Financial Management

Think about this: You are an accountant! You are back in the office, ready to start your job day! What do you see? You haven’t received payments for the invoices you generated! And what you see is a list of excuses for not getting timely payments. It’s not the first day of this happening, it […]

Introduction Efficient records management in any small business is paramount as it ensures healthy cash flow. The accounts receivables and payables management records have a unique significance in the business world. Let’s dive into detailed information about Accounts Payable and Receivable Management and their importance. What is Accounts Payable Management? Let’s first understand, what are […]

What Are Sprints?  Sprints are short periods of intense work, typically lasting a few weeks. Each sprint focuses on a specific set of tasks or features. Every sprint has a well-defined goal that contributes to the overall project objective. It’s like having a mini-milestone to celebrate progress within the bigger picture. Think of sprints as […]

Introduction Entering the 21st century, it’s hard to imagine that you can still conduct transactions without physical currency. That might not be the case in the future, though, as we move toward an era when traditional forms of exchange could become less common and businesses deal exclusively with digital transactions. A society without physical currency […]

Introduction A cash flow statement models the flow of money into and out of your business to give you a better picture of your existing financial situation and how it’s likely to change in the future. While cash flow statements are relatively simple to understand, there are some common misconceptions about how they work and […]

Introduction Sometimes, you want your company to make a certain amount of money. To do this, you plan actions to reach that goal. This is called profit planning. It is beneficial, especially for architecture and engineering companies. Making a profit is important for any business. But many companies do not plan enough for how much […]

Introduction Are you a business owner who is dealing with the complexities of payment terms, and trying to balance between cash flow and client satisfaction?   Imagine you’ve delivered top-notch products or services, but your invoices are met with delayed payments, impacting your business’s financial health.  Ever wondered how to overcome this situation? In business transactions, […]

Introduction Are you looking for a billing method that suits your business?  Many businesses face challenges in understanding and implementing effective client billing methods.  According to a recent survey by the National Business Association, 65% of businesses encounter issues related to client billing. This impacts their cash flow and hinders business growth.  Thus, we have […]

Introduction Ever feel overwhelmed by the puzzling world of Software as a Service (SaaS) billing? You’re not the only one who is confused! The global SaaS market is exploding, set to hit a whopping $220 billion by 2024. But with growth comes complexity, especially when it comes to billing. Here’s the challenge: How do you […]

Introduction Are you trying to manage several income sources and finding it tough to keep everything in check?  It’s like handling many moving parts—it can get tricky and overwhelming. Nowadays, it’s pretty common to have more than one source of income.  Studies show that about 45% of working Americans are hustling on the side, and […]

Introduction So, you are a freelancer and have delivered a project but still waiting for the payment? We know this struggle is so frustrating. Not getting paid on time for your hard work can affect your finances & peace of mind. Do you know?  Nearly 71% of freelancers reported having trouble getting paid at some […]

Introduction Keeping up with payment changes is super important!  In 2024, the way accountants handle transactions will change a lot. What’s causing these changes?  And how will they affect what accountants do every day? Experts say 2024 will see big changes in how payments work. According to a top financial analyst – ‘Digital banking is […]