Cash is the backbone of a business, that’s why it’s crucial to maintain cash flow of a company to run a business smoothly. When cash flow issues arise, they can affect small businesses in several ways, causing late fees, missed payments, etc. If left unresolved, cash...
Every business owner needs to keep and maintain accurate business records. Record-keeping is vital for cash flow management, meeting tax obligations, and understanding the financial position of a company. According to the law, you must explain all financial...
As a business owner, you might wonder why it is important to reconcile your bank accounts. Well, bank account reconciliation is essential that keep the business finances in order. Now, the question arises: what exactly you can prevent by preparing a bank...
Starting a new business comes with excitement as well as challenges. To keep your business running smoothly, ensure to get bookkeeping services for small businesses right from day one. Hiring a bookkeeper for your startup can be a smart decision that you can make....
As a business owner, you understand how crucial it is to maintain accurate records. However, amid daily activities, it's common for transactions to get lost. That's why bank reconciliation is essential. This important process not only helps ensure your records are...
Many business owners are unsure how long they must keep their financial records. Understanding the duration of keeping and maintaining financial records will help you avoid issues like the disorganisation of digital documents. Proper maintenance of financial records...
Keeping track of business income and expenses is crucial for every business. Maintaining records is essential because it helps businesses manage cash flow, comply with tax obligations, and understand the financial performance of a business. Business expense and income...
Pay As You Go (PAYG) instalments are regular prepayments toward your expected tax on business and investment income. As a business owner or professional, you're likely familiar with the term PAYG instalments, which are commonly discussed by bookkeepers. However,...
Are you among those business owners who often overlook the significance of accounts receivable management and focus on other factors of a business? Well, if you are doing this, you are mistaken here. Avoiding accounts receivable management can negatively impact the...
Running a business involves effectively managing workload, time, and finances to achieve set goals. It requires involving a team of skilled bookkeepers who adhere to industry protocols, policies, and codes of conduct. Financial management is essential for...