Setting Up Your Business Accounting System
You’ve done the hard work. You have a new business idea or you’ve found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly setting up your business’ accounting system. Here’s how: Consider business entity. Choosing the right legal and tax entity for your business is important. Consult experts…
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Cash Flow: A Central Part of Your Business Plan
When tracking and planning your business objections, it’s easy to focus your analysis on two reports — the income statement and balance sheet. But one of the primary keys to your business’s success relies more on how you handle the money flowing in and out of the business. The appearance of a solid profit can…
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5 Ways Payroll Services Boost a Business
Is a payroll provider right for you and your business? While it is an added expense, there are good reasons to add a partner to help with this service. Here are five things to consider: Allows full attention on growing the business. If a portion of employees is focused on managing and processing payroll, business growth…
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Cash Flow Concepts That Can Save Your Business
A sad and oft-repeated truth is that half of all new businesses fail within the first five years. Although many factors contribute to business failure, a common culprit is poor cash management. All businesses, large and small, must deal with the uncertainty of fluctuating sales, inventories and expenses. Follow these practices to moderate the ebb…
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The Value of Good Bookkeeping
Small businesses are constantly faced with decisions of when to bring in outside experts to help with operational functions that go into running a business. One of those functions almost certainly includes the financial aspect of a business. And while some business may not need – or want – a full-time accountant, a bookkeeper is…
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