Archives

Small business

As small businesses grow, managing cash becomes far more complex. You have to: forecast cash needs and cash receipts, establish processes for tracking payments and dealing with late payers, produce financial statements, establish budgets, invest unused cash and much more. If you expect to keep growing your business, you can’t spend all of your time managing your money.

Continue reading

Small business

Small-business compliance with unclaimed property laws, known as escheat laws, isn’t usually at the top of the list of most owners’ concerns. But failing to address unclaimed property can lead to audits, interest and penalties. When a customer leaves a deposit and never returns, or you issue a refund to clients via check that they never cash, you can’t just keep the money.

Continue reading

Small business

When it comes to storing old financial documents, I’ll admit that I do have a hoarding problem. Despite knowing better, I’m hesitant to eliminate even old receipts in case one day I’m subject to an audit and the only thing keeping the IRS from confiscating my business is an $8 gas receipt from 1993

Continue reading

As the economy continues its precarious path forward, consumers and business customers maintain a price-conscious attitude.  Many large companies have made the decision to use price reductions, sales and rebates to increase (or maintain) unit sales.  This tends to cause a great deal of grief to small business owners who are forced to decide how to respond.

Click here to read the full article.

Archives