Accounting Tips, Training, and News for Small Business

Accounting Blog

Accounting Tips, Training, and News

We are committed to providing timely updates regarding COVID-19.

Should You Pass Along Swipe Fees to Customers?

Passing swipe fees onto your customers could affect your small business.

Right now, 76% of American adults have at least one credit card. With fewer people carrying cash, it’s common for customers to break out a credit card for everyday purchases. While credit cards offer customers more spending options, swipe fees attached to charges could mess with your small business finances.

Swipe fees are extra costs tacked on to the amount your customers pay. The fees cover the credit card company’s costs for processing transactions. Swipe fees usually average 1.5% to 3% of the total sale. Continue reading “Should You Pass Along Swipe Fees to Customers?”

Learn the Difference Between Bookkeeping and Accounting [Infographic]

This infographic explains the difference between bookkeeping and accounting.

Bookkeeping and accounting are two separate things, but they work together. You should understand the difference between bookkeeping and accounting to better understand how they overlap.

When you use the two together, you can improve your business’s profits. You will have better-organized books and informative financial statements. With these documents, you can track your business’s progress and spot problems before they become unmanageable.

Whether you do your own bookkeeping and accounting or outsource the tasks, you should still have a basic understanding of the two.

What does this infographic include?

This infographic explains the differences between bookkeeping and accounting. It also explains how they are linked to each other. Continue reading “Learn the Difference Between Bookkeeping and Accounting [Infographic]”

5 Tips for Payment Terms That Improve Your Cash Flow Today

Use payment terms to improve your cash flow.

As a small business owner, do you struggle to collect customer payments on time? If so, you may want to include payment terms with your sales.

Payment terms are guidelines you set for customers. The terms tell your customers how, when, and what to pay you. If a customer does not pay you the total amount by the scheduled date, you can choose to charge interest. Continue reading “5 Tips for Payment Terms That Improve Your Cash Flow Today”

3 Accounting Benefits of Employee Engagement

Benefits of employee engagement woman explaining 3 points

You can use employee engagement to create relationships between your business and employees. Employee engagement is when employees are committed to your company and the work that they do. You need to have an active role in making employee engagement possible. The benefits of employee engagement help your company on many levels, including your accountingContinue reading “3 Accounting Benefits of Employee Engagement”