What do bookkeepers and accountants do? Bookkeepers record transactions in a company’s set of financial records or books. They may also assist with invoicing customers, paying bills, and managing payroll, including payroll tax reporting. Accountants classify, analyze, […]
Taking the leap as a business owner can be both challenging and rewarding. Many people start businesses to be self-employed and take control of their own destiny. If you’re a new business owner, you may […]
An income statement, also known as a profit and loss statement (P&L), is one of several key financial statements that small business owners, accountants, and the self-employed use to assess their company’s financial performance.The income […]
ACH, or “Automated Clearing House,” is the name of the network that moves money and information from one bank account to another. Bill pay and direct deposit are examples of an ACH transaction. It’s a […]
According to the unabridged edition of the Collins English Dictionary, the definition of non-compliance (nɒnkəmˈplaɪəns ) is a “failure to comply; refusal to yield, agree, etc.” Many of the examples of non-compliance in United States dictionaries […]
Near the close of the 20th century, Hewlett Packard overtook IBM as the world’s third-largest PC manufacturer in the world. Yet not all was well at HP. Cutthroat competition and rapid advances in technology forced […]
The overall success of your business is directly tied to profit and loss. This relates not only to securing enough business to pay your bills and expenses but also has to do with pricing and […]
Signing up for a credit card that offers the best benefits makes a lot of sense. And it’s natural to focus on highly-publicized rewards and special offers. But you might be surprised to learn that […]
As Hurricane Dorian begins its slow crawl north along the East Coast and continues to torment residents of Florida, Georgia, and the Carolinas, we’re beginning to get a better idea of the devastation left behind […]
After attending her local Chamber of Commerce meetings and presenting, or exhibiting, at various trade shows, small business owner Becky Beach was shocked to learn that the $1,000+ she spent on business attire to look […]
Simply having a great business idea doesn’t guarantee that you’ll soon be running a successful startup. You’ll need funding, a solid business plan and lots of luck. But, every once in a while, lightning strikes […]
In 2016, Wasp Barcode Technologies asked more than 1,100 small business owners what the biggest challenges were as it related to running their business. Unsurprisingly, money management issues topped the list. 43% mentioned that growing revenue was tough 45% […]
Kristen Merlino is a real estate agent in New York City who has’s been in the real estate business for more than five years. In that time she has learned a few things about the industry […]
As a small business owner, managing your expenses can be a full-time job. Juggling receipts, bills and invoices can cause you to drown in piles of paper. However, the importance of keeping your receipts organized cannot be overstated. At the end of the […]
If you run a retail business, a Point of Sale (POS) system is an essential component to your success. A POS system is where your customer pays for your products, and you accept and record that payment. […]
Opening a business is about much more than finances: It’s also about grit, resilience, and the commitment to learn and grow along the way. Over the years, we’ve picked up tried-and-true practices that have helped […]
In the course of doing business, there are costs and expenses that are not directly related to creating products or services, but must still be paid on an ongoing basis. These are called “overhead costs” and are […]
Today’s business word of the day is “nexus” (pronounced nek-səs, plural nexuses). According to the American Heritage English Dictionary, the definition of nexus is a connection or link. The term could also refer to a connected […]
Electronic check, or eChecks—also referred to as electronic check conversions, or back-office conversions (BOCs)—are secure digital versions of paper checks. Using eChecks in your small business saves time and money, as well as providing additional […]
Tracking inventory can be tedious work, but it’s vital to running a business. Inventory management systems are designed to handle most of the administrative work, making it easy to put an important part of your […]
With every tax season, many self-employed people and small business owners start to sweat their tax deductions. One of the greatest areas of concern year after year is business expenses and receipt capture. In a recent […]
Data security and fraud prevention are two of the biggest challenges facing small business owners today. When scammers gain access to sensitive personal information such as customer data, log-in credentials, and account information, the results […]
When running a small business, you can’t rely on your gut instinct all the time, especially when it comes to evaluating your company’s financial health. You should be objective rather than subjective when determining the financial […]
Vacation time isn’t just an essential perk for many employees—business owners deserve a break, too! Vacations can be essential for revitalizing and de-stressing yourself, spending much-needed time with your family, and refreshing your mind with […]
Running a business has its ups and downs. Like with many other aspects of your life, it’s not uncommon to have a change in heart/motivation when it comes to running your business. Serial entrepreneurs like […]
If you’re thinking about starting a food truck business, get ready to drop from $60,000 to $250,000 before you sell your first onion burger, grilled chicken wrap or empanada. And don’t count on making a […]
Balanced books may not be sexy, but they provide small business owners with the grounding they need to make smart forecasting decisions about expanding their business, making large purchases, or hiring new employees. While the language of accounting […]
Problems with payroll processing can creep up on you. Mismanage your data—by using spreadsheets or other manual tools—and bam, you could end up slipping on a financial banana peel without even realizing it. No matter how meticulous […]
Sales Tax Holidays are short periods of time, 1-3 days or maybe a week, throughout the year when a list of items is exempt from sales tax. Each state can set its own dates, set […]
Does your small business need to hire? If so, you need to plan how you’ll get around three of the biggest minefields for small employers. According to a recent study, small business owners’ top challenges with […]