Friday, 24 February 2017

Salary vs. Dividends: Dilemma for Small Business Owners

How you would pay yourself as a small business owner is a question that requires contemplation. You can pay yourself a salary, or can receive dividends, or a combination of both. However, the decision on salary vs dividend is influenced by a variety of factors such as personal and corporate tax structure. Considering this, each way of paying yourself comes with pros and cons. Moreover, in almost all cases there is a discrepancy of a percentage or two that can work in your favor or against you, and this potentially influences your decision on how to compensate yourself. To provide you with clarity on the subject here is a comparison of paying yourself in salary vs dividend.

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Thursday, 16 February 2017

What To Do With Overdue Invoices?

Do you have some clients who always delay your payments? Are unpaid invoices affecting your cash flow? Is your client always busy or comes up with an excuse when you ask about the payment? Well, these are some of the commonly faced problems by small businesses. An untimely or worse unpaid invoice not only affects the profitability of your organization but also causes other problems in your finances. So how do you deal with overdue invoices? Here’s what you should do to overcome the problem of overdue invoices.

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Thursday, 9 February 2017

5 Cash Flow Hacks

Are you experiencing cash crisis? Are most of your cash blocked in inventories and non-liquid assets? In today’s world, the use of the digital transactions is quite popular. However, businesses still need to have sufficient amount of liquid cash in case of any emergencies. If pure cash is not possible, then assets that can be quickly converted into cash should be present. Lack of cash or liquid assets can affect the smooth functioning of business transactions and therefore, you must improve your cash flow for the same. So how do you improve your cash flow? Here’s what you can do.

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Thursday, 2 February 2017

How Can Your Business Manage Checks?

Many small businesses deal with the hassle of inflow and outflow of checks on a daily basis. As a business owner, you are involved in several aspects of business operations. Signing and depositing checks seem like a daunting task in your busy schedule. In a fast-paced era, a traditional approach for check management is time-consuming. Investing in technology and keeping up with safety measure makes for a more efficient way of managing checks. Here are a few accounting tips for small business that allow better check management.

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