Patricia Anderson No Comments

A Quick Primer on Crowdfunding

An interesting way to fund your dream project, whether you are a startup or a more established business, is to consider crowdfunding. Crowdfunding is when many people provide the money in small amounts for a project. Although crowdfunding is not new, it became much more popular when organizations like Kickstarter, Indiegogo, RocketHub, and GoFundMe created web platforms to enable this method of raising funds. The 2015 crowdfunding market is estimated at $34 billion and is growing exponentially. How Read more [...]
Patricia Anderson No Comments

Beyond Saving Trees: New Trends in Receipt Management

Accounting automation has come a long way in the last few years, and the process of handling invoices and receipts is included in those changes. As a result of automated accounting, no longer is there a mountain of paperwork to deal with. In this article, we’ll explain some of the changes in this area. Vendor Invoices Most invoices are now sent electronically, often through email or from accounting system to accounting system. In addition, some accounting systems allow the invoice document, usually Read more [...]
Patricia Anderson No Comments

What’s Your DSO?

If you grant credit to customers, then you have a balance in accounts receivable. DSO stands for Days Sales Outstanding, and this helps you measure how fast your receivables are being converted to cash. Here’s how to calculate it: DSO = Accounts receivable balance / Annual net credit sales * 365. DSO is measured in days and it represents how many days it takes to collect the customer invoice balance and convert it to cash. Whether the DSO measure is “good” or not varies by industry Read more [...]
Patricia Anderson No Comments

Do the New Overtime Rules Affect You?

Effective December 1, 2016, federal overtime regulations will change and may affect how you are paying your employees. These overtime updates will affect 4.2 million workers across the country. The New Rules The new rules will raise the salary overtime-eligibility threshold from $455/week to $913 ($47,476 per year). This new threshold will increase every three years. Salaried workers already entitled to overtime will get increased protection. Employers have a choice of three actions they can Read more [...]
Patricia Anderson No Comments

Have Your Layer Cake and Eat It Too

The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of meaning to them. When you can understand how expenses play a part in profit, you can manage them better. Here’s how to make a layer cake of your business expenses. Let’s start with the most direct expenses. Direct Costs If you have inventory you will have a balance Read more [...]