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…
Owning a small business requires a good budgeting and accounting system. Whether you’re new to the game or have been budgeting for years, the right tools can make a big…
In order to maintain a consistent understanding of how your business is performing, calculating and regularly updating your operating profit is essential. Not only does this provide a snapshot of…
Maintaining your small business’ books is just about the most important part of being a business owner. Without good bookkeeping, it’s nearly impossible to gauge the financial health of your…
Establishing good accounting practices is one of the biggest struggles facing small businesses. Entrepreneurs wear many hats and often run a lean business, which can make it difficult to get…
Trying to figure out how to handle payroll for your small business can quickly become a nightmare. Different types of pay, deductions, and labor rules need to all be addressed…
If your staff gets a check or direct deposit, what they see is their net salary. They may wonder how you arrived at that figure. How much of their wages,…
One of the hardest things small business owners may deal with is chasing customers collect payments from customers. And let’s face it, collecting payments is the most important thing to…
As a small business owner, you want your venture to grow and thrive. To maximize your business’s potential, it’s so important to have a good grasp on your cash flow….
The importance of financial management What is a w3? As a small business owner, financial management can often feel intimidating and overwhelming—especially when it comes to employee forms and documentation….
Need to send or receive a remittance? Confused what the term remittance actually means? This page gives a breakdown of what remittance actually is along with a few examples of…
In the world of business, the specifics of opportunity cost and how to calculate opportunity cost are sometimes misunderstood. This page will tell you everything you need to know about…
For any business, the operating cash flow ratio is an important measure of profitability. For small business owners, it is essential. But with so much of your time spent running…
There’s a lot to focus on when starting your own business. How will you get customers? Are you going to employ people to help you get started? How are you…
Running your small business can seem romantic. You’re making a living from selling a product you believe in or a service you provide. But on top of all that there…
