Advance payment is as safe to ensure proper cash flow especially if you are a small business owner who doesn’t have fluid cash flow like big businesses have. Small businesses deserve an equal opportunity at work. But they may not have the financial backing to undertake large projects. And here’s where advance payment comes into…
It’s been a few years since you are running this business. You are about to end this financial year and now you want to know – What is my actual business worth? Most small business owners consider only revenue while assessing their business worth. However, they rarely consider one fundamental thing in the calculation Fixed Assets. An example…
Small business owners are often confused about the difference between cash and accrual basis accounting. This might sound like something that an accountant should show but this information is useful for business owner as well. In this article, we’ve explained how each of these accounting methods work. Find out more which accounting method is best for your…
“You Can’t Improve What You Don’t Measure!” Small businesses must be well-informed to survive in a competitive environment and one of the vital competencies they must develop is to read and understand important financial statements. Understanding essential financial statements such as ‘Trial Balance’, ‘Balance Sheet’, and ‘Profit and Loss statements is of utmost importance, as…
Advance accounting, is a skill every business owner should be well aware of. The way advance accounting works may feel very overwhelming for business owners, but this is were this article will come in handy! In the following article, we have listed 10 tips for advance accounting using journal entry. 1. Fixed Asset Purchase. Depreciation allocates…
Owners or co-founders keep investing in their own businesses during early stage of their startup or even at later stage. This helps them to improve the company’s cashflow or make funds available for new equipment, paid marketing or hiring additional staff. Recording capital investments of your own money or your business partner’s money is important for keeping company accounts…