From running payroll to tracking down receivables and calculating the value of inventory, ask any small business owner about bookkeeping and you’ll probably hear plenty of complaints. Learning basic accounting best practices is a great way to keep your books ready for potential investors and the IRS, if they should ever come calling.
Here’s what you need to know about bookkeeping, and what you can do if you’ve had enough.
When you’re operating an online business, running a bakery, an interior decorating practice, or a restaurant, a tornado, earthquake or hurricane may seem like the last of your worries.
In the wake of Hurricane Matthew rolling through my area last week, I am reminded that effective business emergency disaster planning makes all the difference. The area where I live was hard hit and for many it will be awhile before they recover. Although we are in the early stages of recovery it is certain that many of the businesses affected will never recover for many reasons.
At some point, your small business may become unprofitable. Maybe not overall, but during a month or a small period of time, you will most likely post a loss.
That can be a stressful situation for a small business owner. When your business is unprofitable, you have a decision to make: give up or proceed.
When your business is unprofitable, here is how you can proceed with confidence.
Whether we are business owners or working as part of a company team we are also parents, consumers, and home-owners, and it can sometimes be a struggle to juggle both our business and our personal lives. Being organized at work is a proven way for the small business owner to save both time and money, and it can also help to reduce stress along the way.
Here are four organizational tips that are easy to implement: