Cash Disbursement: Definition and Examples
Cash disbursements, or payments from one party to another, are made every day by small businesses to pay for services or goods. Accurately tracking cash disbursements is an essential part…
How to Prepare a Balance Sheet in 5 Steps
Balance sheets are a key way for businesses to monitor their finances. Whether you need day-to-day information about money matters or you’re about to make a major financial decision, your…
What Is Cash Float? Definition and Guide
For many small business owners, having sufficient cash flow is essential to make sure you can pay employees, suppliers, or other business partners in a timely fashion. However, the amount…
W9 vs. 1099 Tax Forms: 3 Key Differences
Business owners are obligated to provide certain information to the IRS when working with independent contractors or freelancers. The two key information return forms to collect and submit to the…
Outsourced Accounting: Definition and Guide
Outsourced accounting refers to when a third party handles the accounting for your small business. This professional service manages your bookkeeping, taxes, payroll, financial reporting, and other accounts payable and…
What is Activity-Based Budgeting? Definition and Guide
If you’re looking for a budgeting system to implement in your small business, activity-based budgeting is worthy of consideration—especially if you’re looking to cut costs in your operation. Not only…
Cash Flow Budgeting: Definition and Guide
As a small business owner, you’ve probably got your eye set on one or more goals that will lead to expansion or growth for your company. In order to reach…
TIN vs EIN: The 3 Key Differences to Know
As you begin your career as a small business owner, it’s important that you take the time to set yourself up for financial success. This includes expanding your financial literacy…
Bookkeeping vs Accounting: 3 Key Differences
As you begin building your small business, there are a number of logistical and administrative matters to sort out that lay the foundation for your future growth. You need to…
The 6 Best Apps for Bookkeeping in 2023
Tracking expenses, paying employees, staying compliant with IRS regulations—bookkeeping is essential to efficient business operations. When you have a good system set up, it’s easy to stay on top of…
Accounting for Property Managers: Beginner’s Guide 2023
While it may seem daunting to those who are new to the industry, accounting for property managers is really no more complicated than accounting in any other industry. That said,…
5 Best Accounts Payable Software for Small Business in 2023
For an entrepreneur looking to streamline their company’s operations while also reducing the margin of error in routine business activities, investing in accounts payable software for small businesses is a…
What is Incremental Budgeting and How to Use It
When you’re running a business, establishing a budget and keeping close tabs on your financial standing is essential—it helps put your business on solid footing and sets you up for…
Revenue vs. Profit: The 4 Key Differences
If you’re a small business owner, you know the importance of tracking fluctuations in revenue vs. profit. It gives you important information about your business, and helps you project potential…
How to Use the Digital Envelope System in 6 Steps
The “envelope system” of budgeting is a physical method of parceling out money, using cash and envelopes, allows users to keep close track of their money. Today, technology has made…