Handling Customer Credit – Why Sell on Credit? Most small-business owners do not want to deal with all the expected hassles that come with offering credit to customers. Most of them also realize that in today’s highly competitive markets, extending credit (at least to some customers) can be essential to success. Many drag their feet, … Read more
Standard Operating Expenses – Don’t Forget Amortization Amortization expense is similar to depreciation, except it works only for intangible assets. This expense measures decline in the value of those assets over time. How do intangible assets decline in value? Well, they don’t wear out or rust, but some of them, such as patents, have specific … Read more
Accounting Is More Than Numbers – Top Ten Accounting Mistakes 1. Not knowing your true cash balance: Due to things like automatic payments and bank charges, money that appears in your cash drawer and your checking account may already be spent. 2. Extending credit without checking credit: Until you collect some basic credit information about … Read more
