Posts by Donna Schenkel

In our recent webinar, Mastering Bank Negotiations, we tackled one of the most common blind spots for business owners: financial clarity. “Profit is like oxygen – your business can’t hold its breath for long without it.” To successfully negotiate with banks and lenders, you must stop viewing your financials as just numbers for your accountant. They…

As we enter 2025, cost control is emerging as the critical focus for contractors to thrive in an increasingly competitive and challenging market. Rising labour costs, supply chain pressures, risk of Trump & potential tariffs, and tighter margins make this theme more relevant than ever.  Just passing on increased costs to the customer will not be answer! At Southbrook Accounting Services we’ve…

BOOST YOUR CASH FLOW: 6 PROVEN STRATEGIES TO IMPROVE AR FOR SMALL BUSINESSES 1.  Implement Clear Credit Policies & Processes with the Client: 2.  Streamline Invoicing Process: 3.  Offer Early Payment Incentives: 4.  Enhance Collection Efforts: 5.  Monitor and Analyze AR Aging Reports: 6.  Leverage Technology and AR Management Tools: By implementing these strategies, small…

Nathan’s Top 10 Tips for Business Success 1.  Make a business plan – Don’t wing it and take a dodgeball to the side of your head.2.  Know your Numbers! – Get your bookkeeping and pricing right AND don’t discount! 3.  Create a To Do List for Tomorrow – Make it as short as possible, knock out the list before noon4.  Take Care…

Unlock Financial Success: 📈 Know Your Numbers & Nathan’s Top 10 Bookkeeping Practices 📚 As a small business owner myself, operating in the landscape and irrigation industry, I understand the challenges and the importance of being intimately familiar with your business’s financial health. Here are key reasons why knowing your numbers is not just important,…

Top 3 Types of Audits for a Contracting Business Operating your business  in 2023 can be demanding and stressful.  And while managing your finances is crucial, it’s equally important to understand the potential tax audits that the Canada Revenue Agency (CRA) may conduct. In this blog post, we will explore the top three types of…