7 Signs Your Company Has Good Financial Health

Do you know how to tell if your company has good financial health? “There are more than a few ways, some of which may be more appropriate for your business than others.

It’s somewhat easy to determine if your company is doing well. You’ll be in the black every month, able to make yourpayroll and pay all of your monthly bills and expenses. But are there discernible levels or observable distinctions that reliably signify good financial health? Or are there ways to determine how well you’re doing beyond the norm?

There are more than a few ways, some of which may be more appropriate for your business than others. With that in mind, let’s review seven signs that your company is in good financial health.

1. Your Revenue Is Growing

When looking at your profit-and-loss statement, you should be able to see a pretty steady increase in your revenue month over month, year over year. It doesn’t have to be a huge spike in profitability, but even just an increase of a couple percent shows upward movement and a strong financial outlook.

How to Legally Add Credit Card Surcharges to Customer Bills

Merchant fees can be a large business expense. Is there a legal way to add surcharges to customers’ bills to help defray the merchant costs? Yes there is! Quickbooks Small Business Center recently published this article with some helpful advice:

“Until a 2013 class-action settlement changed the rules, business owners were prohibited from adding surcharges to their customers’ bills to help defray the merchant fees charged by credit-card companies. And those fees can add up. Scott Levy, founder of PassThrough, a credit-card processing service, says U.S. businesses pay $55 billion a year in credit card merchant fees. We spoke to Levy about how small-business owners can legally add surcharges when customers pay with a credit card.
 
Small Business Center: What is surcharging?
 
Levy: A credit card surcharge is an extra fee that is added to the cost of a good or service for the use of a credit card.