For many small businesses, Excel is a core part of daily operations. It’s used for everything from budgeting to inventory tracking. When it comes to financial accounting, Excel can even…
Bookkeeping and accounting are often used interchangeably, but they serve different purposes in managing business finances. Bookkeeping is about recording transactions, while accounting focuses on analyzing financial data and making…
Bookkeeping is a must for any small business owner, helping track income, expenses, and overall financial health. While there are plenty of accounting software options available, many entrepreneurs still rely…
Tax season can be stressful—especially for small business owners managing contractor payments. If you’ve hired freelancers or independent contractors in 2024, the IRS requires you to file 1099 forms for…
If you’re running a business as a sole proprietor, you might be wondering whether you need an Employer Identification Number (EIN) in 2025. The short answer? It depends. An EIN…
Running a business is no easy task, and one of the most crucial aspects of managing a successful business is maintaining a clear separation between your business and personal finances….
Keeping track of invoices and payments is an essential part of any successful business. Without efficient tracking systems in place, businesses risk cash flow issues, payment disputes, and strained client…
When you own a business, paying your suppliers and vendors on time is critical to good cash flow management. If you don’t have an accurate and easy-to-implement accounts payable system,…
Managing your cash flow and paying off your short-term debts is critical for your business’s success. Automating your accounts payable (AP) process is the key to ensuring you make payments…
No matter the size of your business, you know just how important it is to stay on top of your company’s finances. One essential aspect of managing your finances is…
Invoice reconciliation is a vital process for businesses of all sizes, in all industries. If you’ve partnered with a vendor who supplies products or services you use for your business,…
While the terms “bills” and “invoices” are often used interchangeably, there are actually significant differences between the two. In general, a business issues an invoice to clients or customers to…
Accounts payable refers to short-term debts and obligations that have not yet been paid. When a company has outstanding accounts payable, the sum of those amounts is listed on a…
In recent years, digital transformation has taken the business world by storm. However, some departments have been slower to catch up than others. Some accounts payable (AP) departments have struggled…
Every time you purchase a product or service for your business, you’ll receive an invoice that must be processed and paid on time to avoid late fees and stay in…
