Getting More Finance Administration Tasks Done in Less Time

If your small or medium-sized business has only one finance manager or at least a smaller group of finance managers, chances are, handling every record of your company’s day-to-day expenses (on top of all their other duties) might get overwhelming from time to time, especially during earnings reports season.

Getting More Finance Administration Tasks Done in Less Time

Human error is frowned upon, but especially when it comes to handling company finances. So how can you best deliver in a fast-paced, demanding environment without overburdening your employees?

Here’s a rundown on how a cloud-based finance administration software can actually be of help to these common tasks:

  • Managing your accounts payables

Relationships with suppliers and vendors should, like customer relations, be a priority.…

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What Small Businesses Need To Know About Rolling Forecasting

Budgets are no longer unchanging entities. In the midst of the information age, with transactions moving faster, business spanning the globe, and technology providing helpful tools to re-plan and re-think budgets, many small businesses are adopting a new way of thinking about their financials.

What Small Businesses Need To Know About Rolling Forecasting

Conventional budgeting wisdom offered this guidance to small business owners: create a budget and don’t stray from it. An article from CFO Magazine points out that traditional budgeting is expensive, time-consuming, and quickly becomes out-of-date within a few months.

The benefits of rolling forecasting are vast, but overall, the methodology allows small (and large) businesses greater ability to adapt to what many people say is a volatile financial environment.…

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How Business Loans Can Help Small Business

Loans are an integral part of all businesses big or small. In times of financial needs these loans can help the businesses to keep their doors open. A business can require financial assistance for various different reasons and at different phases of its life cycle.

How Business Loans Can Help Small Business

You might need a loan for starting up your dream project or to expand and modernize or to recover from a financial wreck caused due to unforeseen situations, the reasons are plenty. However, understanding the need for a loan and how the money would add to the prospects of your business is of utmost importance.

There are plenty of sources of finance available to meet your needs.

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Five Ways New Business Owners Can Save Money

5 tips for cutting business expenses

Starting a new business is a gamble, especially in the current economic climate. You might have a winning concept, excellent leads and the drive to succeed, but how do you keep your business afloat until the money rolls in?

1. Review Your Bills. There’s no need for both landlines and mobile phones – cut out the landlines and call clients from your office for free with Google Talk. Your insurance plan is another area in which you could cut costs, at least temporarily. Go with a plan that offers a higher deductible to cut monthly premiums.

2. Shop Smart. Planning ahead when it comes to shopping is critical.…

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5 Bad Habits That Keep You From Getting the Funding You Need

bad habits that won't get your business funding

It’s common for small businesses to slip into bad habits that limit their ability to get funding.   From unscreened customers to generous payment terms, here are some of the most common reasons lenders will not loan to small business owners.

1. Not putting profits back into the business

When you hear these pleasant words from your accountant, “You should take a draw before the end of the year,” think again.   Building equity in your business has a positive impact on your ability to get funding.   A lender always looks at your debt-to-equity ratio.   The more equity you have, the better your ratio.  …

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Financial Literacy Among Entrepreneurs

financial literacyAny person who is running their own enterprise and is accountable for it can be called an entrepreneur. But not all entrepreneurs can be called financially literate. Financial literacy goes beyond just knowing what goes on in the financial world, it is about understanding finance so that effective decisions about the business can be reached.

With the current economy, there is undoubtedly a need to improve financial literacy especially among those in the business sector. You may have the best business idea or the most innovative products in the market but if you do not have the essential financial knowledge in managing the money your business makes, you are in for a rough ride.…

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Frugal Business Spending: A Must In A Tough Economy

frugal business spendingIn these tough times, the biggest impact of the economic downturn is being felt by the small business sector. This is largely because of the fact that there are fewer resources available to counter the effects of an uncertain economy. The best way for a small business to thrive nowadays is by cutting costs. Practicing frugality in your business does not mean that you are sacrificing the quality and service level of your company. Cost cutting on certain aspects of your business could just be the economic stimulus needed to let you bounce back from an economic spiral.

Basically, there are six areas you can start spending less on but still retain the quality of your products and services.…

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