Fretting over finances and being a business owner go hand in hand. You are probably always asking yourself: what’s our bottom line or how much is our overhead? But the real question you should be concerned about is: how healthy is our cash flow? The founder of Dell, Michael Dell, once said, “We were always […]
Invoicing
5 Ways to Create a Professional Invoice Template
It is important for small business owners to have a developed invoice system and know how to make an invoice. An invoice is just a form that represents who you are as a business. An invoice is your image, your brand—your customers and clients will view it countless times. Creating an invoice is pretty easy […]
How to Handle Outstanding Invoices
If you own a business, it’s likely you’ve encountered a customer or client who’s late in making a payment for goods or services you provided. Late payments can sometimes drag on for months or even years. Clearly, you don’t make money if you don’t get paid. So, it’s important that you follow up. But what’s […]
5 Essential Steps to Prepare Your Company’s Finances for the Holidays
With the holidays right around the corner, initial visions of sugar plums dancing in your head have likely made way for long shopping lists and travel plans, and I bet your wallet’s already feeling it. Trees, decorations, presents, food, parties—it can all add up. But what about your small business’s finances? In the midst of […]
How to Deal with Late-Paying Clients
No matter what industry your business is in, you’re bound to come across a client who’s thrilled with your work, but never pays an invoice on time. Not only does a late payment put strain on your business, it creates friction between you and your customers. You want your customers to have a pleasant experience and don’t […]
10 Types of Paperwork You’ll Need to Create for Your Business
Nobody likes to think about the paperwork and documentation necessary to run a business, but your company won’t get far without these practical necessities. Thankfully, for most types of paperwork, this is a one-time process; once you have a core template in place, it will only take a few minor modifications to make it work […]
5 Steps to Better Invoicing and a Smart Payment Process
To make payroll, you need money in the bank… Which makes effective invoicing is a must. Let me ask you this: Do your customers pay you in a timely fashion? If not, cash flow can become critical, making it impossible to grow your business. That’s why, for your business to succeed, you need a sound […]
What’s the Most Important Part of Cash Flow? Invoice Terms
Owning your own business provides a rewarding experience. As your own boss, you can set your hours and your priorities. You are also free to pursue the work that you find rewarding and fulfilling. But no matter how much you love what you do, collecting your pay remains a necessity. After all, if you don’t […]
5 Useful Accounting Tips for Small Businesses
Unless an individual is an accountant or really enjoys working with numbers, then accounting is not a favorite task. Nonetheless, adopting certain good habits in the early stages of your small business can assist in averting major ones later on. After completing incorporation of your new small business, it is essential to have processes and […]
Have Uneven Cash Flow? 5 Ways to Smooth It Out
Small businesses, freelancers and “solopreneurs” alike know all too well that steady, predictable cash flow is a peace of mind that is not always guaranteed. Luckily, there are some things you can be doing to mitigate those dips and help make your financials get into a more reliable state, month after month. Update Billing Cycles […]
