The hunt for a technical co-founder is often the number 1 priority of startup owners. On number two comes the need to establish a solid business runway. Can you guess what comes next? Accounting. Accounting for startups is a must-do for business owners who want to move up the business ladder of success. Failure to…
Business success depends largely upon how you tackle problems, complaints, and returns. No business is perfect, and sometimes, we all make mistakes; products get damaged, delayed, and returned. At such times, it is pivotal for a business owner to make amends and compensate the clients for the trouble caused. That is where credit memorandums come…
More than a quarter of small businesses fail due to cash flow problems. Calculating the cash flow may appear unimportant to some, yet it’s a task of high importance. To move forward without a hitch and keep your business financially stable, you need to master how to calculate cash flow. Luckily, it is not too…
In today’s business world, staying at par with the present isn’t enough to ensure stability and keep the business afloat. Forecast and foresight are essential to guarantee success and tackle uncertain times. Nowadays, it is often required to peek into the future to perfect the present, and that’s what predictive accounting enables businesses to do….
If you’re a business owner but don’t have a substantial finance or accounting background, terminologies like liabilities, asset, and equity might confuse you. However, while managing your books and accounts, it is essential to understand these concepts and all that they entail. Before getting into the assets vs equity discussion, you must understand what liabilities…
Many fintech service providers are developing and licensing off-the-shelf accounting and financial management systems to startups, thus seeking high-scale growth. They can now tap into a larger pool of customers by rapidly expanding their offerings and building a strong brand image. Even tech giants like Google and Apple seek to gain a bigger foothold in…
Listening to an accountant speak can often leave you confused, because of various accounting abbreviations and acronyms that they tend to use. Accountants have a second language that is foreign to those who are not privy to the field. But as accounting and finance are an important part of the world we live in, it…
If you are a small business owner who intends to switch from cash to credit method of selling, be prepared to deal with concerns like “what’s the credit sales amount you need to receive? From whom? And when?” So, what is Accounts Receivable (AR), what involves the accounts receivable process and how does it impact…
Most startup and small business owners tend to focus most of their time and efforts on understanding assets and liabilities while not considering “equity” as an equally critical aspect of running a business. This guide will offer you an in-depth explanation of what “owner’s equity” is, its importance in the business world, and how it…
The bottom line on a company’s income statement is often the best way to gauge its financial health and foresee a profitable future – if any. The net income indicates whether your company is on track, and heading towards better prospects and long-term viability. To know whether your business is making a profit or incurring…
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