There’s a lot that can go wrong with a business’s everyday functions—especially with regard to bookkeeping. Most financial discrepancies occur because of the methods used by your company for accounting purposes. Some of these bad bookkeeping methods include: Here are some areas that get affected if your poor bookkeeping practices are not up to the mark: Purchases […]
Tax planning is basically forecasting your business’s tax liability for a forthcoming year using the financial records and then creating circumstances and ways to reduce it. What Are the Different Types of Taxes Small Business Owners Have To Pay? Small business owners have to pay: There is also an excise tax; however, the excise tax […]
The importance of accounting for small businesses can be gauged by the fact that no business can survive without having a clear picture of its long-term and present success. If you don’t carry out bookkeeping right, you’ll never know if your marketing and administrative strategies are bearing any fruits. Moreover, performance indicators such as market share, […]
As a business owner, your top priority should be doing everything you can to stay one step ahead of your competitors. Some of the most effective small business strategies include procuring raw materials from a cheap but high-quality source, providing customers with more value for money, improving your customer service, and of course, improving business […]
Of all the departments in your small business, the accounting department is the most crucial one. In fact, you can call it the lifeblood of your business. It keeps tabs on when and where the money comes in and goes out and determines whether you’ve met or missed profitability targets. But this task isn’t easy. […]
Moving up the company lifecycle ladder is not an easy feat, but there’s a huge payoff on the other side. When your small business moves up a notch and enters the growth phase, there’s a myriad of growth opportunities that you can benefit from. By this time, a lot of people are aware of your brand, and […]
