O'Dell Cross, A Professional Corporation

Our office is closed today, Monday Jan 3. Happy New Year!!Our office is closed today, Monday Jan 3. Happy New Year!!

We are closed today, Monday Dec. 27, 2021.We are closed today, Monday Dec. 27, 2021.

In addition to the traditional financial statements, you will want industry specific reports to allow you to compare your company's performance to that of others. You will also want to learn the key ratios and the value of those ratios in month-to-month and year-to-year comparisons of your company's performance. Here are several key ratios and trend indicators. Keep in mind that a change in one of these indicators from one accounting period to another, or a significant differ...ence between your company and the industry average, is what makes the measurement useful. Check these ratios and reports to see which are the best for monitoring your company's performance. Net profit margin In its simplest form, this is net income divided by sales. Every manager wants to know if his or her business can do better and how the business compares with similar businesses in the industry and in the community. When comparing your company to its past performance, an upward trend in this ratio is certainly desirable. Inventory turnover ratio This is the cost of goods sold for the accounting period divided by the average of inventory at the beginning and end of the accounting period. This ratio is an excellent indicator of trends in sales volume. Assuming the same price markup on your products, the higher the inventory turnover ratio, the better. Accounts receivable turnover ratio This is computed by dividing the credit sales for the accounting period by the average of the outstanding accounts receivable at the beginning and the end of the accounting period. These numbers are most useful when compared to industry standards and your own company's past performance. You should also prepare an accounts receivable aging list. This tracks the balances in the 30-day-old, the 60-day, and the 90-day-or-older categories. In general, the older the account receivable, the less likely you are to collect it. This is one set of numbers your banker will want to see when you ask for additional operating funds. Have questions? Email us at [email protected] Need business guidance? Tap or click this link: numberswithnikki.com #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

In addition to the traditional financial statements, you will want industry specific reports to allow you to compare your company's performance to that of others. You will also want to learn the key ratios and the value of those ratios in month-to-month and year-to-year comparisons of your company's performance. Here are several key ratios and trend indicators. Keep in mind that a change in one of these indicators from one accounting period to another, or a significant differ...ence between your company and the industry average, is what makes the measurement useful. Check these ratios and reports to see which are the best for monitoring your company's performance. Net profit margin In its simplest form, this is net income divided by sales. Every manager wants to know if his or her business can do better and how the business compares with similar businesses in the industry and in the community. When comparing your company to its past performance, an upward trend in this ratio is certainly desirable. Inventory turnover ratio This is the cost of goods sold for the accounting period divided by the average of inventory at the beginning and end of the accounting period. This ratio is an excellent indicator of trends in sales volume. Assuming the same price markup on your products, the higher the inventory turnover ratio, the better. Accounts receivable turnover ratio This is computed by dividing the credit sales for the accounting period by the average of the outstanding accounts receivable at the beginning and the end of the accounting period. These numbers are most useful when compared to industry standards and your own company's past performance. You should also prepare an accounts receivable aging list. This tracks the balances in the 30-day-old, the 60-day, and the 90-day-or-older categories. In general, the older the account receivable, the less likely you are to collect it. This is one set of numbers your banker will want to see when you ask for additional operating funds. Have questions? Email us at [email protected] Need business guidance? Tap or click this link: numberswithnikki.com #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

Today is a great day to start working towards your goals! #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

Today is a great day to start working towards your goals! #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

The weekend is your time to celebrate everything you've accomplished this week #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

The weekend is your time to celebrate everything you've accomplished this week #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

Love your business & it will love you back! #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

Great things in business are never done by one person; they’re done by a team of people. Steve Jobs #beresilient #bridgetheoverwhelm... #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield See more

Happiness is a place between too little and too much. #sundayquotes #beresilient #bridgetheoverwhelm #letourfamilyhelpyours... #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield See more

Happy Saturday! #beresilient #bridgetheoverwhelm #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield

#flashbackfriday Can't wait to see these ladies again! #beresilient #bridgetheoverwhelm... #letourfamilyhelpyours #accountinglife #bakersfieldlife #wearehereforyou #taxseason #taxprep #taxoffice #taxadvice #smallbusiness #peaceofmind #moneymatters #helpingpeople #financialplanning #financialliteracy #familyowned #budgeting #bookkeeping #accountantlife #accountantfriends #accountantbyday #officeinspo #officelife #booksandbalances #kerncounty #bakersfield See more

Good morning. Start where you are, use what you have, do what you can. Happy Sunday.

If you run a business or are self-employed, the costs you incur to run your business are business expenses. Some necessary and ordinary business expenses are tax-deductible. Have questions? Email us at [email protected] ... Need business guidance? Tap or copy this link: numberswithnikki.com See more

Be encouraged. Stay on your hustle. Need business guidance? numberswithnikki.com

Owning a pet may improve your quality of life, but it probably won't be cheap. Basic food, supplies, medical care and training can cost hundreds of dollars. Add to that surgeries, grooming, kennel boarding and miscellaneous costs, and you may end up spending much more than you anticipated to keep your pet healthy and happy throughout its life. Fortunately, many of the costs associated with responsible pet ownership can be controlled, or at least reduced. Here are a few ideas:... * Adopt an animal. Not only are you helping to stop factory-style breeding when you adopt an animal from a humane society or a rescue organization, you may save some money. Often spay/neuter procedures and vaccinations have already taken place before you adopt an animal. And in some cases, the animals have already been through training classes. * Spay/neuter. If you do own an animal that has yet to spayed/neutered, you'll find that some animal shelters provide this procedure at relatively low cost. Getting your dog or cat "fixed" may also mean fewer health problems down the road. * Buy food in bulk. For most pet owners, food is their largest ongoing expense. So reducing that cost often generates the greatest savings. Although big-box retailers offer substantial cost reductions for large quantities of pet food, it always makes sense to shop around. (Specialty stores have sales, too.) * Generally speaking, the more you buy, the cheaper the food. But be careful. Though there's no legal definition of "premium" in terms of pet food nutritional quality, think twice before grabbing the cheapest bag off the shelf. Long-term health problems may result from routinely feeding non-nutritional meals food that's mostly filler to your animal. * Exercise! Regular exercise and routine veterinary visits often reduce long-term health care costs. * Don't forget mouth health. Severe gingivitis may lead to serious health problems in your pet, including kidney and lung disease. If you don't want to brush your dog's ivories, consider dental chews that release teeth-cleaning enzymes. * Consider pet insurance pros and cons. Budgeting and contributing to your own "pet emergency fund" may be cheaper than paying insurance premiums. Research pet insurance options and then do the math before buying. Have questions? Email us at [email protected] Need business guidance? Tap or copy this link: numberswithnikki.com

Due to the wind condition affecting our area today, our internet and therefore also our phones are glitchy and intermittent. When calling please select the appropriate voicemail and we will return your call (and/or emails) as we are able. Thank you for your patience and understanding.

Due to the weather, our phone lines are down. We apologize for the inconvenience.