An invoice is a conclusive document that acts as a record of the detailed information about a sale or purchase of goods or services. It is also considered an indispensable tool for businesses as it can help keep track of their
5 Ways to Better Manage Your Accounts Receivables – Infographics
Managing your accounts receivables ensures a smooth flow in your business operations. Late payments, misplaced invoices, and unsettled debts can negatively impact cash flow and impede your company’s growth. Additionally, inefficient processes can also decrease productivity. Some business owners might find
Tips to Protect Your Small Business Against Fraud
Business fraud is dishonest and illegal activities committed by a person or a company to achieve financial gain. And, unfortunately, every business can be vulnerable to fraud, with small and mid-sized enterprises the most common victims of fraud. Fraud can take
Best Small Business Accounting Practices You Should Implement
Accounting is an administrative task that allows you to keep track of the money that comes in and out of your business. With proper accounting, you will have insight into your expenses and cash flow, allowing you to evaluate your company’s
Small Business Bookkeeping Tips: How to Set Up and Manage Your Own Books – Infographics
Bookkeeping is an essential part of running a business. It is the process of recording and managing all financial transactions made throughout business operations. The collated data is then used in the accounting procedure, which involves analyzing, evaluating, interpreting, and reporting
Ways to Optimize and Improve Your Accounts Payable Process
The accounts payable (AP) is seen as a back-office function and is often behind accounts receivable (AR) in terms of a company’s management priorities. However, despite taking a back-seat to AR, accounts payable still has a significant role to play in
Understanding the Types of Business Liabilities and How to Manage Them
Most businesses have liabilities, and the only time a company might not have liabilities is if it only pays with cash and only accepts cash payments. However, since several businesses operate in digital environments, it is nearly impossible for an enterprise
How to Prepare Your Small Business for Tax Season in Canada – Infographics
Among the responsibilities of being a small business owner is filing their annual business income tax. Although, it can be an overwhelming endeavor for some, especially worries surrounding filing mistakes and overdue deadlines. Therefore, necessary preparations should be done all year-round
Common Bookkeeping Mistakes You Should Avoid
Bookkeeping is the systematic process of recording and organizing source documents for all business operations and financial transactions, such as purchases, sales, payments, and receipts. It is a vital process that makes it easier for businesses to budget accurately, prepare for
In-House vs. Outsourced Bookkeeping & Accounting Services: What’s Right for Your Business? – Infographics
Whether your business is a start-up, a small company, or a medium-sized one, you need the right bookkeeping and accounting team to manage your finances. Proper financial management is crucial for any business as it keeps the company stable and ensures