If you’re a small business owner or entrepreneur, you’ve probably heard of GAAP, the Generally Accepted Accounting Principles. This set of accounting principles provides standard rules and methods for businesses to collect and report financial information. In...
Small businesses often begin as passion projects. You start doing something you love and then discover a market for your products or services. You may begin selling those products or services, recognize that you need to purchase more supplies, and hire a part-time...
When it comes to a bookkeeper vs full charge bookkeeper, who is the better for your business? Company owners everywhere deal with countless struggles involving their business, from the various employees they hire and deal with to the tracking and managing of their...
To grow one’s business, one must understand the importance of innovation. In order to innovate, it’s critical to devote the proper time and resources to doing the job right. Lee Spinale Rea opened her Edible Arrangements franchise location in Hanover, Mass., in...
When you own and run several franchises, you may find bookkeeping to be the stressful part of your job since each of your franchises has to keep up with their own records. You could hire an HR person for each of your stores but that could get expensive. There are...
In an era of increasing corporate scandals, financial frauds, and complex business transactions, ensuring the integrity and transparency of financial records has become paramount for organizations worldwide. To combat these threats and safeguard their financial...
During the average work day in the United States, a new franchise business opens its doors every eight minutes, according to an infographic unveiled earlier this year by mycorporation.com. That’s about 300 franchise openings each week across the country, many of them...
When the financial crisis hit the United States in the late 2000s, Alabama was struck particularly hard. In fact, the state had the third-highest prevalence of economic loss during the peak of the crisis, according to an Economic Security Index report produced by The...
[vc_row][vc_column][vc_column_text]“Doing the books” is not something that comes naturally to most small business owners. However, it is one of those critical tasks that can make or break your business in the long run. If you don’t already have a robust system in...
Traditionally, accounting wasn’t something businesses would outsource – in many manufacturing companies, it still isn’t. However, in the current digital sphere, especially one that focuses heavily on services, there are various ways a business can outsource its...
Managing your business's finances is essential for establishing and maintaining success. However, increasing revenue is not the only goal; effective expense management is also critical. Our guide will reveal eight practical tips that small businesses can embrace to...
When starting a small business, the primary goal is to keep the business afloat while making ROI and some profit. To keep your business afloat, you need a team of people with specialized knowledge of accounting, tax, and prepping. Understanding your finances and...
