Let’s be honest for a minute. You’re running a small business. You work long hours. You pay the bills, serve customers and try to keep everything afloat. So one day, you need cash for lunch. The register is right there. You think: “It’s my business. I’ll just grab $40 and sort it out later.” Or maybe you own a retail shop, and you take a product off the shelf for personal use without recording the transaction. No harm, right? Actually, there’s a name for that behavior in the bookkeeping...

As a business owner, there may come a time when you may consider offering a credit facility or pay-later plan to your customers. Perhaps a long-standing client has requested more flexible payment terms, or maybe you want to stay competitive in an industry where delayed payments are the norm. There’s nothing inherently wrong with offering credit. In fact, when managed correctly, it can be a powerful tool for growth and customer retention. However, credit facilities must be handled with...

Starting a business is exciting—but let’s be honest, it can also get extremely hectic very quickly. In the early stages, most business owners find themselves wearing multiple hats: marketer, customer service rep, operations manager, and yes… bookkeeper. With so much happening at once, it’s tempting to take shortcuts wherever possible. So let me ask you a simple (but important) question: Are you “winging it” when it comes to your financial records? Many entrepreneurs start off with the best...