Accrual and cash basis are accounting methods of recording transactions. The time of recording these transactions is what differentiates the two methods. The biggest question, though, is which of these methods is ideal for your small business? Let’s find out. Cash Basis
Have you prepared your business for Black Friday sales? I am sure you have already noticed the vast array of offers from all sorts of businesses and items, from electronics and home appliances to fashion items and skincare products. The
Business expenses are any payments incurred for the sake of running the company's operations. This definition might seem lucid, but what does it mean for you? First and foremost, you have to be knowledgeable about the business expenses you have
Risk management is at the heart of personal and business financial planning, and what better way to manage your risks than with insurance products? Purchasing any insurance product is not as easy as we would want. Keep in mind that any
A chart of accounts is one of the most important accounting tools for your small business. Your business’s accounting and finance framework relies heavily on this. That’s why it is important to get it right from the beginning. It helps
The end of the year is around the corner! And so is the income tax filing season. Yes, that season when your accountant is probably dreaming about numbers because your books are not adding up, and business owners are running
Bookkeeping is the process of recording your business’s financial transactions. As a small or medium-sized business owner, you can hire a bookkeeper or do the bookkeeping by yourself. Whichever way you opt, it is important to have a bookkeeping system
As you run your business, sometimes you’re tempted to inject your personal finances to give it a boost in case things go wrong along the way. But that’s not always the best way to make things work for your business.
Cash flow management is a critical component of any business’s survival. One of the key elements of cash flow is managing your small or medium business accounts receivables. Unfortunately, not every customer will pay on or before the due date.
Any business requires regular cash flow management, regardless of its size or industry. For small and medium companies, cash flow management is key to their survival. But it's not easy to manage cash flows if you don't understand the basic