Budgeting and Financial Planning for Your Small Business

A good financial strategy is critical for success, whether you’re just starting out or trying to expand your current enterprise. Budgeting enables you to properly manage resources, track your finances, and make educated decisions that drive development. But, let’s face it, handling finances is usually the least fun aspect of owning a business. This is…
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Ways to Improve Internal Controls for Small Businesses

What are internal controls? Investopedia.com defines internal controls as “the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.” [1]  In other words, internal control is systems put into place to help protect businesses.  Internal controls include approvals, reconciliations, and segregation of duties. Having…
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Inventory Count Process

Have you ever sold an inventory item just to be told by the warehouse that the item is no longer in stock? Do you have unreliable financials due to large inventory count fluctuations consistently month after month? Does your inventory disappear, but sales aren’t reflected? If you answered “yes” to any of these questions, I…
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