Small business accounting: balance sheet decoded

Balancing act

Small business accounting balance sheet The balance sheet provides a snapshot of your company’s financial position on a given date. It lists the assets (what a company owns), the liabilities (what it owes) and the owners’ equity in the business. The balance sheet is based on the basic accounting equation: Assets = Liabilities + Owners’ equity. The left side (assets) is the value of everything the business owns.   The right side (liabilities + owners’ equity) represents how the business paid … [Read more...]

Three steps to getting paid on time

get paid on time

Small business getting paid on time on your accounts receivable What’s more important than closing a big sale? Getting paid! Sometimes this is harder than winning the deal. Small businesses lose over $15 billion a year to unpaid sales. Here’s how to avoid adding to those losses. Do your research before you make an offer Before closing a sale, determine how willing and able the client is to pay you on time. Structure your payments accordingly; the riskier the client the more you need to … [Read more...]

Los bancos que más dinero regalan cuando abres una cuenta

Bank

Promociones Bancarias Después de la recesión y crisis financiera del 2008, muchos bancos quedaron en la quiebra o con márgenes de utilidades muy limitados. Por esta razón, hoy existe una competencia muy agresiva entre las distintas instituciones financieras por captar nuevos clientes. Esto sin dudas beneficia al consumidor ya que se traduce en mejores ofertas, tasas, servicios gratuitos e incluso dinero gratis por abrir nuevas cuentas. Si estás pensando en abrir una nueva cuenta es muy útil … [Read more...]

Unclaimed Property? Obscure Law Could Expose Your Business to an Audit

Calculator Finance Accounting

Don't miss these upcoming deadlines for filing unclaimed property reports. 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. Escheat laws require you to report that money … [Read more...]

Over 100 Billion Dollars Disappears from U.S. Banks in One Week

Cash on fire

Over 100 Billion Dollars Disappears from U.S. Banks in One Week from U.S. Banks in One Week from banks during the first week of January. Why? Where did it go? The 25 largest banks in the country had a rather exciting first week of January. According to data released by the Federal Reserve, depositors withdrew an astounding $114.1 billion during the week ending January 9. A significant portion of this withdrawal can be attributed to the expiration of the Transaction Account Guarantee (TAG) … [Read more...]