What are Good Resources for Legal Marketing?

If you’re a lawyer working with a private practice, you need to be aware that you’re in a business that relies on sales. For you to expand your network and become successful, your client base plays a key role. So, how does one create and expand their client pool?   What makes a successful lawyer? … Continue reading “What are Good Resources for Legal Marketing?”

Quickbooks versus FreshBooks: Which One Should you Pick?

Managing the financial end of your business is a critical task that needs to be done with accuracy and efficiency if you want to taste success. If you are having a tough time managing your accounting, invoicing and financial tracking tasks, it is time for you to take the help of technology in this area. … Continue reading “Quickbooks versus FreshBooks: Which One Should you Pick?”

In-house versus Outsourcing Debt Collection

If you have debtors and it is time to collect, then this is a question that has plagued many creditors. However, there is no right or wrong solution; it all depends on the nature of your business and the amount of debt to be collected. Firstly, do you have a dedicated in-house collection department? Or … Continue reading “In-house versus Outsourcing Debt Collection”

A Comparison of Small Business Accounting Software

Accounting software has made the task of managing cash easier and more efficient for small businesses. There are many accounting software packages designed keeping the needs of small businesses in mind. Selecting the right accounting software for your small business Your choice of small business accounting software will depend on a number of factors. The … Continue reading “A Comparison of Small Business Accounting Software”

What is a Reasonable Percentage of Accounts Receivable to be Past Due?

The efficiency of a small business hinges quite heavily on its ability to make optimal use of all its resources. Finances being one of the most critical resources, the business needs to ensure that every dollar it invests is yielding the right value at the right time. This is where the question, ‘What is a … Continue reading “What is a Reasonable Percentage of Accounts Receivable to be Past Due?”

The Process of Debt Collection Explained

Unpaid dues can break a small business in a drastically short period of time. The small business owner often finds himself investing a disproportionate amount of time, manpower and other resources in following up with these debtors. In many such situations, the whole endeavor turns out to be a case of good money being thrown … Continue reading “The Process of Debt Collection Explained”

What Type of Payment Methods Should my Business Use?

Small businesses tend to be more heavily dependent on their cash flow than their bigger counterparts. This why the question of ‘What type of payment methods should my business use?’ assumes great importance for a small business owner like you. Before you start evaluating the different payment methods and their pros and cons, it is … Continue reading “What Type of Payment Methods Should my Business Use?”

How Do I Collect Small Business Debt?

It wouldn’t be an exaggeration to say that free cash flow – the amount of cash flowing in over and above the expenses – is the lifeblood of small business creditors. A lack of consistent positive cash flow can stop your business in its tracks, preventing you from reinvesting in growth or building your team. … Continue reading “How Do I Collect Small Business Debt?”

What is a Good Book to Learn Business Accounting?

There are several good books available in the market to learn business accounting, all aimed at readers with varying levels of knowledge. Some of the good ones are as follows: Accounting All-in-One For Dummies, Kenneth Boyd, Lita Epstein, Mark P. Holtzman, Frimette Kass-Shraibman, Maire Loughran, Vijay S. Sampath, John A. Tracy, Tage C. Tracy, and … Continue reading “What is a Good Book to Learn Business Accounting?”

Metrics for Measuring Accounts Receivables Performance

In the simplest sense of the word, every business exists to make money; and small businesses are no exception. Firstly, what is accounts receivable? This is basically money that a company should receive for having delivered goods or rendered services, hence the word ‘receivable’. Because this is listed against customer accounts, we have accounts receivables. … Continue reading “Metrics for Measuring Accounts Receivables Performance”