As a small business owner, keeping track of inventory is an essential part of running your business. Perpetual inventory is one solution for inventory accounting. Read on to learn more about what is perpetual inventory, how perpetual inventory systems work, and the pros and cons of perpetual inventory.
Read More The Ins and Outs of Perpetual Inventory
When you make a sale on store credit, there is never a guarantee that the customer will pay you on time. In fact, one in three Americans is late paying their debts. Instead of banking on timely customer payments, plan for the worst. And, consider charging tardy customers a late payment fee to reclaim your […]
Read More How to Charge Customers a Late Payment Fee and Get Your Cash Flow Back on Track
There are different types of assets your business may have. You have probably heard of fixed and current assets. But, do you know the difference between fixed assets vs. current assets?
Read More Fixed Assets vs. Current Assets: What’s the Difference?
Most businesses must pay taxes to the IRS. And, companies report information about their income, tax deductions, and tax payments on small business tax returns, which vary based on business structure. When nonprofit organizations apply for and gain tax-exempt status, they do not have to pay federal income taxes. So, do nonprofits file tax returns? […]
Read More Do Tax-Exempt Nonprofits File Tax Returns?
According to one report, 65% of business comes from existing customers. But, do you know how much value each customer adds to your small business over the course of your relationship? To estimate the total that customers will spend at your company, calculate customer lifetime value.
Read More How to Find Your Customer Lifetime Value
Hooking new customers is an expensive pain point for many businesses. Your new customer acquisition cost (CAC) can be anywhere from five – 25 times as expensive as hanging onto your current buyers. How much are you dishing out on marketing to potential customers? Is all that spending paying off? To measure your efforts, you […]
Read More How to Find Your Customer Acquisition Cost
As a busy entrepreneur, you don’t always have the time to think about your business tax return due date. It can be easy to miss your business tax return deadline with so much on your plate. You may be asking yourself, When are business taxes due? Learn more about your business tax due date and […]
Read More Business Tax Return Due Date by Company Structure
Does your business have enough money to pay off debts? If you aren’t sure, then you need to learn about liquidity.
Read More What Is Liquidity?
In business, the value of your assets doesn’t stay the same. An asset’s market value might be higher or lower than its book value. If the value of your assets permanently changes for the worse, you need to record the impairment of assets.
Read More How to Handle Impairment of Assets the Right Way
If you accept check payments from customers, you need to know that the checks might not always clear. A customer might not have enough in their bank account to cover the check amount. Learn what to do with checks that bounce.
Read More What to Do When a Customer Check Bounces