For startups and small businesses, bookkeeping can be a real challenge. As an owner or manager, you encounter these three options for accounting: do it yourself, hire an employee to do it, or let a third party take care of it. All of these options have drawbacks. With your spread-thin time, doing it yourself eats…
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Let’s outsource the accounting department. Now this sounds like a sweet plot for a fun Americans sit com show, but its actually a very effective way to handle your book, especially as a small business owner. Most of the young entrepreneurs tend to make mistakes such as improper team management, lack of multi-domain experience,…
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The digital age has brought endless possibilities to start online businesses of all shapes and sizes, so there’s something out there for all types of people. If you’ve got a knack for numbers and a good head for organization, starting a bookkeeping business might just be the right choice for you. It’s also a…
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If youve been running a small business for a few years, its likely that your questions have evolved from the earlier days of How do I attract more customers ? to questions more along the lines of How can I utilize my time better? and What questions dont I know to ask that could grow my business faster? You might…
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Have you struggled to find the accurate amount of a transaction to close out the month? Maybe your team scrambled around to recognize what went wrong in the reporting cycle; or tried to identify how you achieved stronger sales last quarter. Problems like workflow issue solutions, significant accounting errors, and budget assessments can all…
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When you are running a company or managing accounting, there are some basics you need to be clear about before you indulge in complicated transactions. Transactions can be difficult and, in order to ensure that all is in place, bank reconciliation is necessary. If this prompts questions to pop in your head, further down is…
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Inventory is the collection of goods a company has in its stock. This includes raw materials, unfinished goods, and goods that are ready to be sold. Generally, inventory refers to the finished goods. This can also include the raw materials required for the production of finished goods called work in progress. Inventory turnover is…
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One of the best investments a small business owner can make is in people–both employees and customers. And you can easily serve your people with simple customer relationship management (CRM) software. The vast majority of companies have systems to handle data about product management. However, plenty of data and analysis is out there and received…
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The most awaited and new tax system in India came into existence on 1st July 2017. After this, most of the businesses were able to continue smoothly as they adopted GST Compliance. But there are many businesses still that are not very sure about various compliances which can lead to heavy fines and penalties. Rules…
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