For years we've been led to believe that billing and collecting is just a normal part of doing business. We've also been told that receivables count as assets, that they represent the money customers owe you in exchange for products or... Continue
Having accounts payable means you owe money to someone. There's nothing wrong with that. But what is wrong is not handling your accounts payable in a manner that maximizes your cash flow. Improving supplier relationships, implementing... Continue
It's not news that this has been a crazy year. Many small businesses have been negatively impacted by the pandemic. And yet, there are a number of businesses that have continued to operate profitably, some that have even thrived. Millions... Continue
Your small business's assets are a key indicator of its value to both you and investors. Not sure where your small business stands? Break out your balance... Continue
Look at any small business's financial statements and you'll find that it includes a balance sheet. A balance sheet is the place where you lay out your assets and liabilities in one document and see a snapshot of your small business's... Continue
If you're a Costco customer, you can return most items you've purchased, so long as it's within a 90-day period. It's a generous policy. But sometimes it backfires. For example, some of their customers have been known to test the company's... Continue
When analyzing your small business's performance, the accounts receivable turnover ratio is an important metric to know. This ratio evaluates how effectively you are collecting your receivables when customers buy on credit. Specifically,... Continue
The discount travel service CheapAir.com recently took a look at more than 917 million — yes, that's 917,000,000 — transactions in its database with the aim of figuring out the best time to buy inexpensive airline tickets. If you or... Continue
You know your small business like the back of your hand. You've dedicated hours to its layout and organization, but do you feel the same about your balance sheet?
A recent survey found that 40% of small business owners spent at least 80... Continue
