Keys to Successful Cash Flow – Managing Receivables
A steady flow of revenue is critical to keeping your business afloat. You may have customers placing orders, but if they aren’t paying on time this can wreak havoc on your cash flow. Receivables are the bills that are sent out to your debtors (customers). The payment received from these bills is the life and [...]
Keys to Successful Cash Flow – Managing Payables
Last time we tackled managing accounts receivable, and managing your payables is just the opposite. Instead of collecting at the earliest possible moment, you should never pay a day sooner than you have to, unless you get a discount for doing so. A lot of people believe in staying ahead of bills and paying them [...]
Keys to Successful Cash Flow – Budgeting
Cash flow is said to be the lifeblood of any business. The first key to successful cash flow is budgeting. Budgeting is an important and necessary part of small business ownership. To begin with, lenders and investors are going to require a budget before they agree to partner with your company. More importantly, a budget [...]
Hidden 1099 Tax Change
If you are a business owner, prepare to spend a lot more time collecting data, keeping records, and generating/sending paperwork. And if you have previously provided goods and failed to report income, know that that will change starting in 2012. Currently, businesses must send 1099s to all individuals who provide more than $600 worth of [...]
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