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Having many expenses is an inevitable part of owning a small business. But, you also need to be able to generate enough money to pay for those expenses. To determine whether you can pay off your short-term debt, you need to understand working capital.
Read More The Ins and Outs of Business Working Capital
Even with automation and easy-to-use accounting tools, bookkeeping mistakes can happen. Journal entry errors can end up costing your small business time and money. Learn how to get your books back on track with correcting entries.
Read More Use Correcting Entries for Mistakes in Your Books
No matter the size of your company, there is always a need for capital in order to operate and grow. For small business owners, one funding option is a personal loan. These loans focus on your financial history, not your business’s. Find out if a personal loan for business is right for you.
Read More 7 Questions to Ask Before Using a Personal Loan for Business
After deciding to streamline your business processes with accounting software, you might be wondering, What now? You need to know how to use accounting software to get all the great benefits out of it.
Read More How to Use Accounting Software
As a small business owner, you can offer several payment options to your customers. One way to receive money is by accepting check payments. To broaden payment options for your company, you need to know how to accept personal checks.
Read More Accepting Check Payments at Your Small Business
You need to advertise to promote your business brand, increase customer awareness, and build your reputation. Each time you have an advertising and promotion expense, you need to record it in your small business accounting books.
Read More Advertising and Promotion Expense: Journal Entries and Tax Deductions
Fifty-seven million U.S. workers are freelancers, representing a shift toward self-employment. But the freedom of freelancing comes with one big disclaimer: you are responsible for everything, including your accounting books. Bookkeeping for freelancers might seem overwhelming, but it’s doable with the right knowledge and tools.
Read More Bookkeeping for Freelancers: Tips for Managing Your Accounting Books
Thinking about providing petty cash to employees? Before establishing a petty cash fund at your small business, be prepared to create a petty cash accounting system.
Read More Petty Cash: Accounting & Beyond
You know the old saying—money makes the world go ‘round. Today, there are many different payment options to keep the world spinning. But, some businesses prefer to limit customer payments to cash. Do cash-only businesses clog cash flow?
Read More Cash-only Businesses: Are They Worth It, How to Run, and More
As a small business owner, setting up your accounting books and maintaining accurate records is essential. To make that happen, you need to be familiar with accounts payable and accounts receivable. Both accounting entries are part of double-entry bookkeeping, but what is the difference between accounts payable vs. accounts receivable?
Read More Accounts Payable vs. Accounts Receivable