Sep
02

Day to Day Operations of a Business: Record Keeping

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Record keeping is extremely important for businesses. Good record keeping allows for good bookkeeping which in turn brings accuracy and savings to the business. Having records of your financial transactions in an organized manner allows your bookkeeper to be able to go through your records in a more efficient way which saves you money in the end!Aside from this, good record keeping also shows a business owner where his or her business stands financially. As any business owner will tell you, you will need to stay on top of everything in your business. Having your records on hand when you need...
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Aug
28

Day to Day Operations of a Business: Accounts Receivable

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In the previous blog, we looked at a few important points you need to know when managing your accounts payable. As mentioned, you must be able to manage both accounts payable and receivable properly as these are essential in keeping your business running. In this blog, we’ll look at a few things you need to remember about accounts receivable. Accounts receivable is money owed to a business by its debtors for goods and services delivered. So if your business gets paid when the job gets done or you are selling a product without credit terms then you may not have any...
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Aug
26

Day to Day Operations of a Business: Accounts Payable

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Paying and getting paid are transactions that are fundamental in the daily operations of a business. Whether you are paying someone else for their services or getting paid by a customer, these transactions are what keep your business running. This is why properly managing your Accounts Payable and Accounts Receivable is very important as a business owner. Here are some important points you need to know about Accounts payable. Accounts payable is money owed by a business to a supplier and is shown as a liability on the balance sheet. Accounts payable is quite simple but you do need a tracking...
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Aug
21

Day to Day Operations of a Business: Banking

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Banking is a part of doing business. Day to day operations of a business will include depositing funds, writing cheques and paying for expenses, among many other things. This is why it is extremely important that you choose the right bank service package to be on. Bank service charges add up so be sure that you are on the right package for the types and number of transactions you will be using. If you mostly do your banking transactions electronically and do not usually use cheques then you may be able to find a free business bank account in most major...
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