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Category Archives: Accounting
Outsmart your accountant and other financial friends with these accounting-related definitions: Fiscal Year Most companies report their results on a calendar year, from January 1 through December 31. Some companies use a different year for reporting, and that’s called a … Continue reading
It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset: Essentially, assets are what you own. These include your bank accounts, business equipment, and even the amounts that customers owe … Continue reading
Small business owners have a lot on their plates, and time simply does not allow you to become an expert in all the areas required for running a business. Here are a couple of common mistakes that we see all … Continue reading
Some numbers need reviewing on a daily basis, and one example of this is cash. When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to … Continue reading
A great way to speed up your cash flow is to get paid faster by customers who owe you money. One way to do that is to examine your payment terms to see if you can accelerate them. First let’s … Continue reading
You’ve got someone to do your federal and state income tax returns, and you have a bookkeeper. So that’s all that a small business needs when it comes to having an accounting department, right? Wrong. Large companies have many functions … Continue reading
The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics … Continue reading
If you have workers in your business, you’ve likely made a decision when you hired them as to whether they should be an employee or a contractor. If all you hire are employees, then you have nothing to worry about. … Continue reading
Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate … Continue reading