Without accurate reporting, you won’t have the full financial picture. Again, using accounting software for small businesses can make this process a lot easier, as it can connect to your cash account and automatically reconcile many of the transactions. When you use accounting software technology instead of spreadsheets and manual data entry, you’ll save time…
The two functions work hand in hand, helping business owners become more profitable. With the perspectives of both positions, you get a holistic view of your finances, setting your mind at ease and freeing your energy to do what you love—running your business. As the month moves along, bookkeepers match transactions in their accounting software…
But at a small business level or even larger organizations, transportation costs involve multiple line items under the “shipping cost” umbrella. This term is commonly used in international freight forwarding and offers significant advantages. For instance, buyers have more control over the shipping process, which can be beneficial if they have negotiated lower shipping rates…
Jacob Bernoulli discovered e while studying compound interest in 1683. He understood that having more compounding periods within a specified finite period led to faster growth of the principal. It did not matter whether one measured the intervals in years, months, or any other unit of measurement.
The rule of 72 helps you estimate the…
It’s so easy to devote time to your client’s businesses while you keep putting off your own finance books. Prioritize your business matters, track your accounts, prepare thorough reports, and manage everything at your end. Decide which social media you’d like to use for your business and start sharing your insights and experiences. It’s always…
EOM often contains the same features as print management but goes a step further by connecting all of your enterprise environments and centralizing processes through automation. EOM efficiencies can save time and money for enterprise businesses in supply chain and warehousing when it comes to automating the process of routing and printing labels. By providing…
Notes payable is a formal contract which contains a written promise to repay a loan. Purchasing a company vehicle, a building, or obtaining a loan from a bank for your business are all considered notes payable. Notes payable can be classified as either a short-term liability, if due within a year, or a long-term liability,…