A pay schedule might not seem like it is that complicated when you are starting up a business. After all, most companies operate on a bi weekly pay schedule or semi monthly pay schedule. Could it really be that complicated to organize the calendar with your payroll?...
More and more employers are switching from paper checks to paperless pay, but is the switch right for you? This article explains what paperless pay is, the benefits of paperless payroll, the types of paperless payroll systems, and how to implement them in your...
Accountants, investors, and business owners who want to understand a company’s profitability should know how to use a levered free cash flow formula (LFCF formula). This article explains what levered free cash flow is and how to calculate it, what factors affect...
Net Cash Flow (NCF) is a financial metric measuring the net movement of cash into or out of a business during a specific period, typically a month, quarter, or year. The net cash flow formula holds significant importance in assessing a company's financial well-being,...
A balance sheet's assets represent economic value and can be categorized into two main groups: intangible and tangible. A clear understanding of your business's asset categories can provide significant advantages. The foremost thing it contributes to is resource...
As a business owner, you must understand and implement into practice many accounting terms and concepts, from cash flow and balance sheets to break-even analysis and accrual accounting. One such concept that is central to a profitable and growing business is markup...
The concept of marginal revenue (MR) plays a pivotal role in shaping strategies, pricing models, and profitability assessments. Understanding marginal revenue is essential for any business leader, economist, or analyst striving to make informed choices that maximize...
An ARN or Acquirer Reference Number is a distinct marker assigned to credit or debit card transactions as the funds move from the merchant's bank to the cardholder’s bank through a payment processor. The reference number is essential for tracking and resolving errors...
In our QuickBooks for Mac Review, we delve into the features and pricing of this powerful accounting software designed for Mac users. Discover the ideal solution for efficient financial management on your Mac platform. QuickBooks for Mac is accounting software...
Revenue is the total amount of money your business brings in from selling your goods or services; profit is the amount you have left over after paying bills, operating costs, and other business-related expenses. This article will explain the difference between and...
Owner's equity is the value of the shares issued by a company. Equity is incredibly useful in order to know the worth of what you own in a company. It is also very important to know how to find and calculate it correctly. It all comes down to a simple equation. You...
Cash flow is the lifeblood of any small business. The goal is to keep your income higher than your expenses so that you can reinvest profits into building your business. But in order to manage your cash flow, you need to first understand it. That's where the right...
Business success involves having lot of business know-how at the very beginning of your business (though you'll learn a lot on the job!). Why not check out some accounting terms you should know? While business accounting terms may not seem like they should be the...
Individual retirement arrangements (IRAs) and 401(k)s are popular savings plans that American workers invest in to save for retirement. Two of the most common types of these plans are traditional and Roth accounts. This article will cover the differences between...
Deciding how to calculate the payroll of your business is essential. Paying employees is something you can't cut corners with. You need to make sure the calculation of payroll is correct. Payroll calculations that are off can add extra time and expenses to the cost of...
Knowing how to create an invoice is an important step for running a company. When you run a small business you need to make sure you are getting paid. Invoicing is how your company gets money for the work you do. There are certain things you must specify when creating...
The cash flow statement documents the cash and cash equivalent assets of a business. It demonstrates how a company not only manages its cash, but also how it generates cash. What Is a Cash Flow Statement? A cash flow statement lists a company’s cash and cash...
Cash Basis Accounting vs Accrual Basis Accounting What’s the difference between cash vs accrual accounting? A lot comes down to timing. With cash, the recognition of expenses and revenue is almost instant. With accrual, expense and revenue are accounted for later....
What Is The Full Accounting Cycle? The full accounting cycle, otherwise known as “bookkeeping,” is a big part of owning and running any business. The accounting cycle steps follow a process to make sure your records are balanced, up-to-date, and correct. From your...
People management skills are usually in high demand and short supply. If you are a business owner in charge of employees you should look into the skills needed for management. There are lots of ways to not only be there for your staff in times of crisis, but create a...
Sage Business Cloud Accounting is among the most popular online accounting platforms for small businesses. It is easy to use and has helpful features for cash flow forecasting, invoicing, and real-time reporting. Additionally, it offers mobile functionality to help...
An employee offboarding checklist is a handy tool to have as a small business owner. Workers in your company will leave, either voluntarily or involuntarily. With an employee offboarding checklist–sometimes called a “termination checklist”–you won’t skip any part of...
In the dynamic financial landscape, there exists a plethora of financial management software. Making the right choice for your business is a crucial decision. In 2023, two prominent names are Wave and QuickBooks. While both have earned a reputation for streamlining...
The types of employee benefits on the market are vital to understand as a small business owner. The four major ones are insurance, paid time off (PTO), retirement, and additional compensation. There are a few other examples of employee benefits such as remote work,...
Printing payroll checks accurately is important for any business, but especially a small to medium-sized one. Knowing how to make payroll checks correctly and to the letter of the law will save a lot of time, energy, and money in the long run. If you have employees...