As a small business owner who may extend credit to your customers, you may find that it is sometimes difficult to collect payment. This is a serious situation as it affects your cash flow and therefore negatively affects your ability to cover daily expenses and obligations as they arise. It is therefore important for you to implement systems that will ensure that customers pay on time and that sufficient cash is constantly available for you to run the business efficiently.

It is almost that time of the year again. All year round, you have been working to make sure that you achieve and fulfil the vision you had at the beginning of the year. Most of the plans you have made are financial, and as much you would like to start celebrating your success, you may have realized throughout the year that one step of your financial process is still pending. The summing up the expenses, profits, and losses, also known as, completing your year-end

In general, business owners and other professionals want to keep track of all their income. This includes moderate and small amounts. However, does it also include tracking incoming restaurant tips if you’re working in the food industry and employ people like wait staff, bartenders, bussers and hosts who are earning tips?

If we can put a price on the environmental damage done by a specific activity we can change the rules so that those doing the damage have to account for it.

But that hasn't stopped the federal government from essentially accusing the vast majority of business owners of dodging their fair share of taxes.

While one in four businesses plan to integrate their accounting with invoicing and payments by the end of 2017, over 27 percent have no plans at all for integration.