As a small business owner, you must wear multiple hats daily, especially when first getting started. If accounting is one of those hats, and even if not, you should become familiar with the seven basic concepts below. Accounting refers to the measurement, recording, and communication of all financial aspects within a business. Financial accounting will…
If you are an entrepreneur, you probably wear many hats within your business. However, financial accounting is an essential skill set that will ensure the success of your organization. The primary skills needed in accounting for entrepreneurs are financial projecting, accounts payable and receivable, bookkeeping, cash-flow management, fiscal and expense reporting, tax filing, payroll,…
Small businesses are the backbone of the American economy. They create two out of every three new jobs in the country and account for more than half of all private-sector jobs. But as any small business owner will tell you, keeping your business afloat is a constant challenge. One vital way to stay on top…
Anybody who has ever run a small business can tell you that it’s a constant juggling act. You have to wear several hats every day to keep moving forward, including handling the financial side. Some people can pick up a few small business accounting books and puzzle things out in no time. Others know when…
For most people, the thought of starting a business is intimidating. The challenges are many and varied—from developing the idea to picking an appropriate location for your startup’s office space. Even though there are plenty of resources available for new entrepreneurs (online courses, mentorships, books), it can still be challenging to know where to get…
Starting A Business? The Accounting Basics You Need To Know While accounting is not a topic many business owners prefer, it leaves you no choice when starting a business but to know the accounting basics. It’s vital for your business’ success. In any case, we start businesses to make profits, or at the minimum, operate…
Small businesses and ambitious entrepreneurs are the heart and soul of most industries in the United States. By 2016, there were over 25 million Americans who were starting or already running their businesses. As a small business owner, business accounting is a critical determinant for success. Here are five ways learning accounting and bookkeeping can…
With almost 582 million entrepreneurs worldwide, there is almost an infinite amount of ways to do bookkeeping. Thankfully we have broken down 5 bookkeeping basics for entrepreneurs, so that you can find the best way to manage your business’s finances. Decide on a Method There are a couple of standard methods of bookkeeping,…
In recent years, there has been an emergence of digital technologies to solve complex accounting problems. The solutions seek to address various aspects such as production output, cost of doing business, and return on investment. They are also helping entrepreneurs manage their businesses more efficiently. This article looks at some of the technological solutions that…
Worldwide, there are approximately 582 million entrepreneurs: people just like you who are using their wits, confidence, and enterprising spirits to start their own business. But becoming a business owner does not just require the will to do so. It requires the knowledge and expertise to keep it afloat and keep it successful. If you…