How to Prevent Bad Debts in Business

Preventive measures against bad debts. What is “bad debts”? In a simple language, I will define bad debts as sales made to customers on credit which you are not able to collect. On the other hand, one can say that bad debts are irrecoverable debts. Bad debts as its name implies is bad for any business. It does not only distort your financial reporting, it also affects your liquidity. Let me explain this. In accounting, you prepare your financial statements using accrual concept. This implies that you recognise your revenues when sales are made. You don’t wait till the time Continue ReadingHow to Prevent Bad Debts in Business

A Guide to Starting an Online Business From Home

Starting an Online Business Checklist If you want to start a successful online business from home, there are certain practical steps you need to take. You can’t run a successful online business by just a wish. If wishes were horse, beggars would ride, they say. Every rational being that starts online or home business will like it to be successful. Whether you are about starting your own online business or you have started one already, this article will give you tips on how to run a successful online business. Below are few steps you need to take in order to make Continue ReadingA Guide to Starting an Online Business From Home

Top Web Hosting Companies Around the World

Waiting for Black Friday and Cyber Monday 2017 Web Hosting Deals? Are you searching for web hosting companies? Are you targeting Black Friday/Cyber Monday web hosting deals? Instead of spending your valuable time searching for web hosting companies, we have dedicated this article to make a list of the popular web hosting companies so that you can choose the one that best suits you. It is no longer news that there are website hosting deals and discounts usually being offered by many web hosting companies in Cyber week, covering Black Friday and Cyber Monday. In this year Black Friday and Cyber Monday, Continue ReadingTop Web Hosting Companies Around the World

Vital Sources of Finance For Small Businesses

Sources of Finance Available to Small Businesses. There are various sources of finance available to small businesses in order to finance their operations in addition to the initial capital needed to kick start the small business. After business owners must have started their businesses, other sources of finance will start to emerge. These include the following: Overdraft Overdraft on the other hand is a short term credit facility which is meant to meet short term financing requirements. The bank allows you to draw above what you have in your current account. The interest is normally payable on the amount overdrawn. Overdraft can be used Continue ReadingVital Sources of Finance For Small Businesses

How to Prepare Cash Flow Forecast for Small Business

Preparing cash flow forecast does not require a high level of skill in accounting. Cash flow forecast is a vital tool you can use to control the financial aspects of your small business. Companies don’t go bust because they lose money; they go bust because they run out of money. Most small businesses equate success with sales volume and profit. The reality is that a business can become insolvent in the middle of its best year in terms of sales and profits! Therefore there is a need to be very careful of cash flow where the business is growing rapidly.  Working Continue ReadingHow to Prepare Cash Flow Forecast for Small Business