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...
Managing Cash Flow as an Entrepreneur
Cash flow is one of the most crucial aspects of any business. The businesses that thrive are the ones that are smart about how they spend that startup capital. Carefully managing cash flow is one of the most difficult things that any business owner will experience....
Is it Time to Reconsider Your Accounting Strategy?
As a business grows, its needs can and will change. The financial processes within the business are some of the most essential functions that a business can have. So, while it may seem safer to stick with what has worked, it may be beneficial to look for new...
Tax Tips for Small Business Owners
It only makes sense that most small business owners are looking for ways to minimize the tax liability felt by their company. Working with your tax advisor, it is important to know how changes such as Coronavirus Aid, Relief, and Economic Security (CARES) can impact...
Why Entrepreneurs Need Accounting
Even the most ambitious and creative of entrepreneurs need to rely on tried and true business methods. Accounting is one of those methods. Without a firm knowledge of the finances of a company, there is less chance that it will succeed. There are three main principles...
Key Elements of Financial Projections
An important component in any business is financial projection. Basically, it is a prediction of future expenses and revenues. That projection uses either historical or internal data to predict what the business will look like financially. It is important that both...
How to Create an Operating Budget
There are several important factors to starting a successful business. One such factor is budgeting. There are many aspects to a business budget, however. The operating budget, for instance, dictates what a business will spend. Here are a few tips for creating a...
A Beginner’s Guide to Business Finance
Starting a business is not as simple as having an idea or a product. Starting and running a successful business means having the right plan to avoid the collapse that so many other businesses experience. Despite the uphill battle, there are definitely things that can...
Side Hustles You Can Do to Make Extra Money
If you’ve got some extra time on your hands and are looking to grow your income, developing a side hustle might be the correct route for you. You’d be surprised by just how many people are looking to hire someone part-time to help them out with select services. If...
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