Inventory management refers to the process of organizing and managing stock throughout the supply chain. Effective inventory management plays a significant role in providing enough stock for your business to
Accounting Terminology Every Business Owner Should Know
Have you ever felt like your accountant is speaking Martian? Do you get even more confused after each conversation with them? Well, that means you need to work on your
Why Should You Stop Using Excel Spreadsheets for Accounting?
It is common for business owners who are running small- and medium-sized enterprises (SMEs) to use Excel spreadsheets for bookkeeping. The underlying reasons for this phenomenon seem to be: 1)
When is the Best Time to Change Accounting Software?
So you’ve decided to switch to using accounting software for recording your business financial information instead of any other traditional accounting system, such as using spreadsheets or journals? The question
How to Start Your Financial Year off Right
Each new financial year presents businesses with an opportunity to reorient the business towards its goals. It is the perfect time to set medium- to long-term business plans you have
The Importance of Cloud-Based Accounting During a Pandemic
In the current times, with the COVID-19 pandemic ravaging across the world and disrupting the economy, businesses are brainstorming ways to keep up. Cloud-based accounting software is one of the
Trial Balance: How Does It Work?
The term “trial balance” may sound unfamiliar to most people, even to some who work in accounting. In fact, the trial balance is one of the essential elements in bookkeeping.
10 Must-know Bookkeeping Tips for Businesses
Running your small business effectively involves factors beyond taking care of customers’ needs, leading your team, and allocating resources. These aspects are indeed essential for growing your business, but there
Ways to Promote Business Growth Through Digitisation
Other than beating the competition, investing in tech can actually boost business growth as well. It is the basis of any organisation’s developments in internal operations as well as customer-centred
8 Ways to Manage Overdue Invoices
As a business owner, you will know that cash flow is essential for your business’s growth and survival, just like a vital organ in the body. Believe it or not,
