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21 Aug The Business Advisor You Already Have (But May Not Be Using)

Posted at 20:51h in Blog by

In this edition of Ed Talks, I’d like to discuss one of my pet peeves: unlocking some of the hidden power of QuickBooks.  Many business owners think of QuickBooks as a necessary bookkeeping tool. It records transactions, reconciles bank accounts, creates invoices, and helps prepare tax returns. All valuable functions, certainly.

But today’s QuickBooks can be much more than a bookkeeping system – it is a business intelligence tool.

In many organizations, QuickBooks already contains the information needed to answer some of the most important management questions a business owner faces. Which customers are most profitable? Is cash flow improving or deteriorating? Are expenses growing faster than revenue? Which products and services generate the strongest margins?

The reality is that many business owners are using only a fraction of the insight available within the software they already own.

Beyond Accounting: A Business Intelligence Platform

Accounting systems have traditionally been viewed as historical record-keeping tools. They tell you what happened last month or last quarter.

Modern QuickBooks users, however, can leverage reporting, dashboards, forecasting tools, and analytical features to gain a forward-looking perspective on their business.

This is where QuickBooks begins to transition from bookkeeping software to business advisor.

The difference lies not in collecting more data, but in learning how to interpret the data you already have.

Consider the questions most business owners wrestle with:

  • Will I have enough cash next month?
  • Why are profits declining despite strong sales?
  • Which customers create the most value?
  • Which service lines should I expand?
  • Are overhead costs growing too quickly?
  • How did this month compare to prior periods?

 

The answers may already be sitting inside QuickBooks.

Stop Managing by Bank Balance

One of the most common management mistakes I see is what I call “bank balance management.”  A business owner opens their banking app, sees a healthy balance, and assumes things are fine.

Unfortunately, a bank balance tells only a small part of the story.  The balance does not reveal:

  • Upcoming payroll obligations
  • Customer invoices that remain unpaid
  • Large vendor bills due next week
  • Tax liabilities
  • Seasonal fluctuations
  • Emerging cash flow problems

 

A company can have a substantial bank balance and still be heading toward a cash shortage.  Likewise, a company experiencing temporary cash pressure may actually be financially healthy and growing.

This is why professional managers focus on cash flow rather than simple bank balances.  QuickBooks provides tools that help tell the complete story.

The Cash Flow Report: A Perfect Example of Business Intelligence

If there is one report that demonstrates the advisory power of QuickBooks, it is the Statement of Cash Flows.

Many business owners either ignore this report, find it intimidating, or simply don’t understand it. That’s unfortunate because it answers one of the most important questions in business:

“Where did my cash go?”

The report breaks cash activity into three areas:

1. Operating Activities

This shows cash generated from the normal operations of the business.

Questions it can answer include:

  • Is the business generating cash from its core activities?
  • Are customers paying more slowly?
  • Is working capital being consumed?

 

A profitable company that consistently consumes cash may be facing an operational challenge that deserves attention.

2. Investing Activities

This section reveals spending on long-term assets such as:

  • Equipment
  • Vehicles
  • Technology
  • Property improvements

 

These expenditures may temporarily reduce cash while positioning the company for future growth.

3. Financing Activities

This section tracks how cash enters or leaves through financing.

Examples include:

  • Loan proceeds
  • Debt payments
  • Owner contributions
  • Owner distributions

 

Together, these three sections provide a narrative that a bank balance never could.

A business owner reviewing this report regularly gains insight into the underlying health of the organization, not merely the dollar amount sitting in the bank on a particular day.

That is business intelligence.

The Hidden Power of Dashboards

Another underutilized feature is the QuickBooks dashboard.

Most users glance at the dashboard occasionally and move on. Yet it can function as an executive cockpit for the business.

A well-designed dashboard helps management quickly monitor critical performance indicators such as:

  • Revenue trends
  • Accounts receivable balances
  • Outstanding invoices
  • Expense categories
  • Net income
  • Cash position
  • Sales by customer
  • Sales by product or service

 

Rather than waiting until month-end financial statements arrive, business owners can monitor key metrics continuously.

