Managing Your Accounts Receivable Running a small or micro business can be challenging, especially when it comes to managing your accounts receivable. But don’t worry, the eCashbook Bookkeeping system is here to help. Consider taking some of the following steps to ensure you get your money when you need it. Step 1: Invoice Promptly and Accurately The first step in managing
Effective Bookkeeping has many, many, many Benefits I don't know about you, but bookkeeping seriously sucks. It'soften viewed as a mundane task, a necessary evil. Unfortunately, you actually need it. So the simple and most easiest way to get it done in limited time is what you need to be looking for. Bookkeeping is the control tool of the "seat of your pants" management which
Learn what is the best way to record your transactions for your Business. It can be a bit of a brain snap trying to work out the difference between Cashbooks, Bookkeeping and Accounting. Each of those generally refers to the complexity of the systems used to record transactions and then format that data into a desired interpretable outcome that business owners can make decisions on. So
Bookkeeping… How Hard is It? Bookkeeping in its simplest form is fairly straightforward. It comprises of two overriding themes that dictate the flow of funds in and out of your business. So, forget the debit and the credits and the liabilities and the equity and all the other accounting jargon you would have come across over the years. That stuff was invented to track organisations as th
Simplified Bookkeeping for Solopreneurs As a solopreneur, you’re a one-person show, juggling multiple roles. While bookkeeping might seem daunting, especially if you’re not keen on learning the nitty-gritty of debits and credits, it’s essential for tracking your business’s financial health. But don’t worry, you can still get valuable insights without diving i
You need Cashflow to run your Business Without cashflow your business will cease to exist. So it's important to monitor the cash in your business and have an understanding of what impacts its movement. Put really simply, your businesses cashflow is the Money coming INminus the Money going OUT. And what's left you get to spend or invest. Not knowing what your business cashflow is w
Knowing Your Charge Out Rate: A Key to Profitability If you employee people and charge them out at an hourly rate then you need to determine that your charge out rate is actually being recovered and adds to your bottom line. Having awareness of this measure will ensure you are not underpricing your jobs and actually contributing to your overall profitability. Make sure you're just not
Why Cashbooks Are The Best Bookkeeping System For Small And Micro Businesses If you run a small or micro business, you know how important it is to keep track of your finances. But do you know what is the best bookkeeping system for your business? The answer is cashbooks. Cashbooks are a simple and effective way to record and manage all the cash transactions of your business, such as in
Accounting vs Bookkeeping vs Cashbook: Which is better depends on your business. What are accounting, bookkeeping and cashbook? Accountingis the process of interpreting and presenting financial data to business owners and investors. Accounting involves tasks such as preparing financial statements and reports, creating budgets and tax returns, and analysing business performance¹².
It seems to be the case that many Rideshare business people get their claim for motor vehicle expenses wrong. This comes as a result of not quite understanding the way the tax laws work when claiming your car and theseimpacts both the Income Tax you pay and the GST you will be required to pay, each quarter. Motor vehicle tax deductions are determined by a LOG BOOK. Without a log book you don