Small Business Accounting

The Surprising Fact About Late Payments and What to do About It

Late payments. Companies of all sizes must deal with them. It is very common for customer invoices to be paid 30 to 90 days after the commonly accepted net-30 ─ which can seriously and detrimentally affect a business’ cash flow. The fact is that cash reserves can be quickly drained when payments are late. Making loan payments and meeting payroll still need to happen. Delayed … [Read more...]

Why Your Business’s ERP Solution Needs an Accounting Module

Accounting and financial operations are important parts of successful companies, regardless of the industries in which they do business. As software solutions incorporate automation into their design, systems designed to simplify financial tracking and accounting continue to be developed. Incorporating an accounting module into your business's enterprise resource planning (ERP) … [Read more...]

Failing to Spot Signs of Insolvency Could Lead to Your Downfall

Alongside the daily management of your business, from securing new orders, marketing to customers, and navigating the service delivery process with suppliers, as a company director, it’s your legal duty to prepare and file the accounting records of the business, or seek the services of an accountant to complete this task. Maintaining monetary records accurately and refreshing … [Read more...]

How to Start Your Own CPA Firm

So, you’re thinking of starting a CPA firm? That’s great! Starting an accounting firm can be extremely rewarding. No more limits to pay raises. No more answering to a boss. Plus, you’ll have the time to build your own product and discover your potential market. Basically, business owners are only limited by what they can deliver. However, opening an accounting firm calls for … [Read more...]

5 Ways to Keep Your Business Accounts Organized

Organizing business accounts is an essential practice for any investment, irrespective of the size, and keeping your business accounting organized right from the start pauses a challenge. Accounting becomes difficult for your small business if you take it as tedious and intimidating, but spending time organizing the way you do your business accounting helps you save time. … [Read more...]

Five Ways An Accountant Can Save Your Business Money

Saving money is essential for individuals as well as organizations as they can reinvest the money they save into other areas. An example of the benefits of saving money is that you will have additional finances that you can spend on the staff to keep them motivated and productive. You can offer bonuses or other incentives to keep employee participation at maximum. You can also … [Read more...]

6 Tools to Use to Keep Track of Your Business Finances

When you're running a small business, it can be challenging to keep up with your finances. You have to track daily, weekly, and monthly expenses and organize invoices as well as make sure that you're paying your taxes correctly and on time. Since handling the financial aspects of your company can be time-consuming, you may find that it's difficult to simultaneously handle other … [Read more...]

5 Misconceptions About Business Tax Deductions

Tax season is just around the corner and if you run your own business, you’d better get prepared. Business taxes can get complicated and there are a lot of misconceptions going around that make them seem like a non-issue. The fact is that the government has very strict tax regulations that don’t leave much wiggle room. It’s a good idea to back your company up with a qualified … [Read more...]

Benefits of Cloud Computing to Small Businesses

By 2020, it’s expected that 83% of businesses will store and manage data from the cloud. If you are a business owner, cloud accounting is certainly something worth looking into. How can your business benefit from this? Here are six reasons that may convince you to you give it a go. Greater Flexibility Running a business takes a lot. While taking administration courses can … [Read more...]

5 of the Most Profitable Small Business Ideas You Can Invest In

To become an entrepreneur means to unshackle yourself from the bonds of the traditional 9-5 grind, become your own boss, and establish true lifelong financial independence in the competitive commercial environment. After all, if you are not leading your own team and running your own brand, then you are helping someone else achieve the same goals, but for their own personal … [Read more...]