As business owners, we want to be more productive (i.e. make more money in less time), but we often ignore time-saving ideas because we’re so busy. Thankfully, these online tools and ideas can help you reach this goal without spending a ton of time or money up-front…
Assets are anything of value that your business owns. Assets are always found on your balance sheet and should be categorized by type. Everything from your computer to your inventory is considered an asset and should be recorded as such.
The easiest, most accurate way to manage and record your...
Whether you’re a sole proprietor or own a thriving small business, preparing a business budget is sound financial management. While static budgets, or budgets that don’t change, can be helpful, preparing and using a working budget can be much more useful for small business owners, allowing them to make adjustments as they go along…
When we go into business, we expect to earn a profit. The key is to properly plan for how that profit will be earned. That’s where cost control comes in. Learn more about what cost control is, how it differs from cost management, and what measures you can take to better control costs and increase profits for your business…
If 2020 has taught us nothing else, it’s certainly taught us how important an emergency fund for your business can be. Fires, floods, riots, and a pandemic are just a few of the things that business owners have had to deal with in 2020…
Return on investment (ROI) is a financial ratio that calculates the level of income generated by a specific investment. Learn more about ROI, how to calculate it in your business, and why it’s so important to understand the results of your calculation…
When I want people to think I have a boring job, I usually tell them I work with accounts payable. This is effective when I’m at a party and want to leave, or any other time I’m engaging in small talk. In reality, I think accounts payable work is exciting.
Processing accounts payable is a great way to get a feel for…