Why Businesses Should Adopt Cloud Software
For a long time, common business responsibilities like bookkeeping, payroll, paying bills, and generating invoices, centered around the desktop computer. It held the business’s back-office software and data, so business owners would spend a lot of time working on it. But we live in the internet age now and desktop software has become much less […]
How to Manage Your Restaurant’s Inventory
If you own a successful restaurant, there’s a good chance you’re almost always in a state of urgency. You probably wake up each morning with the goal of having a busy yet problem-free service that day. However, restaurant owners can’t simply take it one day at a time. It’s important to save some time to […]
How to Write a Business Plan
When you pitch a business concept to a potential investor, lender, or partner, they’ll almost always ask to see your business plan. They make this request because they want to see that your idea is more than just an idea. If you want to be taken seriously, you need to put thought into what it […]
When and Why You Should Hire a Bookkeeper
Most people start their own business because they want to do something they have a passion for, be their own boss, and make a lot of money. Those are great aspirations to have but it’s also important to keep in mind that every business has a number of administrative responsibilities that aren’t as glamorous. One […]
How to Manage and Account For Tips in Your Restaurant
Many people who work in the restaurant industry make a large portion of their income from tips. In casual restaurants, servers and bartenders are often tipped directly by the customers they serve, in the form of cash or as additional payment on the credit or debit card charge. These employees may then give a portion […]
4 Ways to Grow Your Business You Might Not Have Considered
It’s a big milestone when your business starts to turn a profit. But once you’re done celebrating, you’ll need to decide what to do with the extra money. You can take the funds out of the business and use it for personal means but that generally isn’t a recommended way to pay yourself. Instead you […]
How Gyms Can Get the Most Out of the Spring Rush
After a long winter across most the country, spring weather is a welcomed sight. But it’s really the summer months most of us are looking forward to. As winter melts away and summer approaches, many people realize it’s time to get back in shape. If you own and operate a gym, there’s a good chance […]
The Differences Between Cash and Accrual Accounting
When you start to keep financial records for your business, you’ll need to decide what method of accounting to use. There are two choices – the cash method (also known as cash basis accounting) and the accrual method (accrual basis accounting). The IRS requires certain businesses to use the accrual method, including ones with $5 […]
5 Rules for Managing Cashflow
Far too many business owners make financial decisions based on their bank account balance. But that figure is constantly in flux. It only represents the funds you have at that moment but not the funds that will soon enter and exit your bank account as you pay your expenses and revenue is received. Instead you […]
7 Tips for the On-the-Go Business Owner
Not long ago, most business owners needed a dedicated space to work from. But these days, it’s easier than ever to get things done over the internet. While traditional offices are still common, many business owners are choosing to work while on the go instead. Equipped with a laptop, mobile phone, and a tablet, you […]