This blog includes 70+ bookkeeping and accounting articles about mastering and utilizing your financials for growth, like…
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Year-end closing is the process of updating your accounts to accurately reflect your business’s activities before you finalize your financial statements. This includes making adjustments for things like expenses that have been incurred but not paid (like bills) and revenues for services you’ve provided but haven’t yet billed. In this article, we’ll walk you through
Read moreAccounts receivable (AR) represents the money that customers owe to a business for products or services they have received but haven’t paid for yet. Managing AR well is important because it helps a business have enough cash on hand for its daily operations and growth. This article will explain the basics and tips for good
Read moreUnearned revenue represents payments received for services not yet performed or goods not yet delivered. It’s crucial for small business owners because it affects both your cash flow and how you report income. This article will cover how to recognize, manage, and report unearned revenue, ensuring you’re accurately reflecting your business’s financial health. This guide
Read moreFiguring out what your small business is worth can be tricky, but knowing its value is crucial, whether you’re selling, seeking investment, or planning for the future. We’ll walk you through how to do just that, touching on methods from cash flow analysis to comparing similar businesses. This guide is also related to our articles
Read moreZero-based budgeting starts every budget from scratch, asking you to justify each dollar you plan to spend. It’s a method that can uncover inefficiencies and allocate resources more effectively. We’ll explain how zero-based budgeting works, its benefits, and how to implement it in your small business for better financial control. This guide is also related
Read moreCreating a budget is vital for small business owners looking to steer their business towards growth while keeping a tight grip on finances. A solid budget helps you plan for the future, manage cash flow, and make informed decisions. This article will cover why budgeting is essential, how to create a realistic budget, and ways
Read moreOutsourced bookkeeping lets you focus on growing your business, knowing your money is being handled by experts. It saves time and helps avoid money mistakes. In this article, we’ll discuss the benefits of outsourcing your bookkeeping, how to choose the right service, and the impact it can have on your business’s growth and financial health.
Read moreKnow your business’s financial health by understanding two key figures: operating income and net income. Use them to tweak your strategy, check how you’re doing, or show off your financial health to investors and lenders. Here’s a straightforward guide to help you, the small business owner, get the hang of operating and net income. This
Read moreProfit margin, a key indicator of a company’s financial health, is calculated by dividing net income by revenue and expressing the result as a percentage. This metric highlights how effectively a company converts sales into profits. This guide will help you understand how to calculate profit margin and how to interpret it. This guide is
Read moreFinancial ratios give you tools to understand your business in a simple, direct way. While they don’t give a complete picture of your business, they’re very useful to, outline strengths and weaknesses, gauge financial health & evaluate profitability. This guide is also related to our articles on understanding the return on assets formula, how do
Read moreYou’ve found our guide to understanding, measuring, and improving Return on Assets! Return on Assets (ROA) is an important financial metric that measures a company’s ability to generate profit from its assets. Understanding and optimizing ROA can impact your business’s efficiency and profitability, making your business more attractive to lenders, investors, or buyers. In this
Read moreAccrued expenses are money that your business owes but hasn’t paid yet. These could be bills or wages that you need to pay in the future. They are important for understanding your business’s real financial situation, even if the cash hasn’t moved yet. This guide helps you recognize and manage these expenses simply and clearly
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