Managing your money can sometimes feel like a daunting task. However, one way to stay on track is to use a financial plan to guide your path.
Your financial plan is a document that provides a roadmap to your money destination. It lays out your current financial situation, helps you...
Days sales outstanding (DSO) measures the average number of days it takes a business to collect payment from their customers. Similar to the accounts receivable turnover ratio, the DSO ratio can be measured monthly, quarterly, or annually, depending on the volume of credit sales your company has.
When I first learned how to do payroll, one thought kept flowing through my mind: “Holy expletive, this is a lot of numbers to keep track of.”
The company I worked for had several classifications and each caused the employee to be paid a little differently. Some...
Accounting is the act of organizing, recording, and analyzing financial information, providing you with in-depth financial knowledge about your business. Accounting plays a starring role in your small business, helping you manage everything from business growth to locating investors and securing a business loan.
There may never be a better opportunity than now to teach your kids about money.
Many parents are likely spending more time with their children thanks to closed summer camps and virtual schooling brought on by the coronavirus pandemic.
An allowance for doubtful accounts is a contra asset account used by businesses to estimate the total amount of goods and services sold that they do not expect to receive payment for. Located on your balance sheet, the allowance for doubtful accounts is used to offset your accounts receivable account balance.
Entrepreneurs are busy people, and for efficiency’s sake, you need to delegate many tasks that others can do just as well as you can. Outsourcing is cost-efficient, as long as it makes sense — particularly for administrative tasks such as creating graphics, social media posting and other tasks that can be performed just as well...