Managing a retail business takes a significant amount of labor, including inventory management, invoicing, and online payroll services for your staff, so freeing up time is critical. Additionally, automating your system eliminates the danger of human mistakes involved with manual data entry.
Read MoreThere are times when you think you still have this amount of money in the bank but are shocked to see that it’s actually less than you thought. You then question yourself if you’re overspending or if money is actually missing from your account. In this article, we’ll talk about why there’s “missing money” in your bank and how you should deal with them.
Read MoreIn any business, you should be keeping an eye on your bottom line. Your profitability is essential to funding the operation. You should always perform financial forecasting to make sure you have enough capital to cover your costs over the coming fiscal year.
Read MoreDouble-entry bookkeeping can be confusing if you are just starting with accounting. However, it is the most reliable and accurate method, and it is also the most popular. Small businesses shouldn’t ignore this accounting technique because it can significantly help boost efficiency.
Read MoreManaging the payroll for several employees can become challenging for small businesses. Without the help of an accountant, the owner may struggle monthly in keeping track of every employee’s salary and other fees needed for filing.
Read MoreYou keep your books based on the accrual method for reporting income and expenses, and you prepare your taxes on a cash basis. Accounts receivable and accounts payable appear on your balance sheet both ways, even though they should not appear on a cash basis. We will identify why they occur and suggest a few solutions to address them.
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