Think of it this way: when driving a car, you don’t wait until the end of the trip to discover you were low on fuel. You monitor the dashboard throughout the journey.

Your business deserves the same level of attention.

Where AI Fits In

Much has been written recently about Artificial Intelligence, including some of my previous Ed Talks articles.  While AI is exciting, its greatest value often comes from helping business owners access and interpret information faster.

Within QuickBooks, AI-powered features can help identify trends, highlight unusual transactions, summarize financial performance, and surface insights that might otherwise be overlooked.

But it is important to remember that AI is not replacing sound financial management.  Instead, AI acts as another tool that helps business owners make better use of the information already available in their systems.

The quality of decisions still depends upon understanding the underlying data.

The Advisor You Already Have

Many business owners assume they need more software, more dashboards, or another consultant to gain better visibility into their operations.

Sometimes they do.

But often, the first place to look is the system already running the business.

QuickBooks has evolved far beyond its origins as bookkeeping software. When used effectively, it can help business owners monitor performance, understand cash flow, identify trends, and make more informed decisions.

In other words, it can serve as a business advisor.

The question is not whether the information exists.

The question is whether you’re using it.

Need help turning QuickBooks data into actionable management information? Contact Siegel Solutions. We help business owners move beyond bookkeeping and use QuickBooks as a tool for better decision-making.

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Antonio Tony Martinez
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Sean McCaffery has more than 15 years of experience leading channel sales and cloud solutions in the US and Internationally. Sean has held leadership positions with Avaya in Europe growing the channel business with resellers and distributors in key countries driving double-digit growth. He then joined Rackspace Technology and was instrumental in developing sales growth strategies in cloud adoption for customers and partners. Most recently, he ran channels at Dizzion responsible for dynamically growing and expanding the partner ecosystem through SaaS-based VDI solutions before joining Intuit. Currently, he runs the QuickBooks Solution Provider Program supporting the strong business that solution providers and ISV partners have established as well as finding new opportunities to drive emerging mid-market growth together!

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Gabor Terebesi
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Gabor Terebesi is an Account Manager with the Payments Team of Intuit for over 15 years. He works in the partner division for Intuit payments to ensure Intuit partners along with any clients of theirs are in the most suitable and financially cost-effective solution accepting payments through eCommerce, QuickBooks, mobile payments, or any other options necessary for their business.

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Aimee joined Siegel in 2022 as the Accounting Manager overseeing the accounting and bookkeeping team. Aimee brings 18 years of experience with increased responsibility with privately and publicly held companies. Her experience lies with SaaS-based companies as well as in healthcare, consulting, education and nonprofits. Prior to joining Siegel, she held accounting leadership positions with Waban Projects, Elastic Path, Moltin, and Ned Davis Research. Aimee loves partnering with business owners to establish financial reporting and results that promote growth and expansion. When Aimee is not working, she loves spending time with her family and friends and exploring all New England has to offer. She is also an avid Red Sox fan and enjoys going to Fenway Park when she can.

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Jeffrey Siegel
CPA, CEO

Jeff has spent the last twenty years working providing solutions to emerging growth businesses. After graduating from Northeastern University, he spent five years working with two multinational CPA firms in an auditor capacity building a foundation for understanding how business work. He later went on to work in various controller and CFO roles before starting Siegel & Associates (previously Siegel Financial Group) in 2000. In those roles, he sold a company to ADP, raised funds for a major expansion of a large regional IVF clinic, and helped set up accounting and financial structures for dozens of companies. Since starting Siegel & Associates, Jeff has worked with hundreds of clients providing accounting system solutions. Those solutions include setting up QuickBooks in a single-user environment putting in QuickBooks Enterprise in a 30-user environment and integrating various add-ons including inventory, CRM, and e-commerce. He is a Certified Public Accountant, a QuickBooks Pro Advisor, a QuickBooks Advanced Pro Advisor, and an Intuit Solution Provider certified in Enterprise Solutions, Point of Sale & QuickBase. Jeff is also a Microsoft Certified Systems Engineer

