Guides 8 minute read

What is accumulated depreciation? And why does it matter to my business?

So you’ve invested in assets for your business, but as time passes, their value declines. Did you know that this is actually an accounting concept that impacts your bottom line? Accumulated depreciation is more than a mere reduction in numbers; it’s one factor that shapes your company’s financial landscape. In this guide, we’ll dissect the calculation method for accumulated depreciation, pinpoint where it is in financial statements, and explore why it should be tracked as part of any business’s fiscal health.

Guides 7 minute read

What is an operating account? Does my small business need it?

Every small business story begins with its financial heartbeat – the operating account. It’s the primary account through which daily transactions pulse, enabling commercial activities to happen without interruption. The idea of an operating account may seem straightforward, yet its role is pivotal for the seamless financial management of your business. In this guide, we’ll look at operating account definition, function, and whether your small business needs one.

Guides 8 minute read

How to manage cash receipts for employee reimbursement

Have you ever experienced the chaos of an employee’s reimbursement being delayed due to misplaced cash receipts? It may look like a tiny piece of paper, but it’s vital for validating and tracking expenditures for business transparency and accountability. In this guide, we’ll explore how you can manage crash receipts for employee reimbursement, including the basics of their importance and the crucial ways to keep your financial ducks in a row.

Guides 9 minute read

How to read a cash flow statement for your small business

Understanding the ebb and flow of financial resources is essential for survival and growth. In this guide, we’ll look at your company’s lifeblood: the cash flow statement. We’ll decode the language of your small business’s financial health so you can master this tool that equips you to make strategic, informed decisions to thrive.

Guides 9 minute read

How to manage freelance taxes: A guide

Being your own boss always sounds good on paper, but as a freelancer, when you actually have to deal with paper – including freelance taxes – understanding all your legal and fiscal obligations is crucial. In order to help you budget accordingly, manage your expenses, and plan for tax season, we’ve created this guide to provide freelancers with tips, resources, and answers to some of the most common tax-related questions.

Guides 8 minute read

How to send an invoice: your step-by-step guide (+ Excel invoice template!)

Invoicing might not be the most glamorous task, but it’s a cornerstone of a healthy business. Understanding and implementing the best practices for sending invoices ensures you get paid for your work promptly and professionally. In this guide, we’ll discuss invoicing in detail, from crafting to sending—and even automating—the request for your well-earned compensation.