As a business owner, you are likely familiar with certain accounting accounts, like your assets or expense accounts. But did you know that each account can also be labeled as a permanent or temporary account?
Read More Do You Know How Temporary vs. Permanent Accounts Differ?
Accepting check payments from customers may increase your chances of making a sale, but it comes at a price. If you receive counterfeit checks or checks from people with insufficient funds, you may have to deal with bank fees, wasted time, and lost money. To avoid these bad check nightmares, follow some standard precautions for […]
Read More 7 Precautions for Accepting Checks: Check Acceptance Guidelines
As a business owner, you have likely heard of the term sales tax before. Heck, you might have even heard about sales tax nexus before. But, have you heard of economic nexus? If you have in-person or online sales, it’s time to listen up and learn about economic nexus. Read on to learn what is […]
Read More What Is Economic Nexus, and Does it Impact Your Business?
According to one source, over 60% of small businesses don’t have a point of sale system in place. Does your business fall into 60%+? If so, your small company could be missing out on a smoother system and in-depth sales reports.
Read More What Is a POS System, and How Can It Improve Your Day-to-day Operations?
Do you own a service business? If so, you know that figuring out how to price services isn’t always easy. To make sure your small business is profitable, try these tips for pricing services.
Read More Strategies and Formulas for Pricing Services at Your Small Business
According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love.
Read More What Is a Cash Reserve?
If you use a double-entry bookkeeping system, you know that every account you debit requires you to credit the corresponding account, and vice versa. But what happens when the transaction affects more than two accounts? It’s time to create a compound journal entry.
Read More Step up Your Accounting Game With a Compound Journal Entry
When Goldilocks broke into the Three Bears’ home, she needed a bed that was just right, not too small and not too large. Likewise, when you break into the market, you need to set prices that are just right, not too low and not too high. Could freemium pricing be your “just right” strategy?
Read More Going the Freemium Pricing Route: What to Know
Part of being a business owner is dealing with all kinds of expenses. One of the expenses you incur and manage are general and administrative (G&A) expenses. Never heard of G&A expenses? Need a brief refresher? Here’s the rundown on what is G&A and how it works in your business.
Read More Welcome to Your Go-to G&A Expenses Guide
After weeks of back and forth, you finally break down and are ready to buy that new plasma screen TV. But before you take the plunge, do you look for discount pricing to score the best deal? If you do, you’re like 74% of Americans who say special offers are a top factor when deciding […]
Read More How to Use a Discount Pricing Strategy in Your Business