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.
Read More How to Conduct a Risk Analysis for Your Small Business
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.
Read More How to Get a Small Business Loan With Bad Credit
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?
Read More Amortization Meaning: Definition and Examples
To start, operate, and grow a business, you most likely need to take on some form of debt. Many business owners have revolving and installment debts to fund their companies. In order to make smart financing decisions, you must understand the difference between revolving debt vs. installment debt.
Read More Revolving Debt vs. Installment Debt
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.
Read More Types of Invoices for Small Business
When you sell goods or services, you need to create a record of the transaction. Depending on the situation, you will either give customers an invoice or receipt. What is the difference between an invoice and a receipt? Understand invoice vs. receipt distinctions to avoid confusion.
Read More Invoice vs. Receipt: What’s the Difference?
Selling a product to a customer and collecting money isn’t the end of the sales process. You also need to prepare in case customers return goods. To prevent confusion and frustration, you need to have a clear small business return policy in place.
Read More How to Create a Small Business Return Policy
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.
Read More Fixed Asset Management for Small Business
As a small business owner who accepts cash payments, you must protect your business from counterfeit money. There are millions of dollars in counterfeit bills in circulation. Learn how to tell if money is fake before you accept counterfeit bills.
Read More How to Tell If Money Is Fake
When you buy assets for your small business, you need to account for them in your books. Recordkeeping for assets doesn’t need to be difficult. The cost principle is a simple method for managing the value of your long-term assets.
Read More What Is Historical Cost Principle?