Proper bookkeeping is a not a hit and miss, trial and error thing in a business. A lot of businesses failed in the recent financial crisis because of not being able to strike a balance with the most simple accounting equation Assets= Liabilities+Equity. They have liabilities more than their assets could pay off or lend [...]
1. Taking everything on yourselfThe business owner and/or their spouse try to do it all themselves (even though they don’t really understand what they should be doing, even though they really don’t like doing it, and even though they are busier than they’ve ever been in their lives before trying to do all the things [...]
Early in the year, the Inland Revenue Authority of Singapore (IRAS) laid their hands on the tax evaders. Those got questioned, investigated have to pay the authority the tax shortfall due to under declaring income. To add icing to the cake, they are ordered to pay huge fine as a penalty.Among those got caught admitted [...]
Looking for a perfect place to start up your own business? If you are, then you’re probably dealing with the stress and money-worries that come from finding a commercial lot for your small business.Why not delete this step altogether? After all, do you really need a commercial lot for your small business.?There are other places [...]
50,000 plumbers, gas fitters and heating engineers will soon get a letter from the taxman; alerting them to a special time-limited tax amnesty to put right any problems in their tax affairs. Once the opportunity expires, HMRC will begin a clampdown on those working in the sector who have failed to declare earnings and pay [...]
Remote deposit capture helps make a business owner’s receivables process more efficient by utilizing an inexpensive check scanning device to make electronic deposits of money orders and checks to their financial institution. This process eliminates the need to make frequent trips to the bank to make daily deposits, while at the same time saving the [...]
Content is king and information is power.Internet users have an insatiable desire for content. Buyers want the content fast and easy. All internet buyers have mobile phones. Mobile payments are fast becoming a great way for them to make payments.Merchants have content and want to sell it in the easiest and quickest manner possible. They [...]
Mark-to-market accounting practices have been blamed for much of the financial disaster of 2008 as banks and other lending institutions found home values plunging below mortgage values. What is mark-to-market accounting, and how has it affected the recession? Originally, the Securities and Exchange Commission (SEC) instituted the mark-to-market accounting practices to make sure
If you own a Google for mobile car washing, pressure washing or auto detailing business you know that when your crews and machines are parked and working that you are making money. You also know that when those units and crews are driving or stuck in traffic you are losing your shirt in costs and [...]
You are a business. You don’t get by through the process of cutting checks and handling the administrative requirements to ensure that your workers are paid and that the company remains in good standing. Yes, that is a vital part of keeping your business alive and and teaching it to thrive, but chances are you [...]
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