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Do some of your customers pay on credit? If so, do you know how long it takes your business to collect payments from said credit sales? If not, it’s time to get to know day sales outstanding (DOS). Learn all about day sales outstanding and how to calculate DSO like a pro below.
Read More Days Sales Outstanding (DSO): What Is It?
It’s always great when a customer buys from your company. But what happens if the customer receives the shipment and realizes there’s something wrong with the order? Maybe the shipping costs are too high or the products aren’t exactly what they want. Whatever the issue may be, you’ve got to put in extra work to […]
Read More Making the Sale With a Good Faith Agreement: What Is a Pro Forma Invoice?
Want to increase transparency and potentially boost profits? If so, you may consider open-book management. So, what is open-book management? Get to know what open-book management includes, the pros and cons of it, and how it works.
Read More What Is Open-book Management?
Understanding your business tax obligations is not always easy. There are different ways a business can be taxed. One method of taxation is a pass-through tax. If you own a small business, you need to know about pass-through taxation.
Read More What Small Business Owners Need to Know About Pass-through Taxation
Saving isn’t easy for small business owners. But, regularly setting aside small amounts of money helps you maintain long-term financial health. Opening a business savings account is one easy way for your company to save funds.
Read More Should I Have a Business Savings Account?
As a small business owner, you probably spend a lot of time and money on taxes. But, not all businesses have to pay taxes. Have you ever wondered, “Is my business tax exempt?”
Read More Is My Business Tax-exempt?
The first time filing taxes for small business owners can be overwhelming. Make your first time filing business taxes run smoothly by understanding your liabilities.
Read More First Time Filing Taxes for Small Business
As a small business owner, you track the money your company earns in your accounting books. Can you identify the types of income you record? For example, ordinary income is a common type of income that your business earns.
Read More What Is Ordinary Income?
Offering credit to your customers can be a risky, but rewarding, endeavor. Do you know if providing credit will help or hurt your business? You need to weigh the pros and cons before you offer credit to customers.
Read More Offer Credit to Customers: The Pros and Cons
A business credit score measures how well your company handles debt. A good business credit score can help you gain capital to grow, as well as help you borrow funds when cash is low. You can improve your small business credit score with a few simple steps.
Read More 4 Ways to Improve Your Small Business Credit Score