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Lori Swartz
Client Solutions Advisor & Professional Services

After graduating from Boston University, Lori spent eight years working in various managerial positions for two national companies. In those positions, Lori developed the skills necessary to manage multiple projects, clients, and resources. She later went on to work for a management company that handled over 25 real estate properties with multiple tenants. Lori joined Siegel Solutions in 2003 as a client services manager where she utilized her skills developed to manage multiple clients and multiple staff. She recently moved into the client support manager role where she is responsible for meeting with and onboarding new clients, managing and maintaining our technology stack along with QuickBooks setups, conversions, training, and consulting.

In her free time, Lori enjoys spending time with her family. She loves to travel, music, and theater.

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Janet Jodoin
Bookkeeping Associate

Janet joined Siegel Solutions in May of 2022 as an Associate Bookkeeper. In her younger years, while raising her family, she completed her degree in Business and she spent 20 years in the trades as a custom designer. Janet also has 16 years in corporate management. Her strong team support, training, and development led her to support and manage Human Resources. Janet's desire to change careers has led her to return back to bookkeeping at Siegel Solutions. In Janet's free time she enjoys spending time with her growing family. Her personal favorite is creative landscaping in her yard. She also enjoys working alongside her partner in construction and remodeling.

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Ed Jaworski
Professional Services

With over 21 years of corporate experience at PeopleSoft Consulting, Sun Life Financial, and KPMG, Ed brings a big business approach to small business solutions. Prior to joining Siegel Solutions in 2022, Ed helped small businesses get the most out of QuickBooks for 21 years as a co-founder of SMB Partners and the founder of Solutions for Office Software.

Ed is an Advanced Certified QuickBooks® ProAdvisor, a Certified QuickBooks® Point of Sale ProAdvisor, a Certified QuickBooks Enterprise Solutions ProAdvisor, and a Certified SOS Inventory Consultant. Ed holds an MS in Computer Information Systems from Bentley University and a BS in Business Administration from Northeastern University.

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Debby Mono
Firm Administrator

Prior to joining Siegel Solutions in March 2023, Debby had been working in administrative and executive assistant roles for many years in various fields. Her extensive background in these positions has provided her with a range of skills and knowledge that are valuable in her new role as a Firm Administrator. She graduated from Suffolk University with a Bachelor's Degree.

Outside of work, Debby can be found at football fields or dojos cheering for her sons. She also enjoys hikes with her dog, Sawyer, reading, sports, and live music. She and her husband also love to entertain family and friends.

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Letitia Cote
Senior Associate

Letitia has an accounting degree and has been working in the Accounting/Bookkeeping industry for over 25 years. Tish is also an Acumatica Business Consultant. Outside of work, Tish has 4 grown children and 5 grandchildren, she loves to ski, hike, bike, and be outdoors. Tish has worked with Jeff for over 10 years.

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Andrea Alencar
Associate

Andrea graduated from Bridgewater State with a Bachelor's degree in Accounting. Andrea joined Siegel Solutions in 2022. Andrea has gained accounting experience working in various industries including a CPA firm, legal, hospitality, and telecommunications. Before coming to Siegel Solutions Andrea previously worked as a bookkeeper and staff accountant.

Andrea has 4 kids which keep her busy. Outside of work, Andrea enjoys spending time with her kids, being outside, cooking, and going to softball/baseball games.

