Is it time to sell your products and services internationally? The Census Bureau reports that the United States’ exports totaled $2.5 trillion in 2018, the highest on record. Ecommerce and other technology tools make it easier to […]
When looking at documents like the balance sheet and income statement, you may come across account terms that you’re not aware of. However, understanding these terms is vital. Doing so will help you better understand […]
You can hire a bookkeeper instead of an accountant. But, does that meet all of your business needs? The answer is important because you need an efficient system to manage your accounting operation. You also […]
You need the right tools to manage your business. One of the most important set of tools is your financial statements, including the balance sheet. Many business owners make the mistake of using an unclassified […]
Unsure about payroll and other business terminology? This list provides simple definitions of common business words, phrases, and acronyms that every small business owner should know, but that consumers can also find useful. Image Credit: […]
As a small business owner, you may find yourself looking for exciting, creative opportunities to sell things. Branching out can help you build a new customer base and increase revenue. One way to do so […]
Your business uses assets to produce revenue. As assets are used up, you can write off the asset’s cost and post a tax deduction for the expense. When you post an expense for a particular asset can vary, […]
November and December holiday retail sales will increase between 3.8% and 4.2% over 2018, predicts the National Retail Federation (NRF). But with competition coming from all sides and online shopping taking a big piece of the holiday […]
Payroll is the most complex accounting process you must complete. Your accounting transactions are posted to general ledger, but is the information accurate? How do you get the payroll process right? To understand how payroll […]
Whether you’re a business owner who’s buying or selling goods, it’s essential to understand the various components of the supply chain. One of the critical decisions you must make involves choosing between wholesale and retail. Unfortunately, […]
When labor law violations make the news, missing labor law posters aren’t typically the focus. Perhaps that’s because they’re often out of sight and out of mind. This was made apparent in a recent QuickBooks […]
When you check your inventory on paper, or more likely in the computer, it seems you should have a lot of inventory of one particular item—and, yet, as you peruse the shelves or warehouse, you […]
If you’re a small business owner ready to hire workers, you need to understand the tax implications of doing so. Business owners can recruit two types of workers — employees and independent contractors, otherwise known […]
When it comes to your business, the thought of taking on debt can be intimidating and risky. What happens if you run into a financial situation in which you can’t pay back what you owe? No matter […]
The start of the year is a great time to reassess your business. To grow sales and profits in 2019, you’ll need to process more transactions and serve more customers. You may also need to […]
If you’re a new business owner—or, thinking about starting a business—you may not realize that there are rules and regulations about how to keep your financials. Even if you know the basics of accounting, you cannot simply […]
There’s never been a better time to be a small business owner. Thanks to the internet, it’s possible to reach new customers anywhere in the world. But, figuring out where to get started is always […]
Gross profit is your total sales, less the direct expenses required to achieve those sales. Gross profit allows you to evaluate your business at any given moment, and track its growth and efficiency over time. […]
Sales to a business are like rain to spring flowers. Without it, they wither and die. Finding what works to generate sales and earn a profit for your company is essential to your long-term success. […]
Paying your employees on time is a mandatory requirement for any business, no matter the size. However, paying the appropriate amount in payroll deductions could probably tie for first place in a race of importance. […]
Getting paid is one of the biggest challenges faced by small businesses.Often your customer has to jump through hoops to pay you. And even when they follow all the correct steps it can take weeks, […]
Unlike payments that arrive in the mail, eChecks will automate your financial management and record keeping. That means more time to devote to building your business. Here’s what you need to know about accepting electronic checks. Go […]
No matter the nature of your business or what style of entrepreneur you are, there are common challenges we all face. Throughout your entrepreneurial journey, keep the following challenges in mind — especially when you […]
Social media trends are constantly changing. They impact the way people buy product and share information and they influence the way businesses sell and market themselves. Here are seven social media trends inspired by consumer […]
As an entrepreneur, ensuring your business is profitable is key to both sustainability and growth. But in order to determine what profitability means for your company, you need clearly defined goals and a comprehensive analysis that provides […]
As a self-employed freelancer or small business owner, knowing how to send an invoice correctly is crucial. How else are you going to get paid? You won’t. In fact, in 2016 there was nearly $825 million owed […]
If you’ve ever been self-employed as a business owner, freelancer, or contractor, then you know how exciting it can be to take your future into your own hands. However, entrepreneurship isn’t for everyone. Maybe your business didn’t […]
Paying bills may not be the most exciting tasks for you as a small business owner, but it’s definitely one of the most important.If you ever get into a situation where your bills pile up […]
Having trouble getting invoices paid? You’re not alone. Check out these 6 ways to keep the incoming revenue wheels greased, making sure you get paid as quickly as possible. Image Credit: DepositPhotos.com. 1. Accept all […]
Seasonal employees are employees who are hired on a temporary basis—either for part-time or full-time positions—during high-traffic seasons. Commonly, seasonal hires work fewer than six months at a time for their employer. It’s important to […]