For businesses, the decision about whether or not to take out a commercial loan can be a complicated one. It increases the debt that your business holds, but there's also an opportunity cost associated with not expanding—if a commercial loan allows your business to bring in significantly more revenue, you'd miss out by not taking it. The process of applying for commercial loans can be complicated as well. There's a substantial amount of financial paperwork involved, as lenders want to make sure that your business can eventually pay back the loan.
17 October 2019
As a small business owner, understanding how to prioritize your bookkeeping is important. It can be difficult to do, especially when bookkeeping is not your strong suit. One of the best ways to keep up with the bookkeeping for your small business is to make the financial management steps a part of your normal routine. Here are some tips to help you organize your business's bookkeeping and gain better control over your company's books as well as your own time.
28 August 2019
As a business owner or sole proprietor, there are a number of new concepts that you need to learn about. One of these is the term "basis". What is basis, and how can it help you with your taxes? Here are a few answers. What is Basis? Basis is simply the cost you pay for an asset minus the depreciation taken over its useful life. To find the basis in an asset, you start with what is known as the "
30 May 2019
It is no easy feat to run a small business, especially when you are just starting out. As a new entrepreneur, accounting-related tasks are some of the most complicated tasks that you will encounter, particularly when you consider the simple fact that mistakes will cost you a lot of time and money. Below you will learn about three of the most common errors that are made related to small business accounting and how you can avoid them.
6 January 2019
