you've had an in-house bookkeeper or controller for years, but they want to retire soon and you're stressed out about the transition.
Maybe you just haven’t found Momentum Accounting…
Episode 22 Tired of your bank's old tech? Consider a Neobank
In this episode, Scott and Nikole discuss the emergence and benefits of neobanks for small business owners. They cover the advantages of using these 100% online platforms, the differences between neobanks and traditional banks, and the potential risks involved.
Whether you're frustrated with traditional banks or looking to better manage your extra cash, this episode is packed with valuable insights on leveraging neobanks for your business.
Chapters:
0:00 Introduction
00:59 Episode Overview
02:24 Benefits of Neobanks
05:18 Using Neobanks for Business
05:50 Popular Neobank Options
10:49 Risks and Considerations
15:45 Conclusion
📣 Shout Outs:
Relay, Brex, Chime, Novo, North One, and Mercury
⬇️Videos Referenced⬇️
Episode 20 - What if you have TOO MUCH Cash? 6 Ways to Use Excess Cash
[th-cam.com/video/-YugsUx96Tc/w-d-xo.html]
🔗 Connect With Us On Linkedin! 🔗
Nikole Mackenzie
📎 www.linkedin.com/in/nikolemackenzie/
Momentum Accounting
📎 momentumaccounting.com/
Scotty OKR Scarano
📎 www.linkedin.com/in/scottscarano/
Padgett NC
📎 www.padgettnc.com
Accounting High
📎 www.linkedin.com/company/accounting-high/
📎 www.accountinghigh.com/
Tags:
Neobank, Fintech, Cashflow, Banking, Technology, Online, Business, Startup, Accounts, Payroll, FDIC, Relay, Mercury, Security, Innovation, Turnaround, Profitability, Episode, Financials, Remote
Whether you're frustrated with traditional banks or looking to better manage your extra cash, this episode is packed with valuable insights on leveraging neobanks for your business.
Chapters:
0:00 Introduction
00:59 Episode Overview
02:24 Benefits of Neobanks
05:18 Using Neobanks for Business
05:50 Popular Neobank Options
10:49 Risks and Considerations
15:45 Conclusion
📣 Shout Outs:
Relay, Brex, Chime, Novo, North One, and Mercury
⬇️Videos Referenced⬇️
Episode 20 - What if you have TOO MUCH Cash? 6 Ways to Use Excess Cash
[th-cam.com/video/-YugsUx96Tc/w-d-xo.html]
🔗 Connect With Us On Linkedin! 🔗
Nikole Mackenzie
📎 www.linkedin.com/in/nikolemackenzie/
Momentum Accounting
📎 momentumaccounting.com/
Scotty OKR Scarano
📎 www.linkedin.com/in/scottscarano/
Padgett NC
📎 www.padgettnc.com
Accounting High
📎 www.linkedin.com/company/accounting-high/
📎 www.accountinghigh.com/
Tags:
Neobank, Fintech, Cashflow, Banking, Technology, Online, Business, Startup, Accounts, Payroll, FDIC, Relay, Mercury, Security, Innovation, Turnaround, Profitability, Episode, Financials, Remote
มุมมอง: 13
วีดีโอ
Episode 21 What to do when you're RUNNING OUT OF CASH! !
มุมมอง 15วันที่ผ่านมา
Join hosts Nikole Mackenzie and Scotty 'OKR' Scarano on the Cash Flow Show as they dive into crucial strategies for managing cash flow crises. Explore short-term and long-term options and discover actionable insights to help turn your business around and ensure long-term financial stability. Chapters: 0:00 Teaser 00:51 Introduction 01:10 Meet Your Hosts: Scott and Nikole 01:47 Addressing Cash F...
Episode 20 What if you have TOO MUCH Cash 6 Ways to Use Excess Cash
มุมมอง 15วันที่ผ่านมา
Scotty and Nikole discuss smart strategies for managing excess cash in your business. From saving and paying off debt to investing in your business, personal investments, and even philanthropic efforts, they cover six effective ways to use your surplus cash. Chapters: 0:00 Teaser 01:28 Hosts' Banter and Episode Milestone 02:15 Managing Excess Cash: Six Smart Strategies 03:08 How Much is Too Muc...
