Do you know how long it takes you to pay your small business’s invoices? The number of days between receiving an invoice and sending a payment plays a big part in your company’s cash flow. You can track how long it takes you to pay bills by calculating the days payable outstanding.
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6 Tips for Converting to a Paperless Office
Is your small business cluttered with paper documents? When you rely on paper to keep track of business finances, you often end up wasting time and resources. For an efficient accounting process, follow our tips to create a paperless office.
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Business Entity Tax Basics: How Business Structure Affects Taxes
Business structure affects many aspects of your company, including your tax obligations. Choosing the right structure for your business could mean the difference between expensive, time-consuming taxes or affordable, simplified tax liabilities. As a small business owner, you must know how business structure affects taxes.
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How to Find Private Investors for Small Business
As your business grows, you need more capital. But, it can be a hassle for small business owners to get funding from large financial institutions. For some small business owners, working with private investors might be a smart move. You need to know how to find private investors for your small business.
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How to Conduct a Risk Analysis for Your Small Business
Small business owners take risks every day. But if you put too much at stake, your business bottom line could suffer. To make sure your decisions are sound, conduct a risk analysis for your small business.
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How to Get a Small Business Loan With Bad Credit
Getting the finances you need to grow your business isn’t easy. Securing funds is especially hard if you have poor credit. You need to know your options for business funding with bad credit.
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Amortization Meaning: Definition and Examples
To protect your business and operate under the law, you might obtain licenses, trademarks, patents, and other intangible assets. These items can be costly to a small business. You can use amortization to reduce your taxable income throughout the life of intangible assets. What is amortization?
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Use Payroll Reconciliation to Record Your Books Accurately
As a small business owner, payroll is one of your biggest expenses. You need to make sure you run payroll and record it in your books correctly every time. Check your general ledger entries with payroll reconciliation for accurate accounting and payroll records.
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Types of Invoices for Small Business
Like many small business owners, you send customers bills after providing a product or service. An effective invoicing system gives customers more flexible payment options. You need to know which types of invoices to send customers for different situations.
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Fixed Asset Management for Small Business
No matter what kind of business you run, you probably own property that helps you provide products and services. Your company’s assets are a valuable part of your operations and need to be carefully maintained. Use a fixed asset management system to organize information about your business property.
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