If you own a small business, you know how time-consuming and expensive inventory management can be. Managing inventory manually is very labor-intensive. There is a large amount of data that we need to keep track of. Also, aren’t you done with the “Excel sheet life” by now? Those sheets have been a nightmare for several…
To make your staffing business efficient, you need software for staffing agencies. Using relevant software for staffing agencies can help your business grow. As simple as it sounded, choosing the right staffing software for your business can be a hit or a miss. There are various software in the market to fulfill your business’s requirements.…
The well-known accounting software QuickBooks Online will exit the Indian market on 30 April 2023. As the deadline approaches, the rush to migrate from QuickBooks Online to other software is at an all-time high. This migration process is creating a lot of chaos and leading to a lot of confusion. You might be thinking about migrating from Quickbooks to…
A very important metric that every business owner should be well aware of is the metric of managing once cash flow. Cash flow helps you understand how you are using your funds as well as help you allocate your capital resources appropriately. For a new business owner learning how to manage their cash flow is…
We all have heard the terms invoice and bill. However, I’m sure that not many of us are fully aware of the subtle differences between an invoice and a bill. Even I wasn’t, for several years after I started working. After running my business for over a decade, I’ve seen the confusion on people’s faces…
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…
As small business owners ourselves, we know how important it is to keep our finances accurate and organized. But when it comes to fixed assets like machinery, equipment, or office furniture, we can’t just expense the entire cost at once. That’s where depreciation comes into the picture. It allows us to gradually account for the…
Certain things just dont mix well like milk in Maggie or your parents and your goal plans, and even tho you can separate your goa plans and your parents .You should separate your business and personal finances separately. On paper this might sound simple and easy, but one day to get some groceries from…
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…
One of the most popular methods of financing is borrowing. Loans can be short term, long term, secured, or unsecured and should be recorded accordingly. It is important to keep track of the principle and interest amount, and record them respectively in books for correct accounting. Classification is vital as ‘interest’ paid on loan is…