Credit and debit card payments have become a routine part of doing business. They offer customers convenience and can make it easier for businesses to collect revenue. But that convenience comes with a cost, and for businesses with significant card volume, processing fees can become a meaningful operating expense. A processing rate of 2% or…

Running a business means making financial decisions every day. Is it time to hire? Are prices keeping pace with costs? Can the business afford a major purchase? Why are sales increasing, but cash still seems tight? Your financial statements contain information that can help answer those questions. Being familiar with the accounting concepts behind the…

Most small business owners review their books at tax time. That review meets the compliance requirement, but it leaves ten or eleven months of the year with no visibility into how the business is actually performing. A short monthly review of a handful of figures, alongside the books your bookkeeper is already producing, can surface…

What exactly is owner’s equity, and why should you as a business owner care about it? Owner’s equity is the value that you own in your company once all debts are paid. Knowing your owner’s equity is essential for assessing your business’s net worth and making strategic decisions. This article helps you grasp and calculate…