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?”

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?”

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”

What is the Difference Between Consumer and Commercial Debt Collection?

For a business to run efficiently and to earn profits in a consistent manner, it is critical that it has adequate liquidity and financial resources on call. Businesses often face challenges despite their skilled financial planning not because of their inability to maintain the right amount of liquidity or capital to support their needs, but … Continue reading “What is the Difference Between Consumer and Commercial Debt Collection?”

How to Hire a Small Business Accountant

If you are starting up a small business or you have already been running one for a couple of years, you are probably quite aware of the many accounting and finances related tasks that are involved. A number of business owners, especially those who are just starting out, make the mistake of assuming that accounting … Continue reading “How to Hire a Small Business Accountant”