This time last year, WePay reported that nearly half of business owners have been experiencing cash flow problems. While the state of the economy can bear some of the blame, the importance of cash flow is something that many business owners greatly underestimate. So what exactly is cash flow and why is it so important? A...
In the world of accounting, ratios give and invaluable amount of information about your company and it’s fiscal well being. Accountants use financial ratio analysis on a regular basis. These analyses help to evaluate the financial performance by comparing financial ratios of a business over various periods of time to other businesses in the...
It may not seem like it, but financial statements preparation takes a lot of work and is very important to the success of your business. Partners, investors, auditors, accountants, and managers all look to financial statements to give them a sign of the financial health of the company. There are four basic financial statements...
Business owners really know how to provide quality products and services. But when it comes to simple accounting basics that can make an impact on the success of their business, some business owners are left in the dust. Being a business owner isn’t for everyone, in fact, most businesses don’t make it through their...
The way companies handle their bookkeeping has changed dramatically in the past 10 years. Gone are the days on manual invoices and purchase orders. People are no longer using a rolodex to keep track of their customers, and they aren’t using spread sheets to monitor inventory… well, at least not companies who are focused...
Accountants, being used to the concept of audited trust accounts, may be surprised to learn that debt collection agencies don’t actually use them. Many of them have an account which they call a trust account and label as such on the cheque book but that’s just little fiction that they share with the bank....