You possess the expertise and the know-how needed to meet your clients’ requirement. You also put in the work needed to ensure timelines are met. Thus, your clients seem satisfied, unless something happens to upset this balance. However, what about your business’ growth in the meantime? You may not be able to give it a

Most small businesses follow a budget. This budget decides business investments, purchases, hiring of resources, expenses on infrastructure, etc. However, if you are a business owner yourself, you know that it is some of the basic and back-end functions that often need the most investment. Bookkeeping and accounting are two such essential functions that need

With half of the year gone past, we are now in a position to assess whether the goals set in the beginning of the year have been realized or not. Further, now is also a good time to review what needs to be done for areas that have not seen growth as envisioned and could

How strong a company’s finances are can be gauged from the balance sheet, which in turn is assessed on the strength of the company’s working capital, from among several other factors. Even then, it is among the concepts that can be difficult to define for a small business or a startup. This is because working

Your business’ budget can be divided into two: cash and operating budget. Your business’ cash budget will focus on expenses and revenue estimates. A cash budget usually has entries for cash transactions that took place, such as salary payments and vendor invoices. An operating budget is similar to the cash budget, only that it covers

By definition, Accounts Payable is the money that a business needs to pay to its suppliers or vendors. In accounting terms, Accounts Payable is a liability or a debt and is noted as such on the balance sheet. Each time a vendor or a supplier provides you with an invoice that has to be paid,

Managing growth is often top of mind with business owners. Healthy business growth is crucial to the company’s long term sustainability. However, often times small to mid-sized business owners reach a plateau in their ability to drive new business due to both manpower and financial resources.  The challenge for businesses in this lifecycle stage becomes

Simply put: Your company’s cash flow decides whether or not your business will continue and whether it will grow. For example, if your business creditors need money within 10 days while your invoice payment date is 20 days later, you will soon run out of money. Unless you optimize your cash flow to align the

With 2017 well on its way, this is a good time to take a quick look at your business’ accounting and cash flow management to see if there is anything that needs to be reviewed or changed. As one of the major markers of your company’s financial health, your cash flow statement is a good

According to an online report by “451 Research”, 60% of workloads will operate in the cloud by 2018. (Cloud Computing Trends for Accounting) The accounting profession has evolved to embrace new technology; this includes practicing professionals who have also adapted to working in the cloud. However, as businesses move towards working more consistently in the