Three Simple Ways to Optimize Your Cash Flow

Three Simple Ways to Optimize Your Cash Flow

It’s hard to believe that 82 percent of businesses that shut their doors cite a poor understanding of management of cash flow as the primary reason. Cash flow is an umbrella term that covers a lot of different parts of your business. Ultimately it’s about balancing income with expenditures.

Read More

Ensuring Financial Success for Your Business with Cost Accounting

Ensuring Financial Success for Your Business with Cost Accounting

Setting up a cost accounting system can help you better understand the ins and outs of your business. While financial accounting is focused on reporting financial statements to outside parties, cost accounting is inwardly focused and involves the preparation of reports management needs to run a business.

Read More

Cash Flow Management: The Secret to Success

Cash Flow Management: The Secret to Success

Monitoring and managing your cash flow is important for the vitality of your business. The first signs of financial woe appear in your cash flow statement. Recognizing which aspects of your business have the potential to cause cash flow gaps can help you head off unpleasant financial situations.

Read More

Small Business Owners Have Decisions to Make in Light of New Overtime Regulations

Small Business Owners Have Decisions to Make in Light of New Overtime Regulations

On May 18, the Department of Labor released its final rule doubling the minimum salary needed to qualify for overtime exemption from $23,660 to $47,467. The new regulations take effect December 1, 2016. Small business owners need to have a plan in place to address those employees that will become eligible for overtime come December 1.

Read More

Point-of-Sale Security: Guidelines to Keep Your System Safe

Point-of-Sale Security: Guidelines to Keep Your System Safe

A security breach can happen to the best of us; in fact, it has. Hackers have successfully broken into POS systems for stores like Subway, Target and Neiman Marcus. As a respected small business owner, you can't afford to lose the trust of your customers. Put security systems in place to protect your customers' valuable information and your business' reputation.

Read More

The 6 Most Important Accounting Regulations for Small Businesses

The 6 Most Important Accounting Regulations for Small Businesses

There are hundreds of accounting regulations to consider, and it's important that your business stay on top of these regulations to avoid costly fines and other penalties. Here are some of the most important accounting regulations to consider as a small business owner.

Read More

W-2 or 1099? The Difference Could Make a Big Difference

W-2 or 1099? The Difference Could Make a Big Difference

If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees. The IRS and Department of Labor are very strict about what a contractor is and isn’t. Businesses that incorrectly classify employees as contractors can face steep fines and penalties.

Read More