If you have accumulated more money in your business checking account than you really need for daily operating expenses, that is a nice problem to have! It’s time to consider putting that money to work. A business savings account might…
Is Sunk Cost Bias Affecting Your Spending Decisions?
As business owners, we’d like to think that we make rational, logical decisions when it comes to our business finances. However, scientists have discovered that we have built-in biases in our brains and our thinking processes, and one of these…
Knowledge Panels
Are you looking for new ideas to market your business? If so, knowledge panels might be something to consider. Most people haven’t heard of them, but they are widely used in search results every day. Knowledge panels are an invention…
Understanding Equity on the Balance Sheet for a Sole Proprietor
The equity section of the balance sheet looks different depending on the legal structure of your business. The most common entity types are corporations, partnerships, and sole proprietors. In this article, we’ll take a look at what the equity section…
10 Ways to Slow Down in Business (and Why You’d Want to)
Sometimes we just need to slow down. It could be our body telling us it needs a break. It could be our mind experiencing the first signs of burnout. Even if you own your own business, you are subject to…
Prioritizing Capital Expenditures
Most small businesses own fixed assets, which include items like land, buildings, equipment, and automobiles. The investments of adding, replacing, or improving upon fixed assets is called capital expenditures (capex). It seems like there is never enough money for all…
Five Ways to Welcome in a New Year: 2023
A new year is a perfect time for a fresh start for you and your business. Here are five ways to welcome 2023 and make it your best year ever. Decide on a theme for 2023 Setting a theme for…
Are Your Employees “Quiet Quitting?”
“Quiet quitting” is a very new term in 2022 that refers to one or more employees who remain working, but only do the minimum job during regular work hours. They are done going the extra mile, they are done working…
What Is an Audit?
The word “audit” can be thrown around a lot in casual conversation. When an accounting professional uses it, it means something very specific. We’ll discuss this and other uses of the term “audit” in this article. Financial Audit A financial…
The Accounts Payable Process
All businesses, no matter their size, have bills to pay. The larger the business, the more formal the accounts payable process tends to be. That doesn’t mean small business owners can’t benefit from a formal accounts payable process. Too many…