Whether you’re well versed in doing self assessment or you’re totally new to the experience, many businesses and self-employed people still find it a daunting time. Without professional assistance, even the most observant person can make errors that could well cost hard earned money. There’s little worse than thinking you’ve got everything right then discovering [...]

Accounts Payable (A/P) is one of the more vulnerable areas to fraud in almost any organization. All cash leaving an organization flows through A/P, so it is important to ensure that payments are properly approved, are made to legitimate suppliers and are for the correct amount. The key to reducing the risk of A/P fraud [...]

In The Beginning In their infancy, credit cards relied solely on manual imprint machines and the manual labor of a sales staff. A sales clerk placed the credit card on the machine’s platform with a sales receipt placed on top that contained a carbon paper insert. Manually sliding the roller over the surface imprinted the [...]

If you are a business owner or self-employed, you probably are aware that you have to pay tax. While no one enjoys paying tax, it is a legal requirement that cannot be wished away. Whether you are a business owner or self-employed, you are obliged to pay federal, state and local taxes. Apart from these, [...]

Time is money in business, and small businesses may need essentially more of both. Accounting is a necessary requirement for any size business, However, if it is improperly managed, it can easily spell disaster for your business. There are certain processes, that when put together, can correctly become the foundation on which you can build [...]

On the application you can enter or access all of your customer’s information. From that screen you can see what their outstanding balance is, if they have one. When you click on the customer’s name, it gives you the capability of inputting all of their billing info, shipping address, email, phone number and tax item, [...]

Preparing and balancing figures is definitely not for all people. It’s a job that needs total knowledge of the subject, and should be made with no mistakes unless you want trouble with the several departments or firms. A large number of firms offer accountancy services to help business and freelancers with their finances. It’s a [...]

After I have called our top 3 clients which owe us the biggest amount of money, I will continue with my other treasury function such as rollover of revolving credit facilities, preparing bank guarantee for local project or counter guarantee for overseas project. Sometimes our overseas office needs us to pump them some fund. This [...]

As businesses grow and expand, the business owner needs to know further details about the sources of revenue, costs and profit. Many people believe the 80/20 rule can apply. For instance, 80% of their profit is coming from 20% of their products or services. That may be correct but there is a more definitive method [...]

After you have resolved to outsource your accounting for your home business, you need to select a bookkeeper. In picking a bookkeeper, there are several important elements to think about. Needless to say, it is important to go with a bookkeeping service that can offer the best level of assistance together with value for your [...]