Accounts receivable are an essential aspect of your business’s finances. Accounts receivable are legally enforceable claims for payment held by a company for goods supplied or services rendered that customers/clients have ordered, but haven’t yet been paid for. What is Accounts Receivable? Accounts receivable is goods, money, or services owed to a business. Accounts receivable […]
An income statement can help your business and budget. It’s a helpful tool to monitor your spending and figure out how to allocate money. If you’ve never made an income statement before, don’t sweat it. We’re here to walk you through everything you need to know to get you started on the right track. What […]
A balance sheet is an essential tool for businesses of all sizes as it tracks how your business earns and spends money over a certain period. Your balance sheet also gives investors and potential investors insight into your company’s operations. Before you create your balance sheet, here are a few helpful things to know. What […]
Good bookkeeping keeps your company healthy. To do that, you’ll need a general ledger, but what goes into a general ledger?
Even the smallest of small businesses have bookkeeping and accounting needs. Small business owners need basic bookkeeping to keep track of income and expenses. It’s essential for filing taxes, but bookkeeping also gives you essential information for business decisions. How are you planning to expand? How many new staff members can you afford? Bookkeeping gives […]
Bookkeeping often confuses many business owners. It is not typically associated with the idea of business operation. However, bookkeeping, recordkeeping, and their intricacies can yield significant benefits for small business owners. Here is what you should know about bookkeeping and recordkeeping, and why you may consider implementing both into your small business. What Is Bookkeeping? […]
Bookkeeping is a practical way to make sure that your business can track its budget. Every transaction that occurs will affect how your business allocates its finances. The use of a spreadsheet allows you to see all of your transactions in one place. There are a few things to consider, especially if you want to […]
Taking responsibility for bookkeeping in your small business can be a stressful and quickly overwhelming step. It can easily get out of control if you’re not vigilant, and sometimes it’s even hard to know where to begin. Recording the basic flows of money in and out of your business and reconciling different accounts is essential […]
As a small business owner, you know there are few things more exciting than making the sale and filling orders. You put so much thought and effort over time building your company and developing your product or service, but in order for it to be a success and realize the dream, you need someone else […]
As backward as it sounds – it takes money to make money. Starting a business and keeping it running means keeping a healthy flow of money into and out of your business. You can’t be afraid to spend money and invest in the future, but you don’t want to spend too much money you don’t […]