Many entrepreneurs are reluctant to write off the business use of their home for fear of being audited. But home office expenses are legitimate tax deductions you shouldn’t miss out on. Keep in mind the space you claim as a home office should be used exclusively and regularly for that purpose. Don’t forget to include the square footage of your …
Continue ReadingWhen analyzed over time or comparatively against competing companies, managers can better understand ways to improve the financial health of a company. Some footnotes will be filled with accounting jargon, which may make the information conveyed difficult for the reader to understand. It could be to hide something from the public, and investors should be wary of any financial statements …
Continue ReadingCarrying out the physical inventory count in a systematic, organized manner with appropriate quality controls can significantly enhance the accuracy and reliability of the count. Next, we’ll cover the steps that should be taken after the count, including reconciliation and reporting. This post-count process is vital for fully realizing the benefits of the physical inventory count, as it’s during this …
Continue ReadingSome employers may not need or be able to afford an extravagant benefits package. Others will incur employee dissatisfaction, resentment, and turnover if the package is too meager. To some extent, however, the employer can mitigate the impact by choosing a leasing firm that offers an acceptable benefits package. Large leasing companies may offer a limited number of plan options, …
Continue ReadingFor example, you may allow clients to pay goods 30 days after they are delivered. Designed for freelancers and small business owners, Debitoor invoicing software makes it quick and easy to issue professional invoices and manage your business finances. For more tips to improve your collection processes, check out our 8 best practices to effectively manage Accounts Receivable. You may …
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