Let’s start at the beginning: What is bookkeeping? Simply put, bookkeeping is the process of recording, storing, and organizing a business’s financial transactions. Why exactly is bookkeeping crucial anyway? Let’s discuss the importance of bookkeeping for small businesses. Bookkeeping Helps With Budgeting First and foremost, bookkeeping is important because it helps you with budgeting. It […]
Nothing worth having comes easy, especially when it’s something as big as implementing a global payroll system for the first time in your company. You’re going to encounter a few challenges along the way. Some of these challenges will be specific to your circumstances, while some will be the same that every multinational faces in […]
The key to becoming a successful entrepreneur is smart thinking and allocation of resources. Before making any decision, entrepreneurs weigh the pros and cons and draft feasibility reports to see if the decision will benefit the business in the long run. Since new entrepreneurs don’t have too many funds to invest, they seek solutions that […]
Every entrepreneur dreams of building a successful business. Luckily, we live in the sharing era, where everything necessary to pursue this dream of ours is accessible to us. We have business gurus sharing their experiences and tips on how to survive when circumstances are against us. We have unicorns sharing growth-hacking ideas on how to […]
Accounting can often be an unfamiliar domain for startups. New entrepreneurs usually do not have any idea of what accounting entails and can look lost whenever they have to plan their accounting functions. Some entrepreneurs even prefer to stick to the basics to avoid getting into the complexity of the numbers game. However, just like […]
There’s a lot that can go wrong with a business’s everyday functions—especially with regard to bookkeeping. Most financial discrepancies occur because of the methods used by your company for accounting purposes. Some of these bad bookkeeping methods include: Here are some areas that get affected if your poor bookkeeping practices are not up to the mark: Purchases […]