Episode 19 - Creating a Walkaway Price Understanding the Basics of Pricing Part 2
มุมมอง 24814 วันที่ผ่านมา
Join hosts Nikole Mackenzie and Scotty 'OKR' Scarano on episode 19 of the Cash Flow Show as they dive deep into the intricacies of pricing strategies. This episode focuses on setting a 'walkaway price' to ensure your business remains profitable. Learn how to determine your lowest acceptable rate, understand the impact of costs and business models on pricing, and explore various tactics to maint...
Episode 018 Pricing Strategies for Professional Service Businesses
มุมมอง 2614 วันที่ผ่านมา
In this episode, Nikole Mackenzie and Scotty 'OKR' Scarano dive into pricing strategies for service-based businesses. They explore the pros and cons of various pricing models, from time-based and fixed fee pricing to subscription and value-based pricing. Through engaging anecdotes and real-life examples, they shed light on the importance of understanding the market, setting a foundational price...
Episode 017 Getting Your Business Ready to Sell
มุมมอง 1514 วันที่ผ่านมา
Nikole Mackenzie and Scotty 'OKR' Scarano dive deep into what every business owner needs to know about preparing to sell their business. They cover the foundational steps to not only making your business more attractive to prospective buyers but also ensuring you maximize its value. From the importance of having clean and accurate financial statements to avoiding common pitfalls that can dimini...
Episode 016 How to Guarantee 20% Profit from your Business, a deeper dive into the 50 30 20 Rule
มุมมอง 2721 วันที่ผ่านมา
Do you know what to do when profit is too low? What about if it’s too high? Learn how to identify cash flow issues, fix them and better implement the 50-30-20 Rule to guarantee 20% profit from your business with Nikole Mackenzie and Scotty 'OKR' Scarano on the Cash Flow Show! Chapters: 0:00 Teaser 01:27 Introduction 03:42 COGS Recap 08:06 Example Service Based Business 11:03 Partnership Example...
Episode 015 - 7 Signs Your Business Needs a Controller
มุมมอง 1821 วันที่ผ่านมา
Don't miss this episode of the Cash Flow Show, where Nikole Mackenzie and Scotty 'OKR' Scarano equip you with the knowledge to identify signs that may indicate the need for a controller, paving the way for improved financial health and success. Chapters: 00:00 Teaser 01:44 Introduction 03:11 What's a Controller? 06:18 First Sign 08:39 Sign 2 09:51 Cash Flow Sheet 10:53 Sign 3 14:45 Sign 4 17:01...
Episode 014 Can I afford to hire an employee?
มุมมอง 1721 วันที่ผ่านมา
Join hosts Nikole Mackenzie and Scotty 'OKR' Scarano in this episode of the Cash Flow Show as they help you know if you can afford to hire a new employee as a follow up from the previous episode where they helped you find out who to hire. Chapters: 00:00 Teaser 01:56 Introduction 02:40 Understanding the True Cost of Hiring 05:22 Hiring for a Service Not Yet Provided 08:58 Hiring for an Existing...
Episode 012 Marketing strategies & budgeting tips for service businesses
มุมมอง 2328 วันที่ผ่านมา
Episode 012 Marketing strategies & budgeting tips for service businesses
How Much Should I Spend on Marketing? Get your Marketing ROI Calculator
มุมมอง 15928 วันที่ผ่านมา
How Much Should I Spend on Marketing? Get your Marketing ROI Calculator
Why Am I Profitable but Have No Cash? A Simple Trick for Explaining Cash Flow Statements to Clients
มุมมอง 100หลายเดือนก่อน
Why Am I Profitable but Have No Cash? A Simple Trick for Explaining Cash Flow Statements to Clients
Don't miss this step when onboarding clients! Use Org Charts to Identify Direct vs. Overhead Staff
มุมมอง 41หลายเดือนก่อน
Don't miss this step when onboarding clients! Use Org Charts to Identify Direct vs. Overhead Staff
Why companies that grow too quickly go bankrupt - understanding Cash Conversion Cycle
มุมมอง 1442 หลายเดือนก่อน
Why companies that grow too quickly go bankrupt - understanding Cash Conversion Cycle
Use this hack to handle estimated tax payments and plan for the cash outflow
มุมมอง 2432 หลายเดือนก่อน
Use this hack to handle estimated tax payments and plan for the cash outflow
My quick hack for fixing profitability problems (application of the 50-30-20 rule)
มุมมอง 592 หลายเดือนก่อน
My quick hack for fixing profitability problems (application of the 50-30-20 rule)
Why you should be breaking out your R&D costs on your Income Statement
มุมมอง 1422 หลายเดือนก่อน
Why you should be breaking out your R&D costs on your Income Statement
This is why business owners are frustrated with accountants
มุมมอง 3982 หลายเดือนก่อน
This is why business owners are frustrated with accountants
Episode 011 Do you really need a Cash Flow Forecast?
