Your accounting system is the heart of your business. It helps you track expenses and manage invoices—keeping you on track with managing your cash flow. Yet, without accurate accounting data, businesses may struggle to make informed decisions. […]
When it comes to finance vs. accounting, the differences can be confusing. Yet there are many distinctions between the two that can majorly impact your business. One focuses on the present, while the other looks […]
If you are a small business owner, the financial resources of your customers can play a key factor in your company’s success. Customer financing, such as buy now, pay later services, can encourage shoppers to […]
While many business owners have to focus on managing the day-to-day, planning for the future is key to managing cash flow and finding growth opportunities. Budgeting and forecasting are essential financial tools businesses use to plan for the future, […]
If you’re starting a business or charging for your products and services, you’ll need to understand the legal requirements for becoming an official business entity. For those starting a limited liability company (LLC), the first step […]
As a small business owner, you’re likely always looking for ways to boost your income. Whether that’s by increasing sales, eliminating redundancies, or decreasing expenses, you should be looking for the next big cost-saving measure […]
Managing your business’s inventory levels is key to knowing how much and when to order more product. But things get more complicated when you have to manage inventory from different sales channels. If you run an online store, […]
No small business task seems more complicated than payroll, especially since the risk of error can be high. However, you can take proactive steps to reduce the risk of error by performing a payroll audit (or […]
Bookkeeping is one of the fundamental pillars of running a business. A lot goes into it—from managing payables and receivables to balancing books. But what might seem like an overwhelming task isn’t so bad when […]
Remote work is more prevalent than ever, with nearly 60% of employees being able to work remotely at least part of the time, according to a recent McKinsey survey. That means small businesses now need to […]
E-commerce reports reveal information about your sales and customer purchasing behavior—and there are many types of reports. While one may provide great insight into your sales, others will help you with inventory management strategies and marketing campaigns. […]
While collecting all the money you’re owed is the best-case scenario, small business owners know that things don’t always go as planned. Estimating invoices you won’t be able to collect will help you prepare more […]
What’s the best payment method for small businesses? Some say cash is king, while others swear by credit cards. But in light of the coronavirus, small business owners may have had to forgo their preferred […]
Here’s a situation no business owner or freelancer wants to deal with: invoices way past their due date. You’ve provided the agreed-upon service or product. You’ve sent out an invoice. You’ve waited and waited, and […]
As a small business owner or manager, it’s never easy to lay off employees. Unfortunately, economic and unforeseen conditions can make it necessary to make difficult business decisions that impact the livelihoods of your team […]
If you’re new to filing taxes as a small business owner, you might feel a little intimidated by the process. You may find yourself asking questions like: How can I be sure I’m using the correct forms? […]
If you’re new to filing taxes as a small business owner, you might feel a little intimidated by the process. You may find yourself asking questions like: How can I be sure I’m using the correct forms? […]
There are many tax breaks for small businesses—and we bet you want to know all of them to help reduce your tax liability and keep more money in your small business. We’ve pared down 23 […]
Tax season is an especially stressful time for small business owners. If you procrastinate on tax season preparation, it might be time to rethink your strategy. Preparing your books for tax season sooner rather than […]
Filing your taxes and keeping track of W-2 employee forms can be overwhelming. But, when you’re a small business owner, the labyrinth of paperwork and potential self-employed tax deductions creates a tax situation that’s enough to give […]
For those new to it, health care accounting can feel about as confusing and daunting as conducting an open heart surgery. Health care businesses and medical practices might struggle to keep up with the constant […]
When you deposit your hard-earned money into a small business bank account, the last thing you want to worry about is whether the bank is healthy. It used to seem like banks were too big to […]
Are you ready to simplify your small business finances while taking advantage of the best banking perks? Having multiple bank accounts for business can help you do just that. In addition to keeping your cash […]