Timely Financials-1

Welcome to


The Learning Center

One of our core values is empowerment through education - it means a lot to us.

The Learning Center was made as a resource for business owners and inquisitive individuals who want to learn more about the current world of taxes and accounting.  If that sounds like you, you're in the right place.

Reach out if you have any questions.  Thanks!

2 min read

Establishing an advisory structure for your small business

By Sean DiMercurio CPA CGMA on May 19, 2020

When you’re planning for success, it’s important to keep your eye on the big picture. This means developing your business in ways that will help growth and could mean appointing advisors to help you.

Topics: Running Your Business
2 min read

Measuring the health of your business

By Sean DiMercurio CPA CGMA on May 12, 2020

When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Knowing where you’re allows for more effective planning, early warning about any issues, and the chance to better chart a course for success.

Topics: Accounting Cash Flow Running Your Business
2 min read

Keeping your tax and expenses in check when you are self-employed

By Sheila Malavet on May 05, 2020

Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits.

Topics: Accounting Cash Flow Running Your Business
1 min read

The value of real-time management reporting

By Sheila Malavet on Apr 28, 2020

Improving your financial efficiency requires a clear overview of your key numbers, so you can track your performance and drive improvements.

Topics: Accounting Cash Flow Running Your Business
2 min read

Forecasting cash flow

By Sean DiMercurio CPA CGMA on Apr 21, 2020

Cash flow is the lifeblood of your business. And when it comes to cash flow management, preventing cash issues is far easier than trying to solve these issues after the event.

Topics: Accounting Cash Flow Running Your Business
1 min read

Cost management and cutting your expenses

By Sean DiMercurio CPA CGMA on Apr 14, 2020

Operational costs will be one of the biggest areas of expenditure in your business. And the more it costs you to produce your products and/or services, the smaller your end profit will be.

Topics: Accounting Cash Flow Running Your Business
2 min read

Keeping debt low through proactive credit control

By Sheila Malavet on Apr 07, 2020

Having a large amount of debt in your business is bad for cashflow, weakens your overall financial health and brings down your credit score as a business.

Topics: Accounting Cash Flow Running Your Business
2 min read

Tax Credit Pays for Keeping Employees on Payroll

By John Kirkland on Apr 01, 2020

To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations.

Topics: Payroll Tax - Business Running Your Business Coronavirus
2 min read

Taking the pain out of pricing - how much should you charge?

By Sheila Malavet on Mar 31, 2020

Figuring out how much to charge is a big learning curve for any business owner. The answer to how to approach it will fluctuate as circumstances and markets change. It is important to revisit the question throughout the lifecycle of your business.

There is no magic formula

All businesses are unique, with an individual offering of products and services. Before you set your pricing, It’s important to look at the whole picture. This will help to ensure you are being strategic and not just following trends.

Gather the data

To get started, you need to gather as much information as possible. Block out some time to sit down with your business data and strategies. Pricing is essentially figuring out where your products and services are positioned in the market. So keep your business strategies top of mind. It doesn’t have to be a confusing exercise. Just grab a coffee get started.

Here are the first steps to consider:

  1. Record all the costs involved in production. Make sure you include indirect costs, such as assets, insurances, licenses and legal costs.
  2. Now that you have your outlay, consider your current profit margin or what margin you require. Remember there is a difference between net and gross profit margins. Net margins take all operating costs into account.
  3. Do your competitor research. Be thorough in understanding the market and what others are charging for the same service or product or variations of this. What unique selling points (USPs) does your business have that allow you to vary your prices?
  4. Think about your offerings. What extra benefits or offerings do you have that can affect your pricing? Think about cheap and no-frills on one end of the spectrum, versus high-end premium products. Can you create different products at different prices to cater to different segments of the market?

Don’t forget to check in on your pricing regularly to make sure you’re keeping up with your customers and staying ahead of the game.

Have a question?

We'd love to hear from you!  Feel free to contact us or reach out to your THG team member today!

Topics: Running Your Business