How Your Business Can Start Fresh Financially
Sometimes it's important to look at your finances as a business and make some changes. Perhaps your company isn't doing as well as you'd hoped. You can still turn things around by changing certain things. Keep reading to learn how your business can start fresh...
Signs That You May Need to Switch Accounting Firms
Accounting firms are important to most businesses, as they can handle financial reporting, tax services, and more. They can handle the balance sheets and the balance reconciliation, and they conduct reviews of the company performance regularly. They can forecast cash...
Remote Work: A Money-Saving Strategy
Many people want to work from home. The pandemic has shown everyone that it is possible, and there are benefits for employees. The question is, can it save money for companies as well? It is important to understand how this model for business can work. The Pandemic...
Economic Impacts of Pandemics
Although a pandemic can cause a contraction in the economy, once the pandemic ends, the economy can rebound. The lockdowns can lead to a ripple effect that brings spending in many markets to a standstill. This is especially true for travel, tourism, and other...
The Dangers of Business Loans From Friends and Family
People often turn to friends and family for help when they have a cash flow problem. Out of those who have had this kind of arrangement, 37% said that they lost money, whereas 21% said that it ruined their relationship. It is important to have a plan to prevent this...
How Can Cash Flow Make or Break Your Business?
You may have heard people say that cash flow is critical to business, and they are absolutely correct. The important thing is to understand cash flow and learn how to manage it. The second biggest cause of the failure of startups is poor management of cash flow, so...
Establishing Initial Business Credit
Establishing your initial business credit is an important step to gaining access to resources that you may need to run your business. It can give you cash flow and help you buy goods, pay your employees, or take care of your bills. When a business doesn’t have access...
How to Optimize Accounts Payable
Most businesses don’t spend very much time on their accounts payable until there is an issue. However, when you optimize this department, you can find ways to save on bulk purchases and other supplier agreements. You also gain control over your cash flow, and this...
Common Accounting Mistakes Small Businesses Make
Accounting in any business, let alone small businesses, is one of the most important aspects. That doesn’t mean simply keeping the books for tax purposes. It means identifying waste, theft, and fraud while saving money. So, for a small business, it is important to...
Bookkeeping Versus Accounting: What’s the Difference?
There are two terms that you will hear when starting a business: bookkeeping and accounting. But what is the difference between the two? They may seem interchangeable, but each has its own set of important functions. In reality, these two terms are quite synergistic...