expenses

Starting a petty cash fund is a great way to manage small expenses without having to write a check or use a credit card. It’s a simple and efficient way to keep track of small purchases and reimbursements.

The 50% rule in accounting is a guideline businesses use to classify expenses. If an expense is more than half the cost of replacing an asset, it’s a capital expenditure. This rule is important for companies to record expenses an keep proper financial records. It helps differentiate between costs that are big enough to be capital […]

Accurate journal entries are crucial in accounting – they provide the basis for financial statements and reports. These entries document daily business transactions, making sure every one is recorded and classified properly. If entries are inaccurate, financial data could be unreliable – leading to incorrect financial statements and potentially poor decision-making. What are the basic […]

Mistakes are an inevitable part of running a business. It is a common practice that a business faces a drawback due to an unpredictable financial mistake. Some blame it on ignorance, some on lack of professional guidance, while others are simply trying to find someone to blame. What financial mistakes put business at risk?

Chief financial officers (CFOs) must go beyond conventional finance functions in today’s business environment and become guardians of a company’s digital transformation. They’ll need to use a variety of SaaS tools, including artificial intelligence (AI), machine learning (ML), and blockchain, to do so. What financial software tools does a CFO use?

Part of being a responsible small business owner is anticipating major expenses and doing your best to avoid them.  How can a business avoid unnecessary expenses?

One of the biggest financial mistakes that put businesses at risk is by mingling their personal and business finances. As a business owner, you don’t want to open yourself to liability or fall further into debt due to poor money management by letting your business and personal expenses mix. How do you keep business and […]