Bookkeeping

Smart Steps for Starting Your Entrepreneurial Career

Becoming an entrepreneur is a rewarding way to put your skills to work and share your ideas with the world, but it’s also a hard path to go down as there are many pitfalls along the way. Many entrepreneurs are full of ambition at first but don’t know how to start making their dreams into a reality. When you’re just starting out, these are a few things that can make you more … [Read more...]

How to Effectively Manage Your Business’s Finances

In many cases, a small business' success is built on skills associated with making a product or providing a service, not necessarily skill in managing finances. If you don't have much experience with handling your business’ finances, it can sometimes feel like a tedious chore, but not tending to your company's money properly can also cause you to develop negative financial … [Read more...]

4 Business Finance Mistakes That Are Killing Your Profit Margins (and How to Solve Them)

According to Forbes, around 20% of small businesses collapse within their first year. The author notes something you’ve probably thought about as well: this number seems quite low. Twenty percent is a small figure in the grand scheme of things, especially when you consider the trials a small business has to go through to succeed. But this figure only tells half the … [Read more...]

How To Handle Cash Flow: 5 Handy Tips

When running a business, "cash flow is king" is a phrase you may have heard thrown around and honestly, it’s not untrue. Many a fundamentally sound business has found itself going under due to running out of cash, especially if owed some money. It’s good to think about and plan ahead to avoid this. Let's have a look at the ways to do this. Make A Business Plan – Project Income … [Read more...]

How to Take Charge of Your Business Receipt Process

For many business owners, tax time feels like a big interruption to normal business operations. Imagine that you’re driving down the road and you’re pull over. Being pulled over increases your travel time, and it will take you a few minutes to get back on the road and up to speed again. Preparing your business’ taxes may feel the same way. Like pulling your car over, tax … [Read more...]

Why Outsourcing Is One of the Best Things You Can Do for Your Business

Time is the most crucial limitation for any entrepreneur or small business leader. Outsourcing makes it possible for you to keep your attention focused by streamlining productivity into the hands of specialized experts. It saves you the hassle of investing precious resources and hours. You can look forward to building your company for the long-term without stressing over the … [Read more...]

7 Tips to Get Your Small Business Accounting Practices in Order

You’ve recently launched a new business and it’s started to grow. Now is the best moment to get organized and pay some attention to all accounting related issues. Every business owner has to make a detailed to-do list and stick to it at all times. That way, all emerging challenges can be taken care of as soon as possible. Go ahead and keep reading, since it will help you to get … [Read more...]

What is a P&L, or Profit and Loss Statement?

A P&L is a financial statement that summarizes all the revenues, costs and expenses that a business has incurred over a period of time.  The P&L is a helpful snapshot of the company’s ability to generate profits, either by increasing revenues or by reducing costs and expenses. Usually P&Ls are reported quarterly or on an annual basis, as part of a company’s … [Read more...]

5 Money Management Tips for Your New Small Business

There is nothing more exciting than making that first sale or obtaining that first client for your new small business. After all your hard work, your “baby” is off and running. To keep that momentum going, however, you need to put some clear money management practices into action. Here are five tips to get you started. Keep Accurate Records Get into the habit early and you … [Read more...]