Benefits of Bank Reconciliation

Benefits of Bank Reconciliation

Making bookkeeping mistakes can lead to misleading financial figures, bouncing checks, and collecting from customers that already paid. These errors can lead to problems with your cash flow because you have yet to update and reconcile your accounting books. Regular...
Ways to Manage Petty Cash Effectively

Ways to Manage Petty Cash Effectively

Your small business’ petty cash fund allows you to pay for small operational expenses you’ll incur. Companies use this to pay for travel expenses, immediate utilities payments, postage, and other similar costs. Misuse of this fund will keep your small business short...
Is Your Small Business Idea Feasible?

Is Your Small Business Idea Feasible?

Are you planning to launch a new small business? If yes, you need to determine the feasibility of your small business idea. It’s ok to be courageous and go all-in when you plan to launch a product or service. However, this approach may lead you to spend more money...
Methods that Determine Product Profitability

Methods that Determine Product Profitability

Small businesses can use practices that their bigger counterparts implement. One of which is product profitability analysis. This method provides you with insights about the profit a product can generate for your growing company. This data-driven strategy can provide...
Ways to Sustain Profitability during a Crisis

Ways to Sustain Profitability during a Crisis

The pandemic caught everyone off guard. It has closed businesses and has led to the re-assessment of business models. However, some small businesses have managed to stay afloat or re-opened once more information about Covid has spread and more people are vaccinated. A...