มุมมอง 193 หลายเดือนก่อน
Episode 011 Do you really need a Cash Flow Forecast?
Episode 010 Avoid these mistakes when buying Accounting Services
มุมมอง 223 หลายเดือนก่อน
Episode 010 Avoid these mistakes when buying Accounting Services
Episode 007 Roles in an Accounting Department
มุมมอง 884 หลายเดือนก่อน
Episode 007 Roles in an Accounting Department
Episode 008 The 5 KPIs every business should be tracking
มุมมอง 354 หลายเดือนก่อน
Episode 008 The 5 KPIs every business should be tracking
Episode 007 Roles in an Accounting Department
มุมมอง 364 หลายเดือนก่อน
Episode 007 Roles in an Accounting Department
Episode 006 Building the Ultimate Accounting Tech Stack
มุมมอง 444 หลายเดือนก่อน
Episode 006 Building the Ultimate Accounting Tech Stack
Intro to the "50-30-20" rule - The formula for guaranteeing 20% net profit in your business
มุมมอง 2725 หลายเดือนก่อน
Intro to the "50-30-20" rule - The formula for guaranteeing 20% net profit in your business
Cash Flow Show E003 Paying Yourself as an S Corp Owner
มุมมอง 255 หลายเดือนก่อน
Cash Flow Show E003 Paying Yourself as an S Corp Owner
Great content, super informative!
Well said.
Another subject that I'd love to see you cover is sale tax and employee vs. contractor pitfalls that tend to affect businesses. For example, what categories of services might businesses not be charging sales tax for that they should've been? What are some of the guidelines that mean someone should be categorized as an employee vs a contractor?
Thanks for the rec Tim! Sounds like we need to do a compliance episode.
Soon
Thank you for sharing. ❤
Ypu look like heroin.. but I can't understand what you said...
Good info, Nikole. This sneaks up on so many small businesses or they don't know how to plan for it so they just let the date pass by.
Hey can you explain why your are not calc q1 dso? And what if im calculating monthly dso and revenue for the month is zero what should i do?
I've heard many interpretations and descriptions of controllers. This explanation is RIGHT on. Thank you so much for this video!!
Happy to help!
A smart lady wow.
intro is 🔥
I'm trying to convert many of my clients to accrual for tax reporting purposes
I think you explained every single role in this video. From bookkeeper to CFO and others. 3 mins full imformative. Thanks
"Promosm" 😥
Just to confirm, as an s corp you can pay yourself a salary and take a distribution?
Yeah u get both. Just taking a distribution is better for us but the govt wants their cut so u pay urself salary which is hit with 16% tax 8 on ur side 8 on business. Makes sense to keep salary low and distribute more.
@@parmsingh9773 the problem is if you keep salary below "reasonable", then excess or exorbitant distributions and profit can be viewed as evading SECA.
One SHOULD pay yourself a payroll if you WANT social security income during your retirement years. Even if you pay FICA as an employer, it’s a simple tax expense write off.
Great advice Nikole!
hi Nikole
🙃 Promo-SM
Great video, but I think tax is the fun part of accounting! I'll partner with you any day of the week. In fact, I have some clients I'd love to refer to you, but I think they might be too small for you.
Nice!
KISS keep it simple salesman!
Good stuff! Can you share more what data goes into a good forecast?
Sure! I'll do a video on that topic :)
Great video Nikole! I shared it on Twitter since you're not as active over there.
Amazing thank you!
Thanks for sharing, great video on how a controller can help your business :)
🙂 Promo sm
You made a great summary of the accounting duties to be taken care of every month.
Great tips!
It is what it is. Thanks for sharing your knowledge! This is something hard for companies to understand!
You’re hired!