One of the biggest challenges of small business owners and business start ups is controlling overhead. Though it's crucial to invest in good resources (you have to spend money to earn money, as they say) it's still important to spend wisely—especially in this tough economy. And small businesses and business start-ups have to be particularly vigilant. Due to smaller margins or … [Read more...] about How to control your small business’ overhead expenses
small business accounting
How to Create an Effective Profit and Loss Statement
Profit and loss statements are an important business document because it categorically shows if a business is on a downturn -- allowing you to take immediate steps before the losses become painfully huge. It can also help you assess a business opportunity and monitor expenses and possible percentage of revenue. Here is a basic guide on how to create an effective profit and … [Read more...] about How to Create an Effective Profit and Loss Statement
How to Track and Avoid Bookkeeping Errors
Big businesses have the advantage of having a professional accountant whose sole job is to watch the numbers. Small home business owners, or even self-employed consultants or freelancers, have to do bookkeeping themselves--on top of everything else the business demands. With this set-up it's quite possible for you to make bookkeeping errors. Mistakes happen, but when those … [Read more...] about How to Track and Avoid Bookkeeping Errors