As a small business owner, you have to buy things to run your company. Many vendors and suppliers send invoices when you buy from them. Not managing invoices could lead to late payments, extra fees, and damaged relationships. To better manage business bills, take steps towards accounts payable process improvement.
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Accounting Tips, Training, and News
Accounting for Intangible Assets: A Complete Guide on Amortization and Useful Life
November 3, 2022When you own and operate a small business, you build up a collection of tangible and intangible assets. Tangible assets include valuable things you can touch, like your business’s building, vehicles, equipment, furniture, etc. Intangible assets are the opposite. They are not physical items. As a result, accounting for intangible assets can get tricky.
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What Is Chargeback Fraud, and How Will it Affect My Online Business?
November 3, 2022Without sales, your business’s bottom line would be in the negatives. But if a customer issues a chargeback after you make a sale, you might have to pay up. And sometimes, customers falsely make a chargeback claim. Chargeback fraud is a hassle nobody wants to deal with, but it could happen when you own an […]
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Business Tax Credit vs. Tax Deduction: The Distinction That Makes a Difference
November 3, 2022Reducing your tax liability can be a huge relief to your small business. Individual taxpayers and business owners alike have the option to lower their tax bill through business tax deductions and credits. What’s the difference between business tax credit vs. tax deduction?
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Different Types of Equity for Your Small Business: Get the Lowdown
November 3, 2022There are many different accounts you can use to record equity in your business accounting books. Before you can begin tracking equity, you must learn about the different types of equity that can apply to your company.
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Basic Accounting Forms for Small Business That You Should Know
November 3, 2022As a small business owner, you have many accounting responsibilities, like tracking your business transactions, income, and expenses. And on top of juggling these tasks, you must also understand which basic accounting forms are relevant to your small business.
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Do You Know How to Calculate Your Business’s Burden Rate?
November 3, 2022Running a business has some indirect costs. These costs aren’t always apparent, which is why they’re the hidden costs of running a business. It’s important to keep track of your business’s indirect costs. And, you should know how your indirect costs compare to your direct costs. To do this, you’ll need to find your burden […]
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9 Money Management Tips to Keep Your Small Business Afloat
November 3, 2022No business owner likes being strapped for cash, but mismanaging cash flow happens. If you’re struggling to control your small business funds, check out the money management tips in this article.
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How to Conduct Due Diligence When Acquiring a Small Business or Product
November 3, 2022Are you considering buying a business to start your journey into small business ownership? Or, do you want to acquire another small business to expand your existing one? Or, do you want to acquire a product to add it to your business? If you answered yes to any of these questions, you need to know […]
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How to Change from Cash to Accrual Accounting
November 3, 2022When you started your business, you might have chosen to use cash-basis accounting. Cash basis is the simplest way to record your books. It is good for new businesses with few transactions.
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