Tag: financial performance
-
Cash vs Accrual Accounting: Which is right for you?
There are two ways to track your business’s money, the cash method and the accrual method. In order to keep accurate records, it is important to follow one regularly. Each basis has its pros and cons. Some businesses run better on a cash basis, other on accrual. In order to understand which is best lets…
-
Investing in Your Business: Strategies for Growth and Expansion
Financial resilience is essential for small business survival and growth, especially in the face of uncertainty and adversity. In this blog post, we explore key strategies that small business owners can leverage to bolster financial resilience, navigate challenges, and thrive in dynamic market conditions. From managing cash flow and debt effectively to diversifying revenue streams…
-
Common bookkeeping mistakes and how to avoid them
Bookkeeping is the foundation for financial reports so even minor errors can lead to an unclear financial picture. Avoiding common bookkeeping mistakes is essential to maintain financial health, compliance, and accuracy in reporting. Below we will discuss doing commonly made mistakes and how to avoid them. Neglecting to Separate Finances One prevalent mistake is neglecting…
-
Bookkeeping Basics: Essential Concepts Every Small Business Owner Should Know
Running a small business involves juggling multiple responsibilities, and managing finances is undoubtedly one of the most critical tasks. Understanding fundamental bookkeeping concepts is essential for maintaining accurate financial records and making informed business decisions. Let’s explore the basics of bookkeeping and how small business owners can apply these principles effectively. Fundamental Bookkeeping Concepts There…
Arrowhead Financial 