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Mike Derrico
IT

I started my career in 1983 when I designed and built a device to share a computer program, written by the president of a local bank and his son, running on an Apple Lisa computer. The device allowed the large and expensive Lisa's computer to be shared with bank employees. With this program, and with my device, we started a company to market this unique solution to banks. At this point, computer networks were just starting to be used in businesses. I transitioned my efforts to providing support for migrating banking terminal/mainframe functions to the emerging Personal Computer networking platform. For the next decade, I worked with, and beta tested, numerous technologies to integrate the banking functions from dumb terminals into the now smart desktop computers. After working with a few small consulting firms, I started my own company focusing on providing I.T. support to SMBs. More recently I am now doing the exact opposite by helping customers migrate their PC applications and data from their local computers to The Cloud. A few years ago, I joined Siegel Solutions to add my years of I.T. experience to their firm.

In my spare time, I like to travel, fly my drone and, most importantly, spend time with my family. I also still enjoy tinkering with technology.

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Pat Jaworski
Associate

After spending most of her corporate career in the insurance industry, Pat joined a QuickBooks consulting firm providing bookkeeping services to several small companies. Late in 2022, that firm merged with Siegel Solutions, Inc., bringing Pat and her clients to the group. She provides services to clients in a variety of industries: fitness, construction, beauty, equine care, and medical billing, to name a few. She enjoys supporting her clients by keeping their financial records in good shape and allowing them to focus on growing their respective businesses.

Pat resides in the 495/MetroWest area with her husband Ed, daughter Abby and Duffy, their lovable, energetic golden retriever.

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Senior Account
Payroll Manager

John has been with Intuit for over 18 years, serving in a variety of roles across the organization. For the past 8+ years, he has focused on payroll and workforce management solutions, helping clients streamline operations and make informed decisions. John is passionate about working directly with customers to understand their unique needs and recommend the best solutions to support their teams.

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Janice Kats

Associate

Janice Kats graduated from Carl Sandburg College with an Associate Degree in Accounting in 1992 and has been working in the accounting field ever since in various jobs doing AR, AP, payroll, office management, and bookkeeping before joining Siegel Solutions in late 2023.

In 2022, she made the decision to branch out on her own and started her own bookkeeping business, working from home.

She is a mom to 3 grown children and a grandmother to 5 grandchildren and enjoys spending time with her husband and two dogs and following her grandchildren in all of their sports.

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Cynthia Moncayo-Mena
Associate

Cynthia joined Siegel Solutions in March 2025 as an Associate. She has a Bachelor's in Accounting from New Jersey City University and over 10 years of experience in accounting.
She is married with two children and enjoys reading and exploring new places to visit!

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Melissa Boyan
Senior Associate

Melissa is originally from Orrington, ME (outside of Bangor). She attended Husson College and graduated with her BS in Accounting and MS in Business. She currently lives in Levant, ME, with her husband, son, and their pets. She has 2 dogs and 2 cats! Melissa enjoys playing the Tenor and Alto saxophones in a local band, as well as crafting, particularly learning how to knit and crochet. Additionally, she teaches accounting classes.

She joined Siegel Solutions as a part-time Senior Associate in December 2025.

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Matthew Galligan
Associate

Matthew Galligan is from Pembroke MA. He received his Undergrad Degree from Stonehill University and is taking classes to become eligible for the CPA exam. He has 2 dogs, Sully and Finn. Matt enjoys any Boston sports as well as ATVs, snowmobiling and golf.

He joined Siegel Solutions as an Associate in December 2025.

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Crystal Joson
Associate

When Crystal Joson joined Siegel Solutions as an Associate, she brought a strong foundation in accounting and auditing. Originally from the Philippines, Crystal earned her Bachelor of Science in Accountancy in 2020 and is a Certified Public Accountant as well as a QuickBooks Online Certified ProAdvisor, Levels 1 & 2.

She began her career in auditing, where attention to detail, accuracy, and problem-solving quickly became second nature. Prior to joining Siegel, she gained experience working as both an Audit Associate and Accountant. In her role at Siegel Solutions, Crystal supports clients through transaction recording, schedule maintenance, and monthly financial reporting.

Outside of work, Crystal enjoys watching anime series, reading manga, taking daily walks, and expressing her creativity through sketching and watercolor painting.

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