The average SMB collects more than $17,000 per month in receivables using InvoiceSherpa’s automated invoice reminders. This critical piece of technology is what enables your customers to take action and pay what they owe with a few clicks. And today, its most significant upgrade yet is going live.
Small business accounting is no walk in the park.
Starting and running a small business is a massive undertaking. There are so many little tasks that will make their way onto your to-do list. Of course, you’ll also have the chance to celebrate plenty of achievements, as long as you make sure that you’ve got the right foundation in place.
Accounting is a part of the foundation of your small business, there’s no arguing that!
Managing invoices is a crucial element to running your small business properly. This one simple process can make or break your business! If your invoicing system isn’t managed properly, this could end up costing you a lot of time and money. Not to mention, it can have a significant effect on your cash flow.
If your small business doesn’t have its bookkeeping in order when tax season comes around, you may find yourself wading through hours and hours of work.
Having consistent processes will help keep you from scrambling to organize everything when it’s time to submit your tax returns.
Once you gather the courage and resources to start your own business, it's easy to get into the groove and lose sight of the big picture. To make sure you protect your investment and keep your business on the right track, you need to pay attention to KPIs.
Reconciliation is an essential accounting process that ensures two different financial records are correctly matched up. This is especially important to ensure that your accounts are all in order.
When it comes to the financial aspects of your business, knowing invoicing and estimation terms and understanding the differences between them is crucial to stay organized and on top of things.
In this article, we’ll break down invoice vs. estimate, two terms that may get mixed up every once in a while.
If you’re running a business, you probably understand the pain of chasing down customers who haven’t paid their invoices.
In an ideal world you will get paid as soon as you’ve delivered your product or service to your client. Unfortunately, it can take days or weeks before you see the cash in your account. Days sales outstanding, also known as DSO, is a way of measuring the average number of days it takes for you to get paid when you bill or invoice a client.
Accounts receivable and accounts payable are two of the most important things for business owners to understand. The simple reason why? Well, these two elements are what dictate the money you bring in! In short, it’s easy to think of them as complete opposites. However, it’s important to ensure that you have a full understanding of the difference between the two in order to efficiently manage your business.
Any good business-owner knows that tightly-managed accounts receivable are important for the efficient day-to-day operation of your company.