If your time and expenses are your main source of revenue, you don't want to take chances with your livelihood. Use this simple list of dos and don'ts to help maximize your efficiency and avoid tracking and accounting problems.
From the AllBusiness.com Finance & Accounting Center
If your time and expenses are your main source of revenue, you don't want to take chances with your livelihood. Use this simple list of dos and don'ts to help maximize your efficiency and avoid tracking and accounting problems.
Do:
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Know what the term means. It’s a way to turn your accounts receivable into cash by selling them to a finance company called a factor.
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Make sure you understand the fees you will pay for this service. They typically include the cost of funds and making the collections.
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Balance the cost against the gain. Factoring can be expensive but it may fuel your growth, improve cash flow, or enable you to take advantage of supplier discounts.
With over ¾ of the American population using some form of plastic for regular purchases, businesses–especially online retailers–can’t afford not accept credit cards as a form of payment.
By Resource Nation
It would be wonderful if everyone simply paid their invoices immediately. However, in business, you need to diligently collect and follow up on accounts. Here are some of the common mistakes that can slow down and hinder the process.
From the AllBusiness.com Finance & Accounting Center
It would be wonderful if everyone simply paid their invoices immediately. However, in business, you need to diligently collect and follow up on accounts. Below are some of the common mistakes that can slow down and hinder the process.
5 Tips for Finding and Keeping a Bank
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Understand the basics. Large or small, banks are interested in the same fundamentals—such as cash flow, collateral and the viability of your business.
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Sell the bank on your company. Provide solid information on its financial history, your business plan, and information about the kinds of loans you need and the terms you want.
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Look for a good fit. Let prospects know what kind of a relationship you want with a bank.
In addition to general data management issues, there are other financial records whose management you need to systematize.
By Terri Lonier
In addition to general data management issues, there are other financial records whose management you need to systematize. These will improve the security and stability of your business as well as help you meet the requirements of the IRS. You’ll have others specific to your business and the market you serve, but here are some general guidelines:
Taking the time to choose the right business cash advance provider can be tough–especially if your business needs cash immediately. Don’t make the mistake of rushing into a cash advance transaction with the first company you’re approved by–shopping around can give you bargaining power and allow you to compare rates, fees and terms.
By Resource Nation
Taking the time to choose the right business cash advance provider can be tough–especially if your business needs cash immediately. Don’t make the mistake of rushing into a cash advance transaction with the first company you’re approved by–shopping around can give you bargaining power and allow you to compare rates, fees and terms.
For many small businesses, the most common bookkeeping errors are also the easiest to fix. Use these six tips to help keep your business on sound financial footing.
From the AllBusiness.com Finance & Accounting Center
Basic Bookkeeping Tips
For many small businesses, the most common bookkeeping errors are also the easiest to fix. Use these six tips to help keep your business on sound financial footing.
During the current recession, many businesses could use a little more cash…and fast. Here are five quick & practical ways to get the cash you need in a tight credit market.
During the current recession, many businesses could use a little more cash…and fast. Here are five quick & practical ways to get the cash you need in a tight credit market.
Profit with sales this year. Explore new markets, new prospects and new products and pitches. This year, the three Ps of marketing your business are: prospects, products and pitches. All three may need to change a bit to get you to a profitable year.
By Jerry Glenn, SCORE Business Mentor
Profit with sales this year. Explore new markets, new prospects and new products and pitches. This year, the three Ps of marketing your business are: prospects, products and pitches. All three may need to change a bit to get you to a profitable year.
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