What is POS system

What Is POS System and How It Works?

  Each aspect of your business is equally important, but if there’s one that stands more crucial than others, that would be the point-of-sale (POS). It’s the moment when a potential client finally transitions into a paying customer. Most businesses already have an established point-of-sale system. For brick-and-mortar stores, that would be the cash register…

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Gross Profit Margin

Understanding Gross Profit Margin with Formula and Example

Businesses run on the sole motive of keeping growing consistently and earning profits. But all days are not the same. They face some difficulties. What is important here is to constantly monitor the health of your business, the financial ratios and profit margins. The analysts need to constantly evaluate the firm’s ability to generate profits…

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Assets and Liabilities

What are Assets and Liabilities?

The Asset to Liability ratio of businesses can help assess their profitability and scope for growth accurately. Information regarding this ratio can help prepare financial statements for a company. Financial statements include the Balance Sheet, the Cash Flow Sheet, and the Statement of Income. One must have a clear understanding of assets and liabilities to…

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Ledger in Accounting

What is a Ledger in Accounting?

Money is the primary component of a business. The prime goal of all business entities is to earn profit. The small business entities having low turnover or run by 1 or 2 persons. Need not keep a record of transactions as the transactions are limited. Yet, as the business grows. The entity has to record…

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Reduce Business Expenses

5 Tips For Reducing Business Expenses

Understanding what your expenses are is the first step in establishing a business that has a solid foundation. While it’s true that counting your expenses can be a lot less exciting than counting the profits of what your business provides, it still is an important part of how you can fully understand how the inner…

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