Asset or Liability? The Role of Accounts Receivable
Accounts Receivable (AR) is a crucial aspect for businesses that offer goods or services on credit. In this blog post, we will explore the role of AR in a business, its impact on financial performance, and some best practices for managing it. By understanding the nuances of AR management, businesses can improve their cash flow, […]
Balance Sheet vs. Income Statement Explained
Understanding financial statements is essential for any business owner or investor. Financial statements provide an overview of a company’s financial health. The primary financial statements include the balance sheet and income statement. The balance sheet is a snapshot of a company’s financial position, indicating assets, liabilities, and equity at a specific point in time. Meanwhile, […]
Discover the Basics of Bookkeeping: Everything You Need to Know
Bookkeeping is essential for any business or individual who manages their finances. It involves tracking and recording financial transactions, such as purchases, sales, receipts, payments, and expenses. Bookkeeping is important because it helps companies to accurately monitor the income and expenditure of their business, as well as providing a source of evidence for tax returns […]
Tips for Effective Accounts Receivable Management
Accounts receivable management tracks unpaid invoices and client payments to help businesses analyze the organization’s financial health and cash flow. Good accounts receivable management is essential for businesses of all sizes. An efficient and effective system to manage money flow into your business can save you from costly debt accumulation, increased headaches, and wasted time. […]
The Ultimate Guide to Mastering Accounts Receivable in 2023: Tips and Tricks
It’s 2023, and while much of the world has changed, what hasn’t is the power of proper accounting – particularly accounts receivable. But what type of account is accounts receivable, and what strategies can we use to master it? Consider it as what customers owe you in exchange for goods and services. With proper management, […]
Unlocking Financial Stability: A Comprehensive Guide to Achieving a Good Accounts Receivable Ratio
As a business owner, managing your finances is one of the most important things you can do to ensure your company’s success. One essential aspect of this is knowing how effectively you’re collecting on the money you’re owed. That’s where the accounts receivable (AR) ratio comes in. Simply put, this ratio measures how well you’re […]
The Ultimate Guide to Finding Reliable Sources for Account Receivables Information
There’s no denying that account receivables form an integral part of any business’s finances. Tracking and monitoring them on a regular basis is crucial for maintaining a healthy cash flow and preventing financial losses. However, when it comes to finding reliable sources of information for account receivables, things can get a bit tricky. There are […]
The Vital Importance of Accounts Receivable for Small Businesses in Seattle
Accounts Receivable is an important concept for small businesses that seek to track and manage their cash flow. It refers to the balances a business owes for goods or services that have sold something but have yet to pay for. Regarding Seattle small businesses in particular, Accounts Receivable can be even more crucial due to […]
How To Have An Effective Cash Flow Management In Seattle’s Competitive Market
Effective and efficient cash flow management is crucial for entrepreneurs looking to compete in Seattle’s thriving market. Cash flow is the lifeblood of small businesses, after all – it allows them to purchase supplies, pay workers, rent space, and more. An effective cash flow management strategy prevents cash shortages and will enable businesses to stay […]
5 Financial Tips For Small Business Owners In Seattle
As a small business owner, staying on top of your finances is important. Not only does financial management help ensure that day-to-day operations run smoothly and expenses are understood, but it can also make a big difference when securing additional funding. That is why having the right system in place for financial management is essential; […]
Controller vs CFO: 4 Key Differences
The role of financial professionals in a business is essential to the success of its operations. Controllers and Chief Financial Officers (CFOs) are two critical positions within the financial department that can sometimes be confused with one another. So what is the difference between a controller and a CFO? In this blog post, we will […]
How To Do Bookkeeping For Small Business
Bookkeeping lets you know how your small business is doing but not all business owners understand the importance of strong bookkeeping. If you’re looking for how to do bookkeeping for small businesses in a few easy steps, continue reading. What is bookkeeping? In its most basic sense, it’s the process of documenting and organizing all […]
