Like other duties, managing payables and paying debts is also important to maintaining the healthy financial status of the company. From small businesses to large ones, accounts payable is an indispensable task that must be done accurately and needs strategic...
Regardless of the size of your company, most probably you have to generate and receive invoices and reconcile bank accounts weekly, fortnightly or monthly. Being a business owner, you have to look after numerous things and bank reconciliation and invoicing can add...
When you ask a business owner what is the most annoying part of running a business, then most probably, they will say preparing for tax season and preparing a business activity statement (BAS). It is a legal requirement to stay on top of BAS, but for many business...
For any business, payroll is an essential process as paying your staff on time and following employment laws is important. You can automate some processes using payroll software. The best payroll software will save you valuable time and money. However, with so many...
Running a business is not an easy task and you may not have the time to manage your own business books. If you are considering hiring a bookkeeper, one of the first things you will consider is how much does a bookkeeper cost? Below is an overview of the need for a...
Financial analysis and management of cash flow statements both are indispensable parts of running a business successfully. It helps you understand where you are financially, track business progress, and set goals. However, it can take time and effort to handle your...
There is a lot that small business owners need to know and do when it comes to running their companies. From expanding the product and service offerings of the company to cultivating and sustaining customer relationships, marketing, expanding the personnel, and...
Every company needs to have properly managed business finances to run the business efficiently. Otherwise, business owners won’t be able to know if they are earning a profit or loss. Without account reconciliation, you won’t have accurate records that would only cause...
It can be seen that many business owners prefer looking at profit and loss statements to know the financial situation of their company. However, when it comes to balance sheets, they don’t understand its significance. Today’s blog will outline the importance of a...
Have you ever worked on a project without creating a budget plan? If so, there are chances that you may run out of budget and had used your savings to purchase extra materials. After this, you may have learned an important lesson that creating a budget plan is...